TL;DR:
- Genesis Global introduces AI-driven data services for asset managers.
- The solution automates the interpretation and extraction of bond deal information from emails and instant messages.
- Asset managers can now consolidate structured and unstructured data, creating a holistic view of the market.
- The AI-powered workspace accelerates deal evaluation and allocation requests.
- Genesis uses a private large language model (LLM) to ensure data privacy and customization.
- The AI components are part of the AI service layer within the Genesis platform.
- Integration with analytics, reference data, and compliance systems streamlines primary market workflows.
- Genesis estimates a daily influx of 40 new corporate bond deals with frequent updates.
Main AI News:
In the ever-evolving landscape of financial markets, Genesis Global has unveiled a groundbreaking development in its low-code application platform designed explicitly for organizations operating within this domain. The introduction of AI-driven data services into its platform marks a pivotal moment for asset managers seeking efficiency in the management of bond deals.
The intricacies of tracking bond deals entering the market have long presented a formidable challenge for asset managers. Syndicating banks employ a myriad of communication channels to relay critical deal terms and information. The consolidation of this data into a coherent, real-time overview has remained a daunting task, necessitating the harmonization of unstructured data from emails and instant messages with structured information sourced from platforms such as DirectBooks and Ipreo (S&P Global).
Genesis Global’s Primary Bond Issuance solution now offers an innovative AI-driven data service that seamlessly interprets and extracts crucial deal information contained within emails and instant messages. This extracted data is then intelligently amalgamated with information from various bond deal sources, providing asset managers with a comprehensive view of the market. This transformative approach is incorporated into a deal-focused workspace, expediting the evaluation of deals and the request for allocations.
Rahul Kambli, Product Manager for Primary Bond Issuance at Genesis Global, elaborates on the significance of this solution: “Our solution empowers asset managers to request allocations swiftly by creating a comprehensive view of the primary bond market, bridging the gap between structured and unstructured data. AI proves to be the ideal technology for processing bond deal data, given the diverse ways in which syndicating banks present information through email and chat.”
Genesis leverages a private large language model (LLM) to interpret and extract financial data from unstructured text. This approach not only ensures the privacy of client data but also allows for customized training of the model for specific use cases, fine-tuning its performance, and controlling costs effectively.
The AI components integrated into the Primary Bond Issuance solution are derived from the AI service layer embedded within the Genesis platform, which underpins all Genesis solutions. Tej Sidhu, Chief Technology Officer at Genesis Global, emphasizes the platform’s transformative potential: “Genesis acts as a catalyst for technology adoption by seamlessly incorporating the advantages of AI into a framework already familiar to financial firms. Innovations like the bond deal data processor are part of the AI service layer that enhances the functional, technical, and financial components of the Genesis application development platform.“
Beyond data consolidation, Genesis’s Primary Bond Issuance solution seamlessly integrates with an asset manager’s analytics, reference data, compliance, and order management systems, creating a unified environment for all primary market workflows. Additionally, it offers embedded collaboration tools and alerts, facilitating efficient decision-making for portfolio managers, credit analysts, and traders.
Genesis estimates that, for corporate bonds alone, an average of 40 new bond deals enter the market daily, each subject to approximately 30 updates. This remarkable transformation empowers asset managers to navigate this dynamic landscape with unprecedented ease and precision, enhancing their ability to seize opportunities and make informed decisions.
Conclusion:
Genesis Global’s AI-driven solution significantly enhances efficiency and accuracy for asset managers in managing bond deals. This transformative technology simplifies data consolidation, expedites decision-making, and empowers asset managers to navigate the market dynamics with greater agility, ultimately leading to more informed investment decisions.
