BFM | PROFILE
Andrea Marani
How OpenMarkets Continues to Trade up In the stockbroking industry, OpenMarkets stands out as a pure-play execution-only online broker, with a business model based on trade execution, not on advisors. It’s a business that specialises in brokerage technology for trading on the Australian stock markets and clears its own trades. It is a new way of looking at stockbroking writes Leon Gettler.
T
he key to OpenMarkets’ success, according to the firm’s chief executive officer and managing director Andrea Marani, lies with its application programming interfaces (APIs), software that allows different applications and computer systems to connect with each other. “It’s a model that gives clients access to APIs, enabling them to
76 BUSINESSFIRST MAGAZINE
develop their own customised trading applications on top of our technology and brand themselves around it, creating their own look and feel.” OpenMarkets generates its revenue from providing trade execution services to licensed third parties, which include fintech companies like Acorns, wealth management companies, financial
advisers that manage client portfolios and internationallybased brokers, as well as individual retail traders. Its trading is also linked to a number of cash and margin lending providers like Macquarie, ANZ, CBA, Bank West, NAB and Leveraged. “As an execution-only broker, we need to be able to provide the
www.businessfirstmagazine.com.au