CHATHAM, N.J.–(Small business WIRE)–Jan 14, 2021–
DriveWealth, a leading world wide brokerage infrastructure system, now introduced the acquisition of Cuttone & Firm, a globally-revered New York-based mostly institutional broker dealer, as a result bringing its revolutionary technological know-how to the floor of the New York Stock Trade (NYSE). With this acquisition, retail traders all over the world who trade fractional shares of U.S. equities by way of DriveWealth’s companions are provided direct entry to the place of sale for NYSE securities with the very same refined trade execution engineering that experienced beforehand only been accessible to institutional traders.
Cuttone & Company, now the Institutional Division of DriveWealth Holdings, Inc. will convey marketplace and regulatory know-how, a network of institutional buying and selling companions, and other sources to DriveWealth’s companions. DriveWealth will now be ready to offer you its companions distinctive obtain to price tag discovery on its really scalable, configurable and redundant electronic trading infrastructure. The gain out there on the buying and selling ground not only provides immediate accessibility to the issue of sale but affords the exact time and put advantage for entry to regulatory and jurisdictional facts which could have an affect on current market situations or cause trading halts.
“These extra means, unparalleled transparency, and the potential to trade directly on the NYSE or throughout all U.S. equity locations will open up increased alternatives for the retail buyers we serve on our system,” said Bob Cortright, founder and CEO of DriveWealth. “Having notional trading engineering linked to a flexible brokerage infrastructure makes it possible for investors to begin small by investing in models they know and treatment about. We’re happy to deliver this new mixture of Cuttone & Company’s institutional knowledge with our retail trading engineering to turn out to be the most total brokerage stack obtainable to retail traders nowadays.”
“Since 1984, Cuttone & Organization has attracted and served hundreds of institutional buyers with superior-high quality execution remedies. We’re excited to bring that exact institutional stage of service to retail all-around the environment, shepherding ‘Main Street’ buyers by Wall Road,” reported Donato J. Cuttone, CEO of Cuttone & Organization and a member of the Board of Directors of NYSE Countrywide, Inc. “We know from expertise that technological innovation alone can’t substitute the experience and intuition of market place specialists on the flooring of the New York Inventory Trade. Becoming a member of DriveWealth enables us to utilize our abilities and expand our dedication to current market fairness and transparency for thousands and thousands of retail traders around the environment.”
“We’re happy to welcome DriveWealth to the NYSE Trading Ground group. With a ground existence, DriveWealth can prolong the advantages of the NYSE’s unique market model to its purchasers all-around the globe, which includes participation in the world’s major liquidity event, the NYSE Closing Auction,” stated NYSE Team Chief Working Officer Michael Blaugrund.
Subsequent the acquisition, Cuttone & Firm will function as a subsidiary of DriveWealth Holdings, Inc., a FINRA registered broker supplier. Donato J. Cuttone has joined DriveWealth’s Board of Administrators and will carry on to direct the crew as the CEO of DriveWealth’s Institutional Division.
DriveWealth is an API-driven global brokerage infrastructure platform powering equally conventional and modern financial investment experiences for far more than 50 partners in over 150 nations around the world. DriveWealth’s mission is to reshape the world of retail investing by enabling financial institutions, world wide makes, and Fintechs to present financial commitment entry and tips to underbanked and underserved consumers that was previously only available to the wealthy. For additional info, remember to stop by drivewealth.com.
About Cuttone & Enterprise
Established in 1984, Cuttone & Organization is a New York-dependent full-services institutional broker combining condition-of-the-artwork engineering and remarkably knowledgeable industry experts to supply a full vary of execution and key brokerage remedies. Cuttone & Corporation is a leading service provider of arbitrage, company action, specific condition, and block trade execution for institutional asset supervisors and broker-sellers. Over the previous ten years, the firm has expanded its New York Stock Trade flooring business to include institutional immediate marketplace accessibility, bespoke algorithmic options, entry to unique buy varieties, and principal action. In addition, we continue on to assist a total suite of key brokerage expert services. Member NYSE, FINRA and SIPC. For additional information, you should go to www.cuttoneandcompany.com.
Look at source variation on businesswire.com:https://www.businesswire.com/news/residence/20210114005167/en/
Call: Media Call: DriveWealth and Cuttone & Firm
Search phrase: NEW JERSEY UNITED STATES NORTH The us
Field Search term: Professional Services Knowledge Administration Know-how FINANCE Computer software BANKING
Copyright Business enterprise Wire 2021.
PUB: 01/14/2021 07:00 AM/DISC: 01/14/2021 07:01 AM