As the world’s most traded asset class, the fixed income markets are a pillar of our global economy. They enable governments to finance critical infrastructure, corporations to fund growth, and individuals to make life’s most important purchases.
However, despite their centrality in our lives, it remains far too difficult to access fixed income securities like treasuries, municipal bonds, and corporate debt. While investing in fixed income may have received less focus over the past decade (with historically low interest rates), times have changed, and higher rates (and inflation) are putting the opportunity cost of not investing idle cash into sharp relief.
Fixed income, as an asset class, is in the midst of a dramatic market structure transformation. In 2013, just 8% of corporate debt was traded electronically. By the end of 2022, this number was 45%. In short, fixed income is shifting online, but much of the infrastructure needed to make the market more accessible, transparent, and efficient for all investors has yet to be built. This is all in spite of the fact that global fixed income markets total $130 trillion, compared to equities at only $42 trillion.
Enter Moment, a new company building infrastructure that abstracts away the complexities of embedding fixed income investments in any application. Their suite of APIs delivers best execution across every source of liquidity, comprehensive reference and market data, and custom fixed income strategies with automated portfolio construction and management. Whether you’re a corporate, institution, or advisor – Moment makes it seamless to access the fixed income markets.
We’ve been incredibly impressed by Moment’s founders—Dylan, Dean, and Ammer—and the amazing team of quants and engineers they’ve assembled. They bring deep experience across the fixed income stack having built trading systems at leading firms like Citadel Securities, Virtu, and the Chicago Trading Company.
In just a few short months, the Moment team has done a phenomenal job capturing the hearts and minds of many of the world’s leading fintech companies and infrastructure providers. Earlier today, Moment announced their partnership with Apex Fintech Solutions—the global leader in clearing and custody solutions. Together, Moment and Apex will be rolling out their suite of fixed income APIs to over 220 broker-dealer clients representing over $120 billion in assets under custody.
We’re equally excited to announce that Andreessen Horowitz will be leading Moment’s Series A round of financing and that I will be joining their board of directors. We’re thrilled to be investing alongside Venrock, Contrary, Neo, and Henry R. Kravis to support Moment’s next phase of growth.
