The first majority women-owned and controlled bond trading platform is set to launch in the US.
OpenDoor Trading will use a recent $10 million investment to launch the platform, described as an “innovative all-to-all trading platform for off-the-run treasuries and TIPS.”
Co-founder Susan Estes – who has worked for Morgan Stanley and Deutsche Bank in the past - and other female investors, now control more than 65% of the voting interest at OpenDoor.
The platform will allow “discreet trading sessions with a variety of protocols to match the needs of end-users, and improve liquidity in the systemically important US treasury market.”
Estes explained OpenDoor will provide a source of liquidity to off-the-run US treasury and TIPS trading.
She added: “It has only been possible to get to this stage – and address the most significant pain points within a new market structure – because of consistent input from participants.”
The launch of the trading platform is set for later this year.