NEW YORK, Sept. 20, 2021 /PRNewswire/ -- 7 Chord,
Inc., an independent provider of predictive sovereign and corporate
bond prices to fixed income traders, issuers, and institutional
investors, announces the appointment of Andrew Sundstrom as its Chief Science Officer.
Andrew will lead the new phase of development and innovation of
BondDroid®, 7 Chord's award-winning
proprietary machine learning engine, that nowcasts bond prices,
credit spreads, and yields in real-time.
Andrew is a seasoned engineer and researcher with 28 years of
cross-disciplinary scientific and industry experience at Nortel
Networks, IBM Research, Morgan Stanley, and recently at
Nanotronics, where he developed artificial intelligence methods to
make factories smarter and more resilient to errors and
sophisticated cyberattacks. Andrew has multiple peer-reviewed
publications and issued patents. He has a BA in computer science
from Cornell University, an MS in
computer science, and a Ph.D. in computational biology from the
Courant Institute of Mathematical Sciences at NYU.
"We are excited to welcome Andrew to 7 Chord's leadership team.
The breadth of his applied AI experience across disciplines such as
computational biology, computer vision, natural language
processing, cybersecurity, and smart manufacturing gives him a
fresh perspective on the analytical problems we encounter while
bringing pre-trade transparency to fixed income. As we expand our
AI pricing to corporate bond markets globally, his out-of-the-box
thinking will be invaluable," said Kristina
Fan, 7 Chord's CEO and Co-Founder.
In contrast to most machine learning systems trained on
historical data and best suited for academic studies,
BondDroid® is optimized for the live
trading environment and designed to adapt its behavior in real-time
in the face of unexpected events such as a global pandemic or a
sudden change in the default risk of an issuer. The idea to build
such an adaptable AI engine was born in the aftermath of the 2008
financial crisis and was pioneered in the dissertation research of
Roy Lowrance, Co-Founder of 7 Chord
and former CTO of Reuters, among his 40 years of industry
experience.
"I've worked with Andrew off and on for about a decade, starting
from when we were computer science doctoral students at
New York University. Back then, he
attended the lab sessions where I discussed my work on
auto-correction of concept drift, so he witnessed the origins of
BondDroid®. I look forward to working with
him more directly as he further develops our predictive pricing and
analytics engine. Welcome aboard, Andrew," said Lowrance.
"I was always fascinated with the problems inherent in
predicting market prices: representing human judgment and intuitive
decision making, signaling games and revealed preference, causal
inference, and concept drift away from stationary distributions. I
see tremendous potential for adaptable AI beyond finance and am
excited to take BondDroid® to a new level,"
said Sundstrom.
Joining Andrew is Tinatin Nikvashvili, a 2021 graduate of
NYU's Center for Data Science MSc
program, who was an intern at 7 Chord during the previous academic
year. "I am excited to be solving cutting-edge problems related to
financial time series alongside Andrew and learning from his
experience in deploying machine learning in a real-world setting,"
said Nikvashvili.
About 7 Chord
7 Chord, Inc. is an independent provider of predictive pricing
and analytics. BondDroid®, its
award-winning proprietary AI engine, is used by traders and
investors to stream predictive prices and signals for bonds.
Optimized for the live trading environment,
BondDroid® can be installed as a
customizable software package that extracts signals from public,
vendor, and a client's proprietary data without ever leaving its
corporate environment. Don't want to manage AI in house? We offer a
managed cloud pricing solution that leverages 7 Chord's computing
power and curated data sources. www.7-chord.com.
Media:
press@7-chord.com
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SOURCE 7 Chord Inc