Bitvore Corp. has opened up its intelligence platform to other companies that have built their own in-house portfolio management and trading platforms or are third party developers of these systems.
The intelligence platform will now include precision news about material situations in specific obligors and issuers for integration within trading and research applications, Bitvore said in a press release Tuesday. The new Application Programming Interface addresses the widespread demand for Bitvore's information within the context of trading and analysis workflows, the company said.
"The new API allows programming teams in public finance to enhance their desktop and web applications to present a complete picture of the current credit situation in municipal issuers," said Jeff Curie, Bitvore's chief executive officer. "The API allows software development teams to present issuer-specific, contextual news at the same moment trading and research teams need to understand the changing situation."
Curie said that the upshot is that contextually relevant material news about a specific issuer will now be integrated directly into the software that traders, analysts and underwriters are already using.
Used by the buy-side, sell-side and rating agencies, Bitvore's precision news and intelligence provides advantages during trades and research as well as compliance, according to the company. Bitvore monitors large and small issuers across the industry for 308 different material situations that affect credit risk. The system monitors over 17,000 sources of news and analysis.
"It's about getting the right information to the right person at the right time," said Tom Vales, CEO at TMC Bonds. "Offering the news as a plugin to other software lets the industry benefit from the information without having to exit the software they use on their desktop."
