DriveWealth is pleased to share that we recently rang the closing bell on the New York Stock Exchange to celebrate our acquisition of Cuttone & Company, a full service broker dealer with significant experience operating at the point of sale on the floor of the NYSE, to form our new division, DriveWealth Institutional. The ringing of the bell represented the joining of two companies who share one mission – democratizing investing opportunities for retail investors worldwide. DriveWealth Institutional helps level the playing field for retail investors everywhere by offering institutional grade execution, pricing and expertise.
Our acquisition of Cuttone and Co., completed in December 2020, not only enabled retail investors worldwide who trade fractional shares of U.S. equities via our partners flexibility in the routing and execution of order flow that had previously only been accessible to institutional investors, but also enables our partners to access custom algorithmic trading strategies, prime brokerage, options execution, and fixed income trading, as well as unique order types that are only available to floor brokers on the NYSE. Partners can also benefit from the expertise of securities industry veterans with experience in event-driven, risk arbitrage, pair trading, and corporate action trading. Cuttone and Co. has a long history on the NYSE, and we’re proud to work with their team. According to Cuttone and Co.’s CEO Donato Cuttone, now CEO of DriveWeath Institutional, “For over 50 years, my family has worked on the stock exchange floor to attract and serve thousands of institutional investors with high-quality execution solutions. It is an honor and a privilege to join the DriveWealth team to continue to leverage our expertise to help retail investors make informed decisions through accessible and innovative technology.