clearing
(6)
Cboe Global Markets
The company that gave Wall Street a fear gauge now sells the pipes, prices and products behind an increasingly global, nearly round-the-clock market. Its advantage is less a single exchange than a feedback loop: invent the contract, gather the liquidity, distribute the data, then teach the next wave of traders how to use it.
FIA Tech
FIA Tech is the leading technology provider to the global exchange-traded and cleared derivatives industry, owned by a consortium of major clearing firms and the Futures Industry Association. Its platform automates post-trade processing - brokerage calculation and settlement, give-up agreements, reference data, OCR compliance and reconciliation - and its flagship Trade Data Network provides a shared ledger of trading information to bring transparency to fragmented ETD post-trade markets. More than 8,000 futures market participants use its services.
RQD* Clearing
RQD* Clearing is a New York-based correspondent clearing firm that provides clearing, custody, and execution services for broker-dealers on a cloud-native, real-time platform. Spun out of options market maker Volant, it self-clears U.S. equities, options, and ETFs, positioning itself as a modern alternative to legacy clearing providers with direct API integration, 24x5 availability, and infrastructure built on Microsoft Azure.
Michael Sanocki
Michael Sanocki is the founder and CEO of RQD* Clearing, a New York-based cloud-native correspondent clearing firm that processes billions of dollars of US equity and options trades daily. An attorney by training who spent years inside the SEC, the ISE options exchange, and Volant Trading before running RQD, he argues that legacy clearing is 'broken' and is rebuilding it in real time on Microsoft Azure.
Nick Solinger
Nick Solinger is President and CEO of FIA Tech, the derivatives market infrastructure company owned by a consortium of clearing firms and the Futures Industry Association. He leads the Trade Data Network, the post-trade processing hub that quietly moves listed derivatives trades among executing brokers, clearing brokers, and end clients. A CFA charterholder with an MIT computer science degree, he spent much of the 2000s and 2010s at Traiana building the Harmony network before taking over FIA Tech in January 2016.
Arjun Jayaram
Arjun Jayaram is the Founder and CEO of Baton Systems, a San Francisco-based fintech company rebuilding post-trade infrastructure for the world's largest financial institutions. A serial technologist who previously co-founded Compass Labs (acquired by Yahoo) and held roles at Twitter and Dwolla, Jayaram identified a stubborn problem in the financial plumbing - that moving digital assets across different ledgers was the real bottleneck, not the digitization of assets themselves. Under his leadership, Baton's platform now processes nearly $30 billion in daily transaction value for seven of the nine largest western banks, enabling real-time settlement and intraday liquidity management without requiring institutions to replace their core systems.