Interchange - Financial infrastructure for the intelligence era

Financial infrastructure
for the intelligence era.API-first, AI-native platform powering the next generation of trading, investing, and wealth management products.

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Documentation

Interchange Clearing LLC, Member SIPC

IndividualLPM

Anita Appel304 SE 28th Ave, Portland, OR 97214

Created2026-08-17 at 1:18pm PST

Check Result2026-08-17 at 1:20pm PST

Checks Passed2026-08-17 at 1:20pm PST

$5,000.00

ACH Pull

Submitted2026-08-18 at 10:05am PST

Checks Passed2026-08-18 at 10:06am PST

Approved2026-08-18 at 10:06am PST

AAPL

0.5Quantity

$103.21

Total Amount

Route Books2026-08-20 at 9:32am PST

Fill2026-08-20 at 9:33am PST

Done2026-08-20 at 9:33am PST

APIs & Middleware

Execution & Order ManagementExecution & Orders

Clearing & Custody

Batch Processing Service BureauBatch Processing Bureau

Financial Markets

Legacy Stack

Modern API-First, Full-Stack PlatformModern API-First Platform

Financial Markets

Interchange Platform

Vertically-integrated platform, built from the ground up.Interchange is an event-driven execution, clearing, and custody platform with direct connectivity to U.S. financial markets — purpose-built for powering the next generation of securities-based products for introducing broker-dealers, investment advisors, banks, trust companies and fintechs.

Verified SOC 2 Type II compliant

Real-Time

Positions, balances, and ledger state are live — no overnight batch, no reconciliation

Vertically-Integrated

Execution, clearing, custody, and much more, on one platform — no cross-vendor reconciliation

API-First

Every capability available through the API — build any customer experience on top

Products

Equities

U.S. listed equities trading, directly connected to the bare-metal of the industry: DTC, NSCC, Nasdaq, FINRA and others.

Whole & fractional shares
Notional & quantity-based orders
Real-time positions
Cost basis & tax lot tracking
Branded statements, confirmations, and IRS tax forms
Pre-market, post-market, and regular hours trading

Screenshot of a table containing orders in the Interchange platform

Screenshot of an order being submitted in the Interchange platform

Money Market Funds

Automatically sweep uninvested cash into money market funds, or purchase and redeem on demand. Both stable and floating NAV funds are supported, with 7-day yield and daily dividend accrual tracked per position. Visibility into accrued dividend income, and automated dividend reinvestment is available for those on our fully-disclosed model. J.P. Morgan Logo

Screenshot of a table containing money market sweep activity

Tax Advantaged AccountsNew

State-chartered, Washington DFI-approved Interchange Trust Company enables brokerage account types like IRAs, Roth IRAs, HSAs, Rollover Trump Accounts and more. Washington DFI Logo

Screenshot of a ribbon showcasing Interchange's Washington DFI chartered trust company

Mutual FundsComing Soon

Mutual fund trading, settlement, and dividends — connected to NSCC's Omni/SERV platform through a private network with direct relationships with fund families. Orders, fund data, and dividends run on the same real-time infrastructure as equities and other products.

Screenshot of a table containing mutual fund orders in the Interchange platform

Platform Capabilities

Your ApplicationInterchangeFinancial Markets

Web • Mobile • BackendExecution • Clearing •
Custody and moreNasdaq • NSCC • DTCDirectly connected to NSCC for clearing and DTC for settlement and custody through private network infrastructure. Positions and customer segregation are sourced directly from DTC, keeping Interchange's ledger reconciled against the depository itself.

eventsprofile created

Screening

CIP OFAC, FinCEN

Account Info

CAIS

Reporting

CAT, Blue Sheet, SEC 606, TRF

Compliance and trade reporting are built directly into the platform — from account screening through execution and regulatory reporting. One event stream, one system of record, no need for external vendors, no reconciliation between systems.

Market, limit, notional, and fractional orders through one API, with real-time cost basis tracking and lot selection for tax-loss harvesting. Execute and allocate equity orders across thousands of accounts with batch orders.

Cash management and money movement run on an event-driven ledger, with every deposit, withdrawal, hold, and sweep reflected in real time. Idle cash sweeps automatically as balances change, not on an overnight schedule.

Everything needed to operate and scale a brokerage program, built into the same platform that executes, clears, and custodies every trade. Manage program controls, users and permissions, billing, account transfers, special purpose accounts, and much more from the Interchange Portal.

How it works

Your ApplicationWeb · Mobile · Backend

Interchange Platform

Clearing & Custody

Compliance & Trade Reporting

Order Management & Execution

Cash Management & Money Movement

Back-Office Operations

MarketsNasdaq · NSCC · DTC

Animation with stacked boxes and moving lines

Connect & ConfigureRequest access, invite your team, create an API key, and configure your program.

Build & TestCreate and fund test accounts, build against the API, and validate your end-to-end workflows.

Launch & OperateComplete implementation with Interchange, prepare for launch, and manage your live program.

Solutions

Who We Serve

Full-service correspondent clearing and custody infrastructure, built for modern broker-dealers. Interchange handles execution, clearing, settlement, and custody while you own the customer relationship and brokerage experience.

Built-in reporting
Real-time events
Branded documents

3 Ways to Clear & Custody with Interchange

Direct

Fully-Disclosed

Omnibus

One platform for taxable and tax-advantaged investing, powered by Interchange Clearing and Interchange Trust Company. Execution, clearing, custody, tax lots, and retirement accounts run on the same infrastructure, without stitching together separate brokerage and IRA custodians.

Trust charter
Tax lots tracked
Idle cash earns yield
Onboarding & screening built in

Extend banking and trust relationships into brokerage and investing on a single integrated platform. Offer equities, funds, managed investing, and tax-advantaged accounts with Interchange providing the execution, clearing, settlement, custody, and brokerage infrastructure underneath.

Yield-bearing sweeps
Your charter or ours
Branded documents

Embed investing and yield-bearing cash products directly into your customer experience. Interchange provides the regulated broker-dealer or RIA, execution, clearing, custody, and cash management infrastructure underneath, while you own the customer relationship and brand.

One event-driven API
Fractional by default
Compliance built in

Developers

GuidesRead our developer and product guides

Authentication Events Registration Funding & Money Movement Portfolio Management Orders & Trading

Get Started

Start building in sandboxProvision a sandbox program, authenticate with your program ID and API key, and execute your first simulated trade — no clearing agreement required to get started.

Request Access

API ReferenceStart building in the sandbox today

Developer DashboardManage API Keys & Webhooks

MCP ServerConnect AI agents directly to Interchange

Recent News

Interchange Advisers LLC now an SEC-Registered Investment Adviser

On behalf of the Interchange team, I'm excited to announce the newest member of the Interchange family: Interchange Advisers LLC — an investment adviser registered with the U.S. Securities and Exchange Commission (SEC), effective August 14, 2026.

Interchange Trust Company Approved by Washington DFI

On behalf of the Interchange team, I'm excited to announce the newest member of the Interchange family: Interchange Trust Company LLC — a Washington state-chartered trust company, with our charter effective July 16, 2026. A trust charter isn't a product, and this isn't a product announcement. It's something more foundational.

Introducing Interchange Equities

On behalf of the Interchange team, I’m excited to announce our latest product: Interchange Equities. Equities is a vertically integrated equities execution, clearing, and custody platform — built from the ground up for broker-dealers, investment advisers and other financial institutions to build securities-based products on a real-time system of record.