Proof is a new institutional equities broker. Launching in 2020.

Our story

Finance is a bloated industry. It is opaque and old-fashioned, and it has not substantially improved through the technological revolution in the way other industries have, in part because there are tremendous barriers to entry for new innovative players.

Proof is taking a crack at changing finance for the better by starting with what we know: U.S. institutional equities trading. We are building a nimble, transparent, highly effective equities execution platform and hope to go live in 2020.

The U.S. stock market, like many other areas with finance, is chock full of conflicts of interest. The players are powerful, protectionist, and profit-driven, and they collect huge amounts of money year after year. Our previous company, IEX, has done a wonderful job exposing many of the worst aspects of the stock market and offering an alternative model for a stock exchange: one that is fair and transparent. Our hope is to continue fighting the good fight, this time by focusing more specifically on questionable practices at the broker-dealer layer of the system, and again developing a better, fairer approach.

And we don't plan to stop there. U.S. equity trading is our foothold, but we aspire to shine a light on other issues in the industry as well. Proof is not about introducing revolutionary changes that will make the existing finance system obsolete in one fell swoop; we are simply trying to tackle specific problems one-by-one from the inside.

The team

Allison Bishop

Allison Bishop


Allison is a leading expert in cryptography and distributed computing. Prior to co-founding Proof, she was an Assistant Professor in Computer Science at Columbia University, specializing in design of cryptographic systems. Additionally, she spent the last three years as a Quantitative Researcher at IEX, where she oversaw model development. Her other past employers include the Department of Defense and Microsoft Research. Allison earned a B.A. in Mathematics from Princeton, a Masters in Mathematics from the University of Cambridge, and a PhD in Computer Science from the University of Texas at Austin. She was named a Marshall Scholar in 2006, was featured as a Forbes 30 Under 30 in Science in 2014, and won an NSF Career Award in 2016.

Daniel Aisen

Daniel Aisen


Daniel was previously a co-founder and the Head of Quantitative Strategy at IEX, where he spent the past 7 years. Prior to that, he was on the U.S. equity algorithmic trading team at RBC for 3 years. In both of these roles, Daniel played a key role in the idea origination and development behind several flagship trading products including IEX's Discretionary Peg, Signal and Router, as well as RBC's THOR and Eclipse. Daniel has a B.S. in Mathematical and Computational Science from Stanford, and he was named to Forbes 30 Under 30 list in Finance in 2015. He was featured in Michael Lewis's 2014 book Flash Boys.


We are tracking our progress toward our launch by two dimensions: the team's current collective knowledge base and the amount of tangible work completed. In the spirit of full transparency, you can find a summary below of where we believe we stand and where we're currently focusing. We will also post regular updates to our blog.

AreaCapabilityProgressNext steps
Tech★★0%Hire CTO, begin prototyping
Regulatory5%Obtain licenses, B/D application
Product★★★★5%Design key features
Sales0%Consult with network
Operations5%Business plan, corporate structure


Get in touch with us.