Machine Learning Corporate Bond Start-up is Selected to Join Boston Data Accelerator
Summary
7 Chord uses the latest advances in machine learning to automate pricing and execution in the corporate bond market and intends to use its software to provide liquidity on electronic trading platforms. “7 Chord’s unique fixed income product focused in a sector desperate for modernization underscores the invaluableness of free data access in overcoming entry barriers and building out entirely new innovations.”, said Jean Donnelly, Executive Director at FinTechSandbox. Backed by industry leading financial institutions, data providers and venture capitalists, the organization helps FinTech entrepreneurs overcome this barrier to entry. Sponsors include Fidelity Investments, F-Prime Capital, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, State Street Corporation and Goodwin. The team consists of Wall Street veterans, computer scientists, and trading technologists who believe that there is significant opportunity to capitalize on the rapid electronification of the $8 trillion corporate bond market.