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Transforming
Bond Trading

Our mission: to evolve the standards of fixed income trading through technology and collaboration.

Our Story:

Where Opportunity Meets Experience

OpenYield was founded in response to a powerful trend transforming the fixed income market: algorithmic liquidity. Rather than requiring a human trader to respond to a request to price and confirm a trade, the most sophisticated trading desks have built out automated capabilities to continuously provide firm, executable prices. 

Further catalyzed by a rise in demand for yield, OpenYield launched its marketplace in 2024 to reflect this new and growing reality. Informed by our varied experiences on the buy side, sell side and building multiple leading-edge fixed income platforms, our team is committed to modernizing this crucial corner of the industry. That starts with a combination of automated liquidity, easy integration, favorable economics and familiar market structures that serve all participants. OpenYield is forging changes in the fixed income market to transform investment opportunities in this $100 trillion asset class.

Explore Our Marketplace

Our Team

We’ve 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 one of the industry’s biggest transformation yet.

Jonathan Birnbaum

Founder & Chief Executive Officer

Hilton Lipschitz

Co-Founder & Chief Technology Officer

Alan Reed

General Counsel & Chief Compliance Officer

Our Advisors

Our advisory board brings extensive experience from the capital markets, fintech and beyond.

Steve Zamsky

Simon Maisey

Our Investors

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

The Bond Market You’ve Been Waiting For

Our marketplace promotes efficient trading through modern technology, 100% firm quotes and competitive pricing. Start your trading journey today.

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  • © 2024 OpenYield Inc.

© 2024 OpenYield Inc. OpenYield Trading LLC, a wholly-owned subsidiary of OpenYield Inc., is a broker-dealer registered with the SEC and MSRB, and is member FINRA/SIPC. OpenYield Trading LLC operates an Alternative Trading System (ATS) registered with the SEC.

The views and opinions expressed on or through this website are for informational and educational purposes only. OpenYield Inc. (and its affiliates) make no representation or warranty as to the current accuracy, reliability or completeness of, and does not accept liability for, any investment or trading decisions based on such information. Information presented does not constitute an offer or solicitation of an offer to buy/sell securities or any other products. Information presented is for institutional investor use only and is not intended for use by retail investors. Information or services offered may not be available or appropriate for use by all potential subscribers. There is no intention to offer products and services in countries or jurisdictions where such an offer would be unlawful under the relevant domestic law.

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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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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The Automated
Bond Marketplace

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.