All to All platform for illiquid UST raises $10mn

OpenDoor Securities, the first All to All marketplace for illiquid US Treasuries, has completed a third $10 million investment round. The funds will help to accelerate its rapid business expansion and come at a time of sustained growth for the platform.

Eight dealers are trading on OpenDoor’s platform for their own accounts, along with financial institutions representing $7.3 trillion in assets under management, an 84% increase since the platform’s launch in late April 2017.

In the nine months since launch, OpenDoor has facilitated over $275 billion in orders, with matched trading volume reaching $10 billion, $1 billion in the first week of January 2018 alone. Fourteen percent of all matched trades have resulted in better fills.

The market-based solution is the first session-based, All to All, anonymous trading platform for off-the-run US Treasuries and Treasury Inflation Protected Securities (TIPS). It provides equal access and a level playing field for all participants and is engineered to prevent information leakage. It is also a certified woman-owned business enterprise.

Read the full release

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