Charles River and OpenDoor Partner to Expand Fixed Income Liquidity Access
November 6th, 2017
Boston — November 6, 2017 — Charles River Development has formalized a partnership with OpenDoor Securities (“OpenDoor”) to provide asset managers with access to OpenDoor’s all‐to‐all market‐based solution for off‐the‐run US Treasuries and TIPS, directly from the Charles River Investment Management Solution (Charles River IMS). Under the agreement, Charles River clients will be able to participate in OpenDoor’s daily anonymous auctions from their trading blotter.
The Charles River IMS provides connectivity to leading global fixed income venues, enabling buy‐side clients to source liquidity across asset classes, analyze execution quality from multiple dimensions and demonstrate best execution to investors and regulators.
OpenDoor’s unique market‐based solution hosts multiple, anonymous trading auctions, concentrating liquidity at certain times of the day. The platform provides both traders and institutions with anonymous, session‐based trading through a dealer‐sponsored model with zero information leakage™.
“OpenDoor is delighted to partner with Charles River, a proven leader in innovative connectivity, risk and compliance solutions,” said OpenDoor CEO and President Susan Estes. “Our collaborative effort to provide trade and post‐trade connectivity and settlement for our shared customer base of institutional asset managers, banks, wealth managers, hedge funds, pensions and insurers, speaks to our joint commitment to enhance our mutual clients’ execution quality and access to OFTR US Treasury and TIPS market liquidity.”
“We have been working with leading fixed income venues to provide our clients with a broad range of fixed income execution options directly from the Charles River IMS. Our clients are also facing increased regulatory pressure to demonstrate best execution in fixed income markets,” said Peter Lambertus, CEO, Charles River. “The OpenDoor partnership is an important step forward to help clients successfully navigate the rapidly changing fixed income trading landscape and respond to regulatory mandates.”
In the six months since launch, OpenDoor’s order volume has exceeded $200 billion, with a matched trade volume of $6.3 billion.
About OpenDoor Securities
OpenDoor Securities was founded to address key challenges facing US Treasury market participants. OpenDoor has pioneered an innovative all‐to‐all, session‐based platform that provides superior execution, balance sheet compression, anonymous trading, and greater liquidity for investment managers. OpenDoor’s market‐based solution enhances the value of broker/dealers while leveraging their existing franchise. Headquartered in Jersey City, New Jersey, OpenDoor has a client base that consists of central banks, pension funds, sovereign wealth funds, primary dealers, asset managers, hedge funds and trading firms.
About Charles River
Charles River enables sound and efficient investing across all asset classes. Over 350 firms worldwide use Charles River IMS to manage more than US$25 Trillion in assets in the institutional investment, wealth management and hedge fund industries. Our Software as a Service‐based solution automates and simplifies investment management on a single platform – from portfolio management and risk analytics through trading and post‐trade settlement, with integrated compliance and managed data throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 750 employees in 11 regional offices. For more information, please visit www.crd.com.