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.”

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<