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Adaje
Software program as a service platform Adaje acquired Munex, the bond structuring software program from Ferrand Consulting Group, and employed 25-year muni veteran Jon Sidman as its chief product officer.
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Munex is utilized by bond underwriters, municipal advisors, regulation companies and defeasance desks.
“We’re thrilled to welcome Jon as our chief product officer and actually carry the entire Munex group into the Adaje household,” stated founder and CEO Dan Silva.
Jon has “spent a long time within the trenches of public finance, constructing, supporting and iterating on workflows,” Silva stated. “And that have is simply extremely uncommon, so it made a variety of sense for us to determine a approach to work collectively.”
Sidman, who was a associate at Munex and developed its software program, stated he solely turned accustomed to Adaje lately.
“My first impression left little doubt: That is the way forward for bond structuring software program,” he stated in an emailed assertion, pointing to Adaje’s cutting-edge know-how stack and built-in AI.
“What impresses me most is that Adaje is doing this in an business that isn’t traditionally recognized for such innovation,” he stated.
Silva stated the plan is to ease Munex clients to the Adaje platform, “with a transparent runway and no disruption.” He stated they’ve discovered AI works greatest as a layer between clients and the core Adaje mannequin; Adaje is nice at bond math and bond structuring, and AI is nice at turning person language into evaluation.
Adaje plans to unveil “advances in tech, some new capabilities” very quickly, Silva stated. “Whenever you begin desirous about an AI powered bond modeling resolution, Jon’s expertise in delivering a bond structuring resolution that individuals clearly cherished goes to actually assist in guiding that course of ahead.”
Sidman promised an “eye-opening” expertise for Munex clients who transition to the Adaje platform.
“I used to be an analyst for a very long time, and also you provide you with all these nice concepts, and it is like, man, now we have simply acquired to seek out the time to really run these numbers,” Silva stated. “And that facet of it, I feel, goes to go away actually quickly. The time to really run the numbers goes to be trivial.”
Already, Adaje’s strikes to include AI into their software program have been “a game-changer,” stated Nick Bryant, senior quantitative analyst at Robust Capital Markets. “It lower the time in half.”
Bryant turned to Munex to assist cope with advanced bond structurings.
He then acquired to know Sidman, who supplied tech help. “Munex was at all times my go-to as a result of I might name up there and get assist instantly,” Bryant stated.
He advised Adaje about Sidman.
Adaje has the AI implementation down, Bryant stated, “however Jon Sidman has 20 years of expertise working with real-world issues and real-world bond points,” he stated.
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