CHATHAM, N.J.–(Business WIRE)–Jan 14, 2021–
DriveWealth, a primary world-wide brokerage infrastructure platform, right now announced the acquisition of Cuttone & Company, a globally-revered New York-based institutional broker dealer, so bringing its pioneering engineering to the ground of the New York Inventory Exchange (NYSE). With this acquisition, retail buyers all around the entire world who trade fractional shares of U.S. equities by using DriveWealth’s companions are furnished direct entry to the point of sale for NYSE securities with the exact subtle trade execution technological innovation that had earlier only been obtainable to institutional buyers.
Cuttone & Organization, now the Institutional Division of DriveWealth Holdings, Inc. will provide market place and regulatory expertise, a community of institutional buying and selling companions, and other means to DriveWealth’s companions. DriveWealth will now be ready to supply its associates unique obtain to cost discovery on its highly scalable, configurable and redundant digital trading infrastructure. The gain offered on the buying and selling flooring not only supplies direct obtain to the stage of sale but affords the same time and spot gain for entry to regulatory and jurisdictional information and facts which could influence industry disorders or trigger trading halts.
“These additional sources, unprecedented transparency, and the means to trade directly on the NYSE or throughout all U.S. fairness places will open up greater possibilities for the retail buyers we serve on our system,” mentioned Bob Cortright, founder and CEO of DriveWealth. “Having notional investing technologies connected to a versatile brokerage infrastructure makes it possible for traders to start off smaller by investing in models they know and treatment about. We’re proud to bring this new blend of Cuttone & Company’s institutional knowledge with our retail investing technologies to come to be the most comprehensive brokerage stack readily available to retail investors nowadays.”
“Since 1984, Cuttone & Organization has attracted and served countless numbers of institutional investors with high-quality execution remedies. We’re psyched to provide that same institutional stage of provider to retail all over the world, shepherding ‘Main Street’ buyers by way of Wall Street,” said Donato J. Cuttone, CEO of Cuttone & Enterprise and a member of the Board of Administrators of NYSE Nationwide, Inc. “We know from working experience that technological know-how alone just cannot exchange the experience and instinct of current market pros on the floor of the New York Inventory Trade. Becoming a member of DriveWealth permits us to apply our experience and broaden our dedication to market place fairness and transparency for hundreds of thousands of retail investors around the environment.”
“We’re happy to welcome DriveWealth to the NYSE Trading Flooring community. With a ground presence, DriveWealth can increase the benefits of the NYSE’s special marketplace product to its purchasers around the globe, such as participation in the world’s largest liquidity occasion, the NYSE Closing Auction,” explained NYSE Team Main Operating Officer Michael Blaugrund.
Following the acquisition, Cuttone & Corporation 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 go on to lead the crew as the CEO of DriveWealth’s Institutional Division.
DriveWealth is an API-pushed world brokerage infrastructure platform powering both equally traditional and revolutionary financial investment ordeals for additional than 50 companions in about 150 nations around the world. DriveWealth’s mission is to reshape the environment of retail investing by enabling banking companies, world models, and Fintechs to give expenditure access and advice to underbanked and underserved clients that was previously only readily available to the rich. For more data, please visit drivewealth.com.
About Cuttone & Corporation
Founded in 1984, Cuttone & Corporation is a New York-primarily based complete-service institutional broker combining point out-of-the-artwork technology and really seasoned industry experts to produce a total selection of execution and prime brokerage remedies. Cuttone & Organization is a leading company of arbitrage, company motion, distinctive predicament, and block trade execution for institutional asset managers and broker-sellers. More than the very last ten years, the business has expanded its New York Inventory Exchange ground company to contain institutional direct current market access, bespoke algorithmic alternatives, access to exceptional order varieties, and principal action. In addition, we carry on to help a whole suite of key brokerage companies. Member NYSE, FINRA and SIPC. For more information and facts, please stop by www.cuttoneandcompany.com.
View source variation on businesswire.com:https://www.businesswire.com/information/house/20210114005167/en/
Contact: Media Call: DriveWealth and Cuttone & Enterprise
Key phrase: NEW JERSEY UNITED STATES NORTH The united states
Field Key word: Professional Products and services Data Administration Engineering FINANCE Computer software BANKING
Copyright Company Wire 2021.
PUB: 01/14/2021 07:00 AM/DISC: 01/14/2021 07:01 AM