Provable Markets forms alliance with FIS
12 April 2022 US
Image: Diki/stock.adobe.com
Provable Markets, a US-based broker-dealer and alternative trading system (ATS), has announced an alliance with FIS to allow clients access to the Depository Trust and Clearing Corporation (DTCC) SFT Clearing Service.
The partnership will integrate Provable Markets鈥� SEC registered securities finance focused ATS, Aurora, and FIS鈥� Securities Lending Processing Platform and related product suite.
All National Securities Clearing Corporation members, and sponsored access firms who are customers of FIS Loanet, will have immediate access to DTCC鈥檚 service with minimal disruption to current workflows at little cost.
As a result, interested SFT Service participants can onboard and begin trading with 鈥榣ittle to no friction鈥�, reaping the benefits of Aurora鈥檚 architecture.
Matthew Cohen, co-founder and CEO of Provable Markets, comments: 鈥淲hat once took months, if not years, bogged down by long-term contracts and heavy internal burdens for onboarding, can now be done in a matter of weeks, or even days, with this alliance. We are excited to see the industry collaborating to use its relative strengths to provide the market with more pragmatic solutions.鈥�
The partnership will integrate Provable Markets鈥� SEC registered securities finance focused ATS, Aurora, and FIS鈥� Securities Lending Processing Platform and related product suite.
All National Securities Clearing Corporation members, and sponsored access firms who are customers of FIS Loanet, will have immediate access to DTCC鈥檚 service with minimal disruption to current workflows at little cost.
As a result, interested SFT Service participants can onboard and begin trading with 鈥榣ittle to no friction鈥�, reaping the benefits of Aurora鈥檚 architecture.
Matthew Cohen, co-founder and CEO of Provable Markets, comments: 鈥淲hat once took months, if not years, bogged down by long-term contracts and heavy internal burdens for onboarding, can now be done in a matter of weeks, or even days, with this alliance. We are excited to see the industry collaborating to use its relative strengths to provide the market with more pragmatic solutions.鈥�
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