Digital Prime Technologies Appoints James Tabacchi to Board of Directors

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Nov 16, 2023, 10:32 ET

JERSEY CITY, N.J., Nov. 16, 2023 /PRNewswire/ -- Digital Prime Technologies is pleased to announce the appointment of James Tabacchi, President and CEO of South Street Securities Holdings, Inc., to its Board of Directors. Mr. Tabacchi brings a wealth of experience and a track record of strategic leadership that will be instrumental to further drive Digital Prime's growth.

James Runnels, Co-Founder and CEO of Digital Prime Technologies, expressed "We are confident that the addition of Jim and his guidance will help further our agenda to deliver digital asset prime brokerage, borrow/lend and execution solutions with best practices being top of mind. His appointment reinforces our dedication to robust corporate governance and strategic foresight."

Mr. Tabacchi's career in the financial sector is marked by significant achievements and leadership roles that have influenced the industry. His guidance and insights will be vital to Digital Prime as the company seeks to enhance its offering and navigate the complexities of the financial technology landscape.

This announcement comes on the heels of Digital Prime's launch of its Tokenet product last week which was met with great excitement from the industry.

About James Tabacchi

Mr. Tabacchi joined Citicorp/Citibank in 1980. Over a period of 20 years, he worked in various customer interface and business head positions within the Investment, Corporate, and Consumer Banking Divisions. In 1987, Mr. Tabacchi became the regional business manager for the Northeast Division of Citicorp Mortgage, Inc.

In 1989 he was a Division Financial controller in Citicorp's North American Investment Bank. During 1990 Mr. Tabacchi was asked to manage the day-to-day operations of Citibank's Municipal Trust business. He revamped the product lines and packaged the business for sale, which was completed in 1992. He then joined the Finance Desk and was named Treasurer of Citicorp Securities, Inc. in 1995.

As Treasurer, Mr. Tabacchi initiated an engineering effort to securitize Citicorp's fixed income business and move it off the balance sheet. In 1998, he was given additional responsibilities as co-head of the Primary Dealer desk and was accountable for over $50 billion in Securities Assets, Mortgage Loans, Reserves, and Placements. In addition, Mr. Tabacchi was responsible for expanding the Structured Finance Group, which had become the cornerstone of Citibank's fixed income business plans prior to the Citicorp-Travelers merger.

In 2000, Mr. Tabacchi co-founded South Street Securities, Matrix Applications, and several predecessor firms. South Street Securities is a New York-based broker/dealer specializing in securities finance and repurchase agreements for high quality securities. He is Chairman of the Board of the Independent Dealer and Trader Association (IDTA) and in May 2021, he was elected to the DTCC Board of Directors for a five-year term. Mr. Tabacchi's FINRA certifications include Series 7, 63, 27 and 24.

About South Street Securities Holdings, Inc

South Street Securities Holdings, Inc. operates through its wholly owned subsidiaries. Affiliates include South Street Securities LLC, a FINRA and SiPC member, which holds a FICC Tier 1 membership and is focused on repo dealer financing US Treasuries, Agency MBS, TBA mortgage origination hedging and equity finance. Matrix Applications, LLC, a technology and back-office services company, South Street Capital Management, LLC, an asset management company, and AmeriVet Securities, Inc., a FINRA and SiPC member which operates an SEC registered service-disabled veteran and minority owned broker dealer.

About Digital Prime Technologies

Through a multi-faceted product suite, Digital Prime Technologies enables its clients to quickly and easily deploy a full suite of digital asset solutions spanning execution, prime brokerage and lending. The digital assets sector is complicated and evolving rapidly, Digital Prime Technologies is built on TradFi principles and industry practices that are core to US regulated securities markets. Digital Prime Technologies' offering allows broker-dealers and capital markets firms to transact in the digital asset space with robust and fully customizable services suited to their business and compliance needs.

SOURCE Digital Prime Technologies