OpenYield Trading LLC is now enabling retail investors to trade bonds just like stocks.
OpenYield is a FINRA-registered broker-dealer and SEC-registered alternative trading system (ATS).
According to a statement issued by the company, market makers Flow Traders and TD Securities Automated Trading are servicing the platform. OpenYield has also onboarded Apex Clearing, which supports over 100 brokerages with a combined AUC exceeding $100 billion. More partnerships are said to be in the queue, including Fintechs.
OpenYield states that it addresses a range of challenges in fixed-income investing that have made it difficult for smaller investors to trade bonds. Additionally, OpenYield says it simplifies bond selection by curating liquid bonds across corporates, municipal, and Treasurys.
Jonathan Birnbaum, founder & CEO of OpenYield, issued the following statement:
“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.”
Founded in 2023, OpenYield has raised money in funding rounds led by Fin Capital in 2023 and says it has backing from TD Bank. The company became a broker-dealer in Q4 of 2023.
