What PureStream Trading Technologies does

PureStream Trading Technologies, operating through PureStream, LLC, is a privately-held U.S. Alternative Trading System (ATS) founded in 2021 and headquartered at 75 Rockefeller Plaza in New York. The company provides a regulated trading venue for institutional and professional clients to execute orders in U.S. National Market System (NMS) securities, explicitly excluding retail users. PureStream holds FINRA and SIPC memberships and operates under an active SEC Form ATS-N filing (filenum 013-00182), publishing monthly execution quality statistics pursuant to SEC Rule 605.

The core product is a proprietary trading platform protected by two granted U.S. patents (Nos. 11,526,945 and 11,941,701), with additional U.S. and foreign patent applications pending. The architecture supports trading, quantitative research, risk management, and market execution workflows for institutional counterparties, with Rule 605 reporting providing post-trade transparency on execution performance versus primary and other competing venues.

The business model and pricing are not publicly disclosed; based on standard ATS economics, revenue is likely generated via transaction-based fees (per share or per trade) and/or institutional subscription arrangements with professional buy-side and sell-side clients. The company is privately held with no publicly disclosed investor base beyond the 2021 funding syndicate, and is led by CEO Armando Diaz, COO Sean Hoover, CTO Yogesh Wagle, and Chief Compliance Officer Aaron Krieger.

Name

PureStream Trading Technologies

Legal name

PureStream, LLC

Website

https://purestream.tech

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

PureStream Trading Technologies operates an SEC-registered Alternative Trading System (ATS) providing patented, institutional-only trading technology for executing U.S. National Market System securities, subject to FINRA, SIPC, and SEC oversight.

Ownership category

akta.pro rank

Product category

Alternative Trading System

NAICS

Software Publishers (513210)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ)

Keywords

• Alternative trading system
• Institutional trading platform
• Trading technology platform
• Securities execution venue
• ATS platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Core offering

PureStream, LLC operates a registered Alternative Trading System (ATS) that provides institutional and professional clients with a patented trading technology platform for executing trades in National Market System securities. The platform is protected by U.S. Patent Nos. 11,526,945 and 11,941,701 (with additional patents pending) and publishes monthly SEC Rule 605 execution quality reports. PureStream holds FINRA and SIPC memberships and is explicitly not intended for retail customer use.

Product overview

PureStream Trading Technologies operates as an Alternative Trading System (ATS) offering a unified trading platform. The company's core product is its proprietary trading technology, which is protected by U.S. Patent Nos. 11,526,945 and 11,941,701, with other patents pending. PureStream provides execution quality reporting under SEC Rule 605 and serves institutional and professional clients.

Differentiator

Problem solved

Functional benefit

Products and services

• PureStream Trading Platform (ATS) Registered Alternative Trading System (ATS) that provides institutional and professional clients a patented trading technology platform for executing trades in National Market System securities. Includes SEC Rule 605 monthly execution quality disclosures.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Recent moves5 records

Expansion highlights3 records

Direct peers

• MEMX (Members Exchange): MEMX is a member-owned ATS and exchange targeting lower-cost institutional and wholesale trading, directly comparable to PureStream as a tech-forward alternative venue for NMS securities execution.
• MIAX (Miami International Holdings): MIAX operates multiple registered exchanges and ATS platforms for equities and derivatives, making it a directly comparable operator of regulated trading venues serving institutional clients.
• Cboe EDGX / Cboe Global Markets: Cboe operates EDGX and other registered equities exchanges/ATSs explicitly targeting institutional order flow and execution quality—highly comparable to PureStream's ATS offering.
• Investors Exchange (IEX): IEX operates a registered ATS and national securities exchange focused on institutional trading and execution quality, directly overlapping PureStream's regulated ATS model and institutional customer base.

Broad incumbents

• Jane Street: Jane Street is a leading global liquidity provider and ATS participant across equities and ETFs, comparable to PureStream as a sophisticated institutional counterparty on regulated trading venues.
• NYSE (Intercontinental Exchange): ICE/NYSE operates listed exchanges and the NYSE American/Arca ATSs providing institutional trading infrastructure in NMS securities, making it a broad incumbent competing for the same institutional flow.
• Nasdaq (Nasdaq, Inc.): Nasdaq runs major NMS-listed exchanges and ATSs (including its own trading-venue business) and is also a PureStream investor (Nasdaq Ventures), representing the largest incumbent exchange and a broad competitor in institutional trading.
• Tradeweb Markets: Tradeweb operates regulated electronic trading platforms across asset classes and is an incumbent in institutional trading, comparable to PureStream in targeting professional trading workflows.
• Virtu Financial: Virtu Financial operates a wholesale electronic market-making franchise that consumes liquidity on ATS venues globally, directly comparable to other institutional counterparties that route flow through venues like PureStream.
• Citadel Securities: Citadel Securities is a wholesale market maker and operator of retail/institutional liquidity provision across major ATSs; it directly competes for institutional order flow that PureStream would target.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors6 records

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

M&A

Investments

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

Frequently asked questions about PureStream Trading Technologies