Boston and New York (PRWEB) June 06, 2017
FinTech Sandbox, one of the top fintech accelerators that provides financial technology startups with free access to financial data and infrastructure, welcomed 7 Chord as a resident of its six-month program.
FinTech Sandbox, whose alumni include startups such as Quantopian, ForwardLane, Pit.ai and Alpaca, understands the data needs of an early stage A.I. innovators like 7 Chord. 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.
“Algorithmic credit trading is still in its naissance. When working with data providers we often are the first to request a certain training dataset. We see this not as an obstacle but as an opportunity to partner with forward-looking firms who understand that the manner in which market participants consume data is rapidly changing. Together we can develop products and services that benefit the bond trading community of the future”, said Gokul Chebiyam, Co-founder and Trader at 7 Chord.
FinTech Sandbox was founded in Boston by a group of FinTech entrepreneurs and investors who recognized that the high cost and inaccessibility of data poses a consistent challenge to FinTech startups, especially those in asset classes like credit or fixed income dominated by large institutional players. Backed by industry leading financial institutions, data providers and venture capitalists, the organization helps FinTech entrepreneurs overcome this barrier to entry.
About FinTech Sandbox
FinTech Sandbox is a Boston-based nonprofit founded to promote financial technology innovation globally by providing free access to critical data and resources to FinTech entrepreneurs and startups. Sponsors include Fidelity Investments, F-Prime Capital, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, State Street Corporation and Goodwin. For more information, please visit http://www.FinTechsandbox.org.
About 7 Chord
7 Chord is a quantitative trading firm that uses the latest advances in machine learning to automate pricing and execution in the corporate bond market. 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. For more information, please visit http://www.7-chord.com or follow on Twitter @7chordbd