Drivewealth Llc, the API-driven global brokerage firm registered with the U.S. Security and Exchange Commission on Thursday announced it has entered into an agreement to acquire Cuttone & Company, a globally-respected New York-based institutional broker-dealer.
In a statement, Drivewealth noted that retail investors across the globe who trade fractional shares of U.S. equities via its partners will now be provided direct market access for NYSE securities with the same sophisticated trade execution technology that had previously only been accessible to institutional investors.
Founded in 1984, Cuttone & Company is a leading provider of advanced institutional trading technology and execution services. Cuttone & Company will now be the Institutional Division of DriveWealth Holdings.
DriveWealth said in a statement that they will now be able to offer its partners ‘unique access to price discovery on its highly scalable, configurable and redundant electronic trading infrastructure.’
“Having notional trading technology connected to a flexible brokerage infrastructure allows investors to start small by investing in brands they know and care about. We’re proud to bring this new combination of Cuttone & Company’s institutional knowledge with our retail trading technology to become the most complete brokerage stack available to retail investors today.” noted Bob Cortright, founder and CEO of DriveWealth.