Investment firms are crunching data and harnessing technology to cut trading costs, save time and avoid errors in markets where bonds trade infrequently.
The robots have just got a step closer to managing your money.
AllianceBernstein Holding LP upgraded its virtual assistant Abbie so she can now suggest the best bonds to buy and sell based on pricing, ease-of-trading and risk. Unlike any human, she can scan millions of data points to filter the universe of outstanding bonds in seconds and identify potential trades to portfolio managers using other electronic tools the firm has built.
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