February 2024 Summaries

Alpaca has introduced support for limit orders and extended hours trading for fractional shares, allowing investors to trade in stocks that may have been out of reach otherwise. This feature is powered by Alpaca's custom-built Order Management System (OMS), designed for ultra-low latency and scale. The new capabilities enable traders to manage risks in the fast-moving market using advanced trading strategies for better risk management. With pre-market and post-market support, investors can now trade fractional shares during extended hours, giving them more opportunities to participate in global markets. Alpaca's commitment to simplicity and ease of use is evident, as the new features are seamlessly integrated into the existing API. The introduction of these new features positions Alpaca at the forefront of the retail trading sector, setting it apart from other brokerage firms that do not offer extensive fractional trading options.

Elphinstone is a Pakistani financial technology company that aims to simplify investing for its growing middle class population by offering a platform to invest in US stocks and ETFs with Shariah-compliant options. Founded in 2020, Elphinstone's CEO Farooq Tirmizi was inspired by the contrast between accessible investment products in the US and challenges faced by Pakistanis. The company has partnered with Alpaca, a developer-first API brokerage platform, to offer its services, providing advised portfolios, self-directed investing, and seamless funding and withdrawal options for users. Through this partnership, Elphinstone has achieved significant success, including executing 6-figure trades instantly and decreasing customer acquisition costs, while maintaining the reliability of the Broker API. The collaboration between Elphinstone and Alpaca exemplifies how innovative fintech solutions can bridge gaps in traditional financial systems, offering accessibility and long-term value to Pakistani investors.