Investortools Expands Real-Time Municipal Bond Pricing and Automation with Integration of Spline Data’s Predictive Pricing

Investortools, a leading provider of fixed-income software solutions, today announced the integration of Spline Data’s Predictive Municipal Bond Pricing into the Investortools platform. This partnership puts real-time pricing into the hands of municipal bond investors and asset managers, enabling tremendous trading efficiency and alpha generation.

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Spline Data’s pricing model delivers market-tested bond pricing, enabling fund managers and separately managed account (SMA) providers to swiftly evaluate market bonds against precise execution price estimates.

“The predictive pricing model leans heavily on traditional municipal bond trading intuition, providing immediate alpha generation and algo-like efficiency rather than simply meeting compliance requirements with outdated evaluation data,” stated Matthew Smith, founder and CEO of Spline Data. “Our integrated data with Investortools is an invaluable resource for traders and portfolio managers looking to immediately modernize their trading workflow in ways previously reserved for only the largest market participants.”

With the new partnership, Investortools' users now have access to an advanced pricing algo that produces real-time bid and offer price estimates. Users can confidently anticipate bid-list outcomes, positioning them effectively before liquidity providers even place bids, thus capturing additional value for end clients.

“By pricing the entire municipal bond universe every five minutes, we empower users to instantly and comprehensively act on trends across the entire market,” added Smith. “This holistic view accelerates decision-making and enhances market responsiveness, even amid heightened volatility.”

Spline Data’s pricing model consistently maintains a median absolute error of less than six basis points when compared to prior five-minute intervals or actual traded prices. The model also maintains near-zero skew, indicating balanced price predictions even during volatile periods. This consistency reflects the model’s ability to keep pace with market movements, offering reliable pricing in environments that typically introduce lag or ambiguity.

"High-quality intraday pricing is a critical input to automated trading workflows, including intelligent trade discovery and AutoEx,” noted James Morris, Senior Vice President and Head of Sales at Investortools. “By integrating Spline Data into our platform, we’re equipping our clients to scale their trading operations, make quicker decisions, and construct better-performing portfolios.”

This collaboration underscores both companies’ dedication to enhancing quantitative clarity and streamlining workflow automation.

About Investortools, Inc.
For more than four decades, Investortools has been a leading SaaS provider of solutions regarded by the industry as a prerequisite for fixed-income investment management. Its comprehensive product suite covers portfolio, order, and execution management, performance analytics, 2a-7 compliance, and credit analysis. Trusted by over 200 firms managing more than $1 trillion in assets, Investortools supports SMA managers, fund managers, broker-dealers, and other key market participants. Learn more about Investortools' commitment to innovation at www.investortools.com.

About Spline Data
Spline Data is the leading provider of independent, algorithmic pricing data for the municipal bond market. Using agile mathematical models built upon a wealth of algorithmic trading intuition, Spline provides market-tested bond pricing and yield curves for buy-side and sell-side firms looking to automate their municipal bond market execution and exponentially expand the effectiveness of their decision making. For more information, visit www.splinedata.com.

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