FinClear

What FinClear does

FinClear is Australia's leading independent financial markets infrastructure provider, offering third-party clearing and settlement, execution and trading, API broking, FX and cash management, securities lending, IPO and placement settlement, and managed account services. The company serves a wholesale intermediary base of 250+ stockbrokers, wealth managers, and financial advisers, alongside digital-first fintech platforms including Webull, moomoo, Stake, and IC Markets. FinClear clears and settles approximately AU$360 billion in transactions annually, hosts AU$145 billion in funds under administration, and supports 570,000 investor accounts — touching roughly one in two retail equity transactions in Australia.

The platform is built around a cloud-based technology stack centered on the proprietary TradeCentre suite (TradeCentre Adviser for desktop trading and TC Ops for middle-office operations), an API broking platform providing direct market access to ASX and Cboe via FIX protocol, and the FCX distributed-ledger private markets platform built on Digital Asset's Daml smart contract language and the Canton Network. Supporting modules include Cash Hub (13-currency multi-currency accounts), wholesale FX execution, cross-border payments via the New Payments Platform, and stock lending services. In October 2024, FinClear's FCX subsidiary received the first Australian Market Licence and Clearing and Settlement Facility Licence granted outside ASX, making it the world's first fully regulated DLT-enabled private capital market.

FinClear generates revenue primarily through transaction fees on clearing, execution, and FX activity, supplemented by recurring API and TradeCentre platform subscriptions to intermediaries and fintech partners, and transaction fees on FCX private market trades. The company was founded in 2015 by David Ferrall, who remains CEO, and operates as a privately held entity with backing from Magellan Financial Group and King River Capital. Growth has been driven by acquisitions — notably Pershing Australia (June 2021), which delivered TPC scale leadership, and Transact1 (August 2023), which added institutional cash investment technology — combined with mandate wins from major global fintechs and the build-out of regulated private markets infrastructure.

Name

FinClear

Legal name

FinClear Pty Ltd

Website

https://finclear.com.au

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

FinClear is Australia's leading independent financial markets infrastructure provider, offering third-party clearing, execution, API broking, FX/cash management, and private markets services to stockbrokers, wealth managers, advisers, and fintech platforms.

Ownership category

akta.pro rank

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Third-Party Clearing Services (TPC): FinClear provides clearing and settlement services as a licensed Clearing Participant. It takes on operational responsibilities, regulatory requirements, and credit exposure of clients over the T+2 settlement period. This is a utility-style, scale-dependent business with low margins but significant volume.
2. Execution and Trading Services: Provides execution services for equity trading across ASX and Cboe markets, including international trading capabilities. Revenue generated through transaction fees on trades executed.
3. API and Technology Services: Licenses API technology to fintech partners enabling CHESS-sponsored trading, account opening automation, and market data access. Provides TradeCentre platform subscriptions to market participants.
4. FX and Cash Management: Provides wholesale FX execution and conversion, multi-currency accounts, and international payment services. Generates revenue through spreads on FX transactions and fees on payments.
5. FCX Private Markets: Operates the FCX platform for private company secondary transactions. Provides cap table services, ESOP administration, and capital raising support. Revenue model based on transaction fees for trading and settlement on the platform.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

FinClear provides third-party clearing and settlement, execution and trading services, an API broking platform for fintech partners, multi-currency cash management, FX and payments, stock lending, managed accounts, and primary markets services to stockbrokers, wealth managers, financial advisers, and fintechs in Australia. Through its FCX subsidiary, it also operates the world's first ASIC/RBA-licensed DLT-enabled private capital markets platform for trading and settling private company securities and unlisted funds.

Product overview

FinClear is Australia’s leading independent financial markets infrastructure provider operating a platform-plus-modules architecture. The core TradeCentre platform (including TradeCentre Adviser for desktop trading and TradeCentre Ops for middle office operations) connects to ASX and Cboe exchanges via APIs for trade execution, clearing, and settlement. FinClear provides third-party clearing services where it acts as Clearing Participant for Market Participants. The company offers a comprehensive API suite enabling fintech partners (moomoo, Stake, Webull, Netwealth, IC Markets) to build trading capabilities. The FinClear Group also includes FCX (a DLT-enabled private markets platform with historic ASIC/RBA licences for trading and settling private company securities) and Transact1 (cash investment platform for institutional investors). Supporting modules include Cash Hub for multi-currency management, Foreign Exchange for 13 currency pairs, Payments for cross-border transactions, Stock Lending, Managed Accounts, Primary Markets services, and Individual HIN for direct share ownership.

Differentiator

Problem solved

Functional benefit

Brands

• FCX: Australia's first fully regulated private markets platform using DLT technology for trading and settling securities in private companies and unlisted funds.
• Transact1
• TradeCentre
• FinClear Cash Hub
• FinEx

Products and services

• TradeCentre Adviser (TCA) Flagship desktop trading application providing feature and data-rich functionality including trading, market data, watchlists, account and portfolio tools in a single customizable workspace. Serves investment professionals as primary OMS or disaster recovery solution and is positioned as a cost-competitive alternative to market incumbents.
• FinClear API Platform Cloud-based API infrastructure providing direct market access to ASX and Cboe exchanges along with broking services including account establishment, order management, market data, and CHESS access via FinClear's proprietary technology. Supports FIX protocol for real-time messaging and embeds with partners like Stake, moomoo, Webull, and IC Markets.
• FinClear Clearing & Settlement Services Third-party clearing (TPC) services for Australian equity markets. FinClear acts as a licensed Clearing Participant, taking on operational, regulatory, and credit exposure responsibilities for Market Participants over the T+2 settlement period. Clears and settles AU$360 billion in transactions annually.
• FCX Private Markets Platform Australia's first fully regulated private markets platform. Built on distributed ledger technology (Daml smart contracts and Canton Network), FCX enables tokenized security trading, capital raising, ESOP management, cap table services, and T+0 settlement for private companies and unlisted funds. Holds Australian Market Licence and CS Facility Licence from ASIC and RBA.
• FinClear Cash Hub Integrated multi-currency cash management solution providing segregated client trust money accounts, real-time settlement for global market cycles, and FX execution at wholesale rates. Supports 13 major currencies (AUD, USD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NZD, NOK, SGD, SEK).
• FinClear Foreign Exchange Wholesale FX execution and conversion services providing direct liquidity access with transparent pricing. Supports AUD, USD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NZD, NOK, SGD, and SEK for pre-funding global T+1 settlement requirements.
• FinClear Payments Same-day cross-border payment services connecting Australia's capital markets globally. AML/CTF and AUSTRAC compliant with integrated beneficiary verification and revocable standing directions.
• FinClear Stock Lending Securities borrowing and lending services provided in partnership with tier lenders, enabling brokers to facilitate stock loans for their clients.
• FinClear Trading Services Execution services including DMA Trading, API Trading, Wealth Trading, Stock Loan Desk, and International Trading across Australian and global markets.
• FinClear Managed Accounts Wealth management infrastructure offering significant advantages to wealth managers, financial advisers and their clients through the FinClear platform.
• FinClear Primary Markets IPO and placement settlement services for issuers and corporate advisory businesses, facilitating capital raising in domestic and international markets.
• Individual HIN (iHIN) Individual Holder Identification Number service enabling investors to directly own shares in their own name via CHESS sponsorship, providing enhanced transparency, control, and security over custodial solutions.
• Transact1 Cash investment platform for wholesale and institutional investors offering aggregated cash investment products, automated price discovery, portfolio optimization, administration, and compliance services. Hosts Australia's major deposit-taking institutions including the Big Four banks.

Quantifiable outcome

• Clears and settles $360 billion in transactions annually, touching 1 in 2 retail transactions in Australia
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core, strategic and major.

• Transact1coreOthers · 1 August 2023Acquired Transact1, a cash investment technology provider for wholesale and institutional customers. Transact1 operates a cloud-based platform hosting Australia's major deposit-taking institutions. Expands FinClear's offerings to include cash investment aggregation, portfolio optimization, and compliance services.
• Pershing AustraliacoreOthers · 1 June 2021Acquired Pershing Australia in June 2021, significantly accelerating FinClear's scale in the third-party clearing market. This acquisition established FinClear as the leading TPC provider in Australia and brought critical mass of clients and infrastructure.
• Digital AssetstrategicTechnology or IntegrationFinClear partners with Digital Asset on the Canton Network, a privacy-enabled interoperable blockchain network for institutional assets. FCX is built on Digital Asset's Daml smart contract language and Canton Network, enabling synchronized financial market applications.
• NetwealthmajorStrategic or Co-development PartnerPartnership enables Netwealth to offer individual HIN data and trading capability via FinClear APIs. Augments Netwealth's existing reporting and trading solution with direct equity ownership options for wealth professionals.
• moomoomajorStrategic or Co-development PartnerFinClear enables moomoo to offer CHESS-sponsored HIN trading for Australian investors. Partnership provides direct market access and individual security ownership alongside moomoo's existing custodial solution.

Scale indicators6 records

Recent moves7 records

Expansion highlights7 records

Emerging players

• Securitize: Securitize is a regulated platform for tokenising and trading private securities using blockchain technology. Comparable as an emerging player in the same regulated tokenisation-of-private-securities category where FCX operates, though Securitize focuses on digital asset issuance while FCX holds full Australian market and settlement facility licences.
• Digital Asset: Digital Asset builds the Daml smart contract language and Canton Network for institutional assets. It is comparable as FinClear's FCX platform is built on Digital Asset's technology, and both target the institutional DLT-enabled capital markets opportunity with adjacent but not directly overlapping go-to-market approaches.

Direct peers

• Iress: Iress is an ASX-listed technology provider to financial services, offering trading, market data, and wealth management platforms. It is directly comparable to FinClear as both serve Australian brokers, advisers, and wealth managers with trading infrastructure and OMS/EMS solutions; FinClear's TradeCentre Adviser explicitly interoperates with Iress.
• Netwealth: Netwealth is an ASX-listed wealth management platform that partners with FinClear for HIN data and trading. Comparable as both operate B2B platform infrastructure for advisers and wealth managers in Australia, though Netwealth focuses on the wrap/platform layer while FinClear provides clearing and trading infrastructure.
• HUB24: HUB24 is an ASX-listed wealth management platform serving advisers and their clients with portfolio administration, trading, and reporting. Comparable to FinClear's wealth infrastructure offering (Managed Accounts, HIN data, Transact1 cash investment) given overlap in serving the same intermediary ecosystem in Australia.
• Praemium: Praemium is an ASX-listed provider of wealth management technology including platform, managed accounts, and portfolio reporting infrastructure. Comparable to FinClear's Managed Accounts and wealth platform integration capabilities for Australian financial advisers and stockbrokers.
• GBST (Iress): GBST provides back-office and securities processing technology for the wealth and broking industry, including clearing-adjacent workflows. It is comparable to FinClear's execution and settlement technology stack serving intermediaries in Australia and the UK.

Broad incumbents

• Broadridge Financial Solutions: Broadridge is a global leader in investor communications, transaction processing, and back-office technology for broker-dealers. Comparable as a broad incumbent in financial markets infrastructure with which FinClear maintains a partnership for CHESS connectivity while positioning itself as an alternative infrastructure layer.
• Pershing (BNY Mellon): Pershing provides clearing, custody, and wealth management infrastructure globally and previously operated Pershing Australia, which FinClear acquired in 2021. Comparable as a global clearing infrastructure incumbent whose exit created FinClear's scale and whose ongoing international operations represent competitive context.
• ASX (Australian Securities Exchange): ASX operates Australia's primary exchange, clearing house, and settlement facility. Comparable as the incumbent monopoly whose infrastructure FinClear directly competes against in clearing/settlement and now in private markets (FCX holds the first alternative market and CS facility licences outside ASX).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCZUR0uqPlxo-cyAjhzRyZNw
• LinkedInlinkedin.com/company/17903929

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors2 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 FinClear