Early pricing clients include FMSbonds; Recent investment from Simplex Ventures reinforces quantitative potential in municipal data market

CHICAGO: #municipalbonds--Spline Data, a quantitative U.S. municipal bond data provider, today announced the successful release of its second municipal bond data product that provides real-time bid/ask pricing estimates to its growing list of customers. Spline’s new pricing data feed aims to utilize every trade in the municipal market—similar to its yield curves launched in 2023—and in contrast to traditional data feeds skewed toward institutional round lots. Updating every five minutes, Spline’s pricing feed offers a plug-and-play solution for building automation into municipal trading strategies.

“As in many other markets, most of the software needed to trade municipal bonds in an automated fashion is available off the shelf, but a critical missing piece has, until now, eluded most desks: algo-quality pricing,” said Matthew Smith, founder and CEO of Spline Data. “In the past year, we’ve seen firsthand how quickly Spline customers’ businesses evolve utilizing our curves alone. Real-time pricing was the logical expansion of our product portfolio, and we are pleased to see quick adoption and immediate progress from new and existing customers alike.”

The rapid adoption of Spline’s pricing product in recent weeks, alongside an investment from Simplex Ventures, the venture capital arm of proprietary trading firm Simplex Trading, solidifies the value of Spline’s quantitatively derived data to the municipal trading community.

“As investors in Spline, we’ve seen firsthand the team’s passion for driving transformation in the municipal bond industry,” said Kate Kitto, head of venture capital at Simplex Ventures. “With our recent investment, we look forward to Spline’s continued and exponential growth, creating a positive and lasting impact in the way their customers do business.”

FMSbonds, Inc., an early user of Spline’s pricing product, has dramatically reduced its time to market for its new municipal bond algorithm. "Spline’s holistic, quantitative approach to pricing, combined with ease of application, allowed our team to develop new market-making capabilities in record time while also freeing up resources to build out differentiated relationships with our customers," said Chad Wildman, executive director of quantitative strategies at FMSbonds. “Spline’s pricing product delivered the research and development efficiencies we look for when choosing data providers and immediately enhanced our competitive edge in the rapidly evolving municipal bond market.”

“Spline’s team, including its investors, comprises municipal bond markets experts who have correctly identified what the trading community requires to modernize the market as a whole,” said Matthew Smith. “Our mission continues: Spline enables more efficient municipal trading capabilities, and as a result, increases liquidity and opportunity in the municipal market.”

Information regarding Spline’s pricing and curve products can be found at splinedata.com.

About Spline Data

Spline Data is the creator of quantitatively driven yield curves and pricing data for the municipal bond market, providing professional and institutional traders with actionable and innovative market data solutions. Based in Chicago, Spline formed in 2022. For more information, please visit splinedata.com.

About Simplex Ventures

Simplex Ventures, the venture capital arm of Simplex Trading, a leading, technology-driven proprietary trading firm, invests in early-stage companies that are shaping the future of finance. Through its strategic investments, Simplex Ventures creates truly collaborative partnerships with visionary founders of business-to-business (B2B) companies who are driven to disrupt and transform their respective industries. Learn more at simplextrading.com/simplex-ventures.

Fonte: Business Wire