Yield Book

What Yield Book does

Yield Book is a fixed income analytics platform founded in 1989 and currently operating as a wholly-owned subsidiary of LSEG (London Stock Exchange Group) within the FTSE Russell division. The company provides institutional fixed income market participants — broker-dealers, investment managers, banks, insurance companies, hedge funds, pension funds, central banks, and government agencies — with portfolio analysis, trade analysis, single security analytics, prepayment and credit models, and regulatory-aligned risk calculations. Its platform combines proprietary quantitative models developed since the 1980s (covering Agency RMBS, Non-Agency RMBS, CMBS, CLOs, and term structures) with comprehensive fixed income data drawn from LSEG's Pricing and Reference data, covering more than 20,000 daily-priced securities and nearly 2 million securities in total, with approximately $10 trillion of securitizations modeled annually.

The product suite spans a flagship web-based analytical system (Yield Book Classic), an Excel Add-In, a web-based Calculator, a REST/XML API for enterprise integration, a Structuring Tool for CMO/CRT deal creation, a high-performance Boost acceleration module, and domain-specific solutions for sustainable investment analytics, ETF analytics, advanced mortgage analytics, historical analytics, and CLO analytics. The underlying architecture is cloud-based with central calculation servers accessible via internet gateway, client/server deployment, and API, supporting both interactive and batch processing workflows.

Yield Book operates a subscription-based enterprise B2B model with multiple product lines sold as recurring subscriptions, supplemented by professional services (consulting) and licensing/royalty arrangements through its Integrated Solutions partner program. Pricing is not publicly disclosed and contracts are negotiated directly with enterprise customers via a field sales motion combined with inside sales and customer support. The company distributes globally through direct enterprise engagement, partner resellers, and its embedded presence within investment management platforms, ALM providers, pricing services, and automated trading systems.

Name

Yield Book

Legal name

Yield Book Inc.

Website

https://yieldbook.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

Yield Book is an institutional fixed income analytics platform serving broker-dealers, banks, asset managers, hedge funds, and central banks with proprietary prepayment, credit, and term structure models. Operating as an LSEG subsidiary, it provides portfolio analysis, risk management, and structured product analytics globally.

Ownership category

akta.pro rank

Product category

Fixed Income Analytics

NAICS

Software Publishers (513210), Portfolio Management and Investment Advice (52394)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Multi-Sector / Total Return Fixed Income (FSAAAHAJ)

akta.pro secondary industry

Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO)

Keywords

• Fixed income analytics
• Mortgage-backed securities
• Portfolio analytics
• Prepayment modeling
• Securities analytics

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Yield Book Platform Subscription: Subscription-based access to the flagship Yield Book fixed income analytical system providing portfolio, trade and single security analysis with powerful reporting and automation capabilities.
2. Yield Book Add-In: Spreadsheet-based analytics product delivering Yield Book calculations directly in Microsoft Excel environment. Sold as subscription add-on.
3. Yield Book Calculator: Standalone web-based single security analysis tool accessible via subscription.
4. Yield Book API: API-based access to Yield Book analytics for integration into third-party applications, proprietary systems and data warehouses.
5. Yield Book Structuring Tool: Application for analyzing Agency CMO, Credit Risk Transfer, and Non-Agency RMBS deals for new issue deal creation and analysis.
6. Yield Book Boost: Performance acceleration licenses leveraging multiple threads to speed up calculation time for portfolio analytics. Available at different boost levels (2X, 3X, 4X, 5X, MAX/30X).
7. Consulting Services: Bespoke consulting solutions for functional and strategic requirements including tailor-made risk analysis, custom reporting, and efficient data delivery.
8. Integrated Solutions / Business Partnerships: Partner programs for embedding Yield Book analytics into partner platforms, redistribution of calculated values, and licensing of structured securities analytics.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Yield Book is a cloud-based fixed income analytics platform that delivers portfolio, trade, and single security analysis for institutional market makers, anchored by proprietary prepayment, credit, and term structure models developed over 35+ years. The offering is delivered through the flagship Yield Book system plus an integrated suite of modules and add-ons, including the Yield Book API, Excel Add-In, Calculator, Structuring Tool, Boost performance accelerator, and specialized analytics for mortgage-backed securities, CLOs, ETFs, sustainable investment, and historical time series. Revenue is generated primarily through enterprise subscription licensing, API access, partner redistribution, and bespoke consulting engagements.

Product overview

Yield Book is a single unified fixed income analytics platform offering a comprehensive suite of interconnected products. The core platform, Yield Book, provides portfolio, trade, and single security analysis with powerful reporting and automation. This core system connects to specialized modules: Yield Book Calculator for single security analysis, Yield Book Add-In for Excel integration, and Yield Book API for programmatic access. Performance add-ons include Yield Book Boost for accelerated calculations and Yield Book Structuring Tool for CMO/CRT deal analysis. Domain-specific offerings cover ETF Analytics, Sustainable Investment Analytics, Advanced Mortgage Analytics, Historical Fixed Income Analytics, and CLO Analytics. All products access the same underlying database and calculation engine, with additional services including Integrated Solutions for partners and Consulting Services for custom engagements.

Differentiator

Problem solved

Functional benefit

Brands

• Yield Book Classic: The flagship fixed income analytical system offering portfolio, trade, and single security analysis with powerful reporting and automation capabilities.
• Yield Book Calculator
• Yield Book API
• Yield Book Add-In
• Yield Book Boost
• Yield Book Structuring Tool
• Yield Book Sustainable Investment Analytics
• Yield Book Advanced Mortgage Analytics
• ETF Analytics
• Yield Book New Issue Calculator

Products and services

• Yield Book Flagship fixed income analytical system offering portfolio, trade and single security analysis with powerful reporting and automation capabilities combined in a point-and-click interface. Provides a comprehensive securities database, real-time market data, and historical time series for institutional fixed income investors.
• Yield Book Boost Performance enhancement add-on that leverages multiple threads to accelerate calculation speed, reducing time for partial durations, risk sensitivities, scenario analysis, cash flows, return attribution, tracking error and value-at-risk calculations across the Yield Book portfolio workflow.
• Yield Book Add-In Spreadsheet-based product that makes Yield Book analytics directly accessible from Microsoft Excel through an intuitive drop-down menu, allowing users to calculate analytics at security, sector and portfolio levels within spreadsheets over an internet connection to calculation servers.
• Yield Book Calculator Standalone web-based single security trade analysis tool that examines bond characteristics and risk measures, runs scenario analysis, and displays projected cash flows and historical trends. Can be integrated with various web applications and offers coverage of nearly 2 million securities.
• Yield Book New Issue Calculator Specialized calculator for analyzing new issue fixed income securities and primary market deals, extending the Yield Book Calculator to primary market issuance workflows.
• Yield Book API API-based access to Yield Book analytics through XML and JSON interfaces, enabling integration with third-party applications, proprietary systems and data warehouses. Powers real-time front office analytics, enterprise-wide risk processing, and back office calculations including bond indicative and pricing data retrieval, price/yield analysis, option-adjusted measures, scenario what-if analysis, projected cash flow analysis, and security-level return attribution.
• Yield Book Structuring Tool Application for analyzing Agency CMO, Credit Risk Transfer (CRT), and Non-Agency RMBS deals. Allows users to market and analyse new deals, cut and repackage collateral, price tranches, and identify deal arbitrage opportunities in the primary market.
• ETF Analytics Analytics capabilities for Exchange-Traded Funds within the fixed income space, extending Yield Book analytics to ETF portfolio and security analysis.
• Yield Book Sustainable Investment Analytics Single integrated solution for sustainable and responsible investment analytics across the fixed income universe, supporting climate-, ESG-, and regulatory-driven portfolio decisions.
• Yield Book Advanced Mortgage Analytics High-performance, ultra-dynamic big data mortgage analytics platform offering immediate competitive edge for mortgage-backed securities analysis at scale.
• Historical Fixed Income Analytics Advanced analytics tools for historical data needs, including time series analytics for US Agency RMBS that lets customers access the market-leading prepayment model and generate an analytics time series.
• Collateralized Loan Obligations (CLOs) Comprehensive CLO data, cashflows, and analytics including the CLO Credit Model that predicts default likelihood based on loan attributes and macroeconomic data, with model dials for price, rate, and industry shocks.
• Yield Book Consulting Services Bespoke consulting solutions for functional and strategic requirements including tailor-made risk analysis, custom reporting, efficient data delivery, scenario analysis, and process automation, delivered by Yield Book's fixed income experts for institutional clients.
• Macaulay Duration & Price Yield Curve Charts Interactive web-based tool for calculating Macaulay duration and estimated present value for fixed coupon bonds, allowing users to adjust maturity, coupon, yield, and payment frequency parameters.

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Investment Management PlatformscoreTechnology or IntegrationIntegrated solutions partnerships with investment management platform providers. Yield Book API is incorporated to enhance partner platforms with analytics while keeping client focus on partner's platform.
• Online Trading PlatformscoreTechnology or IntegrationPartnership with online trading platforms to display MBS analytics, enabling partner's clients to make more informed investment decisions using Yield Book analytics.
• ALM (Asset-Liability Management) ProviderscoreTechnology or IntegrationALM providers utilize Yield Book API to calculate MBS projected cash flows and analytics for regulatory requirements in proprietary platforms.
• Pricing ProviderscoreTechnology or IntegrationPricing providers integrate Yield Book analytics to enhance proprietary pricing models with customized spreadsheets retrieving analytic measures from extensive securities coverage.
• FTSE RussellflagshipStrategic or Co-development PartnerYield Book provides data and analytics driven by LSEG's Pricing and Reference data that underpins FTSE Russell index construction. Yield Book customers have access to FTSE Russell's domestic and international fixed income indices.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Numerix: Numerix provides cross-asset analytics and pricing models for derivatives and structured products, with strong fixed income and structured credit capabilities. It competes with Yield Book for derivatives-heavy analytics workflows at sell-side firms, asset managers, and hedge funds, and offers both API and enterprise deployment.
• Intex Solutions: Intex is a direct competitor specializing in cashflow modeling and analytics for structured finance (ABS, RMBS, CMBS, CLO). It serves many of the same institutional clients as Yield Book and is often cited alongside Yield Book as a primary option for deal-level prepayment and cashflow analytics in primary and secondary structured product markets.

Broad incumbents

• BlackRock Aladdin: BlackRock's Aladdin platform provides enterprise investment management, risk analytics, and trading infrastructure used by both BlackRock and third-party institutional clients. It overlaps with Yield Book on portfolio analytics, fixed income modeling, and risk reporting, and competes for the same enterprise technology budgets at large asset managers and insurers.
• Intercontinental Exchange (ICE): ICE operates fixed income analytics, pricing data, and the WARM securitization platform acquired from Black Knight. Like Yield Book, ICE serves institutional fixed income investors with analytics spanning MBS, CMBS, and structured products, and competes for similar enterprise budgets in trading, risk, and portfolio management workflows.
• Finastra: Finastra provides capital markets and treasury software to banks and financial institutions, including fixed income analytics and structured product capabilities. It overlaps with Yield Book at bank treasury, ALM, and fixed income trading desks and is a viable substitute for end-to-end front-to-risk platform deals.
• SS&C Technologies: SS&C provides investment management, accounting, and analytics software to institutional asset managers and hedge funds. Its fixed income analytics and portfolio management capabilities overlap with Yield Book for buy-side clients seeking integrated front-to-back solutions.
• Charles River Development (State Street): State Street's Charles River Development platform is an institutional investment management system that incorporates fixed income analytics, order management, and compliance. It is comparable to Yield Book's portfolio and trading analytics from a buy-side workflow perspective and competes for similar enterprise front-to-back platform budgets.
• MSCI Barra: MSCI offers fixed income risk and portfolio analytics through its Barra platform, serving institutional asset managers, pension funds, and banks. It overlaps with Yield Book on multi-asset portfolio construction and risk decomposition, and competes for similar enterprise risk and analytics budgets.
• Bloomberg L.P. Bloomberg's PORT function is the most direct large-scale competitor to Yield Book, offering fixed income portfolio analytics, risk, and scenario tools to a global institutional client base. Both serve buy-side and sell-side fixed income professionals; Bloomberg competes on breadth and integration with the Terminal, while Yield Book competes on depth of structured product and prepayment modeling.

Emerging players

• Polarlake (Temenos): Temenos/Polarlake provides a financial data management and integration platform used by banks and asset managers to aggregate and process market data for analytics and regulatory reporting. It is comparable to Yield Book at the data infrastructure layer and overlaps where clients build or consume fixed income analytics pipelines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/LSEGplc
• YouTubeyoutube.com/lsegplc
• LinkedInlinkedin.com/company/the-yield-book-inc.

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yield Book