Openmarkets launches new retail custody capability and ASX equities with investment platform Syfe

Trading and wealth management fintech Openmarkets has partnered with Asia-Pacific investment platform Syfe to offer its Australian investors access to ASX equities.

In addition to providing trading infrastructure for ASX equities on the platform, the ASX equities solution features Openmarkets’ new retail custody capability, providing a vehicle to hold equities on behalf of investors under a single Holder Identification Number (HIN).

This solution allows Syfe to offer its customers 2,000+ ASX equities at competitive brokerage rates, and give investors the ability to buy the top 1,000 ASX equities with a one unit minimum for their first and ongoing buys.

The solution has now been deployed across the Syfe platform and trading of ASX equities has commenced.

Dan Jowett, CEO of Openmarkets Group said it is proud to provide Syfe with an innovative ASX equities solution for its investors.

“Openmarkets is delighted to provide Syfe with a best-in-class ASX equities solution that meets our client’s commercial objectives and has direct cost benefits for its Australian investors.

“The launch of our retail custody capability strengthens our market position as technology provider of choice for emerging retail investment platforms.”

Tim Wallace, General Manager and Country Head Australia at Syfe, said Openmarkets’ solution supports its ambition to create simple and affordable access to assets across the Asia-Pacific region.

“Syfe is using Openmarkets’ capability to give Syfe customers innovative access to ASX equities, lowering their barriers to investment entry, and ultimately helping them achieve their wealth creation goals.”