OpenDoor Trading, a platform designed to restore Off-The-Run Treasury (OFTR’s) and TIPS liquidity, has appointed John Brynjolfsson, formerly of Pimco, and Kenneth deRegt, formerly of Morgan Stanley, to its Board of Advisors.
The addition of these two prominent fixed income figures showcases the compelling industry need for a market structure solution to intractable Treasury market illiquidity. Both Brynjolfsson and deRegt boast decades of executive experience in the fixed income space, and will provide incomparable insight to OpenDoor Trading.
Brynjolfsson previously spent two decades at PIMCO as managing director and portfolio manager, where he launched PIMCO’s Real Return fund, which brought in $80 billion in third-party assets, while also managing the firms’ second, third and fourth largest public funds. Regarded as one of the world’s most prominent authorities on inflation-linked investing, Brynjolfsson has written several books on the topic and worked with the US Treasury to design the TIPS market in 1996. Most notably, Brynjolfsson co-authored the Handbook of Inflation Indexed Bonds, largely considered the foremost guide for bond investing, with award-winning author and industry veteran Frank J. Fabozzi.
deRegt is best known for his 20-year tenure at Morgan Stanley, where he served as Global Head of Fixed Income Sales and Trading and Chief Risk Officer, responsible for overseeing risk management at the firm. Throughout his time at Morgan Stanley, deRegt’s responsibilities ranged across different aspects of the fixed income business, including the firm’s government securities business and certain international businesses. deRegt is a member of the Board of Arxis Capital Group LLC and a graduate of Stanford University.
“For decades, John and Ken have been leading voices in the fixed income space,” said Susan Estes, President & CEO of OpenDoor Trading. “We are eager to have both of their support and guidance as we continue to grow OpenDoor’s market presence and impact.”
“Having studied and practiced fixed income investing for decades, I recognize the necessity of OpenDoor’s crusade to restore liquidity to OFTR’s and TIPS markets,” said Brynjolfsson. “With OpenDoor’s promising market structure solution that the industry desperately needs, I am happy to join the team of battle-tested Treasury professionals.”
OpenDoor Trading was founded in 2015 with the conviction that the time is ripe for new incumbents in the US Treasury market to address market structure challenges and deliver superior liquidity.