Provable Markets achieves significant milestone with approval of FINRA broker-dealer application

NEW YORK, Nov. 3, 2021 /PRNewswire/ -- Provable Markets is proud to announce its acceptance as a new member broker-dealer of  the Financial Industry Regulatory Authority (FINRA). Under the terms of its new member agreement, among other business lines, Provable Markets received permission to operate its alternative trading system (ATS), Aurora. The Firm has since promptly filed Form ATS with the Securities and Exchange Commission (SEC), which is the last regulatory approval required before going live.

"As Provable Markets continues to thoughtfully and deliberately execute on the near and long term plans it set out a little under a year ago, we would be remiss if we did not emphasize the importance in reaching this milestone," said Matt Cohen, Co-Founder and CEO of Provable Markets. "This was truly a team effort on all sides, and we thank FINRA for their diligence and constructive interaction during this process. As we have stated many times, we believe that solutions for the markets and regulation are not diametrically opposed, and we are excited about this development's impact on our ability to provide meaningful and lasting improvements for all participants."

The Aurora ATS seeks to set a higher standard for managing, trading, and optimizing collateral by offering subscribers access to pragmatic digital workflows to engage in securities lending, complex option block trades, and security-based swaps. Specific to securities lending, Aurora provides users an access point to leverage Provable Markets' position as an Approved SFT Submitter to the Depository Trust & Clearing Corporation's (DTCC) Securities Finance Transaction (SFT) Service, providing current National Securities Clearing Corporation (NSCC) members and sponsored firms access to central clearing. The newly built platform is designed to offer flexible levels of integration and interoperability for various user needs while maximizing efficiency for all.

About Us
Provable Markets is a New York-based broker-dealer and ATS (pending SEC registration) that is committed to providing an offering that optimizes efficiency, advances technology, and maximizes returns for its customers—and their customers. Provable Markets believes in fairness and equal access to all market participants to fundamentally grow markets without the risks typically associated with information leakage and other contributors to market friction. In partnership with its Amsterdam-based sister, Provable Labs, the company brings research and advice from top-tier academic institutions and thought leaders together with real-world expertise from finance and technology veterans who have track records in building innovative and thoughtful solutions with the highest levels of integrity and fairness.

For more information, please visit us at provablemarkets.com or via email at [email protected].

SOURCE Provable Markets LLC

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