A new version of a virtual assistant called Abbie can suggest the best bonds to buy or sell, taking into account pricing, ease of trading, and risk.
What is it? The bot, built by asset managers AllianceBernstein Holding, scans millions of data points within seconds to find potential trades and suggest them to the company’s portfolio managers. It can find bonds people may have missed, spot human error, and communicate with other bots, Bloomberg reported today. The original version was launched in May 2018 and handled bond trades worth nearly $19 billion in the first three months. But it was far more limited and needed more precise instructions from human traders.
