CHATHAM, N.J.–(Small business WIRE)–DriveWealth, a major world wide brokerage infrastructure platform, now introduced the acquisition of Cuttone & Corporation, a globally-respected New York-based mostly institutional broker supplier, as a result bringing its revolutionary technological know-how to the flooring of the New York Inventory Exchange (NYSE). With this acquisition, retail traders all over the planet who trade fractional shares of U.S. equities through DriveWealth’s associates are delivered direct accessibility to the point of sale for NYSE securities with the very same sophisticated trade execution engineering that had earlier only been obtainable to institutional buyers.
Cuttone & Corporation, now the Institutional Division of DriveWealth Holdings, Inc. will convey industry and regulatory abilities, a community of institutional investing associates, and other methods to DriveWealth’s associates. DriveWealth will now be equipped to supply its partners unique accessibility to rate discovery on its hugely scalable, configurable and redundant electronic buying and selling infrastructure. The edge accessible on the buying and selling floor not only delivers direct entry to the point of sale but affords the same time and place benefit for accessibility to regulatory and jurisdictional information and facts which could influence industry ailments or bring about trading halts.
“These added assets, unparalleled transparency, and the capability to trade right on the NYSE or across all U.S. fairness places will open up better prospects for the retail investors we provide on our platform,” reported Bob Cortright, founder and CEO of DriveWealth. “Having notional investing technologies linked to a flexible brokerage infrastructure enables traders to start off tiny by investing in brands they know and treatment about. We’re proud to convey this new combination of Cuttone & Company’s institutional know-how with our retail trading technology to develop into the most entire brokerage stack readily available to retail buyers nowadays.”
“Since 1984, Cuttone & Corporation has captivated and served 1000’s of institutional investors with significant-top quality execution options. We’re excited to provide that exact same institutional degree of service to retail around the planet, shepherding ‘Main Street’ buyers by way of Wall Street,” said Donato J. Cuttone, CEO of Cuttone & Company and a member of the Board of Directors of NYSE Countrywide, Inc. “We know from working experience that technologies by yourself cannot change the skills and instinct of current market specialists on the flooring of the New York Inventory Trade. Joining DriveWealth makes it possible for us to implement our know-how and increase our dedication to sector fairness and transparency for millions of retail investors all over the world.”
“We’re pleased to welcome DriveWealth to the NYSE Trading Flooring community. With a ground existence, DriveWealth can extend the gains of the NYSE’s exceptional sector model to its shoppers all over the planet, such as participation in the world’s major liquidity celebration, the NYSE Closing Auction,” stated NYSE Team Chief Working Officer Michael Blaugrund.
Following the acquisition, Cuttone & Organization will function as a subsidiary of DriveWealth Holdings, Inc., a FINRA registered broker seller. Donato J. Cuttone has joined DriveWealth’s Board of Administrators and will continue to direct the crew as the CEO of DriveWealth’s Institutional Division.
DriveWealth is an API-pushed world-wide brokerage infrastructure platform powering both of those traditional and impressive investment experiences for much more than 50 associates in above 150 countries. DriveWealth’s mission is to reshape the world of retail investing by enabling banking companies, worldwide manufacturers, and Fintechs to offer investment decision obtain and information to underbanked and underserved consumers that was formerly only out there to the rich. For additional details, remember to visit drivewealth.com.
About Cuttone & Company
Founded in 1984, Cuttone & Business is a New York-primarily based whole-assistance institutional broker combining condition-of-the-artwork technological innovation and extremely professional gurus to supply a comprehensive assortment of execution and prime brokerage solutions. Cuttone & Organization is a premier company of arbitrage, corporate motion, unique circumstance, and block trade execution for institutional asset supervisors and broker-sellers. Over the very last decade, the company has expanded its New York Stock Trade floor enterprise to include institutional immediate marketplace obtain, bespoke algorithmic alternatives, access to exclusive order kinds, and principal action. In addition, we carry on to aid a full suite of prime brokerage services. Member NYSE, FINRA and SIPC. For extra data, please take a look at www.cuttoneandcompany.com.