This article was originally published on Risk.net. Read the full piece highlighting OpenYield HERE.
Start-up OpenYield is preparing to launch a new fixed-income platform aimed at giving investment advisers, wealth managers and their clients the kind of routine access to competitive electronic liquidity taken for granted by institutional investors.
The Securities and Exchange Commission (SEC) authorised OpenYield to begin operating as an alternative trading system (ATS) in October. It is set to launch in 2024, offering trading of institutional grade and high yield corporate debt, US municipal bonds and US Treasuries.
The company is in the final stages of onboarding broker subscribers and their algo-generated orders into the platform as liquidity providers, but it envisions activity to take off from launch.