Latest news with #SOLVE
Business Wire
10-06-2025
- Business
- Business Wire
SOLVE and Investortools Announce Integration of Predictive Pricing Data
NEW YORK & COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--SOLVE, the leading provider of pre-trade data and predictive pricing for fixed income securities markets, and Investortools, a leading provider of fixed-income software solutions, today announced a new partnership that brings SOLVE Px™, SOLVE's AI-driven pricing solution, directly into Investortools' Dealer Network and portfolio management system. The capability gives clients access to predictive prices for municipal bonds in real time, directly within their existing workflow. This integration is a unique addition to the Investortools platform, combining AI-based predictive pricing with pre-trade quote data. For SOLVE, the collaboration extends the reach of its data and analytics by embedding them directly into a platform fixed income professionals use every day. With SOLVE Px now integrated into the Investortools environment, traders and portfolio managers can access indicative institutional prices tailored to a $1 million trade size as well as size- and side-specific quotes. Each SOLVE Px output includes a proprietary Confidence Score and draws on pre-trade quote data, improving the accuracy of the predictive price by up to 34%. 'This collaboration brings predictive pricing directly into the decision-making process,' said Eugene Grinberg, CEO and co-founder of SOLVE. 'Investortools shares our view that technology should streamline and enhance how fixed income professionals work. We're excited to deliver SOLVE Px where clients need it most: inside the tools they already rely on.' 'This integration gives our clients direct access to high-performing predictive pricing to rapidly identify opportunities, assess market movements accurately, and execute decisions with confidence,' said James Morris, Senior Vice President and recently appointed Head of Sales at Investortools. 'As more firms lean on algorithms for assessment and execution, having a reliable price they can trust is no longer optional. Partnering with SOLVE brings that capability to our platform in a meaningful, practical way.' Through the arrangement, market participants gain access to predictive pricing on more than 900,000 fixed-coupon municipal bonds on the SOLVE platform. With a median margin of error of just 5.7 basis points, the data supports informed decisions regardless of market liquidity. Features like real-time 'Trade Assist,' targeted pricing, and efficient 'Portfolio Build' tools help streamline analysis and execution from start to finish. The new capabilities are on display at the Fixed Income Leaders Summit US (FILS) in Washington DC, June 9-11. Visit the SOLVE booth (37) for more information. About SOLVE SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in New York, with offices across the globe, SOLVE is the definitive source for market pricing in Fixed Income markets. For more information, visit *SOLVE Px does not constitute Investment Advice and does not seek to value any security and does not purport to meet the objectives or needs of specific individuals or accounts. About Investortools, Inc. For more than four decades, Investortools has been a leading SaaS provider of solutions regarded by the industry as a prerequisite for fixed-income investment management. Its comprehensive product suite covers portfolio, order, and execution management, performance analytics, 2a-7 compliance, and credit analysis. Trusted by over 200 firms managing more than $1 trillion in assets, Investortools supports SMA managers, fund managers, broker-dealers, and other key market participants.
Business Wire
05-06-2025
- Business
- Business Wire
SOLVE Expands AI-Powered Predictive Pricing to Corporate Bonds with Launch of SOLVE Px for the Corporate Bond Market
NEW YORK--(BUSINESS WIRE)--SOLVE, the leading provider of pre-trade data and predictive pricing for fixed income securities markets, today announced the launch of SOLVE Px™ for the Corporate Bond Market, a new AI-driven pricing tool for the high-yield (HY) and investment-grade (IG) corporate bond markets. Covering over 100,000 corporate bonds with industry-leading precision, SOLVE Px provides predictive trade-level pricing that helps traders and portfolio managers act with greater confidence. SOLVE Px is designed to support fixed income professionals who need to make quick, well-informed decisions in often illiquid markets. Built on AI models trained with over 300 feature inputs, including SOLVE's proprietary quote data, the tool delivers pricing that dynamically adjusts to reflect evolving market conditions, enabling buy-side and sell-side users to uncover trade opportunities, manage risk, and refine execution strategies. 'SOLVE Px takes price discovery to another level by providing accurate pricing on securities, regardless of their liquidity,' said Eugene Grinberg, CEO of SOLVE. 'This offering provides real-time insight into the next likely trade level for both investment-grade and high-yield corporate bonds. With predictive pricing, we're helping traders and PMs combine their market judgment with data-driven support to improve outcomes and capture opportunity faster.' SOLVE Px is designed to provide real-time, size-specific pricing data at Bid, Mid, and Offer levels as well as Price, Yield and Spread for each prediction. Delivered via the SOLVE Quotes web application, FTP and FIX feeds, and soon through APIs and Excel add-in, the solution enhances transparency and pricing accuracy by integrating two core components: SOLVE Quotes™ – crowd-sourced bids and offers from market participants, providing rich real-time pricing inputs: Real-time bid, mid, and offer levels delivered across 50,000+ daily securities and 20 million+ daily quotes. AI-Generated Predictive Pricing – a fully machine learning-driven model trained on hundreds of inputs derived from reference data, trade data, and quote data. Together, these components provide a more comprehensive and actionable view of corporate bond pricing. SOLVE Px supports decision-making for traders, portfolio managers, researchers, wealth managers, and investment leaders seeking to boost execution confidence and expand investment visibility. The launch of SOLVE Px for the Corporate Bond Market builds on SOLVE's recent rollout of its Relative Value Analysis tool for municipal bonds, a capability that now also supports corporate bonds. The solution brings powerful visualization capabilities that allow traders and portfolio managers to assess how a bond's value has changed over time, providing clearer context and deeper insight into price behavior in response to market conditions. Grinberg added, 'Combining SOLVE Px with our new Relative Value Analysis tool helps corporate bond traders uncover opportunities in volatile and dynamic markets with unmatched speed and precision. Together, they provide a fuller view of the market, layering real-time predictive pricing with historical context to support smarter trading decisions.' To learn more about SOLVE Px for the Corporate Bond Market, visit SOLVE's website. About SOLVE SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in New York, with offices across the globe, SOLVE is the definitive source for market pricing in Fixed Income markets. For more information, visit *SOLVE Px does not constitute Investment Advice and does not seek to value any security and does not purport to meet the objectives or needs of specific individuals or accounts.
Yahoo
09-03-2025
- Business
- Yahoo
State Street's PRIV Misses Mark on Private Credit Promise
The recently launched SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV) garnered widespread attention for its groundbreaking approach to private credit investing, but analysis reveals a gap between its marketing and reality. According to a research report from CFRA, the fund received Securities and Exchange Commission approval to exceed the standard 15% limit on illiquid securities stipulated in the Investment Company Act of 1940. Investors anticipated PRIV would hold between 10% and 35% of its portfolio in private credit instruments. Despite regulatory permission to increase private credit exposure beyond traditional limits, PRIV currently holds just 5% of its portfolio in private credit assets, according to CFRA, with the vast majority in highly liquid public securities that offer little differentiation from conventional fixed-income ETFs. The fund's current portfolio differs from the private credit focus many expected. CFRA's analysis shows 42% of PRIV's exposure is in public corporate debt, with another 19% in securitized agency mortgages and 15% in Treasuries or cash instruments. "While this ensures that its portfolio is liquid, it also makes it less differentiated relative to other fixed-income funds, since its constituents are widely held by mutual funds and other ETFs," wrote Aniket Ullal, head of ETF research at CFRA, and Sourav Srimal, senior vice president of solutions at SOLVE, in their joint report. The liquidity profile further underscores how conventional PRIV's current holdings are. Over 75% of the portfolio is classified as liquid, with 62% rated as highly liquid, based on Trade Reporting and Compliance Engine data aggregated by SOLVE. This liquidity composition contrasts with other private credit options like the BondBloxx Private Credit CLO ETF (PCMM) and VanEck BDC Income ETF (BIZD), which have fewer holders of their underlying securities, the report shows. On average, PRIV's constituents are held by 110 other mutual funds, exchange-traded funds or insurance firms, while PCMM's holdings average just four other holders, the report stated. Only 11% of PRIV's constituents were held by fewer than 10 other investment vehicles. The fund's yield reflects its conventional portfolio composition. PRIV's published yield to maturity, as of March 3, was 5.44%, lower than BIZD's 9.02% and PCMM's 7.44% 30-day SEC yields. PRIV's arrangement with Apollo Global Securities, which contractually agreed to provide intraday executable bids on private credit investments, appears largely unused given the fund's current highly liquid portfolio composition, according to the CFRA report. The report suggests that the ETF's composition could evolve: "Going forward, it seems likely that this actively managed ETF will start to take on more private credit that is sourced from Apollo." The agreement requires Apollo to publish three executable quotation sheets daily to buy PRIV-held securities sourced from Apollo, with quotes "no worse than those offered to similarly situated clients," according to the CFRA | © Copyright 2025 All rights reserved
Yahoo
08-03-2025
- Business
- Yahoo
State Street's PRIV Misses Mark on Private Credit Promise
The recently launched SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV) garnered widespread attention for its groundbreaking approach to private credit investing, but analysis reveals a gap between its marketing and reality. According to a research report from CFRA, the fund received Securities and Exchange Commission approval to exceed the standard 15% limit on illiquid securities stipulated in the Investment Company Act of 1940. Investors anticipated PRIV would hold between 10% and 35% of its portfolio in private credit instruments. Despite regulatory permission to increase private credit exposure beyond traditional limits, PRIV currently holds just 5% of its portfolio in private credit assets, according to CFRA, with the vast majority in highly liquid public securities that offer little differentiation from conventional fixed-income ETFs. The fund's current portfolio differs from the private credit focus many expected. CFRA's analysis shows 42% of PRIV's exposure is in public corporate debt, with another 19% in securitized agency mortgages and 15% in Treasuries or cash instruments. "While this ensures that its portfolio is liquid, it also makes it less differentiated relative to other fixed-income funds, since its constituents are widely held by mutual funds and other ETFs," wrote Aniket Ullal, head of ETF research at CFRA, and Sourav Srimal, senior vice president of solutions at SOLVE, in their joint report. The liquidity profile further underscores how conventional PRIV's current holdings are. Over 75% of the portfolio is classified as liquid, with 62% rated as highly liquid, based on Trade Reporting and Compliance Engine data aggregated by SOLVE. This liquidity composition contrasts with other private credit options like the BondBloxx Private Credit CLO ETF (PCMM) and VanEck BDC Income ETF (BIZD), which have fewer holders of their underlying securities, the report shows. On average, PRIV's constituents are held by 110 other mutual funds, exchange-traded funds or insurance firms, while PCMM's holdings average just four other holders, the report stated. Only 11% of PRIV's constituents were held by fewer than 10 other investment vehicles. The fund's yield reflects its conventional portfolio composition. PRIV's published yield to maturity, as of March 3, was 5.44%, lower than BIZD's 9.02% and PCMM's 7.44% 30-day SEC yields. PRIV's arrangement with Apollo Global Securities, which contractually agreed to provide intraday executable bids on private credit investments, appears largely unused given the fund's current highly liquid portfolio composition, according to the CFRA report. The report suggests that the ETF's composition could evolve: "Going forward, it seems likely that this actively managed ETF will start to take on more private credit that is sourced from Apollo." The agreement requires Apollo to publish three executable quotation sheets daily to buy PRIV-held securities sourced from Apollo, with quotes "no worse than those offered to similarly situated clients," according to the CFRA | © Copyright 2025 All rights reserved
