FINCLEAR PARTNERS WITH WEBULL
FinClear has won a mandate to provide third-party clearing and trade support services to a global trading platform that recently hit Australian shores.
Webull, which has soft launched in Australia, is a market participant of the ASX and Cboe Australia. It is due to go live by the end of the June quarter.
FinClear will provide clearing services for Webull customers trading in Australian-listed securities. It joins the likes of Ord Minnett, Crestone Wealth Management, Superhero, Stake and Velocity Trade, which have partnered with FinClear in recent years.
With about 35 million app users globally, the trading platform plans to offer Australian equities to its global client base in an easy and cost-effective way, Webull Australia chief executive Rob Talevski said.
FinClear chief executive David Ferrall said not only is this another fantastic partnership for FinClear, the significance of Webull planning to provide Australian listed securities in the future to international retail investors cannot be underestimated.
“It will attract a whole new community of investors to the Australian market, with considerable benefits for listed companies, including increased international visibility and liquidity,” he said.
Talevski was appointed to lead Webull in November 2021 after spending over 14 years at AUSIEX as a director of trade execution services.
“FinClear was the obvious partner for us as a global fintech. Its tech stack is best-in-class and capable of managing the volumes and complexities of a global trading platform as we look to provide Aussie investors with global investment opportunities and expand the product suite to more sophisticated offerings at low cost,” Talevski said.
Webull offers its brokerage services to those in the US, Singapore, Australia, South Africa, and Japan.