DriveWealth LLC, a pioneer in fractional investing, has implemented a new ultra-low latency proprietary trading system developed by trading technology specialist Adaptive Financial Consulting.
DriveWealth currently provides trading capabilities to over 100 partners globally, with more than 12 million end users accessing the company’s software through third party retail platforms, according to the company.
The new system, designed to accommodate significant order volumes to support DriveWealth’s ambitious growth plans, will initially be used for all internalized orders for U.S. equities fractional trading, with other asset classes to follow.
Adaptive and DriveWealth’s core trading team worked closely together to deliver a solution that could meet DriveWealth’s demanding throughput targets and need for ultra-low latency. Adaptive’s approach provided the development acceleration, building on top of the open source Aeron Transport and Aeron Cluster solutions. Earlier this year, Adaptive acquired Real Logic, creators of Aeron.
“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,” said Harshal Deo, CTO of DriveWealth. “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 added: “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, Adaptive Financial Consulting, commented: “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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