Openmarkets
Openmarkets is an Australian B2B wholesale broker and wealthtech platform providing execution, clearing, settlement, custody, and API-first technology to fintechs, financial advisers, professional traders, and wealth managers under AFSL 246705.
- Company typePrivate
- Founded2012
- HeadquartersSydney, Australia
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Openmarkets does
Openmarkets is an Australia-headquartered B2B wholesale brokerage and wealthtech platform that provides execution, clearing, settlement, custody, and integrated technology services to fintechs, financial advisers and wealth managers, professional traders, and advice practices operating as Corporate Authorised Representatives. The company operates as a full Market Participant on the ASX, Cboe Australia, and NSX, and is an ASX Clear and Settlement Participant under AFSL 246705, allowing it to deliver end-to-end post-trade infrastructure rather than resell third-party rails.
The product architecture combines a core brokerage stack (Brokerage Services, Order Manager / Trading Terminal, Risk Management) with a wealth-management overlay (Wealth Management SaaS, Managed Accounts, Portfolio Admin, Private Wealth CAR) and an API-first distribution layer (FIX, REST, SignalR streaming, OAuth2 authentication) under a dedicated developer portal at dev.openmarkets.com.au. Integrations span seven portfolio management platforms (Class, Praemium, M2, Dash, Xplan, Acclaim, BGL) plus third-party trading platforms (IRESS, MOTTAI) and news sources (Bloomberg, AAP, ASX Company Reports). ISO 27001:2022 certification (audited annually by GCC) underpins an enterprise security posture, and the Eventus Validus trade surveillance platform monitors over AUD $2 billion in monthly trades.
The business model is multi-stream: transaction fees and brokerage commissions on executed flow, recurring SaaS subscriptions for the Wealth Management platform, API access and tiered licensing for enterprise/institutional clients, and licensing of the real-time margin and derivatives pricing engine. Go-to-market is dual — direct enterprise sales targeting dealer groups and wealth managers, and API self-service for fintechs via a UAT sandbox. The company is currently pursuing a Nasdaq listing through a business combination with SPAC Lake Superior Acquisition Corp. at an estimated USD $300 million enterprise value, and has launched a Crypto API to extend its addressable market into digital assets.
Openmarkets firmographics
Firmographics- Name
- Openmarkets
- Legal name
- Openmarkets Australia Limited
- Website
- https://openmarkets.com.au
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Openmarkets is an Australian B2B wholesale broker and wealthtech platform providing execution, clearing, settlement, custody, and API-first technology to fintechs, financial advisers, professional traders, and wealth managers under AFSL 246705.
- Ownership category
- akta.pro rank
Openmarkets industry classification
Industry- Product category
- Trading Platform Technology
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (52321)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)
- akta.pro secondary industries
- Open Finance Expansion (investments, pensions, insurance, utilities data) (FSAGACAK), Auction & Primary Issuance Platforms (IPO/Follow-on/Bond Auctions) (FSAFANAI)
Keywords
Where Openmarkets is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Openmarkets business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Brokerage Services: Execution, clearing and settlement services for Australian and international equity markets. Revenue generated from transaction fees and brokerage commissions on trades executed through the platform.
- Wealth Management SaaS: Subscription-based Software-as-a-Service providing data and operations management for wealth management. Targets financial advisers, dealer groups, and wealth management firms.
- Enterprise APIs: API access fees for trading, market data, news, and back-office functionality. Supports fintech integration with tiered API access.
- Portfolio Administration Services: Mailhouse, tax engine, and performance reporting solutions for advisers managing client portfolios.
- Risk Management Platform: Real-time margin and derivatives pricing engine licensing for retail derivatives providers.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Openmarkets product offering
Product offeringCore offering
Openmarkets is a B2B wholesale broker and wealthtech platform providing execution, clearing, settlement, and custody services alongside an integrated suite of technology solutions. It offers FIX and REST APIs, a white-label Trading Terminal, Wealth Management SaaS, a real-time derivatives risk engine, Managed Accounts with automated rebalancing, and Portfolio Administration Services for advisers. It serves fintechs, financial advisers, dealer groups, wealth managers, stockbrokers, and high-volume professional traders as a full ASX, Cboe Australia, and NSX market participant with its own clearing and settlement capabilities.
Product overview
Openmarkets is a B2B wholesale broker and wealthtech platform providing an integrated suite of trading, clearing, settlement, and technology solutions. The platform architecture comprises a core brokerage infrastructure (Brokerage Services, Order Manager, Risk Management) powering execution and compliance, overlaid with wealth management capabilities (Wealth Management SaaS, Managed Accounts, Portfolio Admin). Enterprise APIs provide low-latency FIX/REST access for fintech integration, while Private Wealth CAR enables advisers to operate under Openmarkets' AFSL. The platform connects to ASX, Cboe Australia, and NSX, supporting over AUD $2 billion in monthly trades.
Differentiator
Problem solved
Functional benefit
Products and services
- Brokerage Services Execution, clearing, and settlement services providing a secure, fast, and reliable connection to Australian and international equity markets. Offered as a full market participant with ASX, Cboe Australia, and NSX, plus ASX Clear and Settlement Participant status, targeting financial technology providers, advice professionals, dealer groups, and stockbrokers.
- Order Manager (Trading Terminal) White-label adviser trading platform for managing equity orders and client access across Australian markets. Customisable with client branding including logos, color schemes, and client-facing interfaces, targeted at financial advisers and professional traders.
- Wealth Management SaaS Subscription-based data and operations management platform that addresses data complexity and operational inefficiency for financial advisers, dealer groups, and wealth management firms, enabling personalised wealth management at scale.
- Enterprise APIs Direct market access through low latency FIX or REST open APIs for fintechs and institutional brokers. Includes Account Opening, Account Management, Order Management, Market Data, News, Back Office Data, Contract Notes, and Portfolio Updates APIs, with OAuth2 authentication and a UAT sandbox environment.
- Risk Management Real-time margin and derivatives pricing engine for retail derivatives in the Australian market. Provides options risk management as a platform for retail derivatives providers.
- Private Wealth CAR AFSL (Australian Financial Services Licence), technology resources, and services for Advice Professionals operating as Corporate Authorised Representatives. Provides regulatory coverage and infrastructure for advice practices.
- Managed Accounts Automated, rapid rebalancing technology using personalised or model portfolios, backed by comprehensive compliance features and robust reporting for advisers and wealth management firms.
- Portfolio Admin Portfolio Administration Services providing mailhouse, tax engine, and performance reporting solutions to help advisers effectively manage client portfolios.
- Equity Capital Markets Offers Access to exclusive capital markets deals through Openmarkets' broker network, providing deal flow to clients.
- Crypto API Cryptocurrency trading API enabling access to crypto markets. Requires crypto-trading scope authentication and integrates with the broader Openmarkets API suite.
Quantifiable outcome
- $1 billion AUD in funds invested by Pearler customers
- +1 more outcomes
Companies that use Openmarkets
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Openmarkets technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature7 records
Openmarkets partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- EventuscoreOpenmarkets Group adopted Eventus' Validus trade surveillance platform to enhance compliance infrastructure. The platform monitors over AUD $2 billion in trades monthly, improving automation, customization, and alert accuracy. This supports Openmarkets' international growth plans and expansion of wealth and trading capabilities across multiple regions.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Openmarkets competitors and assessment
Company assessmentBroad incumbents
- IRESS: Australian-headquartered trading, market data and wealth infrastructure provider. Openmarkets offers IRESS as a third-party trading platform option to its professional trader clients and competes against it for adviser and broker technology spend.
- FNZ: Global B2B wealth platform that combines custody, technology and execution services for advisers and wealth managers. FNZ operates at greater scale and geographic breadth but addresses the same adviser-platform outsourcing use case as Openmarkets' Wealth Management SaaS.
- Interactive Brokers: Global retail and institutional brokerage with API access for fintechs and advisers. Competes with Openmarkets on international equities execution and is a reference point for the API-driven brokerage model Openmarkets uses.
- SS&C Advent: Global financial services technology suite covering order management, portfolio management and operations for asset managers and broker-dealers. Comparable to Openmarkets' Order Manager and back-office stack for institutional and adviser use cases.
Direct peers
- Hub24: Australian wealth management platform offering managed accounts, portfolio administration and trading infrastructure to advisers. Directly overlaps with Openmarkets' Managed Accounts, Portfolio Admin and Wealth Management SaaS offerings for the Australian adviser market.
- Netwealth: Australian platform provider for advisers and wealth managers with managed accounts, superannuation, trading and reporting. Competes with Openmarkets for adviser wallet share and platform administration mandates in the same Australian segment.
- Praemium: Australian portfolio management and managed accounts technology provider. Openmarkets integrates with Praemium via its portfolio datafeed and both serve the same adviser segment with overlapping portfolio administration and reporting functionality.
- GBST: Wealth management technology provider for brokers, advisers and platforms with execution, custody and back-office capabilities. Highly comparable to Openmarkets' brokerage and wealth infrastructure stack, particularly for broker-dealer clients.
Emerging players
- BGL Corporate Solutions: Australian SMSF, investment and portfolio administration software provider integrated with Openmarkets via portfolio datafeed. Comparable as an adjacent platform serving advisers and SMSF trustees with similar data and reporting needs.
Regional players
- Stake: Australia-focused retail and adviser-facing brokerage with low-cost execution and platform integrations. Comparable as a younger Australian broker targeting similar fintech and adviser segments via modern technology.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Openmarkets social profiles
Digital presenceOpenmarkets compliance and trust
Trust signalCompliance2 records
Openmarkets financial estimates
Financial estimateRevenue estimate
Valuation estimate
Openmarkets leadership team
Management profileNumber of profiles
Profiles1 record
Openmarkets funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Openmarkets M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Openmarkets
What does Openmarkets do?
Openmarkets is a B2B wholesale broker and wealthtech platform providing execution, clearing, settlement, and custody services alongside an integrated suite of technology solutions. It offers FIX and REST APIs, a white-label Trading Terminal, Wealth Management SaaS, a real-time derivatives risk engine, Managed Accounts with automated rebalancing, and Portfolio Administration Services for advisers. It serves fintechs, financial advisers, dealer groups, wealth managers, stockbrokers, and high-volume professional traders as a full ASX, Cboe Australia, and NSX market participant with its own clearing and settlement capabilities.
Is Openmarkets a public or private company?
Openmarkets is a private company. It is classified as unknown and is currently operating.
When was Openmarkets founded?
Openmarkets was founded in 2012. It employs 101 to 250 people.
Where is Openmarkets based?
Openmarkets is headquartered in Sydney, Australia, in the Oceania region.
How does Openmarkets make money?
Five revenue lines are on record. Brokerage Services are the primary driver. The others are wealth Management SaaS, enterprise APIs, portfolio Administration Services and risk Management Platform.
Who are Openmarkets's main competitors?
Broad incumbents on record are IRESS, FNZ, Interactive Brokers and SS&C Advent. Direct peers are Hub24, Netwealth, Praemium and GBST. BGL Corporate Solutions is listed as an emerging player. Stake is listed as a regional player.
Does Openmarkets have an API?
Yes. Openmarkets provides REST and streaming APIs enabling fintechs and institutional brokers to access trading and market data. Available APIs include: Account Opening API (accounts-submissions scope), Account Management API (accounts-read, accounts-manage scopes), Back Office Data API (back-office-api scope), Market Data REST and Streaming APIs (market-data-api, md-streams-api scopes), News API (news-api scope), Order Management System REST and Streaming APIs (oms-api, oms-streams-api scopes), Contract Notes API, Portfolio Updates API (back-office-api scope), Order Advice API (advice-read scope), and Crypto API (crypto-trading scope). Authentication uses OAuth2 Client Credentials Grant with Basic Auth. A UAT/sandbox environment is supported for all APIs. Rate limits apply (detailed in API FAQs). The platform supports complex order types including stop-loss and one-cancels-another orders. Developer documentation is at dev.openmarkets.com.au.
What industry is Openmarkets in?
Openmarkets's product category is Trading Platform Technology. Its primary akta.pro industry code is FSAFANAA, Equities Trade Execution Platforms (ATS/MTF/ECN), with a secondary code of FSAGACAK, Open Finance Expansion (investments, pensions, insurance, utilities data). Its NAICS code is 5231 and its SIC code is 6211.