OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

OpenYield Trading, a new player in the bond trading industry, has gone live with its SEC and FINRA-registered alternative trading system (ATS) that addresses fixed-income investing for broker-dealers, advisors, and asset managers.

Traditionally, bond trading has been bogged down by indirect quote systems and operational inefficiencies. However, OpenYield’s use of pricing algorithms and a streamlined bond selection process promises a more straightforward and reliable investing experience. Its system is designed to cater to both seasoned players and new entrants in the bond market, offering tools and services that simplify bond trading.

Top tier market makers, no minimum investments, data and analytics

The bond trading platform promises equity-like trading experiences in the bond market with features like unique liquidity, no minimum investments, and flexible technology that offers comprehensive data and analytics.

OpenYield has already onboarded algo-enabled market makers such as Flow Traders and TD Securities Automated Trading, as well as Apex Clearing, supporting over 100 brokerages and an asset under custody (AUC) exceeding $100 billion.

Addressing longstanding challenges in fixed income investing, OpenYield features algo-driven liquidity, instant execution of trades with 100% firm prices, and a modern architecture that supports automated trading. Moreover, the platform is designed to be cost-effective for trading in small tickets, with an emphasis on odd lot economics and tiered liquidity pools.

“The bond market is primed for its next chapter”

Jonathan Birnbaum, Founder & CEO of OpenYield, stated: “The bond market is primed for its next chapter. The rise of interest rates has catalyzed the demand side for fixed income, while the rise of electronic trading and pricing algos has transformed the supply side liquidity. Meanwhile, the experience of interacting with the bond market for investors and advisors hasn’t changed, leaving much to be desired. We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Marty Mannion, Co-Head of TD Securities Automated Trading, commented: “Greater use of technology and automated trading protocols are transforming the execution process in fixed income markets. We are excited to be working with OpenYield to help deliver actionable liquidity to their innovative platform, with the goal of creating a premier execution experience for investors.”

Jason Wallach, VP & Head of Capital Markets at Apex Clearing Corporation, said: “Our goal is simple: provide cutting-edge technology enabling fixed-income products to be traded with the same agility as equities. We’re thrilled to support OpenYield as they pave the way for broker-dealers, advisers, and beyond to enter the bond trading arena seamlessly. We’re not just participating in the next chapter of capital markets; we’re actively shaping its future.”

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