What happens after you hit “buy” on that $300 order of Shopify stock (worth over $1,100 as of the day of the episode)?

Fractional trading has become one of the hottest product features in Fintech, democratizing access to expensive shares (AMZN, BRK-A, CMG, etc.) to everyday investors. In addition, they allow more precise and comfortable investing and budgeting, as people can designate a notional dollar amount toward a purchase.

But how exactly do you buy .3 of a share? Enter Apex Clearing, a PEAK6 company, one of the most innovative and digital-first clearing and custody platforms in the world. Apex powers the fractional capabilities of many companies you may use today, including Stash, M1 Finance, broker-dealers, major banks, and RIAs. They also powered Robinhood up until recently.

In today’s episode, Ryan Zauk sits down with Apex’s Chief Product Officer, Dustin Kirkland, to learn about:

- Dustin’s unusual path to FinTech (2:00)

- What Apex does (8:00)

- What is clearing & custody (9:00)

- Clearing & Market Making (11:00)

- The nuts & bolts of Fractional Trading (15:00)

- Crypto trading and how it will disrupt equities (20:18)

- And a rapid-fire round including the best Austin BBQ and some shared love for the Grateful Dead

For more insights and analysis from FinTech leaders, follow us below:

Medium: medium.com/wharton-fintech

WFT Twitter: twitter.com/whartonfintech

Ryan's Twitter: twitter.com/RyanZauk

LinkedIn: www.linkedin.com/company/wharton-fintech-club/

Facebook: www.facebook.com/whartonfintech/

Instagram: www.instagram.com/whartonfintech/

Apex Clearing is a custody and clearing engine that’s powering the future of digital wealth management. Our proprietary enterprise-grade technology delivers speed, efficiency and flexibility to firms ranging from innovative start-ups to blue-chip brands focused on transformation to capture a new generation of investors. We help our clients provide the seamless digital experiences today’s consumers expect with the throughput and scalability needed by fast-growing, high-volume financial services businesses. Founded in 2012, Apex Clearing is registered with the SEC, a member of FINRA and a Participant in SIPC.