Nyca Partners and ABN AMRO Clearing Investments have led a Series A financing round in RQD* Clearing, a next-generation correspondent clearing provider based in New York.
Hans Morris, Managing Partner of Nyca Partners, said that clearing is an essential component of every single securities transaction.
While many segments of the investing and trading ecosystem have been transformed by technology, there are no modern, cloud-native, scalable, reliable, and flexible clearing solutions in the market today, he said.
“RQD will continue to be a compelling platform for broker-dealers, fintechs, and other market participants. RQD’s achievements in such a short period of time are very impressive,” he said.
Jan Bart de Boer, Chief Commercial Officer of ABN AMRO Clearing, added: “We are pleased to support RQD in their growth story. RQD is complementary to our own platforms.”
Since its launch in 2021, RQD has experienced substantial growth with its cloud-native correspondent clearing platform processing billions of dollars of US equity and options trading activity daily.
In addition to portfolio margin, RQD supports U.S. equities, options, ETFs, and other securities, catering to broker-dealers that service retail, institutional, and active traders, foreign financial institutions, and proprietary trading firms.
The new investment will allow RQD to more rapidly expand its service offering, global reach, and onboard larger, more demanding clients.
Michael Sanocki, CEO of RQD, said: “We are thrilled to partner with Nyca Partners and ABN AMRO Clearing. The synergies between our firms and wealth of collective knowledge will be powerful catalysts for taking the business to the next level.”
“This funding enables us to better meet the needs of today’s dynamic market and provide a modern, user-friendly, and seamless experience for our clients,” he said.
This is the second investment received by RQD.
In March 2023, the clearing provider secured a strategic investment from Belvedere Strategic Capital.
