Charles River and OpenDoor connect to enhance fixed income offering


By Flora McFarlane.

Charles River has announced a partnership with OpenDoor to provide clients with access to OpenDoor’s all-to-all US Government bond platform, expanding access to fixed income liquidity.

Clients of Massachusetts-based Charles River will be able to utilise OpenDoor’s market-based solution for off-the-run (OFTR) US Treasuries and Treasury Inflation-Protected Securities (TIPS) directly from the Charles River Investment Management Solution (IMS), which it reports is used by over 350 worldwide firms to manage more than US$25 trillion in assets. The Charles River IMS connects buy-side clients to global fixed income venues, enabling them to access to liquidity sources across asset classes, analyse execution quality and demonstrate best execution.

Peter Lambertus, CEO, Charles River said, “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.”

Working with OpenDoor’s solution, which hosts multiple, anonymous trading auctions, concentrating liquidity at certain times of the day, Charles River clients will also be able to participate in daily anonymous auctions directly from their trading blotter. Users of the platform connect to anonymous, session-based trading with zero information leakage™.

Susan Estes, OpenDoor CEO and president, said, “Our collaborative effort to provide trade and post-trade connectivity and settlement speaks to our joint commitment to enhance our mutual clients’ execution quality and access to OFTR US Treasury and TIPS market liquidity,”

Since launching six months ago with a client base consisting of, amongst others, central banks, pension funds, primary dealers and hedge funds, New Jersey-based OpenDoor’s reports order volume has exceeded US$200 billion, with a matched trade volume of US$6.3 billion.

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