Douugh Partners with Openmarkets Group to Offer ASX Stock Trading

Douugh, a purpose-led fintech and neobank based in Sydney, has signed a partnership deal with Openmarkets Group (OMG), a provider of technology solutions across wholesale execution, order and risk management, to offer ASX stock trading to Australian customers.

With a minimum term of three years, the partnership will allow Douugh to offer a full suite of integrated trading services on NYSE, ASX and Crypto following the launch of its financial super app in FY 22.

As per the deal, Douugh will utilise Openmarkets' market-leading APIs accessing a single integrated tech stack with APIs and OMG's high support level.

OMG will be responsible for cleaning, settlement services and execution to Douugh's Aussie customers for single stock ASX trading, which will be into Douugh's 'Stocks Jar' feature. On the other hand, Douugh will pay a wholesale fee to OMG for trading ASX equities, options, warrants, and ETFs.

Earlier this year, Douugh has partnered with Zero Hash to integrate cryptocurrency wallet and trading capabilities into the Douugh app. The partnership allows customers to buy, hold and sell crypto in the US directly through Douugh's Crypto Jar feature on the Douugh platform.