02.25.2020

OpenDoor Names Carson Wong CTO

OpenDoor Appoints Former Fidelity CIO as Chief Technology Officer

20-year Fidelity veteran Wong to work with CEO Susan Estes to drive next phase of platform growth

 

Jersey City, NJ; February 25, 2020 – OpenDoor Securities LLC (“OpenDoor”), the first all-to-all continuous order book for less liquid US Treasuries, has named Carson Wong as Chief Technology Officer. Wong joins OpenDoor from Fidelity Capital Markets Technology, where he was most recently Senior Vice President and Chief Information Officer. As OpenDoor’s CTO, he will work closely with Co-founder, CEO and President Susan Estes to drive the product vision and roadmap for the Company.

 

In his most recent role at Fidelity Capital Markets Technology, Wong headed the firm’s US trading technology division, spearheading the execution of strategic initiatives in partnership with clients across business channels that included Equities Trading, Primes Services, Securities Finance, FX, and Fixed Income Trading. While at Fidelity, Wong also oversaw the technology development of the Luminex Trading and Analytics consortium, working alongside Mike Cashel, who was then the CEO of Luminex. Mike was named OpenDoor’s Chief Operating Officer last September.

“We are excited to welcome Carson to our senior leadership team as we continue to invest heavily in our information technology infrastructure,” said Susan Estes, CEO, President and co-founder of OpenDoor. “Carson’s ability to leverage his deep technical skills to achieve business goals is paramount to our future success as we advance our capabilities, building on our strong foundation to further enhance the speed, simplicity, and reliability of our platform. We are thrilled to have a leader of Carson’s caliber joining OpenDoor at such a pivotal time in our expansion.”

 

Prior to Fidelity, Wong spent six years at Lehman Brothers as Vice President & Global Head of NASDAQ/OTC Equities Trading Systems and as a software engineer for the Equities Trading Technology division.

 

“For the last few years, OpenDoor has carved out an important spot in the US Treasury market, addressing both the technology and structural issues that this market has been facing for decades,” said Wong. “I’m excited to be joining the team during such a time of rapid growth for both the Company and the industry.”

 

OpenDoor’s current CTO Michael Sacks will retire in April 2020. He joined OpenDoor Securities in September 2013 as one of the Company’s first full-time employees.

 

Estes added, “Michael has been an integral part of OpenDoor’s success. His unwavering dedication and commitment to the Company and the platform established the foundation we will continue to build on in the years to come. We wish him nothing but the best in his retirement.”

 

OpenDoor launched its continuous order book for off-the-run US Treasuries and TIPS on January 6 and the platform currently has over 70 buy-side firms along with numerous dealers trading for their own accounts.

 

 

About OpenDoor Securities

OpenDoor is a broker-dealer and financial technology company providing institutional investors tools to improve their execution quality in the most illiquid segments of the U.S. Treasury market, off-the-run Treasuries and TIPS. OpenDoor’s market-based solution enhances the value of the buy-side’s dealer relationships by employing a riskless principal model. The model allows OpenDoor to compensate its intermediaries for executing, clearing and settling matched trades without requiring them to take market risk. Headquartered in Jersey City, New Jersey, OpenDoor has a client base that consists of central banks, pension funds, sovereign wealth funds, primary dealers, asset managers, hedge funds and trading firms.

Related articles

  1. European Investment Bank can directly access LCH’s tri-party basket repo clearing service.

  2. Swap Compressions Hit $500 Trillion

    The platform provides a central limit order book for standardised interest rate derivatives.

  3. High-Touch Sales Traders Go Electronic

    CEO Lee Olesky says "our clients want to do more electronically."

  4. This will aid the transition from LIBOR by providing a rate based on overnight indexed swaps.

  5. European CSA Usage to Expand Ahead of MiFID II

    Third-country benchmarks that are widely used in the EU could become unavailable.