Overbond Deploys Swap Pricing Tool for Fixed Income Market

The new tool also marks the first institutional-grade swap calculator for fixed income capital markets participants.

Overbond, one of the first fintech platforms in the new bond issuance market, has launched a new Corporate Bond Intelligence Tool (COBI) Swap Pricing calculator, offering a wide range of analytics and visualization capabilities for capital markets participants.

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The new module will aim to help treasurers more effectively evaluate funding costs across multiple currencies and markets in real-time. Overbond’s COBI Swap will also be powered by Thomson Reuters data – the tool also marks the first institutional-grade swap calculator for fixed income capital markets participants, on a non-subscription basis.

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One of the primary impetuses behind the deployment of the new COBI Swap tool was a growing demand for Canadian corporations issuing bonds offshore in the US and Europe – this figure was on the rise over the past few years, soaring to fresh highs in 2016. The COBI Swap will help enable improvements across the fixed income market, with better access to offshore bond markets and funding costs.

The new tool is important for fixed income participants given the feature for real-time swapped equivalent rates as well as instantaneous computation of CAD and USD single currency interest rate and cross-currency swap rates.

Vuk Magdelinic

According to Vuk Magdelinic, CEO of Overbond, in a statement on the launch: “Timely and accurate swap pricing is an essential tool that enables treasurers to more opportunistically access international markets to meet their debt funding requirements.”

“This app is a continuation of our fresh, innovative, and transparent approach to providing bond market participants with a diverse offering of critical capabilities and insights. We are pleased to offer this new technology industry-wide as an open platform, accessible on a non-subscription basis,” he added.

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