They join a Board that already boasts bond market experts John Brynjolfsson and Kenneth deRegt, formerly of PIMCO and Morgan Stanley respectively.

Sanderson, named the “Dean of Electronic Trading”, is one of the pioneers of trading technology. When he launched Instinet in 1990, it was the first time equities were traded electronically. Since then he has played a leading role in the use of technology to drive more efficient markets, as Chairman and CEO of Reuters Americas, where he oversaw all company operations in North and South America to leading fixed income start-up Bonds.com, which was bought 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 Michael 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, an expert in fixed income and market structure, offers extensive experience in leveraging innovative technology with the latest business models, having spent more than three decades at ICAP as a senior Managing Director. In addition to leading the effort to introduce electronic trading to the world’s leading 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. Ferreri has spoken at numerous industry conferences and events in recent years as an expert in the implications of the post-financial crisis regulatory framework on market structure.

“It’s 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.”

Chris Ferreri is the Chief Operating Officer at Hartfield, Titus and Donnelly, LLC, one of the largest and most diverse brokers in the industry. Ferreri oversees all of the firm’s municipal bond brokerage services.

“We are not only building a platform that will alleviate the issues that the Fed has been trying to address for years, but we’re also building a team that includes some of the industry’s 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.”

OpenDoor was formed 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.