AtlasClear adds third broker-dealer client, signs fourth agreement

AtlasClear Holdings (NYSE American: ATCH) announced that a third introducing broker-dealer has begun onboarding with Wilson-Davis & Co., the company's self-clearing correspondent broker-dealer subsidiary. The company also executed a correspondent clearing agreement with a fourth introducing broker-dealer.

The developments follow the integration of Dawson James Securities, the first correspondent onboarded to Wilson-Davis's clearing platform. AtlasClear stated that infrastructure improvements completed during that process have shortened onboarding timelines and expanded multi-client capacity.

Wilson-Davis has added operations staff in response to current client activity and pipeline demand, according to the company's statement.

"Dawson James was the proof point," said Craig Ridenhour, President of AtlasClear. "We built the infrastructure with the next client in mind. What that work produced is a faster, more efficient onboarding process, and the staffing additions at Wilson-Davis reflect both the business in front of us and our commitment to servicing each correspondent at the same standard."

John Schaible, Executive Chairman of AtlasClear, stated that the clearing infrastructure is designed to scale, with each new correspondent relationship adding revenue without meaningfully increasing the fixed cost base.

AtlasClear continues discussions with additional broker-dealer partners as it scales its correspondent clearing network through Wilson-Davis. The company builds technology-enabled financial services platforms for emerging financial institutions and fintechs through Wilson-Davis and its pending acquisition of Commercial Bancorp of Wyoming.

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