SCOAP³ is a global partnership which converts high-quality subscription journals in the field of High-Energy Physics to Open Access through redirection of existing subscription funds. Since January 1, 2014 the SCOAP³ Gold Open Access Repository is providing free access to scientific articles in high quality journals in the field of High Energy Physics. This article describes this international pilot which flips the current subscription-based financing of scientific publication to an output-based financing model (fair share). This includes a description of the unique mechanisms of SCOAP³ as well as its governance structure and short view on the national German contributing partners, especially the German universities (SCOAP³-DH).