RQD* Clearing partners with Provable Markets’ 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’ cloud-native Aurora ATS.
According to the firm, the collaborations enhance RQD* Clearing’s capacity to offer securities lending and borrowing services to its clients.
The firm will use the National Securities Clearing Corporation’s (NSCC) clearing infrastructure, the Depository Trust Company’s (DTC) settlement functionality, as well as Aurora’s trading and lifecycle automation.
By joining NSCC’s Securities 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: “RQD* Clearing’s participation as a member in NSCC’s SFT clearing service will enable them to extend the benefits of central clearing to their clients.
“As 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.”
CEO of Provable Markets Matt Cohen adds: “[RQD* Clearing’s] participation further enriches our ecosystem and underscores our commitment to providing innovative solutions to the securities lending market.”
According to the firm, the collaborations enhance RQD* Clearing’s capacity to offer securities lending and borrowing services to its clients.
The firm will use the National Securities Clearing Corporation’s (NSCC) clearing infrastructure, the Depository Trust Company’s (DTC) settlement functionality, as well as Aurora’s trading and lifecycle automation.
By joining NSCC’s Securities 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: “RQD* Clearing’s participation as a member in NSCC’s SFT clearing service will enable them to extend the benefits of central clearing to their clients.
“As 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.”
CEO of Provable Markets Matt Cohen adds: “[RQD* Clearing’s] participation further enriches our ecosystem and underscores our commitment to providing innovative solutions to the securities lending market.”
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