Monark Markets' MMM Securities Achieves FINRA Approval for Evergreen Funds Custody

Monark Markets' Achievements: A New Era in Evergreen Fund Custody

Monark Markets, Inc., a leading fintech infrastructure provider, has made significant strides in the finance sector with its latest announcement regarding its subsidiary, MMM Securities LLC. On October 15, 2026, the firm shared that it has received the green light from the Financial Industry Regulatory Authority (FINRA) to manage omnibus accounts that hold evergreen fund positions.

This milestone is crucial as it enables MMM Securities to serve as a single omnibus account holder of record for multiple carrying and clearing broker-dealers. These broker-dealers will retain full ownership of their relationships with end clients, marking a new approach in managing evergreen funds, particularly within the wealth management sector. Monark intends to initiate the onboarding process for broker-dealer clients and evergreen funds onto its innovative Omnibus platform in the upcoming fourth quarter.

The Omnibus platform is designed to streamline operations for managing evergreen funds and plays a vital role in reducing the historical operational burdens that have limited access to these investment options. This is especially crucial for firms utilizing model implementation platforms.

Understanding the Omnibus Platform

To better understand how MMM Securities' Omnibus platform functions, let's break down the onboarding process. It begins when a carrying or clearing broker-dealer formalizes an omnibus services agreement with MMM Securities, which includes a thorough due diligence and connectivity review. Following this step, MMM Securities will establish a dedicated omnibus account for that broker-dealer, positioning itself as the official holder of record with each fund's transfer agent. The platform’s controlled arrangements are designed to maintain a secure location for all fund positions.

Once operational, the partner broker-dealer will submit client orders through Monark's platform. MMM Securities will then aggregate the activity within the omnibus account, processing subscriptions, tender and repurchase requests, and distributions according to each fund's published Net Asset Value (NAV). Notably, throughout this entire process, Monark's technology maintains investor-level sub-accounting while providing daily position and cash reconciliation to the partner firm. This setup allows the broker-dealer to manage client statements and suitability assessments while retaining a direct relationship with the end-client.

Quotes from Leadership

Brian M. Fraioli, the Chief Executive Officer of MMM Securities LLC, expressed his enthusiasm for this major advancement in market infrastructure. He stated, "I have spent my career witnessing pivotal moments in market infrastructure, and I believe that omnibus processing for evergreen funds is another significant change. By removing the manual, fund-by-fund processes that have hindered scaling in the past, we are creating operational efficiencies that pave the way for broader access."

Ben Haber, Co-Founder and CEO of Monark Markets, echoed this sentiment, stating, "Evergreen funds have rapidly become the most sought-after product structure within private markets. However, the interconnectedness between evergreen funds and model portfolios has often been lacking due to inadequate infrastructure. The wealth management industry has long needed a standardized omnibus rail akin to what mutual funds enjoy with Fund/SERV®, and this FINRA approval marks a significant move toward establishing that rail."

About Monark Markets

Monark Markets, Inc. operates as a B2B fintech infrastructure company, facilitating access for broker-dealers and wealth platforms to invest in private markets. Through its various subsidiaries, including the recently approved MMM Securities LLC and Monark Capital Management LLC, the company is positioned to drive innovation in the financial sector, particularly in pre-IPO special purpose vehicle (SPV) distribution and the Evergreen Fund Omnibus platform. Monark is based at 44 Wall Street, New York, NY.

In conclusion, the approval of MMM Securities by the FINRA represents an exciting development for the private equity market, showcasing the potential to enhance operational efficiencies and broaden access to evergreen funds. As the financial landscape continues to evolve, Monark Markets remains at the forefront of this transformation, empowered by technology and innovative solutions.