Provable Markets Facilitates First Trade on DTCC's New SFT Clearing Service

The first trade was executed on the Firm's SEC registered ATS, Aurora, and centrally cleared and settled via the SFT Clearing Service on Thursday, October 6, 2022, at 2:26 pm ET. Provable Markets leveraged its integration with FIS Loanet to ensure that the positions were accurately reflected in the Books & Records system for both lender and borrower, in near-real time. Cloud-native Aurora is one of two Approved SFT Submitters for the DTCC's new Service, and the only regulated access point. Aurora provides a full suite of functionality for users, from traditional workflows, towards order book style functionality, leveraging many of the structural nuances the SFT Clearing Service provides the market. Aurora will seek to finally bring central order book style trading to the securities lending market given the reduced operational and risk management burdens that the Approved Submitter and DTCC can offer participants in coordination with the Service.