What we do
Harmoney is an electronic bond trading platform for financial institutions and wealth managers in India. Harmoney is digitizing bond markets in India to make bond trading more efficient and open. We connect the wealth management segment to the institutional segment and help bridge the gap between the interbank and retail markets.
A little bit of history
Harmoney has been operating for about 2.5 years now and is backed by Y Combinator and angel investors from Goldman Sachs, JP Morgan, Jefferies and others. We have been a B2B player from the start and launched our first trading screen in Q4 of 2022. We have 70+ clients and have helped execute more than 3000 crores of trades to date.
Who we are
Our team comes from a strong mix of finance, trading, and technology backgrounds, having worked in Goldman Sachs, Morgan Stanley, LIC Mutual Fund, Tata Capital, etc. The founders and the team are passionate about markets and building solutions for the future of the investment industry and capital markets.
Who is it for?
Harmoney's trading platform, DART, is made for financial institutions, wealth managers, broker-dealers, and other participants in the bond market. DART acts as an aggregator and connectivity platform for market participants and provides trade execution services with straight-through processing, automation, and integrations with exchanges and back-office software on a single screen.
What we are not
There is a lot of confusion about what Harmoney does exactly and we would like to take this opportunity to clarify a few things:
- Harmoney is not a broker. We have an affiliate broking arm called BondConnect, which is used to service unregulated clients and help them connect to the RFQ platforms of the exchanges.
- Harmoney or BondConnect does not hold any bond inventory but simply facilitates trades between counterparties for a small fee.
We strongly believe that bond markets will get digitized similar to stock markets leading to a higher participation rate, more liquidity and better price discovery. This has happened in developed markets over the last 2 decades and India should not be left behind.
Keep watching our blog for ongoing updates in the future!