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The
Bond Market Powering Retail

Making it easy for broker-dealers, advisors and asset managers to offer attractive bond investing solutions to retail clients.

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Simplifying
Fixed Income Investing

Buying bonds can be as easy as buying stocks. That’s why we’ve built a modern marketplace that makes it simple for institutions to provide their retail clients with the income, growth and reliability of fixed income.

Become a Client
Become a Market Maker

Unique Liquidity

We’re algo dealer-enabled, eliminating “last look” privileges and requiring dealers to offer only firm, live quotes. We’re also simplifying bond selection by offering investors a curated set of the most liquid corporates, municipals and Treasurys. With OpenYield, what investors see is what they get.

No Minimums

There are no minimum order sizes on our marketplace, enabling you to satisfy the needs of all your retail clients, whether they want to purchase one bond or hundreds.

Flexible Technology

Our flexible APIs, modern tech stack and data services – including price history, yields and cash flows – give you everything you need to enter the bond market or enhance your current offerings.

A Low Cost Marketplace

With an aggressive pricing schedule and the ability to optimize post-trade fees through batch settlement, OpenYield is on a mission to minimize costs for small tickets.

In Pursuit of Innovation

Our team has successfully built and scaled both retail and institutional fixed income investing platforms in the past. Today, we’re combining modern technology with an innovative market model to deliver the industry’s biggest transformation yet.

Team

Jonathan Birnbaum

Founder & Chief Executive Officer

Hilton Lipschitz

Co-Founder & Chief Technology Officer

Alan Reed

General Counsel & Chief Compliance Officer

Gabe Vallejo

Head of Operations

Advisors

Steve Zamsky

Simon Maisey

Our investors give us the strong backing and strategic guidance we need to provide an elevated retail bond trading experience.

Informing the Market

We’re helping firms serve their retail clients with the power of bond investing, and we want you to hear about it. Watch this space for our latest announcements, media hits and industry perspectives.
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Careers @ OpenYield

We are a diverse group of fintech, capital markets and hedge fund practitioners – and we want you to join our ranks. Work with us and you’ll play a key role in our mission to simplify bond investing.

Explore Careers

Request a Demo

Our modern bond marketplace enables you to serve clients with modern technology, 100% firm quotes and aggressive pricing. This is the bond market you’ve been waiting for. Reach out to us today.

Email us directly at intro@openyld.com

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  • © 2024 OpenYield Inc.

OpenYield Trading LLC, a wholly-owned subsidiary of OpenYield Inc., is an SEC registered broker dealer and a member of FINRA/MSRB/SIPC.
Securities products and services are provided by OpenYield Trading LLC. FINRA BrokerCheck reports for OpenYield Trading LLC are available at: https://brokercheck.finra.org/

The Bond Market Powering Retail

Our modern bond marketplace enables you to serve clients with modern technology, 100% firm quotes and aggressive pricing. This is the bond market you’ve been waiting for.

Reach out to us today.

Jonathan Birnbaum

Founder & Chief Executive Officer
Jon’s career interests are in transforming financial services in capital markets and wealth management. Jon previously served as COO of Domain Money, where he designed an innovative platform that seamlessly integrated crypto and equity investing for retail investors. Prior to that, he helped scale SoFi’s retail brokerage business as a General Manager. Before entering fintech, Jon headed fixed income execution at Bridgewater Associates and served as COO of U.S. credit trading at Morgan Stanley. He began his career as a trader on Morgan Stanley’s emerging markets credit desk, where he consistently sought to automate his daily tasks. Jon earned an MBA from Columbia University and holds dual degrees in Computer Science and Finance from MIT. When he’s not attempting to revolutionize the financial industry, Jon spends quality time with his wife and three young kids, lifts weights in his basement gym or is engrossed in a game of online chess.
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Hilton Lipschitz

Co-Founder & Chief Technology Officer
Hilton boasts an impressive 33-year track record in systems and technology, with a focus on workflow, trading, accounting, risk management and data management across diverse industries such as finance, retail, risk and consulting. His expertise has led to the successful creation and operation of three fixed income trading platforms built from the ground up, showcasing his passion for technology and finance. Hilton’s extensive experience includes a nine-year tenure as CTO at Maritime Capital, where he spearheaded the development of electronic market making for municipal and corporate bonds. Before that, he held CTO positions at Agamas Capital Management in New York and Simplex Asset Management in Japan, further solidifying his leadership and expertise in the industry. He holds a degree from the University of Cape Town. When’s he’s not designing and building the next-generation bond marketplace, Hilton can be found fishing off his boat in the Long Island Sound, hiking the local trails or contending the minutiae of Formula 1 racing.
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Alan Reed

General Counsel & Chief Compliance Officer
Alan is a seasoned regulatory attorney and compliance expert, bringing a wealth of knowledge and leadership experience to the table. At the crossroads of trading and technology, Alan has held prominent legal and compliance roles at esteemed organizations such as BIDS Trading, Instinet, Macquarie Capital and Coinbase. Early in his career, Alan honed his skills as a senior attorney at the U.S. Securities and Exchange Commission, serving in the Division of Market Regulation (now known as the Division of Trading and Markets). He earned a JD from The Catholic University of America and a BA from the College of William & Mary. In addition to his keen interest in financial regulation, Alan is an avid skiing enthusiast and enjoys attending live music events.
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Gabe Vallejo

Head of Operations
Gabe is an experienced operator dedicated to building and scaling new technology for retail and institutional investors. In his most recent role, he served as CCO at Rho Technologies, a digital finance platform, where he also held the position of CEO for the firm’s RIA. Prior to Rho, Gabe was Head of the US Wealth and Trading department at Revolut and served as CEO of the firm’s broker-dealer arm. Before immersing himself in the fintech world, Gabe was an SVP at Neuberger Berman, acting as a senior operations manager, portfolio analyst and trader. His previous roles include Head of Operations at Orchard Square Partners and VP at Ramius. He earned a degree in economics from Boston University. Outside of his professional life, Gabe can be found mountain biking in the woods or surfing with his two daughters at the beach.
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Steve Zamsky

Advisor

Steve brings nearly three decades of experience in the bond market as a trader, investor and analyst. Most recently, he spent nearly a decade at Morgan Stanley, where he served as COO of the Global Fixed Income division for over three years and Head of Credit Trading for over six years. Previously, he was a portfolio manager at Pequot Capital. Steve began his career as an analyst and strategist at firms including Morgan Stanley and Fidelity Investments. He earned an MBA from the University of Chicago and a BS from Oregon State University.

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Simon Maisey

Advisor

Over his 25-year career in financial services, Simon has been instrumental in scaling multiple innovative trading venues and supporting key market structure initiatives. He is currently Managing Director, Strategic Partnerships at LMAX Group, which he joined following a successful eight-year tenure as a Managing Director at Tradeweb. In both roles, he has played a key role in driving corporate strategy and bringing about differentiated trading experiences. Simon began his career at J.P. Morgan, where his titles included Managing Director and COO for a variety of fixed income and currencies businesses. He holds a masters degree from the University of Oxford.

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