RQD* Clearing partners with Provable Markets鈥� Aurora ATS
22 April 2024 US
Image: Gajus/stock.adobe.com
Clearing, custody and execution solutions provider RQD* Clearing, has formed a strategic partnership with Provable Markets鈥� cloud-native Aurora ATS.
According to the firm, the collaborations enhance RQD* Clearing鈥檚 capacity to offer securities lending and borrowing services to its clients.
The firm will use the National 网爆吃瓜 Clearing Corporation鈥檚 (NSCC) clearing infrastructure, the Depository Trust Company鈥檚 (DTC) settlement functionality, as well as Aurora鈥檚 trading and lifecycle automation.
By joining NSCC鈥檚 网爆吃瓜 Financing Transaction (SFT) clearing service, RQD* Clearing hopes to enhance capital efficiency and reduce credit and operational risk exposure in advance of the move to T+1.
Commenting on the partnership, John Vinci, managing director, head of securities funding and collateral management at DTCC, says: 鈥淩QD* Clearing鈥檚 participation as a member in NSCC鈥檚 SFT clearing service will enable them to extend the benefits of central clearing to their clients.
鈥淎s the industry continues to experience growth in SFTs, it is important that this area of the industry also benefits from the risk management and liquidity capabilities that central clearing provides.鈥�
CEO of Provable Markets Matt Cohen adds: 鈥淸RQD* Clearing鈥檚] participation further enriches our ecosystem and underscores our commitment to providing innovative solutions to the securities lending market.鈥�
According to the firm, the collaborations enhance RQD* Clearing鈥檚 capacity to offer securities lending and borrowing services to its clients.
The firm will use the National 网爆吃瓜 Clearing Corporation鈥檚 (NSCC) clearing infrastructure, the Depository Trust Company鈥檚 (DTC) settlement functionality, as well as Aurora鈥檚 trading and lifecycle automation.
By joining NSCC鈥檚 网爆吃瓜 Financing Transaction (SFT) clearing service, RQD* Clearing hopes to enhance capital efficiency and reduce credit and operational risk exposure in advance of the move to T+1.
Commenting on the partnership, John Vinci, managing director, head of securities funding and collateral management at DTCC, says: 鈥淩QD* Clearing鈥檚 participation as a member in NSCC鈥檚 SFT clearing service will enable them to extend the benefits of central clearing to their clients.
鈥淎s the industry continues to experience growth in SFTs, it is important that this area of the industry also benefits from the risk management and liquidity capabilities that central clearing provides.鈥�
CEO of Provable Markets Matt Cohen adds: 鈥淸RQD* Clearing鈥檚] participation further enriches our ecosystem and underscores our commitment to providing innovative solutions to the securities lending market.鈥�
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