GATE Technologies announced the acquisition of an exclusive license to use Transfer Onlines stock transfer and record-keeping software for the trading of alternative and impact investments globally.
This transaction continues GATEs commitment to developing the best end-to-end solution for the electronic trading of these assets, said Vincent Molinari, co-founder and CEO of GATE.
Transfer Online was founded in 1999 as the first online-only stock transfer agent in the United States, and currently provides stock transfer services to approximately 400 companies. In 2001, the company created the first private trading board (PTB) for shareholders of Portland Brewing to trade shares with each other, requiring a no-action letter from the SEC to do so. In 2005, Transfer Online built a PTB for Restricted Class B shareholders of Mastercard, Inc., which preceded Mastercards initial public offering a year later.
The technology is already employed on GATE US, the U.S.-based broker-dealer subsidiary of GATE Technologies. GATE US electronic trading platform, GATE Pro, was launched in November 2010.
As illiquid and alternatives trading becomes more frequent and accessible, our partnership with GATE will enhance the experience for market participants by providing faster and more transparent settlement and clearing processes, said Lori Livingston, founder and CEO of Transfer Online.
Ms. Livingston is also a co-founder of GATE and serves as its Chief Technology Officer. Terms of the private transaction were not disclosed.
D.C.