BetaNXT and Provable Markets Offer Revolutionary SFT Solutions
BetaNXT Partners with Provable Markets for Enhanced Solutions
BetaNXT Continues to Work with Partners to Create Frictionless End-to-End Processing
BetaNXT, a prominent name in wealth management technology solutions, has joined forces with Provable Markets to create an innovative real-time integrated solution. This collaboration allows clients to seamlessly access the capabilities of the Depository Trust & Clearing Corporation's (DTCC) National Securities Clearing Corporation (NSCC) Securities Financing Transaction (SFT) clearing service.
The partnership enhances operations for financial services firms by providing direct connectivity to Provable’s securities lending platform. This integration promotes end-to-end, straight-through processing with NSCC as the central counterparty.
Bob Santella, CEO of BetaNXT, expressed enthusiasm about the partnership: "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. This integrated solution offers a viable alternative to traditional securities financing while ensuring efficiency and safety."
As one of the largest processors by volume at the DTCC, BetaNXT has established strong relationships with clients processing millions of annual trade volumes. Meanwhile, Provable Markets serves as an authorized access point to NSCC's SFT clearing service, making this collaboration a unique opportunity for firms striving for operational efficiency, resource optimization, and risk reduction.
Provable Markets provides a robust suite of capabilities, including cloud-native real-time trade matching, fully automated life-cycle management, and enhanced post-trade transparency for all operational aspects. These services target the evolving securities lending market, aiming to improve overall efficiency.
Matt Cohen, Co-Founder and CEO of Provable Markets, remarked, "We are thrilled to partner with BetaNXT to deliver a secure, risk-mitigated experience in processing and managing securities lending programs. Our goal is to create solutions that empower our clients to operate more effectively, and BetaNXT’s proven track record aligns perfectly with our vision for streamlined market access."
About BetaNXT
BetaNXT is committed to shaping the future of connected wealth management. The company focuses on building innovative platforms and cultivating partnerships that drive growth. It offers cutting-edge wealth management enterprise solutions, enhanced advisor experiences, and advanced real-time data capabilities. By embracing a software, data, and operations-as-a-service approach, BetaNXT equips clients with flexible and efficient solutions catered to their evolving needs. This comprehensive model not only reduces costs but also optimizes operational processes, bolstering advisor productivity and enriching the investor experience.
About Provable Markets
Provable Markets is pioneering changes in market structure by providing complete trade life-cycle management and post-trade solutions for both cleared and uncleared SFTs. These offerings focus on optimizing execution and enhancing operational efficiency while minimizing costs and mitigating risks throughout the value chain.
Provable Markets is a member of both FINRA and SIPC, operating as a market operator of the regulatory cloud-native trading platform, Aurora, which adheres to regulations established by the US Securities and Exchange Commission.
Frequently Asked Questions
What is the significance of BetaNXT’s partnership with Provable Markets?
This partnership enables seamless integration of securities lending solutions, enhancing operational efficiency for financial institutions.
What does the new SFT clearing solution offer clients?
Clients gain direct connectivity to a comprehensive securities lending platform that reduces operational complexities and risk.
How does BetaNXT enhance the client experience?
BetaNXT focuses on providing innovative solutions that streamline processes and elevate the overall advisor experience.
What technologies are integrated in the partnership?
The partnership combines cloud-native technology, real-time data capabilities, and automated trade life-cycle management.
Where can more information about BetaNXT and Provable Markets be found?
Details can be found on their respective websites, where they provide insights into their offerings and innovations.
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