NASDAQ’s Exchange Is Backdated and Obsolete: PayBito Chief Raj Chowdhury
Criticism has been levied against NASDAQ’s exchange broker model by PayBito CEO Raj Chowdhury. He has drawn attention to the shortcomings of the platform and called for innovation. Chowdhury suggests that his company’s Brokerage as a Service (BaaS) product provides a customizable, accessible, and affordable alternative to the outdated NASDAQ model.
Backdated Brokerage Model Architecture
According to Chowdhury, NASDAQ’s platform is cumbersome and expensive, making it difficult for new entrants to enlist. It also fails to incorporate cloud and other technological advancements, which creates a regressive environment that inhibits financial democratization. Furthermore, NASDAQ’s membership is exclusive to large financial institutions, preventing the establishment of individual brokerage businesses.
CEO Speak
Chowdhury states, “Financial inclusion is possible only through the democratization of trading access. Change is inevitable, and brokerage is next.”
The PayBito chief proposes that brokerage solutions need to be redesigned to address these challenges. He believes that technology-driven platforms can overcome current drawbacks and provide an unparalleled user experience. These platforms should prioritize financial inclusion, cloud integration, affordability, scalability, and white-label solutions.
PayBito Broker Platform: Cloud-powered BaaS
PayBito’s BaaS platform is an example of such a platform that offers an accessible and affordable alternative to NASDAQ. Retail brokers can register within just three minutes and pay a monthly subscription fee of $49.99. Advanced trading options, including high-frequency algo trading, are also available.
In addition, PayBito supports white-label solutions that enable businesses to establish their own brand. Furthermore, intermediaries can contribute to social causes and earn a higher commission through the Brokering World Hunger Away campaign. The exchange matches the brokerage commission and uses the funds to feed starving children globally, creating a sustainable and socially responsible business model.
Wrapping Up
Chowdhury believes that democratizing brokerage access for everyone is the next step in disrupting the brokerage model. By promoting social contribution and technological innovations, platforms can foster economic stability through equal opportunity. This will lead the way toward a more equitable and sustainable future.
