post-trade
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The $6 Trillion Blockchain You Have Never Heard Of
It does not run a token you can buy on Coinbase. It runs the ledger under $6 trillion of tokenized assets - and Wall Street's biggest names are the ones building on 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.
Provable Markets
Provable Markets is a New York-based financial technology company modernizing the securities lending and securities finance markets. Through Aurora, its SEC-registered, vertically integrated Alternative Trading System, it combines encrypted real-time order matching, automated post-trade lifecycle management, and connectivity to central clearing (NSCC CCP) and settlement (DTC) infrastructure. Founded in 2020 by CEO Matthew Cohen and rooted in cryptographic research on secure multi-party computation, the company aims to replace the instant-message-and-spreadsheet workflows of a roughly trillion-dollar market with cloud-native, low-latency, transparent trading.
Matthew Cohen
Matthew Cohen is the co-founder and chief executive of Provable Markets, a New York fintech running Aurora, an SEC-registered Alternative Trading System for securities lending. After 15 years trading equity finance at Bank of America Merrill Lynch, Jefferies, and Nomura, Cohen partnered with cryptographer Thomer Gil in 2020 to apply secure multi-party computation to a market that had run for decades on phone calls, spreadsheets, and information leakage. In 2022 Provable ran the first securities lending transaction cleared through DTCC's SFT service. In May 2024 the company raised an $8M Series A led by Dialectic Capital Management.
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.
Baton Systems
Baton Systems is a post-trade infrastructure company that uses a shared permissioned ledger to give banks real-time control over collateral, payments and FX settlement. Its Core platform connects to legacy systems without ripping them out, and is already used by some of the largest banks in the world to move trillions of dollars with bank-grade safety in minutes instead of days.
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.