MINNEAPOLIS (Oct. 30, 2024) — RBC Clearing & Custody announced today that they will provide clearing services to cloud-based electronic trading firm Proof Services.
Proof Services was established in 2019 and provides institutional investors algorithmic trading capabilities for U.S. equities. During this next phase of growth, RBC Clearing & Custody will process large trade transactions as an integral part of Proof Services’ workflow.
“RBC Clearing & Custody is well-positioned to support Proof Services as they methodically grow their business,” said David Aronow, Business Development Manager at RBC Clearing & Custody. “Our goal is to use our strength and stability as a top clearing firm, combined with our excellent products and services, to help Proof Services attain their goals.”
“It’s exciting to be partnering with RBC Clearing & Custody,” added Daniel Aisen, CEO of Proof Services. “This relationship will allow us to process significantly larger trades and volumes for our institutional clients.”
Greg Plifka, Chief Revenue Officer, RBC Clearing & Custody said: “Proof Services reflects our ongoing commitment to working with the best broker-dealers in the institutional space. Through our partnership, RBC Clearing & Custody aims to help Proof Services meet their client’s increasing trading needs.”
About RBC Clearing & CustodyRBC Clearing & Custody provides clearing, custodian and execution services for independent broker-dealers and registered investment advisors. A leader in the U.S. brokerage industry since 1909 and a custody and clearing leader since 1979, RBC Clearing & Custody specializes in delivering innovative technology, fiscal strength, world-class resources and attentive service to help financial services providers accomplish their business goals.
RBC Clearing & Custody is a division of RBC Capital Markets LLC, member NYSE/FINRA/SIPC, a wholly owned subsidiary of Royal Bank of Canada (RBC). For more information, please visit www.rbcclearingandcustody.com.
About Proof ServicesProof Trading is an unconflicted agency broker for U.S. Equities with a focus on accountability, transparency, and scientific rigor. As an execution-only broker dealer, Proof builds algorithms to navigate the market on behalf of institutional clients and provide unprecedented levels of transparency with products that are designed to be both highly accountable and highly performant. Proof’s products leverage a rigorous scientific research process and operate on a flexible, state-of-the-art trading platform built in-house in the cloud. Proof is changing the trading experience of long-term institutional investors, find out more at https://prooftrading.com/.
Securities transactions are conducted through Proof Services LLC (“PSL”), a broker-dealer subsidiary of Proof Trading, Inc. Proof Services LLC is a member of FINRA and SIPC.
Media contactCaitlin Wilson, RBC Wealth Management, Caitlin.Wilson@rbc.com