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Finstreet receives approval for digital trading platform in Abu Dhabi’s ADGM: The International Holding Company’s (IHC) recently launched finance and trading holding company Rorix Holdings’ subsidiary, Finstreet, got the green light to launch a single blockchain-powered platform encompassing a digital multilateral trading facility (MTF), central securities depository, and a private financing platform, based in Abu Dhabi’s ADGM, according to an ADX disclosure (pdf).
Rorix? Abu Dhabi’s USD 895 bn IHC set up Rorix Holdings last month, focusing on financial services, trade finance, advisory, commodities, and trade ins.
Finstreet secured eight new licenses for three of its subsidiaries from ADGM’s Financial Services Regulatory Authority (FSRA), paving the way for what it’s touting as the first fully regulated digital trading platform in the ADGM. The platform will allow users to trade both private and public securities. All the licenses are subject to final regulatory approvals.
The details: The platform aims to support trading starting with the origination and issuance of a financial asset, up until trading, settlement and custody.
About Finstreet: Founded in Oxford University’s SBS Finance Lab, Finsteet is an ADGM-based subsidiary of both Rorix Holdings through IHC and Sirius International Holding. The company’s portfolio includes three regulated financial subsidiaries — Finstreet Global Markets, Finstreet Global Clearing and Settlement, and Finstreet Capital.
Who does what? Finstreet Global Markets will serve as an MTF, offering secondary market trading for securities listed on other exchanges; while Finstreet Global Clearing and Settlement will provide digital settlement and depository services; and Finstreet Capital will operate the private financing platform.
The firm has big plans: Finstreet is eyeing expansion into more assets, including commodities, the disclosure reads.
