Financial services have been an early pillar of tech development, with electronic trading pioneers setting the pace early on. The steady growth of e-trading continues to break down barriers for investors of every stripe, who benefit from the reduced cost of transactions, increased liquidity and elevated transparency that comes with online trading. New York City-based TradeIt has been breaking brokerage boundaries of its own since 2014. Founded by a savvy trio of financial technology experts, TradeIt is a fast-growing provider of secure APIs and a cloud platform for retail investing. Using their technology developers, publishers, and ETF (exchange-traded fund) companies can integrate any major US retail broker’s functionality into the app, site or platform of their choice. The hard work of its founders has found a big audience: TradeIt is already available on over 80 mobile apps, websites and social media channels including StockTracker, Motley Fool, and Bloomberg.
The TradeIt offices are on a bustling street in SoHo, bordering on NYC’s equally energetic Chinatown neighborhood. That’s where co-founder/CTO Serge Kreiker oversees a staff of 12 and growing, all of whom appreciate the desirable location.
“It’s nice to be in SoHo –many startups are moving downtown into this area,” Kreiker says. “Our address helps with retaining talent: If you tell people that you’re based in SoHo, they get interested.”
SoHo may be attractive, but its famed cobblestone streets and aging telecommunications infrastructure aren’t friendly to laying down fiber, making it one of NYC’s hardest neighborhoods to get high-speed Internet. Kreiker found that out firsthand when he launched his previous venture, the online brokerage Kapitall, from the same location and realized there was a severe lack of sufficient bandwidth for businesses.
With insufficient speed available from the dominant telcos, Kreiker found a fast and reliable solution in Rainbow Broadband. In business for over a decade, Rainbow Broadband now stands as one of New York City's largest and most experienced high-speed Internet providers. With its ability to establish a fast, reliable dedicated bandwidth Internet connection – up to 10 Gbps symmetrical -- in days or weeks, instead of months, Rainbow Broadband moves at the speed of NYC.
When Kreiker and his partners took over the space in 2014 to launch TradeIt, they retained their Rainbow Broadband connection for its proven top speed and dependability. “We are a tech company and we are heavy Internet users,” Kreiker explains. “We regularly upload and download very large files, plus test new products from remote servers, and it’s essential for us to do that easily. We also have a lot of people using the Internet at the same time, so we need to make sure that it doesn’t get congested. With Rainbow, we always have the bandwidth we need.”
More with Managed Services
TradeIt is also on top of eTrading with Rainbow Broadband's managed services, engaging them to set up and maintain their office network. Their firewalls, routers, and Wi-Fi are all fully supported by Rainbow Broadband's highly experienced engineers, who can not only custom-design an optimized network but also monitor it, identifying and fixing problems before they happen.
“Rainbow Broadband set up all the software and they manage the hardware,” says Kreiker. “That’s convenient for us. As a startup, we only want to hire people that are key to our business – API developers, engineers, sales – we don’t want to have to hire IT people or accountants. Rainbow Broadband’s managed services allow us to outsource Internet management.
“If we need support, it’s nice to have Rainbow because we have a dedicated salesperson that we can call directly. The customer service and their proximity really make a difference – when you need someone they can send them right away.”
As TradeIt continues to grow staff and expand its offerings, Kreiker and his colleagues know they must continue to choose business tools wisely when it comes to high-speed Internet and beyond.
“Fintech, or financial technology, is a very hot sector now,” Kreiker confirms. “There are a lot of exciting things we can do in brokerage investing, and very few people are innovating in that area. It feels great to be bridging the gap between the broker and the media partners, finding new ways for people to grow their portfolio and trade online.
“If we’re going to keep improving our products, we don’t have time for an Internet connection that’s unreliable and breaks down. You want to be able to focus on your business, and use the right provider like Rainbow Broadband. They do what they’re good at, so you can do what you’re good at.”