Provable Markets has made two hires in its product and sales team to support the growth of its securities finance-focused alternative trading system (ATS) Aurora.

Rachel Andreassian joined the New York-based firm last month as director of product and market structure from Liquidnet, where she was a product manager since 2020. At the TP ICAP-owned trading platform, she focussed on collaboration with buy-side participants on automating workflows into the ATS and algorithms, as well as oversight of the internal trading platforms.

Prior to that, she was at Barclays for five years where she held different roles in electronic equity trading.

Brian Foley joins the New York-headquartered firm as managing director of sales from Proof Trading where he was in charge of sales for the emerging equity execution platform since March 2021.

Prior to this, he oversaw sales and business development at US equity exchange IEX for over seven years and Liquidnet where he started his career in 2001.

Matt Cohen, co-founder and CEO of Provable Markets, said: “With the addition of Rachel and Brian, and their leading industry expertise and talent, Provable Markets is in prime position to execute on its short- and long-term vision.”

The appointments follow the promotion of Halima Butt to chief operating officer in March, who joined the firm last year from Euronext as head of strategy and sales.

The cloud-native Aurora ATS aims to set a higher standard for managing, trading and optimising collateral by offering subscribers access to pragmatic digital workflows for securities lending, complex option block trades and security-based swaps.

In April, Provable Markets partnered with fintech FIS to give clients access to the upcoming securities finance transaction clearing service launching by the Depository Trust & Clearing Corporation.