RQD Clearing and TradingBlock to Include Full Clearing and Execution for Retail and Active Trading

RQD* Clearing (RQD), a next-generation correspondent clearing provider, has extended its partnership with TradingBlock to include full clearing and execution for the broker-dealer’s active and retail trading lines. 

Since the launch of its clearing business in late 2021, RQD has onboarded a number of broker-dealers – ranging from new entrants to established firms – to its cloud-based clearing platform. RQD and TradingBlock also announced that they are collaborating on development of TradingBlock’s new, leading-edge retail trading platform, intended to launch later this year.   

TradingBlock, a FINRA-registered broker-dealer for retail, prop traders and small hedge funds, was one of RQD’s first clients to go live on its cloud-native clearing platform to support its active trader business. Prior to the launch of RQD’s clearing service, the two tech-forward firms had worked together for five years, with RQD providing advanced options execution for TradingBlock. Now, the two firms have extended their partnership and have been working together on the integration of TradingBlock’s new retail trading platform.

Tom Heffernan

“Launching a new, highly customizable trading platform like ours in a zero-commission environment depends on advanced technology across the full trade lifecycle, from order entry to execution to clearing and settlement,” said Tom Heffernan, Executive Vice President at TradingBlock. “Having worked with the RQD team for years we understood their expertise and knew they would proactively support our efforts as we brought our new platform online.”

The new TradingBlock platform features full flexibility to serve multiple types of traders from a single technology stack. The platform’s flexibility enables users to create custom dashboards, allowing them to engage with the market and trade the way they want. RQD is providing trade execution and clearing for the new platform, including back-end system management to manage onboarding, trading, account updating and more. A preview of the new platform can be found here.

Michael Sanocki

“As long-time partners, RQD is proud to support TradingBlock and its launch of a new, modern trading platform for the retail market,” said Michael Sanocki, CEO of RQD* Clearing. “TradingBlock shares our vision that the most advanced technology is needed to meet the demands of today’s market and support all functions across the trading ecosystem. We look forward to future collaboration with TradingBlock and technology-forward firms on similar missions to evolve and modernize the market.”

Launched in November 2021, RQD offers an advanced suite of clearing, custody and execution solutions for broker-dealers servicing retail, institutional and active traders, as well as foreign financial institutions and proprietary trading firms. The firm offers the industry’s first clearing platform built entirely on cloud-native, real-time technology. The RQD platform supports U.S. equities, options and ETFs, and has three main components – clearing, custody and execution services – all of which are accessible by advanced API.

RQD* Clearing is registered with the SEC, is a member of FINRA, OCC, DTC and NSCC and has exchange memberships at all major U.S. equities and options market centers.

Source: RQD* Clearing