OpenDoor Trading, a platform that aims to improve liquidity in the U.S. Treasury bond markets, has appointed electronic trading pioneer Michael Sanderson and fixed income veteran Chris Ferreri to its Advisory Board.
The pair join a board that includes John Brynjolfsson and Kenneth deRegt, formerly of PIMCO and Morgan Stanley respectively.
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Named the Dean of Electronic Trading, Sanderson is considered one of the pioneers of trading technology. He launched Instinet in 1990, which was the first time equities were traded electronically. He has previously served as Chairman and CEO of Reuters Americas, where he oversaw operations in North and South America. He also lead fixed income start-up Bonds.com, which was acquired by the London Stock Exchange Group in 2014. He is currently CEO of MOS Solutions, a business consultancy firm.
Introducing new trading technology into the marketplace is difficult, but with the right leadership and direction, it can create far more liquid trading conditions, said Sanderson. Under the stewardship of Susan Estes, OpenDoor Trading has great potential to transform the way the U.S. government debt markets operate. This will not only benefit the Treasury and market participants, but help blaze a trail for the modernization of many other fixed income platforms.
Chris Ferreri is considered to be an expert in fixed income and market structure. He spent more than three decades at ICAP as a senior Managing Director. In addition to leading the effort to introduce electronic trading to the inter-dealer brokerage firm, he was also responsible for the integration of voice trading protocols into a hybrid trading environment for cash and derivative products. Chris Ferreri is the Chief Operating Officer at Hartfield, Titus and Donnelly, a brokerage firm.
Its no secret that the Treasury market is facing some serious issues right now, so something needs to change with the way buy-side firms are engaging liquidity, said Chris Ferreri. What Susan [Estes] is building at OpenDoor Trading is a solution that will not only tackle this issue, but it will substantially alter the landscape of the US Treasury markets.
We are not only building a platform that will alleviate the issues that the Fed has been trying to address for years, but were also building a team that includes some of the industrys biggest innovators, said Susan Estes, CEO, OpenDoor Trading. Adding Michael and Chris to our Advisory Board is a major step towards our goal of addressing the increasingly urgent challenges that are present in the U.S. Treasury marketplace.
