AtlasClear

What AtlasClear does

AtlasClear Holdings is a publicly traded fintech (NYSE American: ATCH) building a vertically integrated financial infrastructure platform that combines trading, clearing, settlement, custody, and banking services for small and mid-sized financial institutions (those with up to $1B in annual revenue), broker-dealers, and fintechs. The core operating asset is Wilson-Davis & Co., a SEC-, FINRA-, and SIPC-registered correspondent broker-dealer and DTCC/NSCC member with over 50 years of operating history, which provides regulated clearing, settlement, custody, and compliance services on a cloud-ready, API-driven technology stack. The product portfolio spans RubiconFX (FX execution and risk), AtlasFX (trading front-end), RubiconRX (FX middle office), the planned SURFACExchange (institutional FX options central limit order book), and BondQuantum (real-time bond risk analytics).

The business model is transaction-fee based: revenue is generated primarily through clearing commissions from correspondent broker-dealer clients, with additional streams from margin lending, stock loan, and interest income. Distribution is enterprise-direct, targeting institutions underserved by large incumbent clearing providers, with the company adding new correspondent relationships and the recently signed Dawson James Securities as the first major platform integration. The pending acquisitions of Commercial Bancorp of Wyoming (a Federal Reserve member bank parent) and Dawson James Securities are intended to extend the platform into chartered banking and investment banking, with management projecting a $45M annualized revenue run rate post-close.

Operationally, AtlasClear has executed a significant financial turnaround since its 2024 de-SPAC formation with Quantum FinTech Acquisition Corp, retiring over $43M in debt, cutting legacy de-SPAC liabilities by more than 95%, and improving stockholders' equity from a $6.8M deficit to $22.3M positive, while reporting 65–84% year-over-year quarterly revenue growth and year-to-date net income of $4.4M.

Name

AtlasClear

Legal name

AtlasClear Holdings

Website

https://atlasclear.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

AtlasClear Holdings is a publicly traded fintech (NYSE: ATCH) operating Wilson-Davis & Co. and building a vertically integrated clearing, settlement, banking, and investment banking platform for small and mid-sized financial institutions, broker-dealers, and fintechs.

Ownership category

akta.pro rank

Product category

Financial Services - Clearing, Settlement and Custody

NAICS

Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Distribution Support & Dealer Services (Commissions/Trails, Agreements, Data Feeds) (FSAAAMAJ)

akta.pro secondary industries

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA), FX Conversion, Pricing & Hedging Infrastructure (Treasury/Rate Engines) (FSAGAKAG), OTC Derivatives Execution Platforms (SEF/OTF/Swap Execution) (FSAFANAE), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Correspondent clearing services
• Broker-dealer infrastructure
• Foreign exchange platform
• Bond risk analytics
• Financial services technology

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Clearing and Commission Revenue: Revenue generated through clearing services provided to correspondent broker-dealers via Wilson-Davis & Co. Driven by increased commission activity and expanded clearing services. Q2 2026 revenue of $5.1 million represents 84% year-over-year increase.
2. Margin Lending and Stock Loan: Revenue from margin lending and stock loan services offered to institutional and correspondent clients through the clearing platform. Part of key functions supporting sustainable growth and client confidence.
3. Investment Banking (Pending): Capital markets origination and investment banking services to be added through Dawson James Securities acquisition. Will extend investment banking capabilities to other clearing clients on the platform.
4. Banking Services (Pending): Deposit, payment, and lending capabilities to be added through Commercial Bancorp/Farmers State Bank acquisition. Will provide treasury management, sweep deposits, credit solutions, and banking services for institutional clients.
5. Interest Income: Interest income from banking operations and cash management. Fiscal year-to-date net income of $4.4 million compared to net loss in prior-year period.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

AtlasClear provides a technology-enabled financial services platform delivering correspondent clearing, settlement, custody, and compliance services to broker-dealers and small/mid-sized financial institutions through its wholly-owned subsidiary Wilson-Davis & Co., a FINRA/SIPC-registered broker-dealer with DTCC/NSCC membership and 50+ years of operating history. The platform combines a current core clearing business with an FX Product Suite (RubiconFX, AtlasFX), planned SURFACExchange institutional FX options trading, and BondQuantum bond risk analytics, while pending acquisitions of Commercial Bancorp (banking) and Dawson James Securities (investment banking) extend the offering into deposit, payment, lending, and capital markets services.

Product overview

AtlasClear offers a unified financial services platform combining trading, clearing, settlement, and banking services. The core operational product is the Clearing, Settlement, and Custody Platform delivered through subsidiary Wilson-Davis & Co. The FX Product Suite includes RubiconFX (end-to-end FX system), AtlasFX (companion trading application), FX Clearing & Settlement, Risk Management Monitor, and RubiconRX (middle-office services). Additional planned products include SURFACExchange (institutional FX options trading), BondQuantum (real-time bond risk analytics), and Front Office/Back Office Tools. The company also operates through acquired subsidiaries Wilson-Davis & Co. and pending acquisition Commercial Bancorp of Wyoming, with technology partner LocBox for digital onboarding.

Differentiator

Problem solved

Functional benefit

Products and services

• Correspondent Clearing, Settlement, and Custody Platform Regulated correspondent clearing, settlement, custody, and compliance services delivered through wholly-owned subsidiary Wilson-Davis & Co., a full-service broker-dealer registered with SEC, FINRA, and SIPC and member of DTCC and NSCC. Serves institutional and retail broker-dealers seeking modern infrastructure and scaling capacity.

Quantifiable outcome

• Revenue growth of 84% year-over-year to $5.1 million in Q2 2026
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered core.

• Ark Financial Services, Inc. / Dawson James SecuritiescoreStrategic or Co-development Partner · 24 April 2026Full-service investment bank headquartered in Boca Raton, Florida focused on small-cap and micro-cap companies. All-cash-and-stock transaction structured in two phases (24.9% initial, remainder after FINRA approval). Expected to expand platform into investment banking and capital markets origination.
• Commercial Bancorp of Wyoming (CBW)coreStrategic or Co-development Partner · 10 February 2026Parent company of Farmers State Bank, a Federal Reserve member bank. Pending acquisition adds regulated deposit, payment, and lending capabilities. Transaction structured as approximately 73% AtlasClear common stock and 27% cash. Subject to regulatory approvals from Federal Reserve Board and Wyoming Division of Banking.
• Wilson-Davis & Co., Inc. (WDCO)coreStrategic or Co-development PartnerWholly-owned subsidiary providing regulated clearing, settlement, custody, and compliance services. Full-service correspondent broker-dealer registered with SEC, FINRA, and SIPC, and member of DTCC and NSCC. Over 50 years of operating history in OTC and microcap markets. Cornerstone of AtlasClear's financial services platform.

Scale indicators17 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Apex Fintech Solutions: Apex Fintech Solutions operates a cloud-based clearing and custody platform serving broker-dealers, fintechs, and digital advisory firms. It is the most direct comparable to AtlasClear's Wilson-Davis correspondent clearing model, with similar technology-led positioning targeting small and mid-sized financial institutions.
• Wedbush Securities: Wedbush operates a correspondent clearing platform serving introducing broker-dealers, alongside traditional brokerage and capital markets services. Its clearing model and target segment overlap directly with AtlasClear's Wilson-Davis correspondent business.
• COR Clearing: COR Clearing provides correspondent clearing, custody, and prime brokerage services to retail and institutional broker-dealers. It is one of the established direct competitors in the small/mid-cap correspondent clearing segment that AtlasClear targets.
• Vision Financial Markets: Vision Financial Markets provides correspondent clearing and prime brokerage services to introducing brokers and institutions. It competes with Wilson-Davis in the small/mid-sized broker-dealer clearing segment.
• DASH Financial Technologies: DASH Financial Technologies provides options execution, clearing, and trading technology to broker-dealers and institutional clients. Its technology-centric clearing and execution infrastructure for options markets is comparable to AtlasClear's planned SURFACExchange FX options platform.

Broad incumbents

• StoneX Group (formerly INTL FCStone): StoneX is a global financial services network providing clearing, execution, FX, and investment banking across asset classes. AtlasClear director Steven Carlson was formerly President of INTL FCStone Financial's investment banking arm, and StoneX is a broad incumbent against which AtlasClear's vertically integrated platform competes.
• Interactive Brokers: Interactive Brokers is a large, technology-led broker-dealer and prime broker providing clearing, custody, and execution globally. While its scale and breadth exceed AtlasClear's, the modern, low-cost, API-driven trading infrastructure makes it a benchmark for AtlasClear's platform aspirations.
• Broadridge Financial Solutions: Broadridge provides technology-driven infrastructure for trading, clearing, and post-trade processing across the financial services industry. It is a broad incumbent serving broker-dealers and asset managers with back-office and middle-office automation that overlaps with AtlasClear's planned workflow products.
• Pershing (BNY Mellon): Pershing, a BNY Mellon company, is one of the largest correspondent clearing providers globally, serving broker-dealers, RIAs, and fintechs. It is the dominant incumbent against which AtlasClear positions itself as a modern alternative for underserved institutions.

Regional players

• TradeStation: TradeStation is a technology-focused online broker-dealer offering self-clearing trading platforms primarily to active retail and institutional clients in the US. Its technology-led brokerage model and self-clearing infrastructure make it comparable to AtlasClear's API-driven platform strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/quantum-fintech

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AtlasClear