Provable Markets raises Series B funding round led by Charles Schwab, with additional participation by DTCC
Rhea-AI Summary
Provable Markets, operator of the Aurora securities finance platform, completed a Series B funding round led by Charles Schwab (NYSE: SCHW), with new participation from DTCC and existing investors Dialectic Capital Management, Inkef and others.
The company reports its Aurora ATS has set records for four consecutive quarters, processing over $30 trillion in monthly order volume. Proceeds will support hiring across commercial, product and engineering, deepen core market infrastructure connectivity, and fund product and geographical expansion.
Positive
- Series B led by Charles Schwab with DTCC as new investor
- Aurora ATS processing over $30 trillion in monthly order volume
- Funding to expand commercial, product and engineering headcount
- Capital earmarked for product and geographical expansion
Negative
- None.
News Market Reaction – SCHW
In the Jul 29 session, SCHW declined 1.42%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of
Key points
- Provable Markets is modernizing securities finance infrastructure through end to end pre-trade, execution, and post-trade solutions for securities finance.
- Series B funding round led by Charles Schwab, with participation by DTCC, existing investors Dialectic Capital Management, Inkef and others.
- The round supports team growth across all facets, further core market infrastructure connectivity, product and geographical expansion.
The investment comes at a pivotal time in the Provable Markets growth story. The platform has posted new records for four consecutive quarters on its ATS processing over
"At Schwab, we value supporting innovative firms and technology that strengthen the financial services ecosystem and enable Schwab to meet the needs of our clients," said Howie Kennedy, Managing Director, Securities Lending, Charles Schwab Corporation. "Provable Markets supports that objective by helping modernize securities finance workflows through automation, connectivity, and scalable solutions, improving capital market efficiency and execution quality."
Provable Markets facilitates end- to- end securities finance workflows through a fully cloud-native offering that boasts deep connectivity into the heart of the US capital markets infrastructure with connectivity to DTCC's clearing agency subsidiaries, National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC), the OCC, and Tri-party Agents. The platform leverages a novel matching engine within its SEC-registered Alternative Trading System (ATS) that provides clients with increased trade automation on a neutral playing field. With a seamless hand off to its Aurora post-trade solution, Provable eliminates historical bottlenecks that cannot be fixed through front-end workflow solutions alone in this highly complex ecosystem. Coupled with access to NSCC's SFT Clearing Service, clients can simultaneously realize significant capital relief under
— Brian Steele, Managing Director, President, Clearing & Securities Services at DTCC, stated, "As demand for securities financing transactions continues to grow, market participants are increasingly seeking solutions that improve capital efficiency while reducing operational complexity. Provable Markets' integration with DTCC's SFT Clearing Service helps participants streamline post-trade processing and unlock the balance sheet benefits of central clearing. By supporting and connecting to innovative platforms like Provable, we are helping create a more efficient and scalable securities finance ecosystem that can support continued growth across the market."
The Series B round will help Provable grow its commercial, product and engineering headcount to support the rapid growth of its client base and related services, while maintaining its level of market leading client service and scalable technology design and architecture. The funds will also drive additional product and geographical expansion.
"We started Provable Markets with the belief that modernizing securities finance is a market structure story that requires a foundational pipes and plumbing approach to rebuild core infrastructure from the bottom up. By maintaining that focus, we have been able to solve real problems for our clients that not only drive scaled automation, but also alleviate the increasingly acute pressures of operational and regulatory capital constraints. Charles Schwab and DTCC's investment validate and fuels our next stage of growth to execute on our vision of becoming core market infrastructure for the rapidly expanding securities finance landscape and beyond."— Matt Cohen, Co-Founder & CEO, Provable Markets
ABOUT PROVABLE MARKETS
Provable Markets is driving market structure change, offering front-to-back trade, lifecycle management, and post-trade solutions for cleared and uncleared SFTs — delivering execution optimization, operational efficiency, cost reduction, and risk mitigation across the value chain. Provable Markets is a FINRA member broker-dealer and SIPC member, and market operator of Aurora, a cloud-native alternative trading system (ATS) regulated by the US Securities and Exchange Commission. For more information, visit provablemarkets.com or contact media@provablemarkets.com.
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SOURCE Provable Markets LLC