Enhancing Institutional Connectivity Through Technology
In a groundbreaking development, DriveWealth, a prominent firm in financial technology, is proud to announce its latest advancement in the realm of integrated systems for institutional broker-dealers. With a focus on enhancing operational efficiency, DriveWealth is redefining the way broker-dealers connect and operate. This innovation comes as part of a broader strategy to elevate global reach and maximize trading performance.
A Seamless Integration Experience
DriveWealth has successfully implemented a complete integration with several execution management system (EMS) platforms. This includes esteemed names such as Bloomberg EMSX, LSEG Autex, and TRAFiX. These integrations are designed to facilitate seamless connections, enabling institutional broker-dealers to take full advantage of DriveWealth's advanced platform capabilities. With streamlined trade booking processes and reduced integration times, broker-dealers can now enhance their operational fluency.
Addressing the Needs of Modern Broker-Dealers
According to Aaron Sokasian, the Chief Technology Officer at DriveWealth, the primary goal is to simplify the connection process for institutional broker-dealers. "Our technology stack is designed to be plug-and-play, so firms can adopt it without overhauling their existing infrastructures," explains Sokasian. This approach significantly enhances execution quality and trading capabilities, allowing clients to operate on familiar platforms.
Powering Trading Capabilities
The newly established partnerships with EMS providers enable a plethora of features, including innovative fractional trading, auction orders, and algorithmic orders. Additionally, broker-dealers can now experience around-the-clock trading access. DriveWealth is also working closely with telecommunications providers like TNS, BT Group, and Pico to ensure that partners have reliable and low-latency connections to its infrastructure, which is primarily hosted in secured facilities.
Rapid Adoption and Reduced Setup Times
In recent months, DriveWealth has witnessed an influx of interest from broker-dealers, particularly within international markets. Notably, nearly 10 firms in the Korean market have commenced integration, showcasing a remarkable reduction in onboarding time—from the industry standard of 90 days to just 30 days. This 67% decrease underscores DriveWealth's dedication to providing hassle-free trading solutions.
Client Testimonials Highlight Integration Success
Feedback from partnering firms has been overwhelmingly positive. Yongsuk Jun, Chief Technology Officer at NH Investment & Securities, highlighted the smooth integration process with DriveWealth’s platform. He noted the enhancements in trading efficiency and the increased capabilities that benefit institutional investors.
A Robust Trading Solution
Founded in 2012, DriveWealth has cemented its position as a leader in the financial services sector. It offers a range of services tailored to both established corporations and emergent digital-native businesses looking to enable compliant trading for their clientele. With cutting-edge features such as fractional trading and a comprehensive Brokerage-as-a-Service API, DriveWealth empowers its partners with the tools necessary to innovate in today’s fast-paced trading environment.
About DriveWealth
DriveWealth operates as a global B2B financial technology platform, focusing on Brokerage-as-a-Service solutions that enrich the investing experiences across digital wallets, broker-dealers, and asset management firms. Its APIs afford partners flexibility and creativity, enabling the development of both conventional investment workflows and modern innovations, such as rounding up purchases into fractional share ownership.
Frequently Asked Questions
What is DriveWealth's main service offering?
DriveWealth offers a Brokerage-as-a-Service platform that allows companies to provide trading solutions efficiently and compliantly.
Who are DriveWealth's EMS partners?
DriveWealth partners with platforms like Bloomberg EMSX, LSEG Autex, and TRAFiX to provide connectivity for institutional trading.
How long does it take for a broker-dealer to integrate with DriveWealth?
DriveWealth has successfully reduced its integration period to just 30 days, significantly faster than the traditional 90-day timeline.
What unique trading features does DriveWealth provide?
DriveWealth offers features like fractional trading, auction orders, algorithmic orders, and 24-hour trading capabilities.
How does DriveWealth ensure efficient connectivity?
DriveWealth collaborates with telecommunications providers to guarantee low-latency and reliable connectivity to its platform.
