COLORADO SPRINGS, Colo. & CHICAGO--(BUSINESS WIRE)--Jun 23, 2025--
Investortools, a leading provider of fixed-income software solutions, today announced the integration of Spline Data’s Predictive Municipal Bond Pricing into the Investortools platform. This partnership puts real-time pricing into the hands of municipal bond investors and asset managers, enabling tremendous trading efficiency and alpha generation.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250623656904/en/
Spline Data’s pricing model delivers market-tested bond pricing, enabling fund managers and separately managed account (SMA) providers to swiftly evaluate market bonds against precise execution price estimates.
“The predictive pricing model leans heavily on traditional municipal bond trading intuition, providing immediate alpha generation and algo-like efficiency rather than simply meeting compliance requirements with outdated evaluation data,” stated Matthew Smith, founder and CEO of Spline Data. “Our integrated data with Investortools is an invaluable resource for traders and portfolio managers looking to immediately modernize their trading workflow in ways previously reserved for only the largest market participants.”
With the new partnership, Investortools' users now have access to an advanced pricing algo that produces real-time bid and offer price estimates. Users can confidently anticipate bid-list outcomes, positioning them effectively before liquidity providers even place bids, thus capturing additional value for end clients.
“By pricing the entire municipal bond universe every five minutes, we empower users to instantly and comprehensively act on trends across the entire market,” added Smith. “This holistic view accelerates decision-making and enhances market responsiveness, even amid heightened volatility.”
Spline Data’s pricing model consistently maintains a median absolute error of less than six basis points when compared to prior five-minute intervals or actual traded prices. The model also maintains near-zero skew, indicating balanced price predictions even during volatile periods. This consistency reflects the model’s ability to keep pace with market movements, offering reliable pricing in environments that typically introduce lag or ambiguity.
"High-quality intraday pricing is a critical input to automated trading workflows, including intelligent trade discovery and AutoEx,” noted James Morris, Senior Vice President and Head of Sales at Investortools. “By integrating Spline Data into our platform, we’re equipping our clients to scale their trading operations, make quicker decisions, and construct better-performing portfolios.”
This collaboration underscores both companies’ dedication to enhancing quantitative clarity and streamlining workflow automation.
About Investortools, Inc.
For more than four decades, Investortools has been a leading SaaS provider of solutions regarded by the industry as a prerequisite for fixed-income investment management. Its comprehensive product suite covers portfolio, order, and execution management, performance analytics, 2a-7 compliance, and credit analysis. Trusted by over 200 firms managing more than $1 trillion in assets, Investortools supports SMA managers, fund managers, broker-dealers, and other key market participants. Learn more about Investortools' commitment to innovation at www.investortools.com.
About Spline Data
Spline Data is the leading provider of independent, algorithmic pricing data for the municipal bond market. Using agile mathematical models built upon a wealth of algorithmic trading intuition, Spline provides market-tested bond pricing and yield curves for buy-side and sell-side firms looking to automate their municipal bond market execution and exponentially expand the effectiveness of their decision making. For more information, visit www.splinedata.com.
Investortools integrates Spline Data’s predictive pricing to boost muni trading speed, automation, and real-time alpha generation.
SURIN, Thailand (AP) — Fighting raged Saturday morning along the border of Thailand and Cambodia, even after U.S. President Donald Trump, acting as a mediator, declared that he had won agreement from both countries for a new ceasefire.
Thai officials said they did not agree to a ceasefire. Cambodia has not commented directly on Trump’s claim, but its defense ministry said Thai jets carried out airstrikes Saturday morning.
Thai Foreign Minister Sihasak Phuangketkeow said Saturday that some of Trump's remarks didn't “reflect an accurate understanding of the situation.”
He said Trump’s characterization of a land mine explosion that wounded Thai soldiers as a “roadside accident” was inaccurate, and did not reflect Thailand's position that it was a deliberate act of aggression.
Sihasak said that Trump’s willingness to credit what may be “information from sources that deliberately distorted the facts” instead of believing Thailand hurt the feelings of the Thai people “because we consider ourselves — we are proud, in fact — to be the oldest treaty ally of the United States in the region.”
The latest large-scale fighting was set off by a skirmish on Dec. 7 that wounded two Thai soldiers and derailed a ceasefire promoted by Trump that ended five days of earlier combat in July over longstanding territorial disputes.
The July ceasefire was brokered by Malaysia and pushed through by pressure from Trump, who threatened to withhold trade privileges unless Thailand and Cambodia agreed. It was formalized in more detail in October at a regional meeting in Malaysia that Trump attended.
More than two dozen people on both sides of the border have officially been reported killed in this past week’s fighting, while more than half a million have been displaced.
The Thai military acknowledged 15 of its troops died during the fighting, and estimated earlier this week that there have been 165 fatalities among Cambodian soldiers. Cambodia has not announced military casualties, but has said at least 11 civilians have been killed and more than six dozen wounded.
Trump, after speaking to Thai Prime Minister Anutin Charnvirakul and Cambodian Prime Minister Hun Manet, announced on Friday an agreement to restart the ceasefire.
“They have agreed to CEASE all shooting effective this evening, and go back to the original Peace Accord made with me, and them, with the help of the Great Prime Minister of Malaysia, Anwar Ibrahim,” Trump wrote in his Truth Social post.
Trump’s claim came after midnight in Bangkok. Thai Prime Minister Anutin had, after his call with Trump, said he had explained Thailand’s reasons for fighting and said peace would depend on Cambodia ceasing its attacks first.
The Thai foreign ministry later explicitly disputed Trump’s claim that a ceasefire had been reached. Anutin's busy day on Friday included dissolving Parliament, so new elections could be held early next year.
Cambodian Prime Minister Hun Manet, in comments posted early Saturday morning, also made no mention of a ceasefire.
Hun Manet said he held phone conversations on Friday night with Trump, and a night earlier with Malaysia’s Prime Minister Anwar Ibrahim, and thanked both “for their continuous efforts to achieve a long-lasting peace between Cambodia and Thailand.”
“Cambodia is ready to cooperate in any way that is needed," Hun Manet wrote.
Anwar later posted on social media that he was urging the two sides to implement a ceasefire on Saturday night. Cambodia's prime minister, also posting online, endorsed the initiative, which included having Malaysia and the United States help monitor it. However, Thai Prime Minister Anutin denied that his country was even in negotiations over the proposal.
Thailand has been carrying out airstrikes on what it says are strictly military targets, while Cambodia has been firing thousands of medium-range BM-21 rockets that have caused havoc but relatively few casualties.
BM-21 rocket launchers can fire up to 40 rockets at a time with a range of 30-40 kilometers (19-25 miles). These rockets cannot be precisely targeted and have landed largely in areas from where most people have already been evacuated.
However, the Thai army announced Saturday that BM-21 rockets had hit a civilian area in Sisaket province, seriously injuring two civilians who had heard warning sirens and had been running toward a bunker for safety.
Thailand's navy was also reported by both sides' militaries to have joined the fighting on Saturday morning, with a warship in the Gulf of Thailand shelling Cambodia's southwestern province of Koh Kong. Each side said the other opened fire first.
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Peck reported from Bangkok. Sopheng Cheang in Serei Saophoan, Cambodia, and Matthew Lee in Washington contributed to this report.
A man sits in a tent as he takes refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing home following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
An evacuee cooks soup as she takes refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing home following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
An evacuee tastes soup as she takes refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing from home following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
Evacuees cook food as they take refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing homes following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
Children raise their hands while receiving donation from charity as they take refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing homes following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
Evacuees wait to receive donation from local charity as they take refuge in Banteay Menchey provincial town, Cambodia, Saturday, Dec. 13, 2025, after fleeing homes following fighting between Thailand and Cambodia. (AP Photo/Heng Sinith)
Village security volunteers and resident run into shelter while the blasts sounded too close in Buriram province, Thailand, Friday, Dec. 12, 2025, following renewed border conflict between Thailand and Cambodia. (AP Photo/Sakchai Lalit)
