New Jersey based Treasuries trading platform OpenDoor Trading has raised $10m in Series A funding from undisclosed investors. OpenDoor’s market-based solution is the first session-based, all-to-all, anonymous trading platform for Treasuries, specifically designed to enable the buy-side to both source and create liquidity, while enhancing the sell-side’s role as a value-adding intermediary.
The platform, which launched April 25th, currently boasts nearly three dozen firms representing more than $6 trillion of AUM. Six sponsor-dealers are presently onboarded to trade for their principal accounts, and several have completed full connectivity allowing for customer clearing. Four more are expected to be onboarded in the upcoming months. In the weeks since launch, the OpenDoor platform has gained significant traction, matching multiple billions in US off-the-run Treasuries and TIPS orders with seamless settlement.