  We have investigated the X-ray and $\gamma$-ray properties of the redback
millisecond pulsar PSR J1723-2837 with XMM-Newton, Chandra and Fermi. We have
discovered the X-ray orbital modulation of this binary system with the minimum
that coincides with the phases of radio eclipse. The X-ray emission is clearly
non-thermal in nature which can be well described by a simple power-law with a
photon index of $\sim1.2$. The phase-averaged luminosity is
$\sim9\times10^{31}$ erg/s in 0.3-10 keV which consumes $\sim0.2\%$ of the
spin-down power. We have detected the $\gamma-$ray emission in $0.1-300$ GeV
from this system at a significance of $\sim6\sigma$ for the first time. The
$\gamma-$rays in this energy range consumes $\sim2\%$ of the spin-down power
and can be modeled by a power-law with a photon index of $\sim2.6$. We discuss
the high energy properties of the new redback in the context of a intrabinary
shock model.
