RiskTech Forum

Covalent Capital Taps Bond Pricing Data by IHS Markit

Posted: 3 October 2017  |  Source: Markit


IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that Singapore-based fintech company Covalent Capital has selected Bond Pricing Data by IHS Markit for its flagship OMAS platform.

Covalent Capital’s OMAS is a shared services platform that works as a centralized exchange, bringing together all market participants during the debt issuance process, thereby revolutionizing the bond distribution process in the Asia Pacific region.

Covalent Capital will use IHS Markit Fixed Income Pricing Data as its primary source for bond performance analysis. OMAS will also offer paywall access to IHS Markit Bond Issuer Curves, a value analysis product that buckets issuer curve risk. OMAS capabilities include algorithmic and customized allocation, online book building tools, real-time new issue information and news, and an interactive interface between multiple parties in a highly secure environment. 

Sanjay Garodia, founder and CEO of Covalent Capital said, “The Asian bond markets have witnessed tremendous growth in both volume and breadth of underwriting banks and investors. The current process still involves a lot of manual intervention and iterations. A product like OMAS will substantially increase productivity and transparency in bond issuance.”

“Covalent Capital brings new thinking and transparency to the debt issuance space with the launch of its innovative OMAS platform,” said Sage Patel, executive director of fixed income at IHS Markit. “As a leading provider of fixed income data, we are excited to be supporting a highly experienced team of professionals at Covalent Capital who are building this innovative startup leveraging our fixed income datasets at a time when transparency, efficiency and high quality data are needed to make key investment decisions in a diverse region such as Asia Pacific.”     

IHS Markit is a leading provider of independent pricing and liquidity data for fixed income instruments to support risk management, price verification, compliance and trading workflows.