OpenDoor Securities Launches All-to-All Platform for US Treasury Market
The new platform will focus on improving liquidity in specific segments of the US Treasury bond market.
Almost three dozen firms, accounting for over $5 trillion in assets under management (AUM), and six sponsor-dealers are already on the platform, which will hold its first auction at 11 a.m. EST today.
Clients on the platform include central banks, hedge funds, pension funds, sovereign wealth funds, mutual funds, insurance companies, primary dealers, asset managers and trading firms. OpenDoor also expects firms representing another $16 trillion of AUM, in addition to five more sponsor-dealers, will join the platform by the end of the second quarter of 2017.
“Liquidity conditions remain challenging across many asset classes, even in the off-the-run segments of liquid markets such as US Treasuries,” said Barry Cohen, head of rates sales Americas at Societe Generale. “As an active primary dealer and market-maker in US Treasuries, Societe Generale actively seeks out opportunities to improve the liquidity we can provide to our customers. We absolutely believe that the OpenDoor platform represents an innovative way to utilize technology to achieve added liquidity in the off-the-run and less liquid corners of the Treasuries market. Being involved on day one shows our commitment to the US markets, our customers, and our partnership with the team at OpenDoor.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
The IMD Wrap: No more turf wars, or why CDOs should heed the Voice of the CTO
Max reviews how our recent Voice of the CTO series has implications for those beyond a firm’s technology function, and how communication and collaboration between tech, data, and leadership will deliver better results.
Dark horse: Deutsche Börse building dark pool
New functionality allowing exchange members to execute sweep trades comes hot on the heels of European rival Euronext launching its own dark pool.
Waters Wrap: The tough climb for startups
Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.
European firms prime for lopsided settlement in North America and at home
With T+1 imminent in North America and increasingly likely to traverse the Atlantic, operations and trading professionals in Europe are fighting on two fronts.
People Moves: Etrading Software, MarketAxess, Trumid, Nasdaq, and more
A look at the past month’s people moves in the capital markets technology and data space, including Matthijs Geneste (pictured), who will head up EU regulatory data services for Etrading Software.
This Week: Overbond, Northern Trust, FIS/Torstone, Trading Technologies, and more
A summary of the latest financial technology news.
JP Morgan DLT exec: Settlement rails needed for digital bonds to gain traction
At an Afme conference, Scott Lucas, head of markets DLT for JP Morgan, noted DLT’s progress in the bond space. Others said the tech has a long way to go before wider adoption.
Waters Wrap: Inside the mind of the CTO
After having one-on-one conversations with eight different senior bank technologists, Anthony explains how these execs look at innovation strategy from a philosophical perspective.
Most read
- Women in Technology & Data Awards 2024: All the winners
- Man Group’s proprietary data platform is a timesaver for quants
- Dark horse: Deutsche Börse building dark pool