June 25th (Sydney): The Australian financial technology company, FinClear, today announced that it will provide trading, execution and clearing services via its API broking platform to low-cost equities broker Stake.
FinClear CEO David Ferrall said the deal was a testament to FinClear’s reputation as a trusted provider to the booming Australian fintech industry.
“We’re delighted that Stake has chosen the FinClear platform,” he said. “Because we’re the only company in our space to own the complete infrastructure highway – from the retail interface through to the exchange and clearing house – we’re able to really streamline the trading process and make it much more efficient than anyone else can.”
Stake CEO Matt Leibowitz said working with FinClear would provide Stake’s almost 300,000 Australian customers with the most efficient trading experience.
“We’re really excited to bring a more seamless and transparent way for investors to access the Australian equities market. Finclear shares our vision for where the local market can go and what is possible when you combine that with technology.”
“FinClear is progressive, innovative, and completely committed to giving their clients the highest quality access to markets. That aligns perfectly with what we do, so it’s an ideal partnership for us.”
FinClear’s API broking platform provides an extensive suite of API services including account establishment, order management, market and company data, and access to CHESS via FinClear’s proprietary technology.
Established in 2015, FinClear offers a range of financial services technology solutions to clients from boutique financial advice practices to Australia’s largest banks. The company counts among its investors Magellan Financial Group and leading VC firm King River Capital.