ViewTrade, the US-based investment and trading technology solutions provider, has officially launched operations in Australia. The move aims to enhance global market access for Australian investors and potentially generate nearly $160 million in annual savings for the country's wealth industry.
ViewTrade Expands to Australia
The company's expansion into Australia comes at a time when superannuation assets are projected to reach $9 trillion by 2041. ViewTrade wants to use its technology and operational solutions to address inefficiencies in legacy infrastructure, particularly in cross-border investing.
"Australia's promising market, with its incredible wealth management expertise and high growth potential, makes this an exciting venture for us. We're eager to collaborate with local partners, given the sophistication and talent in the market,” Tony Petrilli, CEO of ViewTrade, stated.
At the end of 2023, ViewTrade held over $20 billion in assets under administration globally. Between 2020 and 2023, the company brokered 58.2 billion equity shares, $860.9 billion in equity orders, and 16.7 million option contracts in cross-border transactions.
The new Sydney-based regional headquarters, operating as ViewTrade International Australia (VTIA), marks Australia as the 30th country where ViewTrade offers its suite of solutions. These include cross-border and multi-asset investments, custody, and funding for various financial institutions.
VTIA Led by Three Experienced Executives
Three seasoned industry professionals are at the helm of the new unit. CEO Nigel Singh, who previously established Morgan Stanley's Private Wealth Management operation in Australia, leads the team. He is joined by COO Carl Brazendale, a veteran with experience at BNY Mellon's Pershing division and other global fintech providers, and Operations Manager Kerri Buggy, a former Morgan Stanley director.
Singh highlighted the potential of the Australian market, citing its "huge financial services and wealth sector, exceptional talent pool, and strong yet balanced regulatory landscape.”
“Our local Australian expertise and strong belief in the value and potential of the Australian financial services industry as a whole will position us strongly to succeed from day one,” Singh added.
One of the latest collaborations established by ViewTrade is with the Israeli trading firm IBI Investment House in April. The collaboration aims to provide IBI clients with access to international trading markets through ViewTrade's NextGen platform.
