Chatham, N.J., April 1, 2021 — DriveWealth, a leading global brokerage infrastructure platform, today announced the appointment of Jay Woods, Executive Floor Governor at the New York Stock Exchange (NYSE), to DriveWealth Institutional (formerly Cuttone & Company).
Woods will join as a proprietary trader on the firm’s trading desk, in addition to providing market insights and education to our partners.
Woods joins DriveWealth with more than 25 years of experience on the floor of the NYSE. Most recently, he was a designated market maker (DMM) for IMC, an electronic market maker. At IMC, he served as an Executive Floor Governor at the NYSE, the highest distinction given to an NYSE member and a role held by only six members. Previously, Woods was a Vice-President at Goldman Sachs representing their DMM operation on the NYSE floor. He is a Chartered Market Technician and is the co-President of the NY chapter of the Chartered Market Technician Association.
“Jay’s experience as a longtime leader on the floor of the NYSE will give our team that much more firepower, and I look forward to working alongside him on our mission to democratize investing,” said Bob Cortright, founder and CEO of DriveWealth.
Donato J. Cuttone, CEO of DriveWealth Institutional, said “Jay’s knowledge of market structure, liquidity, and risk management, coupled with his real time transactional ‘point of sale’ experience will bring a unique advantage to our team and to our partners.”
“DriveWealth combines all my passions — my love of the NYSE, trading, and promoting financial literacy and technology,” said Woods. “I’m excited to work with some of the best NYSE floor brokers at DriveWealth Institutional and play a key role in the trading platform.”
A pioneer in fractional investing and embedded finance, DriveWealth has built an API-driven, cloud-based brokerage platform that is transforming the investment landscape by democratizing access to U.S. equities for investors domestically as well as abroad. With more than 90 partners in over 150 countries around the world, DriveWealth’s mission is to reshape retail investing by enabling both financial services providers and global brands to provide investment access and advice to underbanked and underserved customers that was previously only available to the wealthy. For more information, please visit drivewealth.com.