Alpaca noted that it is cementing its self-clearing foundation through its DTCC membership and product launches, including Options Trading and High Yield Cash Accounts.
Alpaca, a brokerage infrastructure tech firm and self-clearing broker-dealer, delivering execution and custody solutions for Stocks, ETFs, and Options, that support FIs, announced a partnership with Derayah Financial, a financial services firm and the digital investment platform in the Kingdom of Saudi Arabia (KSA), to expand “financial accessibility” in the Middle East.
This partnership, including an investment by Derayah in Alpaca, accelerates its efforts to enable access to Saudi Exchange (Tadawul) to investors through Alpaca’s brokerage infrastructure that “supports hundreds of financial institutions and millions of individuals.”
KSA’s Vision 2030 initiatives are fueling growth across sectors in the financial markets, and Saudi Exchange is reportedly becoming “one of the key exchanges in the world.”
This includes offering an API for institutional and individual algorithmic traders while empowering fintechs and enterprise institutions to “embed investment services.”
Alpaca announced that it has completed “establishing its Saudi local entity.”
Yoshi Yokokawa, Co-founder and CEO, at Alpaca said:
“This partnership will accelerate our mission of opening financial services to everyone on the planet.”
Mohammed Al-Shammasi, CEO at Derayah, expressed:
“This partnership reflects our commitment to innovation and the development of solutions that integrate local expertise with world-class technology, reinforcing our leadership in the financial technology sector within the Kingdom.”
By combining Alpaca’s infrastructure and Derayah’s experience, they are poised to “drive advancements in investing accessibility for investors in the KSA and beyond.”
As covered, Alpaca is a US headquartered brokerage infrastructure tech company and self-clearing broker-dealer, delivering “execution and custody solutions for Stocks, ETFs, and Options.”
Alpaca is backed by investors, reportedly including the following: Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.
As noted in the update, Derayah is a financial services firm that focuses on empowering the investor by providing the independent and cost-effective way for “average investors to put their money to work.”
Derayah has built and operates the first mutual fund supermarket in Saudi Arabia and the Middle East.
Derayah provides the integrated platform to trade in Saudi Arabia, regional exchanges and international financial markets.
