Acuity Stockbrokers first to cloud

Friday, 17 November 2023 01:52 - - {{hitsCtrl.values.hits}}

Acuity Stockbrokers, in partnership with IronOne Technologies, in what is considered a first in the industry, has moved its order management system to Amazon Web Services.

AWS is the cloud-based service of internet giant Amazon.com.

Acuity Stockbrokers CEO Prashan Fernando said: “Acuity Stockbroker’s (ASB) collaboration with IronOne Technologies marks a significant leap forward in enhancing our technological capabilities. We are dedicated to providing a superior service to our clients by harnessing the power of the cloud. With this move, the clients of ASB will migrate to IronOne’s trading platform ATrad and, therefore, will experience faster information and execution speed, while increasing client security and data protection capabilities.”

IronOne Technologies (IOT) Founder and Executive Director Lakmini Wijesundera said: “We are pleased to partner with Acuity Stockbrokers in this pioneering venture. This collaboration is poised to redefine the Stockbroking landscape in Sri Lanka, combining Acuity’s industry expertise with IronOne’s cutting-edge technology. With regulated stock borrowing and lending and covered short selling now being possible, speed and security are foremost in the minds of clients. Hence the move to the cloud by ASB is a leap forward for the industry as a whole with many more to follow.”

The ATrad trading platform has a market share of 90% of the online trading platforms used by participants in the Colombo Stock Exchange.

Acuity Stockbrokers is a member of the Colombo Stock Exchange and is a wholly owned subsidiary of Acuity Partners Group.