With the restrictions on South Africans taking money offshore easing, the head of platform proposition and marketing sees platforms providing an important offering to locals looking to invest overseas.
Vlad Tenev, co-CEO of the trade-for-free investment app Robinhood, said at CB Insight’s Future of Fintech conference that he doesn’t view discount brokerages like Schwab or Fidelity a threat.
The Altegris family of private and public alternative funds retains the Altegris name, as previously announced, and will operate as the asset management division of Artivest.
The firm completed its technology upgrade of Cofunds’ advised customers on the first weekend of May, moving more than 400,000 clients to the new platform.
Sources said Macquarie Capital, the banking arm of Nuix's 70 per cent shareholder Macquarie Group, was expected to secure a joint lead manager mandate with at least one other role up for grabs.
Mike Madigan, CTO, WH Trading LLC, said, “We look to only deploy technology excellence and believe that trading performance can be mapped to the quality of trading infrastructures in place."
The fully integrated solution also provides real-time updates of intra-day transaction status changes throughout the lifecycle of the settlement, along with straight-through-processing enabled communication with global and local custodians.