Thought I’d share, they’ve just started assembling their team to enter capital markets. Evarvest is currently way ahead
Thanks for sharing @m! I was wondering when the next details of Revolut’s trading platform would be released
From this post they have quite a way to go before their team is built! They first announced their entry into trading last June (2018) so I have been surprised of the silence up until now. I personally like their product as I’ve lived in various countries across the globe and it’s been a great help but I have noticed a slowdown in the release of new products. I can imagine a US launch would take-up quite a few resources!
I was interested also to read that they’ve hired an old school banker from Goldman Sachs, a company Revolut is very much a disrupting. Will be interested to see if the big bank culture starts to infilitrate it’s way into the fintech space with hires such as this.
Fresh from the press: https://blog.revolut.com/trading-revolut/
Only US stocks. I guess the above mentioned team will be for something else, maybe expansion of the product.
@m thanks for sharing! More competition is always good for consumers
There’s still a lot of skills needed to integrate with a company like DriveWealth which provides the infrastructure to FreeTrade, Invstr, Stake, Vested etc and now Revolut, to support fractional shares.
There’s additional dev time, and front end design, likewise, there’s a lot of regulatory compliance, operational elements and content marketing when launching new products/integrations.
Although DriveWealth is an SEC registered Broker, it’s important to ensure Revolut meets UK/EU regulations, particularly MiFID II.
On the operational side, we’ve gone through similar with our own partners - selecting the right execution order types/durations, security around the APIs (as the join between applications is the least secure), managing trading volume liquidity parametres - and plenty more!
Making a trading app simple is a complex process
I read this morning that they’re only providing access to 300 stocks at this stage too. I know their partner Drivewealth provides access to over 3,000 stocks so will be interesting to see how quickly they add to this list.
Evarvest are utilising Tercero/Third Fin, right? I think that was public domain from your crowd raise if I recall correctly. How deeply are you guys integrating with them? Being pan-European I’d assume it’s more efficient to let them take the actual custody/settlement rather than manage an array of world of Central Securities Depositories directly? But long-term would it be Evarvests intention to build your own back office/trading platform to reduce the risk of being squeezed or constrained by your supplier?
What’s your solution when it comes to fractional US (all exchanges - but US mostly)? Will you be looking at DriveWealth?
Hi @DataNerd, I think you might be thinking of another campaign page, we haven’t shared our partners on our crowdfund with the exception of two we did joint press releases with.
All our agreements with our partners contain a confidentiality agreement and we respect our partners right to privacy. In light of this, I hope you can understand why we can’t share their details or the details of our partnership. With any partnerships, it’s always good to have contingencies in place.
What I can share is fractional is on our roadmap and we’ll share more details when we’re closer to launching this, we have to keep some surprises