AI built for the Municipal Bond market

Real time, accurate pricing service for municipal bonds. Our models update evaluation pricing every 1.3 seconds.


What we are is transforming evaluated pricing for municipal bonds

We are:

A trader’s assistant

A portfolio manager’s guide

A compliance officer’s best friend


Automation requires accuracy

As daily tasks are rapidly moving to technological solutions, the input data must be reliable for the output data to be valuable. Whether you are using our evaluated prices to help make trading decisions, investment allocations, or compliance oversight, ensures that these prices are real-time and accurate, based on the size of the trade. Market participants know the price estimate of a bond depends on a lot of information happening throughout the day, just as they know the size of a transaction is a significant factor. Markets and valuations are dynamic, it is time to move away from static pricing.

How uses state of the art artificial intelligence uses state-of-the-art artificial intelligence. The team is a combination of market experts and scientists creating products for everyday use. We do not outsource; we develop, build, and maintain everything in-house. Our models are trained to provide extremely accurate prices on-demand, and our outputs produce an estimate of the bid, the ask, and our proprietary price which predicts the level of an inter-dealer trade. Our system offers a lot of flexibility, we can price an individual bond for detailed analysis, lists of bids or offers, and an entire portfolio. All products are available via API or custom-integrated solutions.

Use Cases

Best execution reporting – Because evaluates prices by trade by size, we have created a revolutionary way to analyze transactions using our compliance tool for internal audits or to ensure regulatory compliance.

Pre-trade analysis – Identify alpha and verify prices are reasonable prior to execution. Post-trade analysis – Verify transactions were executed in line with the market conditions at the time of trade.


Stephen Winterstein


With over 35 years of experience in municipal fixed income SMA and mutual fund management, electronic trading, and fintech, Stephen Winterstein has held numerous roles. These include serving as the Head of Municipal Fixed Income at MarketAxess and the Managing Director, Head of Municipal Fixed Income Strategy & Research at Wilmington Trust.

Gil Shulman


Prior to starting, Gil spent six years at Microsoft AI and in the Amazon core machine learning team, where he drove initiatives to apply state-of-the-art artificial intelligence techniques to real-world applications with several hundred million users. Earlier, Gil founded Amobee, the world’s first mobile advertising company, sold to Sing-Tel for $324mm. He started his career as a software engineer and has an MBA from the Wharton School, University of Pennsylvania.

Jon Fiebach


Jon brings over 35 years of fixed income market experience to He has been at the forefront in the use of technology to improve outcomes in the market his entire career. After 8 years working on the dealer side, Jon joined Susquehanna (SIG) where he built and managed the proprietary municipal and corporate bond trading desks, as Global Head of Fixed Income. After leaving SIG, he founded Duration Capital Management, a hedge fund company specializing in fixed income arbitrage with a primary focus on municipal bonds and derivatives. From 2016 until March of 2024, Jon worked at Clark Capital where he was Head of both the Fixed Income and Cross Asset departments. He built and led teams that managed taxable and tax free SMA assets, actively traded mutual funds, and a leveraged hedge fund. Jon was lead manager on the $7B Navigator Tactical Fixed Income Fund (NTBIX), a 3x winner of Lipper's award for best Alternative Credit Focus Funds.

Mitas Ray

Founding Principal Scientist

Prior to joining, Mitas was a researcher at the University of Washington in Seattle, working on machine learning methods for sequential decision making and decision-dependent optimization. Mitas holds a M.S. from the University of Washington. Immediately after earning his B.S. in computer science from the University of California, Berkeley, Mitas was appointed as a lecturer there.

Jesse Watson

Founding Principal - Data Research

Jesse came to from Oberlin College (Ohio) where he was a professor teaching courses on technology in East Asia. He has also taught at Smith College (Massachusetts) and holds a Ph.D. from the University of California, Berkeley, an M.A. from Peking University (China) and a B.A. from Wesleyan University (Connecticut). Jesse has been a Fulbright Scholar of the US Department of State.

Myles Schoonover

Founding Principal Product Manager

Prior to joining, Myles was a professor at Lee University. Previously Myles had been a researcher at the Université de Lorraine (Metz, France) as well as at Oxford University (Oriel College). Myles will defend his Ph.D. dissertation at the University of Groningen (Netherlands) in 2024, and holds an M.A. from Yale University.

Municipal Market Compliance as a Service (CaaS)

Contact Us

Discover the power of real-time pricing with our flexible packages. Whether you prefer a user-friendly web app or need direct API access, we have a solution that fits your needs and budget. Click here to explore our pricing options and get started today! See Pricing

Click here to request a demonstration of our technology. You can also email our Municipal Markets Product Manager Myles at