STRENGTHENING
THE CLIENT-DEALER
RELATIONSHIP

We’re overhauling access to the US government debt market and expanding liquidity for all

ADDRESSING THE LIQUIDITY IMBALANCE

Trading in the US Treasury market is heavily weighted towards the six On-the-Run Securities, leaving a liquidity vacuum for the 300+ Off-the-Runs. This has drastically increased the bid-offer spread and negatively affected balance sheets.

We’re here to fix that.

AUCTION-BASED PLATFORM CONNECTING BUYER AND SELLER

OpenDoor’s unique platform hosts multiple, anonymous trading auctions, concentrating liquidity at certain times of the day. Both buyers and sellers benefit from better liquidity and pricing, lower transaction costs and zero information leakage™.

HOW IT WORKS

OpenDoor uses best-of-breed technologies via a cloud-based web-delivered application for the entire off-the-run and inflation-protected securities (TIPS) curve, separated into customizable benchmark sectors.

OpenDoor’s point-in-time auctions are designed for seamless transition through each phase of the trading process. By design, most trades are executed at the midpoint price, essentially eliminating the bid-ask spreads of traditional and RFQ solutions.

HOW IT WORKS

OpenDoor uses best-of-breed technologies via a cloud-based web-delivered application for the entire off-the-run and inflation-protected securities (TIPS) curve, separated into customizable benchmark sectors.

OpenDoor’s point-in-time auctions are designed for seamless transition through each phase of the trading process. By design, most trades are executed at the midpoint price, essentially eliminating the bid-ask spreads of traditional and RFQ solutions.

OUR THREE PHASE MODEL

PRICING PHASE

A unique combination of streaming quotes from Sponsor-Dealers, participant entries, historical data and algorithmic calibration to achieve optimal midpoint prices

video

BREATHING PHASE

A pause to allow participants to evaluate mids, make trade decisions and enter orders

video

MATCHING PHASE

Orders are confidentially matched in price-time priority and fills are reported in real-time and aggregated at the end of auction as a single, average priced ticket

video

QUESTIONS?

Find answers to some of our FAQs, from who OpenDoor is for to how the trading sessions work.

READY FOR A DEMO?

Sign up for a demo, or contact us for more details. We’d love to hear from you.

QUESTIONS?

Find answers to some of our FAQs, from who OpenDoor is for to how the trading sessions work.

READY FOR A DEMO?

Sign up for a demo, or contact us for more details. We’d love to hear from you.