February 3, 2020

Illuminate Financial Invests US$4 Million In Baton Systems

Baton Systems, the provider of post-trade solutions for capital markets, has received a $4 million investment from Illuminate Financial Management. This brings Baton’s total funding to $16 million, which includes investors Trinity Ventures, Alsop Louie and Commerce Ventures.

Baton provides a distributed ledger-based post-trade settlement platform to top-tier banks and infrastructure providers, including the major clearing houses. Announced in November last year, J.P. Morgan is using Baton’s service to automate its margining and collateral workflows.

“Baton was created to solve inefficiencies in global payments systems, and we’ve made great progress working through the structural challenges the industry faces,” said Arjun Jayaram CEO and Founder at Baton Systems. “An increasing number of banks and clearing houses are realizing that a fast, standardized, and immutable approach to transferring assets is the only viable path forward.”

“Baton’s speed and accuracy is eliminating many of the problems that legacy systems have burdened the global settlements ecosystem for decades,” said Mark Beeston at Illuminate Financial. “We are excited to play a role in Baton’s journey as the Company modernizes the settlement landscape and scales its business across major financial institutions in Europe and North America.”

Illuminate's portfolio companies include AxeTrading, Baton Systems, ChartIQ, CloudMargin, d1g1t, dv01, enmacc, FeedStock, genesis, Privitar, SteelEye, TickSmith, Tookitaki and TransFICC.


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