Overbond, a digital platform for primary bond issuance, has announced that it will be expanding its presence in the US by opening an office in New York’s Grand Central Tech.
The company, which gives investment banks and institutional investors access to the primary fixed income market, is also providing real-time access to its platform for all US corporate issuers and institutional investors. In extending its key functionality through desktop and mobile applications for all operating systems, Overbond said it is targeting a $40 trillion US bond market.
The Toronto-based company has appointed a cross-border, senior Overbond Advisory Board to oversee this expansion with expertise in capital markets, investment banking, and financial technology. Board members include NYC-based Jamie Grant, global head of fixed income and enterprise market data at Thomson Reuters; Grace Schalkwyk, CEO of Gramercy Digital Strategy Advisors; Jose Luis Frias, senior corporate finance and debt capital markets executive; and Gyan Chandra, VP at IBM Canada.
“Overbond’s proprietary machine learning and powerful predictive analytics capabilities are now delivering real-time credit investment opportunities to investors via mobile and desktop applications and smart notification systems on both iOS and Android devices,” the company said in a statement. “It will extend the service’s reach to 5,000 new US-based market participants to bring a new supply of bond issuance, creating much needed new liquidity in the corporate debt markets.”
Overbond has been working with Egan-Jones Rating Company (EJR), Moody’s, Standard & Poor, Thomson Reuters, and DBRS to develop its big data analytics suite and credit ratings data.
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