- SelfWealth (SWF) is set to continue its partnership with OpenMarkets, with the signing of a new contract
- Currently, OpenMarkets is the supplier of clearing, settlement and execution (CS&E) services for SelfWealth’s trading platform
- Details on the agreement will remain confidential
- However, the company did say the agreement will begin in January 2021 and will be for an initial three years with an option to extend the contract
- There has been growth in daily volumes on the SelfWealth platform since the previous contract was signed in 2017
- SelfWealth is up 6.60 per cent and shares are trading for 56.5 cents
Stock Brokers SelfWealth (SWF) has signed a new contract with OpenMarkets.
OpenMarkets is the current supplier of clearing, settlement and execution (CS&E) services for the SelfWealth trading platform.
The new contract will begin in January 2021 and will be for an initial three years, with an option to extend for a further one or two years. The agreement will be completed over the next two months.
The companies are pleased to have negotiated new terms, however, the agreement details will remain confidential.
There has been growth in daily volumes on the SelfWealth platform since the previous contract was signed in 2017.
“We thank all parties that were involved in a very competitive tender process and congratulate OpenMarkets on their success. With our CS&E partner now locked in for the long term, we can focus on additional opportunities to work alongside OpenMarkets,” SelfWealth’s Managing Director, Rob Edgley said.
OpenMarkets CEO Ivan Tchourilov is pleased to continue its partnership with SelfWealth.
“OpenMarkets is proud to be the home of innovative Australian businesses that bring value to Australian investors through locally produced technology and SelfWealth is a market-leading example,” Rob said.
“We are very excited about what the future holds for our partnership,” he said.
SelfWealth is up 6.60 per cent and shares are trading for 56.5 cents at 12:46 pm AEST.