OpenYield operates an electronic fixed income marketplace providing automated liquidity for trading Corporates, Municipals, and Treasurys. The platform delivers firm, live quotes and low-cost execution to institutional participants including asset managers, advisors, and brokerages. It offers flexible APIs and modern technology to streamline bond trading workflows and improve market access.
Funding
$7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The fixed income market is characterized by manual workflows, rigid frameworks, and opaque fee structures, hindering efficient trading and accessibility for various institutional participants. Retail brokerages, advisors, and asset managers face challenges in sourcing bond inventory, trading efficiently, and delivering superior fixed income offerings due to these outdated processes.
Solution
OpenYield operates an automated bond marketplace that provides firm, live quotes for corporate, municipal, and Treasury bonds, enabling broker-dealers, advisors, and asset managers to trade efficiently with no minimum order requirements. The platform offers a modern trading experience with automated liquidity, competitive fees, post-trade settlement flexibility, and ticket aggregation. OpenYield's flexible APIs, modern tech stack, and data services facilitate easy integration, allowing institutional participants to access a robust pool of automated liquidity and enhance their fixed income offerings. The platform's design promotes efficient trading through modern technology, 100% firm quotes, and competitive pricing, addressing longstanding obstacles within the fixed-income sector.
Target Audience
OpenYield primarily serves retail brokerages, advisors, asset managers, and market makers seeking efficient trading and attractive bond investing solutions to service their clients.
Features
- Automated liquidity with firm, live quotes for efficiency and flexibility
- No minimum order sizes, catering to users trading one bond or hundreds
- Competitive fees, post-trade settlement flexibility, and ticket aggregation for low costs
- Flexible APIs, a modern tech stack, and data services for easy integration
- Central limit order book with price/time priority
- Accepts only firm (limit or market) orders for immediate execution
- Multiple market makers submitting continuous firm orders
- Low-cost venue designed for competitive pricing
- Synthetic current market price aggregated from third-party sources for price monitoring
- Price tolerance limits to block orders with prices outside acceptable ranges
- Regular and rigorous review of executions for analysis and market competition