SOLVE Acquires Municipal Bond Market Solution Provider Lumesis
Lumesis’ DIVER Product Suite Broadens the Reach of SOLVE’S Market Data Platform
ROCKVILLE CENTRE, N.Y., Sept. 29, 2022 (GLOBE NEWSWIRE) — SOLVE Advisors, Inc., a market data platform provider for fixed income securities, today announced that it has acquired Lumesis. The Lumesis DIVER product suite is a leading municipal bond solution allowing clients to track primary and secondary municipal bond markets, support the new issue pricing process and satisfy new issue “reasonable diligence” and retail time of trade regulatory requirements. DIVER will be integrated into SOLVE’s Market Data Platform, expanding its reach across all key asset classes – corporate credit, securitized products, and municipals. This follows SOLVE acquisitions of Advantage Data and Best Credit Data earlier this year.
Industry-leading firms today trust SOLVE to reduce the risk of having incomplete or stale price data and save hundreds of hours in pre- and post-trade research and validation. SOLVE will integrate Lumesis’ products, operations and teams into its existing organization. The DIVER product suite, upon integration, will bolster SOLVE’S Market Data Platform with additional municipal asset class workflow, analytics tied to price transparency and regulatory-related solutions.
“We are thrilled to welcome the Lumesis team into the SOLVE family. By adding the best-in-class Lumesis DIVER product suite to SOLVE’S platform, our customers will now have access to unmatched municipal bond data and analytics,” said SOLVE CEO Eugene Grinberg. “This is another important milestone for SOLVE as we continue to scale the business.”
Lumesis co-founders Gregg Bienstock and Tim Stevens and Lumesis’ employees will join the SOLVE team. “We are excited to join SOLVE and look forward to leveraging our collective multi-asset class fixed income market expertise to broaden the reach of DIVER within SOLVE’S Market Data Platform,” said Gregg Bienstock. “The complementary nature of our data, analytics and market presence make this an exciting opportunity to leverage our respective strengths to deliver urgently needed solutions for the fixed income markets,” said Tim Stevens.
About SOLVE Advisors, Inc.
SOLVE is a leading market data platform provider for fixed-income securities. Industry-leading firms trust the SOLVE Market Data Platform, powered by Deep Market Insight™, to reduce risk for securities investments and save hundreds of hours in pre- and post-trade research and validation. Founded in 2011, SOLVE has developed the largest datasets of real-time bids, offers and market color across Structured Products, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Municipal Bonds. With locations in the US, UK, India, Caribbean, and APAC, SOLVE is the leading provider of market pricing in fixed-income markets. The SOLVE market data platform aggregates real-time bids, offers, BWIC price talk and covers, and other market data, helping to provide unparalleled price transparency and liquidity monitoring. The powerful workflow tools eliminate the hassle of the BWIC process, consolidate dealer inventories and two-way markets, and streamline month-end for the back office. The SOLVE team, headed by Co-Founders Eugene Grinberg and Gerard Nealon, has extensive expertise and passion for financial markets and developing innovative technology. More information about SOLVE can be found at www.solveadvisors.com
About Lumesis Inc.
Lumesis provides software and data solutions for the US municipal market. Founded in 2010, the DIVER platform serves constituents across the municipal market with business and regulatory solutions. The DIVER platform serves thousands of users across its diverse client base of banks, broker-dealers, municipal advisors, investment advisors, institutional investors and issuers.
Media Contact: Tony Keller, tkeller@outvox.com
