DriveWealth’s fintech and economic institution companions all-around the entire world can now give institutional-good quality obtain to U.S. equities for their clients
DriveWealth, a major world-wide brokerage infrastructure system, currently declared the acquisition of Cuttone & Business, a globally-highly regarded New York-based institutional broker vendor, thus bringing its groundbreaking technological innovation to the flooring of the New York Stock Exchange (NYSE). With this acquisition, retail traders all around the world who trade fractional shares of U.S. equities through DriveWealth’s associates are delivered direct entry to the place of sale for NYSE securities with the exact same sophisticated trade execution engineering that had formerly only been obtainable to institutional investors.
Cuttone & Organization, now the Institutional Division of DriveWealth Holdings, Inc. will bring marketplace and regulatory know-how, a community of institutional trading associates, and other means to DriveWealth’s partners. DriveWealth will now be equipped to provide its companions exceptional access to value discovery on its very scalable, configurable and redundant digital trading infrastructure. The benefit available on the trading flooring not only supplies immediate accessibility to the issue of sale but affords the similar time and put gain for accessibility to regulatory and jurisdictional info which could impact marketplace situations or induce buying and selling halts.
“These additional methods, unprecedented transparency, and the capacity to trade straight on the NYSE or throughout all U.S. fairness places will open up up higher opportunities for the retail buyers we provide on our platform,” reported Bob Cortright, founder and CEO of DriveWealth. “Possessing notional buying and selling engineering related to a flexible brokerage infrastructure lets buyers to commence tiny by investing in brands they know and treatment about. We’re happy to bring this new blend of Cuttone & Company’s institutional awareness with our retail buying and selling engineering to come to be the most full brokerage stack out there to retail buyers currently.”
“Because 1984, Cuttone & Corporation has attracted and served 1000’s of institutional traders with superior-high-quality execution alternatives. We’re enthusiastic to bring that same institutional stage of service to retail close to the world, shepherding ‘Main Street’ traders as a result of Wall Avenue,” said Donato J. Cuttone, CEO of Cuttone & Corporation and a member of the Board of Administrators of NYSE National, Inc. “We know from experience that technological innovation by itself cannot replace the abilities and intuition of market industry experts on the ground of the New York Inventory Trade. Becoming a member of DriveWealth lets us to implement our know-how and develop our commitment to marketplace fairness and transparency for millions of retail investors close to the planet.”
“We’re delighted to welcome DriveWealth to the NYSE Buying and selling Floor local community. With a flooring presence, DriveWealth can extend the positive aspects of the NYSE’s exclusive market place product to its shoppers close to the world, such as participation in the world’s largest liquidity celebration, the NYSE Closing Auction,” explained NYSE Group Chief Operating Officer Michael Blaugrund.
Following the acquisition, Cuttone & Enterprise will work as a subsidiary of DriveWealth Holdings, Inc., a FINRA registered broker vendor. Donato J. Cuttone has joined DriveWealth’s Board of Directors and will go on to lead the workforce as the CEO of DriveWealth’s Institutional Division.
DriveWealth is an API-driven international brokerage infrastructure platform powering each standard and innovative financial commitment encounters for additional than 50 partners in about 150 countries. DriveWealth’s mission is to reshape the world of retail investing by enabling banks, world-wide models, and Fintechs to present investment access and information to underbanked and underserved prospects that was earlier only obtainable to the rich. For additional information, be sure to take a look at drivewealth.com.
About Cuttone & Organization
Established in 1984, Cuttone & Firm is a New York-based complete-assistance institutional broker combining condition-of-the-art technologies and really professional industry experts to produce a entire variety of execution and key brokerage methods. Cuttone & Enterprise is a leading service provider of arbitrage, company motion, exclusive circumstance, and block trade execution for institutional asset supervisors and broker-sellers. Over the very last ten years, the agency has expanded its New York Inventory Trade ground business enterprise to involve institutional immediate industry entry, bespoke algorithmic methods, access to special order forms, and principal activity. In addition, we proceed to help a entire suite of primary brokerage expert services. Member NYSE, FINRA and SIPC. For extra information and facts, remember to take a look at www.cuttoneandcompany.com.
See supply variation on businesswire.com: https://www.businesswire.com/information/residence/20210114005167/en/
Media Speak to: DriveWealth and Cuttone & Corporation