South Street Securities Holdings, Inc. (“SSSHI”) is partnering with Digital Prime Technologies (“Digital Prime”), an innovative provider of turnkey, prime brokerage solutions for financial institutions.
Digital Prime’s platform for digital assets provides traditional securities-based prime brokers a technology solution to offer their clients the ability to execute, leverage, and finance digital asset trading strategies in one platform. This will allow SSSHI to expand into the digital asset trading and lending space efficiently with institutional clients.
James Tabacchi, President and Chief Executive Officer of SSSHI, said, “South Street has always been focused on financial technology via our affiliate Matrix Applications. South Street operates multiple complementary businesses in the fixed income, mortgage, equity, asset management, and banking sectors. A partnership with Digital Prime expands our FinTech footprint and provides growth opportunities for our finance and trading businesses in a new asset class. This will add further diversification to our portfolio of complementary businesses.”
“We are excited to partner with the Digital Prime management team and appreciate their vision on how existing prime brokers can efficiently onboard clients with minimal friction,” commented Anthony Venditti, Managing Director and Head of Equity Finance.
Digital Prime was founded in 2019 by James A. Runnels, an industry veteran in the prime brokerage space. He commented on the partnership with South Street, “The investment by South Street alongside other institutional investors is a testament to our progress to date. The investment funds will be used to expand our platform and further accelerate our customized product delivery. We look forward to a mutually beneficial partnership.”
David P. Luci, Chairman of Digital Prime, added, “As we continue to roll out our first-in-class software solution for digital prime brokerage, we look forward to adding more traditional Wall Street firms to our stable of investors and clients which now includes Cowen Digital and South Street.”
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