Summary
Provable Markets is building modern, cloud-native infrastructure for the $173T+ global securities finance market — the plumbing that enables securities lending, borrowing, and financing. Its Aurora ATS (Alternative Trading System) handles $30T+ in monthly order volume and has delivered record performance for four straight quarters. The Series B led by Charles Schwab with DTCC as a new investor validates the thesis that securities finance needs modern infrastructure. The platform connects to DTCC's NSCC SFT Clearing Service, enabling clients to achieve capital relief under Basel rules. The company is SEC-registered and New York-based.
Key Points
- Series B led by Charles Schwab; DTCC as new investor; Dialectic Capital, Inkef continued
- Aurora ATS: $30T+ monthly order volume, record performance for 4 straight quarters
- Cloud-native platform for cleared and uncleared securities financing transactions
- Connected to DTCC's NSCC, DTC, OCC, and Tri-party Agents
- NSCC SFT Clearing Service: capital relief under Basel rules for clients
- Pre-trade, execution, and post-trade capabilities in one platform
- CEO Matt Cohen: "modernizing securities finance is a market structure story"
- DTCC MD Brian Steele: "helping create a more efficient and scalable securities finance ecosystem"
- Funds for: headcount, new products, new geographies, deeper market infrastructure connectivity
- Securities finance market: $173T+ globally, still runs on legacy infrastructure