OpenYield Trading LLC, a FINRA-registered broker-dealer and SEC-registered alternative trading system (ATS), announced today that Virtu Financial is now live as a liquidity provider on its next-generation bond trading platform. This integration brings one of the world’s leading market makers onto OpenYield’s growing marketplace.
Electronic market makers like Virtu leverage technology and risk management tools to bring more efficiency and transparency to the bond market. As the bond market becomes more electronic, prominent, global market makers have entered the space, bringing technology-driven pricing and steady two-sided liquidity to markets that were once fragmented and dominated by manual voice and chat trading.
Virtu’s addition enhances the breadth and depth of liquidity available to OpenYield subscribers who seamlessly benefit from the growing pool of diverse counterparties providing firm liquidity on OpenYield’s all-to-all marketplace.
“Welcoming Virtu reflects the broader transformation and electronification underway in fixed income,” said Jonathan Birnbaum, Founder & CEO of OpenYield. “As more electronic liquidity providers enter the market, investors gain improved access and more efficient ways to trade bonds.”
“We’re excited to work with OpenYield and support their commitment to deliver liquidity, transparency, and a modern workflow to fixed income market participants,” said Dan Eckstein, Head of Rates Sales at Virtu Financial.
This expansion aligns with OpenYield’s mission to evolve the standards of bond trading through technology and collaboration.
