MuniAxis is the first municipal auction platform with the principles of openness and transparency at its core. MuniAxis is designed to provide an efficient transaction flow between buyer and seller of odd-lots — improving results for both.
MuniAxis was looking for a company to create the first platform to buy and sell municipal bonds. Truelogic worked shoulder to shoulder with MuniAxis’ team in the definition and development of the project. Starting with a technical specification of 200+ pages, we have dedicated more than three years of work to this project to date.
The U.S. municipal bond market is composed of thousands of dedicated professionals with diverse skills to raise money in the capital markets for state and local governments. The bond market consists of the primary market, which deals in the new securities (bonds) of issuers, and the secondary market, where the securities are bought, sold and traded after they have been issued. It’s the secondary market where investors know they can sell the bonds at a fair market price prior to its stated maturity. MuniAxis will help facilitate the buying, selling and trading of municipal bonds in the secondary market.
The U.S. bond market is estimated to be about $3 trillion dollars. For risk-adverse investors municipal bonds have been attractive for their tax-free yields and steady and reliable payments. There is $1 billion dollars in new money pouring into municipal bonds each week.