LIQUIDITY UNLOCKED

Discreet Electronic Trading for Off-the-run US Treasuries and TIPS

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LIQUIDITY UNLOCKED

Discreet Electronic Trading for Off-the-run US Treasuries and TIPS

LEARN MORE

CONTINUOUS ORDER BOOK

Our new continuous order book allows you to rest orders on the platform for as long as you require. Historically, OpenDoor has enjoyed hit rates as high as 30%. With our new partnerships, new clients, and our move from a scheduled auction process to continuous auctions we are looking forward to continuing and improving upon our past results.

OpenDoor – Your First Look Platform

CONTINUOUS ORDER BOOK

Our new continuous order book allows you to rest orders on the platform for as long as you require. Historically, OpenDoor has enjoyed hit rates as high as 30%. With our new partnerships, new clients, and our move from a scheduled auction process to continuous auctions we are looking forward to continuing and improving upon our past results.

OpenDoor – Your First Look Platform

WHY OPENDOOR

OpenDoor provides anonymous OFTR and TIPS trading with Zero Information Leakage™, fully compliant straight-through processing and connectivity to 90+ OMS.

PRIVACY

Your trade information is valuable; don’t give it away

  • Discreet forum for efficient mid-market execution opportunities
  • Move larger blocks without moving the market
  • Anonymous Pre-trade price transparency

PERFORMANCE

More fills at better prices

  • Continuous pricing across the yield curve
  • Reliable, market neutral, reference data
  • Historically, the majority of our executions take place at the mid.*

*Source: Trades executed between 4/25/2017 – 11/07/2019

PROCESS

Stress-free access to the market

  • Fully compliant workflow
  • Non-disclosed trade processing, from order to settlement
  • Available connectivity to over 90 OMSs via TSOX
  • Flexible interface (OpenDoor GUI, API or proprietary integration)

WHY OPENDOOR

Trade Anonymously

Unlike the current RFQ model, OpenDoor delivers complete anonymity with Zero Information Leakage™ of your orders.

Maintain Relationships

OpenDoor’s model removes the friction between buy-side and sell-side, enabling non-toxic trade flow strengthening buy-side and sell-side relationships.

Restore Liquidity

Concentrate trading at specific times, bringing buyers and sellers onto a single platform magnifies liquidity.

Reduce Costs

OpenDoor provides users with a unique ability to transact at their level or better. Users may experience better fills with execution at prices better than orders entered on the platform.

THE FORGOTTEN 98%

On-the-Run Vs. Off-the Run US Treasuries

The 6 on-the-run issues represent 1.5% of total outstanding issuance, yet account for nearly 68% of average daily trading volume.*

OTRs are a TRADER’s market 

The other 300+ OFTRs represent 98.5% of total outstanding issuance, yet account for just 32% of average daily trading volume.*

*Source: US Treasury and FINRA data September 2019

OFTRs are an INVESTORS market

OPENDOOR IN ACTION

NEWS & INSIGHTS

Trading Slump Deepens:  It’s as if JPMorgan and Goldman Vanished

November 08, 2019 – The US Treasury market has grown substantially over the last decade, yet average trade sizes have diminished. OpenDoor Co-founder, CEO and President Susan Estes recently spoke to Bloomberg’s Matt Leising about the structural changes taking place in Treasuries.

OpenDoor Securities @OpenDoorSec
The #USTreasury market has grown substantially in the last decade, yet avg trade sizes have diminished.… https://t.co/25pGmDESWz
h J R

OPENDOOR IN ACTION

NEWS & INSIGHTS

OpenDoor’s Josh Holden outlines the biggest issues facing US Treasuries

September 12, 2019 – In Part 2 of his series with Markets Media, OpenDoor CIO Josh Holden discusses data in the U.S. Treasury market — how it compares with other asset classes and how it’s bifurcated between the on-the-run and off-the-run markets.

OpenDoor Securities @OpenDoorSec
The #USTreasury market has grown substantially in the last decade, yet avg trade sizes have diminished.… https://t.co/25pGmDESWz
h J R

THE INDUSTRY IS WATCHING

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