E211: Disrupting The $100 Trillion Bond Market

Sep 10, 2025

Dylan Parker, CEO & Co-Founder of Moment, discusses revolutionizing the bond market, which still lags behind equities in tech adoption. He shares insights from his time at Citadel, highlighting how automation can drastically improve trading efficiency. Parker explains the unique tax advantages of bonds and introduces Moment's platform that allows for rapid portfolio customization. With a focus on serving diverse investors, he emphasizes the transformative potential of smart routing and automation in fixed income trading.

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INSIGHT

Fixed Income Is Large And Late To Tech

The fixed income market is huge but lagged equities by decades and only recently electrified.
Moment builds the software layer that enables electronic trading, portfolio construction, and analytics for bonds.

ANECDOTE

Citadel Origins Sparked Moment

Dylan recounts starting at Citadel with no fixed income experience and learning by building automated trading systems.
That experience showed him automation could make bond traders 25–50× more efficient and enabled new capabilities.

ADVICE

Automate Execution With Smart Routing

Use smart order routing to access multiple fixed-income venues and capture best available price automatically.
Automate execution to avoid manual browsing of exchanges and reduce trade friction and time.

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What would the bond market look like if it were built today? In this episode, I speak with Dylan Parker, CEO & Co-Founder of Moment, the operating system for fixed income that unifies trading, portfolio construction, and risk/compliance—and automates the workflows wealth platforms run every day. We dig into how fixed income finally went electronic, why half of bond trading still happens by phone or chat, and how Moment can build customized ladders in seconds instead of hours. We also unpack the (surprisingly big) after-tax edge in munis, and Dylan’s lessons from building automated credit trading at Citadel before raising a $36M Series B led by Index Ventures this summer.

Highlights:

Fixed income lags equities—workflows still fragmented.
~50% of bond trades still done by phone/chat.
Smart routing enables millisecond auto-execution.
Custom muni ladders built in 5–10 seconds.
Automation drives 25–50× productivity gains.
LPL ($1.94T AUM) adopted Moment’s OEMS.
Clients include LPL, Hightower, and fintechs.
Bonds enable unique tax-loss harvesting benefits.
$145T fixed income market exceeds global equities.
Building “ironclad” infra vs. move-fast culture.

Guest Bio:

Dylan Parker is the CEO & Co-Founder of Moment, a New York–based company building the first operating system for fixed income for wealth platforms and institutions. Before founding Moment, Dylan was a quantitative trader/researcher at Citadel Securities, where he and his co-founders worked on automated credit trading. He co-founded Moment with Ammer Soliman (COO) and Dean Hathout (CPO)—a team with deep fixed-income expertise and top-tier engineering that recently closed a $36M Series B led by Index Ventures (with participation from a16z, Lightspeed, Venrock, Neo, and Contrary).

Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at david@weisburdcapital.com.

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Stay Connected:

X / Twitter: David Weisburd: @dweisburd

LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Dylan Parker: https://www.linkedin.com/in/dylan-parker-9b68b3134/

Links Moment: https://moment.com/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

(0:00) Preview (0:38) Dylan Parker's background and Moment's Series B funding (2:19) Expansion and simplified explanation of Moment's operations (4:40) Citadel's culture, hiring exceptional talent, and trust building (8:53) Current fixed income trading practices and portfolio management (12:30) Trends in tax loss harvesting in fixed income (17:42) High net worth market growth and automation's impact (23:13) Balancing speed and accuracy in financial technology and customer needs (28:10) Hiring opportunities at Moment and David's investment enthusiasm (29:12) Closing remarks