Omnibus Trading

To establish an Omnibus setup with DriveWealth, partners are responsible for managing the technical integration and the entire customer-facing brokerage experience. Under this model, DriveWealth provides the underlying brokerage infrastructure, while the Partner holds ALL of the operational responsibility for the end-user relationship.

Partner-Specific Responsibilities

Customer Onboarding & KYC: Partners must independently handle all identity verification and regulatory onboarding for their users.
Customer Financials: Partners are solely responsible for maintaining individual customer buying power and managing all user-level deposits, withdrawals, and reconciliations.
Live Market Data: DriveWealth does not provide real-time quotes for Omnibus setups. Partners must source their own market data from a third-party vendor.
Reporting & Communications: All customer-level reporting including performance data, transaction history, trade confirmations, monthly statements, and tax documents, must be generated and provided by the Partner.
Corporate Actions: The Partner is responsible for the handling and processing of all customer-level corporate actions.

Shared Technical Integration

Generate an Authentication Token: Securely authorize your client app to make requests on behalf of users via DriveWealth's API.
Build Instrument and Charting Data: Develop the user interface for your Security Master and charts using DriveWealth’s instrument and bar data.
Fund the Omni Account: Maintain the master account balance via pre-funding or using Cashless reconciliation to settle trades on T+1.
Make a Trade: Execute buy and sell orders via the DriveWealth Orders API.

Core API Workflows

The following section outlines the essential API interactions required to manage your Omnibus account. These workflows provide the programmatic foundation for authorizing your application, managing funding flows, executing trades, and retrieving the necessary data to power your user interface.

Authentication

To generate a token, invoke the Create Session Tokens API

Security Master

Partner can fetch instrument details and charting data directly from DriveWealth's Instrument Details and Charting Data endpoints.

Funding

Funding in an Omnibus setup can follow either of the 2 methods:

Prefunding: Partners are provided with wire details to fund the master Omnibus account. Events: A deposits.updated event is triggered when funds arrive in the account.

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NOTE: Under the Pre-funding model, Partners must track and replenish Omni buying power; if the balance is insufficient, underlying customer trades will be REJECTED.

Cashless Reconciliation: Instead of pre-funding the Omnibus account, Partners can choose to settle trades on a T+1 basis. For more information refer: Cash Reconciliations

Trading

Use Create Orders API to place orders.

POST /orders
{
  "orderType": "MARKET",
  "side": "BUY",
  "accountNo": "CSSW000001",
  "symbol": "MS",
  "clientID": "1abc234xyz789"
}

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Trader ID requirement
For Omnibus account orders, it is required to pass in the clientID field for every order. This will be UUID of the client in the Partner's system