Verticlear has opened its doors in North America to provide superior solutions for broker-dealers who are struggling with restrictive and costly data and account management products.
The company's initial products will include cross-market trade compression, accounts online management and a level one trading platform.
"Small and mid-sized brokerage firms don't get enough attention and consideration from the vendors providing data and account management tools to the Canadian marketplace," said Mo Hirani, president, Verticlear. "We believe these small and mid-sized firms are going to be the real drivers of growth and innovators in the marketplace. To that end, our solutions are broker-centric, highly customizable and unique, including a cross-market trade compression tool - the first in North America - that drastically reduces clearing costs for brokers trading in multiple markets. As a Tactico company, Verticlear will benefit from the decades of experience our company executives have in this arena."
Headquartered in Irvine, California with an additional office in downtown Toronto, Verticlear was created to fill the gap between the limitations of inflexible back-office systems and what it takes to be competitive in today's market and regulatory landscape.
The company's solutions help brokerage firms trade with greater cost efficiency in multiple markets, aggregate and consolidate data across diverse distribution channels and execute trades without being tied to one execution venue or order management system. The initial market focus will be in North America but the products were developed to improve operational efficiency in any geography with multiple markets.
Verticlear's solutions are well-suited for data and account management challenges faced by broker-dealers in Europe, Asia and emerging regions such as Latin America.
Initial solutions include -
• Cross-Market Trade Compression -
North America's first trade reporting tool that reduces processing costs by decreasing complexity and risk exposure for trading in multiple markets.
• Accounts Online Management -
An advisor and client-facing online transaction tool that helps traders aggregate and consolidate data across multiple distribution channels.
• Level One Trading Platform -
A trading platform that offers back-office agnostic execution routing and the freedom to fully and easily integrate market data with existing systems.
Verticlear plans to release additional solutions that improve upon legacy data models and provide a better framework for brokers to integrate with downstream data systems. Products include event management and workflow tools for both retail and institutional broker-dealers, cost-effective compliance solutions that eliminate cumbersome infrastructures and licensing set-ups, and a consolidated wealth management platform that holistically portrays portfolios across registration barriers - including broker-dealers, money managers, mutual fund dealers and banks.
"The advent of multiple markets in Canada is relatively new," said Francesco Pasin, CEO of JitneyTrade. "As the marketplace evolves it becomes more apparent that we lack industry-wide solutions for increasing operational efficiency in trade reporting. Before we started using Verticlear's cross-market trade compression tool, the obligation of best price and best execution resulted in extremely high clearing costs. Verticlear has reduced our costs by removing these operational inefficiencies and given us the tools to outperform our competition."