In a move that signals the continued digitization of the traditionally slow-moving municipal bond market, Investortools and Piper Sandler have announced a direct integration aimed at giving buy-side firms a faster, smarter way to trade.

The partnership connects Piper Sandler’s municipal bond liquidity directly into Investortools’ Dealer Network (IDN) and POEM system—allowing asset managers to trade with the investment bank without ever leaving their native portfolio management environment.

Call it straight-through processing with muni-specific intelligence.

Seamless Execution Meets Deep Liquidity

At its core, the integration links Piper Sandler’s full muni bond liquidity to the Investortools platform via FIX connectivity, giving portfolio managers a real-time, bilateral connection for trading—no copy-pasting between systems, no fractured workflows.

It’s the kind of end-to-end automation that’s increasingly becoming a must-have for bond desks managing high volume and high complexity across fragmented markets.

“Busy buy-side clients need seamless access to their preferred counterparties,” said James Morris, SVP and Head of Sales at Investortools. “This integration underscores our focus on automation and efficiency.”

Piper Sandler Doubles Down on Electronic Muni Trading

For Piper Sandler, the integration is part of a broader strategic push into electronic and algorithmic muni trading—a space that’s seen significant investment in recent years but still lags corporate bonds in terms of digitization.

“Our clients want to transact inside the platforms where they already manage investments,” said Kyle Javes, Head of Municipal Fixed Income at Piper Sandler. “This isn’t just about ease of use—it’s about aligning with how the buy-side operates in real time.”

The firm’s proactive approach to municipal e-trading positions it well in a market where speed, execution quality, and workflow integration are becoming competitive differentiators.

Why This Matters in the Bigger Picture

While electronic trading has been the norm in corporate credit and equities for years, the municipal bond market has remained relatively manual—dominated by phone calls, emails, and batch processing. But pressure is mounting.

With heightened regulatory scrutiny, liquidity challenges, and growing demand for alpha through efficiency, asset managers are looking to modernize their muni desks without reinventing their operations. Integrations like this one answer that call—quietly but effectively.

And with both Piper Sandler and Investortools boasting more than four decades in fixed income, the partnership carries weight. It’s not just another tech handshake; it’s a sign that even the most established players are now committed to reshaping the infrastructure of municipal trading.

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