FIXED INCOME

Charles River partners with OpenDoor for fixed income liquidity

Clients using the Charles River IMS will gain access to OpenDoor’s daily anonymous auctions.

By Hayley McDowell hayley.mcdowell@strategic-i.com November 06, 2017 3:56 PM GMT

Charles River has teamed up with OpenDoor to provide its clients with OpenDoor’s all-to-all market service for off-the-run US Treasuries.

The partnership means users will be able to participate in OpenDoor’s anonymous auctions from their trading blotter on a daily basis, through the Charles River Investment Management Solution (IMS).

Peter Lambertus, CEO at Charles River, explained the firm has been working closely with various fixed income venues to expand execution options for its customers directly from the Charles River IMS.

“Our clients are also facing increased regulatory pressure to demonstrate best execution in fixed income markets,” said Lambertus.

“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.”

OpenDoor president and CEO, Susan Estes, added the collaborative effort to provide trade, post-trade connectivity and settlement “speaks to our joint commitment to enhance our mutual clients’ execution quality and access to off-the-run US Treasury and Treasury inflation protected securities (TIPS) market liquidity”.

Since its launch six months ago, OpenDoor says its order volume has exceeded $200 billion, with a matched trade volume of $6.3 billion.