ViewTrade Introduces Investment Solutions in Australia, Targets $160 Million Annual Savings
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ViewTrade, a US company that provides investment and trading technology solutions, has started operations in Australia. This move aims to give Australian investors better access to global markets and could save the country’s wealth industry almost $160 million every year.
The company’s move into Australia comes as superannuation assets are expected to reach $9 trillion by 2041. ViewTrade plans to use its technology and solutions to fix inefficiencies in old systems, especially in cross-border investing.
ViewTrade Aims To Enhance Efficiency In The Australian Wealth Industry
Tony Petrilli, Chief Executive Officer of ViewTrade, stated that Australia’s promising market, with its high growth potential and strong wealth management skills, makes this an exciting venture for them. He also noted that they are eager to work with local partners because of the market’s sophistication and talent.
Petrilli is excited to share that ViewTrade has officially started operations in Australia. The firm technology and solutions can make the Australian wealth industry more efficient, saving USD 160 million every year.
From 2020 to 2023, ViewTrade held stock shares worth 58.2 billion, processed stock orders of $860.9 billion, and executed 16.7 million contracts for options in transactions across borders. By the end of 2023, it managed more than $20 billion in assets worldwide.
ViewTrade Seeks To Enhance Client Access To International Trading Markets
The new Sydney office, known as ViewTrade International Australia (VTIA), makes Australia the 30th country where ViewTrade offers its range of solutions. These include investments across borders, handling different types of assets, safekeeping, and financing for different financial institutions.
Three experienced industry professionals lead the new unit. Chief Executive Officer Nigel Singh, who previously started Morgan Stanley’s Private Wealth Management in Australia, heads the team.
He is joined by Chief Operating Officer, who has worked at BNY Mellon’s Pershing part and other big companies in finance and technology. Kerri Buggy, former boss at Morgan Stanley, also came on board as the Operations Manager. Singh talked about how Australia has lots of smart workers, a big wealth sector, and good rules that are fair and strong.
Singh added that their deep knowledge of Australia and strong confidence in the value and future potential of the Australian financial services industry will help them succeed right from the start.
One of ViewTrade’s recent partnerships is with the Israeli trading company IBI Investment House in April. The partnership aims to let IBI clients trade in global markets using ViewTrade’s NextGen platform.
