TradeZero USA Completes Acquisition Of Koonce Securities: Game Changer For Client Experience, Clearing Capabilities

TradeZero USA has completed its acquisition of Koonce Securities. Koonce will now clear securities trades for TradeZero’s group of broker-dealers.

Context: Established in 2015, TradeZero and its U.S., Bahamas, and Canadian subsidiaries offer commission-free stock trading and direct market center access for U.S. equities and equity options trading. The firm’s robust short-selling capabilities, extended trading hours, round-the-clock live support, and advanced technology, including a desktop, web, and mobile platform, give traders an institutional-type experience at a low cost.

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“When you have a question, you can pick up the phone, or go on the website, and get answers in a real-time fashion, 24/7,” TradeZero Holding Corporation CEO Dan Pipitone said during a call earlier this year. “Also, you can go long or short at any time from 4 a.m. to 8 p.m., as well as have the flexibility to pick and trade from four different platforms, including our institutional grade ZeroPro, the likes of what you may see at the trading desks of a hedge fund or clearing house.”

Impact: The acquisition of Koonce Securities marks a significant milestone for TradeZero.

"The Koonce acquisition will eventually allow the TradeZero broker-dealers to receive dedicated treatment and service from our in-house clearing team, resulting in a better client experience for end-user TradeZero clients," Pipitone added.

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Photo: TradeZero