Funding
Funding not disclosed
Founders
Product
Problem
The corporate bond market is characterized by illiquidity, opaque pricing, and manual execution processes, which are reminiscent of trading environments from decades past. These inefficiencies, coupled with the non-traditional price movements of corporate bonds, make it challenging for traders to obtain accurate real-time valuations and execute transactions efficiently.
Solution
Deep Market Making provides an AI-powered platform that delivers real-time, predictive pricing for U.S. corporate bonds, enabling users to enhance trading strategies and portfolio management. The system leverages advanced machine learning models, trained on extensive datasets including TRACE data, RFQ attributes, and market movements, to generate precise bid/offer indications and probability assessments for transactions. This allows market participants to move beyond outdated end-of-day pricing and manual workflows, facilitating more informed decision-making and improved execution. The platform also offers tools for automating the generation of market runs and provides real-time alerts for price targets and volatility thresholds, aiming to increase efficiency and capture market opportunities.
Target Audience
The platform targets credit professionals, including traders, portfolio managers, sell-side dealers, and market makers, who operate within the U.S. corporate bond market and seek to improve pricing accuracy and operational efficiency.
Features
- AI-driven Fair Market Value (FMV) model utilizing over 80 million parameters, with capabilities to scale to billions, to provide real-time corporate bond pricing.
- Ingestion of diverse data sources including TRACE data, equities, interest rates, credit ETFs, news updates, company filings, and proprietary data like messages and trade history.
- Real-time bid/dealer/offer indications that fluctuate with transaction volume and price discovery, offering a more granular view than a single mid-price.
- Probability of execution assessment at given price levels, allowing users to adjust real-time pricing estimates based on their market role (market maker vs. market taker).
- Automated "Runs" function for sell-side dealers to generate and distribute accurate market updates across hundreds or thousands of securities simultaneously.
- Real-time alerting system for price targets, volatility thresholds, and future relationship-based alerts (e.g., bond-to-bond, bond-to-index).
- Historical pricing data visualization, allowing users to compare current prices against any day within the last five years.
- Integration capabilities for direct data feed into existing workflows and potential for EHR integration.