FinClear, the technology company enabling innovation in Australian financial services, has expanded its API trading business with the addition of ThinkMarkets as a client.
FinClear, whose FinClear Platform hosts, trades, clears and settles securities for banks, fintechs, financial advisers and stockbrokers, has had increasing interest from technology firms over the past year, said CCO Tony Lynch.
“The diversification into this type of business has been a significant source of growth for us,” he said. “Because we own the full clearing technology stack and service chain from the end user to the exchange and through to clearing and settlement, we are able to service fintech companies far more efficiently than anyone else. As a result we’ve had a surge in demand for this part of the business.”
ThinkMarkets CEO, Nauman Anees said the company, which offers a multi-asset, global trading experience, via its proprietary ThinkTrader platform, to retail investors, had partnered with FinClear for the quality of the technology. According to him, “We are pleased with FinClear’s ability to provide wholesale trading access more efficiently than anyone else in the market, to allow us to best serve our clients.”
FinClear delivers API trading via a cloud-based open ecosystem with comprehensive APIs and Developer Hub. Unlike its competitors, all FinClear’s technology is developed, built and maintained in Australia.
“Our systems have always been delivered to our clients via API, but this is the first time we have implemented a direct API for a client,” Lynch said. “It makes much more sense for companies like ThinkMarkets to use a ready-made solution like ours rather than incur the expense and maintenance of building one themselves, and we’re delighted to be supporting the burgeoning of consumer-friendly fintechs in this country.”