DriveWealth deploys new multi asset class OMS built by Adaptive

Rick Steves

“DriveWealth had a remit to deliver a customized trading solution at a time of great change for retail equity trading.”

DriveWealth, the renowned fintech investment rail and pioneer in fractional investing, is celebrating the implementation of a new ultra-low latency proprietary trading system delivered by Adaptive Financial Consulting.

The fintech giant ordered the new trading system from Adaptive in order to address the increased demand in its retail brokerage business and respond to requests from a growing number of fintechs who are looking to add U.S. equity markets trading capabilities.

Already parntered with more than 100 brokers across the globe, DriveWealth isn’t backing down any time soon as it continues to serve millions of traders using the firm’s software through third party retail platforms.

End users have more than doubled in the past year to over 12 million, DriveWealth reported.

DriveWealth’s new OMS will hande US fractional shares and other asset classes

Built using Adaptive’s Aeron Solution Accelerators in close coordination with DriveWealth’s core trading team, the new order management system (OMS) handles significant order volumes and will be inittially supporting all internalized orders for U.S. equities fractional trading, with other asset classes to follow.

The Adaptive-DriveWealth partnership has resulted in a well functioning and ultra-low latency OMS built on top of the open source Aeron Transport and Aeron Cluster solutions, said the announcement.

Proprietary low-latency trading system is vital for new era of retail investors and greater volatility

Harshal Deo, Chief Technology Officer at DriveWealth, said: “Our promise to our global fintech partners has always been that we will provide them with the best trading technology to access the U.S. markets. As demand from retail trading continues to grow, we looked for technology partners who could not only help us build capacity to scale but also innovate by combining the best proprietary technology with the best available vendor solutions to help us continue to support the exceptional growth in demand of our platform. Adaptive and Aeron proved the perfect choice.”

Donato Cuttone, CEO of DriveWealth Institutional, commented: “As retail participation surges and markets enter a new era of greater volatility, having a powerful technology offering that enables us to handle significant volumes at speed is vital. Developing a proprietary low-latency trading system with Adaptive not only differentiates DriveWealth from competitors, but gives us the ability to scale and perform reliably in a rapidly changing market. Working directly with Adaptive’s expert team allowed us to achieve this – delivering a next generation solution that perfectly suits our partners’ needs and future proofs our business in the long-term.”

Fergus Keenan, Chief Strategy Officer at Adaptive Financial Consulting, added: “DriveWealth had a remit to deliver a customized trading solution at a time of great change for retail equity trading. Through this partnership, our experience in trading technology and Aeron Solution Accelerators were combined with DriveWealth’s desire to innovate and push the boundaries. The result is a truly state-of-the-art customized OMS. Adaptive is excited to continue working with the team at DriveWealth to evolve this solution and deliver new workflows using Aeron at the core.”

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