Securities Financing Industry News | Provable Markets Receives FINRA Broker Application Approval


Provable Markets announces its acceptance to become a member of the Financial Industry Regulatory Authority (FINRA).

The New York-based broker will be able to operate its alternative trading system (ATS), Aurora. The company has filed Form ATS with the Securities and Exchange Commission (SEC), which is the last regulatory approval required before going live.

Aurora seeks to set a higher standard for the management, trading and optimization of collateral by providing subscribers access to digital workflows to engage in securities lending, block option trades and securities swaps.

It leverages the role of Provable Markets as an approved SFT depositor for the Securities Finance Transaction (SFT) service of the Depository Trust & Clearing Corporation (DTCC), providing members of the National Securities Clearing Corporation (NSCC) and sponsored companies the only market-oriented central clearing point. .

The newly built platform is designed to offer flexible levels of integration and interoperability for diverse user needs while maximizing efficiency for all.

Speaking on the announcement, Matt Cohen, Co-Founder and CEO of Provable Markets, said: “It has truly been a team effort from all sides, and we thank FINRA for their diligence and constructive interaction at during this process. We believe that thoughtful solutions for markets and regulation are not diametrically opposed, and we are excited about the impact of this development on our ability to deliver meaningful and lasting improvements to all participants.

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