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 350+ off-the-runs. This has drastically increased the bid-offer spread and negatively affected balance sheets.

We’re here to fix that.

ALL-TO-ALL, SESSION-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.

By design, our Optimal Fill Algorithm ensures orders are filled at your level or better.

OpenDoor supports off-the-run outright orders combined with other off-the-run switch orders to generate live, executable on-the-run orders in the Liquidity Keychain, free of commission.

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.

By design, our Optimal Fill Algorithm ensures orders are filled at your level or better.

OpenDoor supports off-the-run outright orders combined with other off-the-run switch orders to generate live, executable on-the-run orders in the Liquidity Keychain, free of commission.

OUR ALL-TO-ALL MODEL

STREAMING

Continuous streaming reference prices for all 350+ Treasury CUSIPS daily. Prices are determined from a unique combination of quotes from dealers, participant entries, historical data and algorithmic calibration.

CONTINOUS ORDER BOOK

Participants can place orders on the platform at any time through the end of the day’s final matching session. Orders can be placed on a “good ‘til canceled” basis or only for the next matching session.

MATCHING

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

QUESTIONS?

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

FAQ

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 matching sessions work.

FAQ

READY FOR A DEMO?

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