Allianz Global Investors is the third asset manager to join the corporate bond data pooling network Glimpse Markets as the startup prepares for its launch.
Glimpse Markets founder and CEO Paul O’Brien confirmed in a post on social media that Allianz has signed up with the data sharing platform as it prepares to go live in the coming months.
The alliance follows Paris-based Groupama Asset Management, which became the first buy-side organization to join the network last month. O’Brien told The TRADE that to date a total of three asset managers have agreed to use the data pooling service.
“We are very excited to have Allianz Global Investors join the Glimpse data exchange network,” added O’Brien. “This is another big step in the right direction and a further validation of our business model. It is exciting to see the buyer side recover around this idea and come together to address the longstanding post-trade data problem for corporate bonds. “
O’Brien outlined plans for the start-up in August, saying that more than 20 asset managers would go through legal review processes to become part of the corporate bond data pooling network.
Glimpse Markets aims to provide traders in Europe with a consolidated bond for the credit markets that bond traders in Europe have long sought. The platform can be used for free with a “give to get” model to motivate buyers to share their trading data. The platform is scheduled to start at the end of this year.
“Ultimately, this is data that buy-side buyers currently don’t have access to and that is in great demand because the compound prices that many rely on today are just an estimate of the state of the market,” O’Brien told The TRADE at the time.
O’Brien is a seasoned fixed income product manager, most recently with the London Stock Exchange Group’s MTS bond trading platform as head of buy-side solutions and electronic fixed income trading. He has also spent time building platforms for algomi and etrading software throughout his career.