RQD Clearing has secured a $74 million minority growth investment led by Bain Capital Tech Opportunities, with participation from ABN AMRO Clearing Bank and Nyca Partners.
RQD plans to use the funding to expand across North America, Asia and the Middle East while accelerating investments in its technology and product capabilities. The company is also targeting digital assets and tokenization and plans to strengthen its position as a custody infrastructure provider for digital assets.
RQD provides clearing and custody infrastructure to broker-dealers, RIAs and foreign financial institutions accessing U.S. markets. Its proprietary infrastructure gives clients real-time access to clearing, custody and risk data and supports extended-hours trading, equities, options, ETFs and mutual funds.
RQD has processed more than 543 million ledger transactions year to date and cleared approximately 515 million equity transactions involving 69.5 billion shares and nearly $2 trillion in notional value, representing approximately 2.43% of the NMS equities market. It also cleared nearly 64.8 million options contracts representing $120.7 billion in premiums and $3.93 trillion in notional value.
Bain Capital joins an existing investor group that includes ABN AMRO Clearing Bank, Nyca Partners, Gentree Fund and Belvedere Strategic Capital.
KEY QUOTES:
“This investment marks a significant milestone for RQD, validating the platform we have built and the enormous opportunity ahead. Bain Capital brings deep financial technology expertise, operating capabilities and a global network, making them the ideal partner for our next phase of growth. Financial institutions should not have to choose between the technology and agility of a fintech and the market-structure expertise, risk management and infrastructure of an institutional clearing firm. We built RQD* to deliver both, and Bain Capital’s investment will help us accelerate that mission while continuing to deliver the flexibility and service our clients expect.”*
Michael Sanocki, CEO of RQD Clearing
“Michael and RQD‘s experienced team of industry experts have done an impressive job building the Company into a highly differentiated clearing and custody business. As capital markets become more global, digital and continuous, RQD* provides the mission-critical infrastructure financial institutions and fintech platforms need to keep pace. RQD* has demonstrated that its platform can support sophisticated clients at meaningful scale while maintaining the flexibility and responsiveness financial institutions increasingly demand. We look forward to partnering with the team as the Company expands its capabilities and global reach.”*
Michael Grandfield, Partner at Bain Capital Tech Opportunities
