SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of U.S. markets, Charles Schwab and DTCC.Key pointsProvable

<p xmlns="http://www.w3.org/1999/xhtml">SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of U.S. markets, Charles Schwab and DTCC.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Key points</b></p><ul xmlns="http://www.w3.org/1999/xhtml" type="disc"><li xmlns="http://www.w3.org/1999/xhtml">Provable Markets is modernizing securities finance infrastructure through end to end pre-trade, execution, and post-trade solutions for securities finance.</li><li xmlns="http://www.w3.org/1999/xhtml">Series B funding round led by Charles Schwab, with participation by DTCC, existing investors Dialectic Capital Management, Inkef and others.</li><li xmlns="http://www.w3.org/1999/xhtml">The round supports team growth across all facets, further core market infrastructure connectivity, product and geographical expansion.</li></ul><p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">NEW YORK</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">July 29, 2026</span> /PRNewswire/ -- <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=4111898069&amp;u=https%3A%2F%2Fprovablemarkets.com%2F&amp;a=Provable+Markets" target="_blank" rel="nofollow">Provable Markets</a>, operator of the securities finance platform Aurora, today announced the completion of its Series B investment round led by Charles Schwab (NYSE: <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=3243549431&amp;u=https%3A%2F%2Fwww.nyse.com%2Fquote%2FXNYS%3ASCHW&amp;a=SCHW" target="_blank" rel="nofollow">SCHW</a>), with The Depository Trust &amp; Clearing Corporation (<a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=2235454974&amp;u=https%3A%2F%2Fwww.dtcc.com%2F&amp;a=DTCC" target="_blank" rel="nofollow">DTCC</a>) joining as a new investor, and participation from existing investors Dialectic Capital Management, Inkef and others. </p>
    <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1">
                <p xmlns="http://www.w3.org/1999/xhtml">
                    <img xmlns="http://www.w3.org/1999/xhtml" src="https://mmx.prnewswire.com/media/MS1385112/Provable-Markets-Gradient-on-Light-png-1600-Logo.jpg?id=OA2799098" title="" alt=""></img>
                </p>
    </div>
<p xmlns="http://www.w3.org/1999/xhtml">The investment comes at a pivotal time in the Provable Markets growth story. The platform has posted new records for four consecutive quarters on its ATS processing over $30 trillion in monthly order volume.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">&#34;At Schwab, we value supporting innovative firms and technology that strengthen the financial services ecosystem and enable Schwab to meet the needs of our clients,&#34; said Howie Kennedy, Managing Director, Securities Lending, Charles Schwab Corporation. &#34;Provable Markets supports that objective by helping modernize securities finance workflows through automation, connectivity, and scalable solutions, improving capital market efficiency and execution quality.&#34;</b></p><p xmlns="http://www.w3.org/1999/xhtml">Provable Markets facilitates end- to- end securities finance workflows through a fully cloud-native offering that boasts deep connectivity into the heart of the US capital markets infrastructure with connectivity to DTCC&#39;s clearing agency subsidiaries, National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC), the OCC, and Tri-party Agents. The platform leverages a novel matching engine within its SEC-registered Alternative Trading System (ATS) that provides clients with increased trade automation on a neutral playing field. With a seamless hand off to its Aurora post-trade solution, Provable eliminates historical bottlenecks that cannot be fixed through front-end workflow solutions alone in this highly complex ecosystem. Coupled with access to NSCC&#39;s SFT Clearing Service, clients can simultaneously realize significant capital relief under Basel regulatory frameworks to generate further ROI for their businesses and expand their trading opportunities.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">— Brian Steele, Managing Director, President, Clearing &amp; Securities Services at DTCC, stated, &#34;As demand for securities financing transactions continues to grow, market participants are increasingly seeking solutions that improve capital efficiency while reducing operational complexity. Provable Markets&#39; integration with DTCC&#39;s SFT Clearing Service helps participants streamline post-trade processing and unlock the balance sheet benefits of central clearing. By supporting and connecting to innovative platforms like Provable, we are helping create a more efficient and scalable securities finance ecosystem that can support continued growth across the market.&#34;</b></p><p xmlns="http://www.w3.org/1999/xhtml">The Series B round will help Provable grow its commercial, product and engineering headcount to support the rapid growth of its client base and related services, while maintaining its level of market leading client service and scalable technology design and architecture. The funds will also drive additional product and geographical expansion.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">&#34;We started Provable Markets with the belief that modernizing securities finance is a market structure story that requires a foundational pipes and plumbing approach to rebuild core infrastructure from the bottom up. By maintaining that focus, we have been able to solve real problems for our clients that not only drive scaled automation, but also alleviate the increasingly acute pressures of operational and regulatory capital constraints. Charles Schwab and DTCC&#39;s investment validate and fuels our next stage of growth to execute on our vision of becoming core market infrastructure for the rapidly expanding securities finance landscape and beyond.&#34;— Matt Cohen, Co-Founder &amp; CEO, Provable Markets</b></p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">ABOUT PROVABLE MARKETS</b></p><p xmlns="http://www.w3.org/1999/xhtml">Provable Markets is driving market structure change, offering front-to-back trade, lifecycle management, and post-trade solutions for cleared and uncleared SFTs — delivering execution optimization, operational efficiency, cost reduction, and risk mitigation across the value chain. Provable Markets is a FINRA member broker-dealer and SIPC member, and market operator of Aurora, a cloud-native alternative trading system (ATS) regulated by the US Securities and Exchange Commission. For more information, visit provablemarkets.com or contact <a xmlns="http://www.w3.org/1999/xhtml" href="mailto:media@provablemarkets.com" target="_blank" rel="nofollow">media@provablemarkets.com</a>. </p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=NY14571&amp;sd=2026-07-29"></img> View original content to download multimedia:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/provable-markets-raises-series-b-funding-round-led-by-charles-schwab-with-additional-participation-by-dtcc-302837256.html" target="_blank">https://www.prnewswire.com/news-releases/provable-markets-raises-series-b-funding-round-led-by-charles-schwab-with-additional-participation-by-dtcc-302837256.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Provable Markets LLC</p>

SCHW

Provable Markets raises Series B funding round led by Charles Schwab, with additional participation by DTCC

Schwab Leads Provable Markets Series B; DTCC backs expansion in securities finance

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of U.S. markets, Charles Schwab and DTCC.Key pointsProvable</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Provable Markets announced a Series B round led by Charles Schwab, with DTCC as a new investor, to accelerate Aurora and post-trade services. The round funds growth in commercial, product, and engineering headcount and geographic expansion as Provable touts over $30 trillion in monthly ATS order volume and four straight quarterly records, underscoring demand for modernized securities finance infrastructure.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Provable Markets completes Series B led by Schwab; DTCC joins as new investor.</li><li>Series B funds will grow Provable&#039;s headcount and expansion.</li><li>Provable reports over $30 trillion monthly ATS order volume for four quarters.</li><li>Schwab cites supporting innovative firms and capital efficiency in financial services.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Provable Markets LLC (N/A)</strong>: Operator of the Aurora ATS; Series B funding underscores market infrastructure shift.</li><li><strong>Charles Schwab Corporation (SCHW)</strong>: Lead investor; potential collaboration with Provable; strategic exposure to securities finance tech.</li><li><strong>The Depository Trust &amp; Clearing Corporation (DTCC)</strong>: New investor; strengthens post-trade clearing connectivity with NSCC and DTC.</li><li><strong>Dialectic Capital Management (N/A)</strong>: Existing investor; backing signals diverse capital support.</li><li><strong>Inkef (N/A)</strong>: Existing investor; supports growth and scale.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Category: Industry News. Highlights ongoing infrastructure modernization in securities finance and SCHW&#039;s strategic alignment with Provable&#039;s platform.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>SCHW-led Series B signals strategic interest in modernized securities finance.</li><li>Provable&#039;s ATS processes over $30 trillion monthly order volume.</li><li>DTCC becomes new investor, boosting post-trade clearing connectivity.</li><li>Potential for deeper SCHW–Provable collaboration to enhance client services.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date: July 29, 2026.</li><li>Series B led by Schwab; DTCC joins as new investor.</li><li>Other investors: Dialectic Capital Management and Inkef.</li><li>Provable&#039;s Aurora is an SEC-registered ATS.</li><li>Aurora connects to NSCC, DTC, OCC, Tri-party Agents.</li><li>Funds earmarked for commercial, product, engineering headcount and geographic expansion.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Moderately bullish for SCHW over 6–12 months due to strategic infrastructure exposure.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of U.S. markets, Charles Schwab and DTCC.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Key points</b></p><ul xmlns="http://www.w3.org/1999/xhtml" type="disc"><li xmlns="http://www.w3.org/1999/xhtml">Provable Markets is modernizing securities finance infrastructure through end to end pre-trade, execution, and post-trade solutions for securities finance.</li><li xmlns="http://www.w3.org/1999/xhtml">Series B funding round led by Charles Schwab, with participation by DTCC, existing investors Dialectic Capital Management, Inkef and others.</li><li xmlns="http://www.w3.org/1999/xhtml">The round supports team growth across all facets, further core market infrastructure connectivity, product and geographical expansion.</li></ul><p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">NEW YORK</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">July 29, 2026</span> /PRNewswire/ -- <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=4111898069&amp;u=https%3A%2F%2Fprovablemarkets.com%2F&amp;a=Provable+Markets" target="_blank" rel="nofollow">Provable Markets</a>, operator of the securities finance platform Aurora, today announced the completion of its Series B investment round led by Charles Schwab (NYSE: <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=3243549431&amp;u=https%3A%2F%2Fwww.nyse.com%2Fquote%2FXNYS%3ASCHW&amp;a=SCHW" target="_blank" rel="nofollow">SCHW</a>), with The Depository Trust &amp; Clearing Corporation (<a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4741246-1&amp;h=2235454974&amp;u=https%3A%2F%2Fwww.dtcc.com%2F&amp;a=DTCC" target="_blank" rel="nofollow">DTCC</a>) joining as a new investor, and participation from existing investors Dialectic Capital Management, Inkef and others. </p>
    <div xmlns="http://www.w3.org/1999/xhtml" class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1">
                <p xmlns="http://www.w3.org/1999/xhtml">
                    <img xmlns="http://www.w3.org/1999/xhtml" src="https://mmx.prnewswire.com/media/MS1385112/Provable-Markets-Gradient-on-Light-png-1600-Logo.jpg?id=OA2799098" title="" alt=""></img>
                </p>
    </div>
<p xmlns="http://www.w3.org/1999/xhtml">The investment comes at a pivotal time in the Provable Markets growth story. The platform has posted new records for four consecutive quarters on its ATS processing over $30 trillion in monthly order volume.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">&#34;At Schwab, we value supporting innovative firms and technology that strengthen the financial services ecosystem and enable Schwab to meet the needs of our clients,&#34; said Howie Kennedy, Managing Director, Securities Lending, Charles Schwab Corporation. &#34;Provable Markets supports that objective by helping modernize securities finance workflows through automation, connectivity, and scalable solutions, improving capital market efficiency and execution quality.&#34;</b></p><p xmlns="http://www.w3.org/1999/xhtml">Provable Markets facilitates end- to- end securities finance workflows through a fully cloud-native offering that boasts deep connectivity into the heart of the US capital markets infrastructure with connectivity to DTCC&#39;s clearing agency subsidiaries, National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC), the OCC, and Tri-party Agents. The platform leverages a novel matching engine within its SEC-registered Alternative Trading System (ATS) that provides clients with increased trade automation on a neutral playing field. With a seamless hand off to its Aurora post-trade solution, Provable eliminates historical bottlenecks that cannot be fixed through front-end workflow solutions alone in this highly complex ecosystem. Coupled with access to NSCC&#39;s SFT Clearing Service, clients can simultaneously realize significant capital relief under Basel regulatory frameworks to generate further ROI for their businesses and expand their trading opportunities.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">— Brian Steele, Managing Director, President, Clearing &amp; Securities Services at DTCC, stated, &#34;As demand for securities financing transactions continues to grow, market participants are increasingly seeking solutions that improve capital efficiency while reducing operational complexity. Provable Markets&#39; integration with DTCC&#39;s SFT Clearing Service helps participants streamline post-trade processing and unlock the balance sheet benefits of central clearing. By supporting and connecting to innovative platforms like Provable, we are helping create a more efficient and scalable securities finance ecosystem that can support continued growth across the market.&#34;</b></p><p xmlns="http://www.w3.org/1999/xhtml">The Series B round will help Provable grow its commercial, product and engineering headcount to support the rapid growth of its client base and related services, while maintaining its level of market leading client service and scalable technology design and architecture. The funds will also drive additional product and geographical expansion.</p><p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><b xmlns="http://www.w3.org/1999/xhtml">&#34;We started Provable Markets with the belief that modernizing securities finance is a market structure story that requires a foundational pipes and plumbing approach to rebuild core infrastructure from the bottom up. By maintaining that focus, we have been able to solve real problems for our clients that not only drive scaled automation, but also alleviate the increasingly acute pressures of operational and regulatory capital constraints. Charles Schwab and DTCC&#39;s investment validate and fuels our next stage of growth to execute on our vision of becoming core market infrastructure for the rapidly expanding securities finance landscape and beyond.&#34;— Matt Cohen, Co-Founder &amp; CEO, Provable Markets</b></p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">ABOUT PROVABLE MARKETS</b></p><p xmlns="http://www.w3.org/1999/xhtml">Provable Markets is driving market structure change, offering front-to-back trade, lifecycle management, and post-trade solutions for cleared and uncleared SFTs — delivering execution optimization, operational efficiency, cost reduction, and risk mitigation across the value chain. Provable Markets is a FINRA member broker-dealer and SIPC member, and market operator of Aurora, a cloud-native alternative trading system (ATS) regulated by the US Securities and Exchange Commission. For more information, visit provablemarkets.com or contact <a xmlns="http://www.w3.org/1999/xhtml" href="mailto:media@provablemarkets.com" target="_blank" rel="nofollow">media@provablemarkets.com</a>. </p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=NY14571&amp;sd=2026-07-29"></img> View original content to download multimedia:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/provable-markets-raises-series-b-funding-round-led-by-charles-schwab-with-additional-participation-by-dtcc-302837256.html" target="_blank">https://www.prnewswire.com/news-releases/provable-markets-raises-series-b-funding-round-led-by-charles-schwab-with-additional-participation-by-dtcc-302837256.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Provable Markets LLC</p>

Provable Markets announced a Series B round led by Charles Schwab, with DTCC as a new investor, to accelerate Aurora and post-trade services. The round funds growth in commercial, product, and engineering headcount and geographic expansion as Provable touts over $30 trillion in monthly ATS order volume and four straight quarterly records, underscoring demand for modernized securities finance infrastructure.

News insight

Provable Markets raises Series B funding round led by Charles Schwab, with additional participation by DTCC

AI summary

Sentiment rationale

Key facts

Industry News