We are proud to announce that Adaptive has been named a Winner at the American Financial Technology Award 2022, sponsored by Waters Technology, for Best Collaboration/Alliance Initiative, in recognition of the work we carried out for DriveWealth, a global fintech investment rail and pioneer in fractional equities trading.
The project came to us in 2021, when DriveWealth set out to continue to execute on its vision of providing retail investors with the ability to trade fractional shares from digital wallets with institutional grade services and direct access to the NYSE. They recognized the need for a new trading system and asked us to build a next generation trading platform providing high-throughput, low-latency order management with a high-availability and resilient cluster. The work involved replatforming DriveWealth’s proprietary trading OMS by leveraging Adaptive’s Aeron Solution Accelerators to achieve throughput and latency goals.
The aim of the new trading system is to support DriveWealth in addressing the increased demand in its retail brokerage business and assisting its fintech partners looking to add U.S. equity markets trading capabilities. As retail trade volumes continue to grow at DriveWealth, the Aeron Accelerator Solutions platform will support this via bespoke clustering and sharding technology advances.
The first phase of the project was successfully carried out and completed in Q1 2022. Our partnership with DriveWealth continues, with the next step being the completion of the development of their institutional order management system.
Matt Barrett, CEO and co-founder of Adaptive, said:
“We would like to thank Waters Technology for this award and DriveWealth for entrusting us with their project. We are very grateful to receive this recognition, which would not have been possible without our people, a team of experts who have been instrumental in helping us deliver the best solutions for our clients. Thank you everyone for your hard work!”
Donato Cuttone, CEO of DriveWealth Institutional, said:
“We are delighted to see Adaptive win this award as a result of our partnership – it’s very well deserved! Their work on our proprietary low-latency trading system has not only helped us to differentiate ourselves from competitors, but has also given us the ability to scale and perform reliably in a rapidly changing market. Winning this award is a great recognition of their expertise and collaborative team – it’s been a pleasure working with them and we look forward to the next phase of our partnership.”
We partner with capital, commodity, and digital market participants that value differentiation through technology. Our experienced teams design and deliver complex front-office solutions, using our proven accelerators, to create long-term competitive advantage. Adaptive’s clients include the world’s leading investment banks, commodities businesses, fintech and market service providers. With a global reach with offices in London, New York, Barcelona and Montreal, Adaptive has a proven track record delivering powerful, elegant and intuitive trading platforms using the latest technology and techniques.