Provable Markets, operator of the alternative trading system Aurora, has announced the expansion of its Marketplace product to support corporate bonds as a tradeable asset class.
The addition marks a significant step in Provable Markets’ ongoing effort to broaden access to the securities finance space across a wider range of instruments.
By extending Marketplace to fixed income, Provable Markets says it is opening the door to a broader set of participants across the securities finance ecosystem.
The expansion brings the order-based matching architecture and multi-party order display that powers the firm’s equities Marketplace, to fixed income securities finance.
Matt Cohen, CEO and co-founder of Provable Markets, says: “Securities lending for corporate bonds has lagged equities in terms of market structure development.
“Our goal has always been to build a platform that grows with the market — one that lowers the friction of adding new instruments and counterparties rather than compounding it.
“Expanding Marketplace to corporate bonds is a natural extension of what we’ve built, and we’re focused on helping clients put these balances to work more effectively.”
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