RQD Partners With Blue Ocean Technologies for Clearing Services

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RQD* Clearing (RQD), a next-generation correspondent clearing provider, announced today that it has teamed up with Blue Ocean Technologies (BOT), a unique capital markets fintech leader specializing in global afterhours trading from 8:00 pm to 4:00 am ET.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, March 21, 2023
Information
Tags: 
Security, Professional Services, Technology, Fintech, Software, FINRA, OCC, DTC, Partnership, NSCC, BOT, RQD, Security (finance)
Geotags: 
UNITED STATES, NORTH AMERICA, NEW YORK
⚠ partially generated by AI ↴
Organisation: 
RQD* CLEARING, RQD* CLEARING, LLC, BLUE OCEAN TECHNOLOGIES, RQD CLEARING
Summary
Key Points: 
  • RQD* Clearing (RQD), a next-generation correspondent clearing provider, announced today that it has teamed up with Blue Ocean Technologies (BOT), a unique capital markets fintech leader specializing in global afterhours trading from 8:00 pm to 4:00 am ET.
  • The partnership leverages RQD’s cutting-edge back office clearing infrastructure by introducing real time overnight trade capture, and straight through processing of clearance for Blue Ocean ATS’s overnight session.
  • Brian Hyndman, President and CEO of Blue Ocean Technologies and Blue Ocean ATS, stated, “We are delighted to be partnering with RQD for our back office clearing needs.
  • RQD is one of the leading innovators in the clearing infrastructure space and shares Blue Ocean’s mission of providing efficiencies and next generation opportunities.


RQD* Clearing (RQD), a next-generation correspondent clearing provider, announced today that it has teamed up with Blue Ocean Technologies (BOT), a unique capital markets fintech leader specializing in global afterhours trading from 8:00 pm to 4:00 am ET. The partnership leverages RQD’s cutting-edge back office clearing infrastructure by introducing real time overnight trade capture, and straight through processing of clearance for Blue Ocean ATS’s overnight session. The transition to RQD became effective on March 1st, 2023.

Brian Hyndman, President and CEO of Blue Ocean Technologies and Blue Ocean ATS, stated, “We are delighted to be partnering with RQD for our back office clearing needs. RQD is one of the leading innovators in the clearing infrastructure space and shares Blue Ocean’s mission of providing efficiencies and next generation opportunities. We are excited to be working with a team of market structure and global fintech professionals that understand the importance of customer service,” he added.

Michael Sanocki, CEO of RQD said “We are excited to partner with another fintech that is disrupting traditional finance. BOT’s mission to transform global trading was a perfect fit for our flexible platform, which we tailored to support BOT in a way clearing firms wedded to legacy vendor technology could not. With our unique test environment, we were able to conduct end-to-end testing with BOT production trades before going live ensuring a seamless transition, in less than a month, from their former clearing firm.”

RQD works with each of its clients in a highly customized manner, optimizing its approach based on the diversified requirements of each institution. RQD’s collective market knowledge and experience allows it to work closely with clients, providing guidance and know-how in areas others do not.

Sanocki added, “BOT's successful launch is a testament to the power of collaboration between fintechs and the potential to drive meaningful change in the industry.”

RQD* Clearing, LLC is registered with the SEC, is a member of FINRA, OCC, DTC and NSCC and has exchange memberships at all major U.S. equities and options market centers.

About Blue Ocean Technologies:

Blue Ocean Technologies, LLC is a unique capital markets fintech company empowering global investors by making trading possible during US overnight trading hours. Blue Ocean ATS, LLC, and its trading system Blue Ocean Alternative Trading System (BOATS), currently trade US National Market System (NMS) stocks from 8:00 pm to 4:00 am ET from Sunday – Thursday. Founded in 2019, Blue Ocean ATS is on a mission to transform US trading to Global trading via its flagship service, Blue Ocean Session, providing access and transparency to subscribers in all time zones during non-traditional US market hours. For more information, visit www.blueocean-tech.io or contact us at [email protected].

About RQD Clearing:

RQD Clearing is a modern correspondent clearing provider, offering advanced clearing, custody, and execution solutions designed to meet the needs of today's dynamic market participants. Built entirely on cloud-native, real-time technology, RQD can quickly and seamlessly enhance its platform, adapt to regulatory changes, mitigate emerging cybersecurity threats, and offer a more efficient implementation that scales as clients grow. Supporting U.S. equities, options, ETFs, and portfolio margin, RQD caters to broker-dealers that service retail, institutional, and active traders, foreign financial institutions and proprietary trading firms. To learn more about RQD’s cutting edge solution, visit www.rqdclearing.com or contact us at [email protected].

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