BetaNXT, a leading provider of wealth management technology solutions with real-time data capabilities and an enhanced advisor experience, has partnered with Provable Markets to support a real-time integrated solution for mutual clients to have seamless access to the Depository Trust & Clearing Corporation’s (DTCC’s) National Securities Clearing Corporation (NSCC) Securities Financing Transaction (SFT) clearing service.
The partnership gives financial services firms direct connectivity to Provable’s securities lending platform with end-to-end, straight-through processing, in which the NSCC acts as the central counterparty.
“BetaNXT continues to seek meaningful partnerships with industry leaders, such as Provable Markets, that deliver operational efficiencies and mitigate risk throughout the financial services and wealth management ecosystem,” said Bob Santella, CEO of BetaNXT. “This integrated new solution provides a viable alternative to traditional securities financing which is both efficient and safe.”
BetaNXT is one of the largest processors by volume at the DTCC, with deep, multi-year relationships with clients that process annual trade volumes in the millions. Provable Markets is an authorized access point to NSCC’s SFT clearing service, making this partnership a unique opportunity for firms seeking operational efficiency, resource and capital optimization and risk mitigation.
Provable Markets offers a comprehensive suite of cloud native real-time trade matching, fully automated life-cycle management, and post-trade transparency for the front, middle, and back offices, which brings needed efficiency to the evolving securities lending market structure. To learn more, please visit https://provablemarkets.com.
“We are excited to team up with BetaNXT to enable more financial institutions and wealth enterprises the chance to benefit from a frictionless, secure, and risk-mitigated experience for processing and managing their securities lending programs,” said Matt Cohen, Co-Founder and CEO of Provable Markets. “Our mission is to build solutions that help our clients do more, better and faster —and BetaNXT’s track record, aligns with our commitment to making this market easier to enter and more efficient for participants.”