Spline Data, a leading provider of quantitative U.S. municipal bond pricing data and analytics, announced the launch of its real-time primary market pricing tool designed to bring greater efficiency, accuracy, and customization to the bond issuance process.

Spline's latest analytics tool provides dealers, advisors, issuers, and asset managers with next-generation modeling technology to generate predicted scales for hypothetical municipal bond deals across any range of call dates, coupons, and structures. Using traditional municipal trading intuition combined with scalable machine learning, Spline's new issue platform leverages swaths of otherwise ignored market data to generate meaningful insights, enable fine-tuned pricing power, and enhance negotiation capabilities.

"Spline's primary market model is the logical next iteration of our municipal market pricing products designed to bring clarity and objectivity to a historically disparate ecosystem," said Matthew Smith, founder and CEO of Spline Data. "After seeing the success of our customers in the secondary market, it was clear that the primary market could see similar benefits from similar tech."

"Overwhelmingly, clients share that current new issue tools simply aggregate data and offer little insight beyond what an in-house spreadsheet would," continued Matthew Smith. "Now, anyone underwriting, advising, and planning municipal projects can immediately benefit from Spline's muni machine learning expertise on a built-for-purpose platform."

Built to maximize flexibility and ease of use, Spline's new issue platform provides numerous features and data points on-demand:

• Instantaneous structure optimization, predictive scales, and comparable rates based on years of professional muni modeling experience  
• Premium maturity- and deal-level pricing projections to inform project feasibility and deal marketability
• Similar public deal comparables and a private placement database for targeted market comparisons

Additionally, the platform features a deal management component enabling the tracking and measuring of individual deals and team performance. 

"Initial user feedback on this tool has allowed us to build for clients in a way that highlights and scales their unique expertise rather than create more busywork," said Matthew Smith. "We are now purely focused on honing our models so our users spend less time building scales—and more time interfacing intelligently with their clients."