RBC Clearing & Custody will provide clearing services to OpenYield, a bond marketplace that aims to make trading bonds more like trading equities.
Open Yield operates an alternative trading system (ATS) – the first serviced by RBC Clearing.
David Aronow, Business Development Manager at RBC Clearing & Custody, says OpenYield has the potential to add value to all participants in the fixed-income market.
“We look forward to supporting their business goals strategically by providing innovative technology, world-class products, attentive service and access to the capabilities of the broader RBC enterprise.”
Jonathan Birnbaum, founder and CEO of OpenYield, says by modernizing bond trading, they aim to generate a high volume of tickets.
“We view this clearing relationship as the start of a broader collaboration across their leading fixed income franchise.”
OpenYield offers automated liquidity for corporate bonds, municipal securities, and Treasurys.