DriveWealth Platform to Power Groundbreaking Product for Nigerian Retail Investors
CHATHAM, N.J., July 1, 2019 — DriveWealth, LLC, a U.S. based leader in global digital trading technology, today announced a new partnership with Sigma Securities Limited, a leading Nigerian brokerage firm, and Trove Technologies, a cutting-edge Africa-based financial app developer. The DriveWealth platform is the engine for the new offering, which is launching today, giving Nigerian investors their first seamless digital access to the U.S. equity markets.
DriveWealth CEO Robert Cortright said: “Making U.S. securities available to investors of any size in countries all around the globe is an essential element of the mission of DriveWealth. We are delighted to work with Sigma Securities and Trove Technologies on this effort to democratize investing in Nigeria by bringing to its retail investors the largest and most liquid, transparent financial market.”
Sigma Securities Limited CEO Dunama S. Balami said: “From today, partnering with DriveWealth and Trove Technologies, we have broken through the trading barriers into the U.S. stock market. Nigerian investors can now seamlessly trade U.S. equities. This partnership is a groundbreaking feat in the Nigerian Capital Market ecosystem, and we are proud to champion this cause. We believe that in togetherness and partnership, we can do so much in stock markets across the globe.”
Trove Technologies Limited CEO Oluwatomi Solanke said: “At Trove, we believe global investment opportunities should be available to all Africans. As an important market for any company with global ambitions, Africans should be able to reap the benefits of the success of these companies. Our partnership with DriveWealth and Sigma Securities brings the world’s largest stock market to Nigerian investors, regardless of spending power. Further, it eliminates the longstanding bottlenecks that have hampered access to this market. A world of borderless investing is a vision that excites us, and partnering with DriveWealth was perfectly in line with that mission.”
With customers and partners in more than 140 countries, DriveWealth is the pioneer in bringing digital access to the U.S. securities market for investors around the world. The company, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market by making it available to everyone, globally, at an affordable cost. Feature by feature, DriveWealth has eliminated many of the barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities. Today, DriveWealth provides this innovative investing technology and its own customizable suite of application programming interfaces (APIs) to partners all over the world, allowing investors everywhere to gain access to the highly stable, liquid and regulated U.S. stock market with a fully accessible, straightforward user experience.
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC. DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information, please visit DriveWealth.com.
About Sigma Securities
Sigma Securities Limited was incorporated to carry out among others, the business of an investment and trust company in all or any of its branches and to act as financial advisers and financial agents. The Company is duly registered by the Nigerian Securities and Exchange Commission as a broker-dealer and was also granted a Dealing Membership license by the Council of The Nigerian Stock Exchange. As one of the leading players in the Nigerian stock market, Sigma Securities aims to exceed its clients’ investment and service expectations and actively pursues this by deploying technology that allows the firm to serve the high and low end of the market without the usual manual processes that come with such service. For more information, please visit www.sigmasecuritiesltd.com.ng/.
About Trove Technologies Limited
Trove Technologies Limited built and wholly owns Trove, a technology platform that allows Africans to invest in financial securities locally, within the continent, and internationally, outside the African continent. Trove also provides APIs and tools to broker-dealers and fund managers in order to provide access to global markets. Trove neither offers its own recommendations on any security nor provides its own research to any user per any security transaction and/or order. Trove is a technology platform, not a registered broker-dealer or investment advisor.