Nasdaq proposes exclusive exchange trading for illiquid stocks

Nasdaq | February 05, 2020

Nasdaq Inc (NDAQ.O) asked regulators on Wednesday to allow issuers of thinly-traded stocks listed on its exchange to trade almost exclusively on Nasdaq, as part of a broader plan to boost trading in small- and mid-sized companies. There are 13 U.S. stock exchanges, with at least two more preparing to launch, and a company’s shares can be traded on any of them, regardless of whether they are listed on the Intercontinental Exchange Inc’s (ICE.N) New York Stock Exchange, or Nasdaq. The U.S. Securities and Exchange Commission asked the exchanges in October to bring it proposals aimed at making thinly-traded securities, which Nasdaq defined as trading less than 100,000 shares a day, on average, for six consecutive months, easier to trade.

Spotlight

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Spotlight

Owning a car is not cheap! You not only have to buy the car but then there’s also tax, car insurance and not to mention filling the tank with petrol every week. Insurance can take a big chunk out of anyone’s budget so AIG has created an infographic to help you get cheaper car insurance. So think slow, drive less, stay on the right side of the law, price your car accurately and gain experience to move towards gaining cheaper car insurance.

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FINANCIAL MANAGEMENT

Movement Mortgage Partners with Figure to Offer Improved HELOC Delivery

Figure and Movement Mortgage | November 09, 2022

Figure, the country's top non-bank HELOC lender, and Movement Mortgage, the nation's sixth-largest retail mortgage lender, announced a transformative partnership that will allow Movement's borrowers faster access to home equity with approval in as few as five minutes and funding in as few as five days. Movement will leverage Figure's platform amid a steady rise in mortgage interest rates and record tappable equity for homeowners. Consumers have shied away from taking out new mortgages and instead are seeking to tap into their existing home equity to complete renovations, consolidate debt, or generate extra cash flow while preserving their low mortgage interest rate. The partnership is designed to help Movement Mortgage borrowers access that value quickly and simply through Figure's end-to-end digital platform. "Movement Mortgage is delivering enhanced financial access to their consumers as interest rates steadily rise, We are thrilled to partner with them as they continue to act as industry disruptors and implement processes that benefit their consumers. HELOCs may be significantly less expensive compared to other products, and consumers are seeking better avenues to access the equity in their homes." -Dan Wallace, General Manager of Figure Lending We are thrilled to partner with Figure to provide our borrowers with easy access to the equity they've built, Figure's seamless user experience, commitment to quality, and superior customer service align with Movement's values and business goals. We look forward to working with Figure to help our borrowers reach their goals,said Caroline Payne, Movement's SVP of capital markets. Figure's HELOC for Lending Partners provides a turnkey solution for lenders across the country. The speedy underwriting process provides a secure, transparent, and fast experience — eliminating friction points and costs common to traditional home equity lending. Partners can offer their customers a fast and easy way to tap home equity with a 100% online application process and funding in as few as five days. Movement Mortgage and Figure will leverage Provenance Blockchain to record and store the lending asset. Provenance Blockchain is the leading public blockchain in financial services leveraged by more than 50 financial institutions and has supported over $10 billion in transactions. About Movement Mortgage Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture, and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 650 branches in the U.S., and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement's profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities, and global outreach. About Figure Figure is transforming financial services through blockchain, bringing speed and efficiency to both consumers and institutions. Figure continues to unveil a series of fintech firsts across the capital markets, investment management, and banking and payments sectors. Figure and its subsidiaries leverage Provenance Blockchain for loan origination, servicing, financing, and now private fund services. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion-dollar business under his leadership as CEO. About Provenance Blockchain Foundation Provenance Blockchain is built specifically for the financial services ecosystem. Leading financial institutions and fintechs leverage Provenance Blockchain to enable the entire digital asset lifecycle to deliver material business and customer value. Provenance Blockchain is successfully transforming lending, securitization, payments and exchanges, and has supported over $10 billion in transactions. Provenance Blockchain's native utility token, HASH, is used to pay transaction fees and enable governance.

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FINTECH

Aquila broadens global fintech reach through acquisition of Cibar

Aquila | September 12, 2022

Aquila today announced the acquisition of Cibar Inc. (Cibar), best-in-class banking software solution for the international trade finance industry. Founded in 1969 and headquartered in Colorado Springs, USA, Cibar has been a pioneer and specialized provider of trade finance applications with modules extending across Imports/Exports, Standby Letter of Credit, Guarantees, Cash Letters, Wire Transfers and more. Through its marquee products “GTSnet” trade finance system, “ICCnet” customer portal and “CASHnet” cash letter system, Cibar provides one of the most comprehensive back-office solution that meets the needs of large and middle-market trade finance banks and their clients. “We’re grateful for this union with Cibar, Aquila is delighted to uphold and accelerate Cibar’s long-standing mission. Cibar has an incredibly customer-focused team and a wonderful brand in the trade finance marketplace. They are an important addition to Aquila’s group of independent fintech businesses.” -Daniel Lee, CEO of Aquila Nick Mayer, President of Cibar said, Cibar is very excited to join the Aquila team. In our 53 years in business we never really considered selling the company until we were introduced to Daniel Lee and his team at Aquila. As we went through a detailed due diligence process, it became apparent that Aquila's vision aligned with Cibar's. We feel this will be a great partnership for our employees and customers moving forward. Cibar will continue to support its customers and partners as an autonomous business unit of Aquila. About Cibar Cibar is a software development company located in Colorado Springs, USA. Started in 1969 by Tom Lawhorn, John Zimmermann and Loren Shannon, integrity, hard work and commitment to our customers are the values Cibar prides itself on daily. Cibar has a broad range of experience in developing software applications for international banking customers, including; Commercial and Standby Letters of Credit, Bankers' Acceptances, Documentary Collections, Foreign Loans, Cash Letters, International Wires, Imaging, OFAC and AML checking. About Aquila Aquila backs category leaders across software. With global institutional reach throughout media, finance, government, real estate and education, Aquila exists to help software operators build lasting companies through permanent capital. Aquila is a division within Vela Software, and a wholly owned subsidiary of Constellation Software Inc.

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FINANCIAL MANAGEMENT, PAYMENTS

Priority Partners with Valor PayTech for Omnichannel Solutions

Priority Technology Holdings and Valor PayTech | October 14, 2022

Priority Technology Holdings, Inc. ("Priority"), a leading payments technology company helping customers collect, store and send money, today announced it has partnered with Valor PayTech for omnichannel solutions. Valor’s integration with Priority’s MX™ Merchant ecosystem is currently underway. Valor is a fast-growing fintech provider of cloud-based, end-to-end, processor-agnostic omnichannel payments solutions. The company provides resellers and their merchant customers with comprehensive, cutting-edge tools and the flexibility they need to succeed in today’s rapidly changing business environment while creating revolutionary value. “We are excited to partner with Valor to deliver next-generation solutions to Priority resellers and their merchants, Working with Valor has been refreshing,” added Grebe. “They’re not just focused on their technology; they’ve been instrumental in helping us solve pressing business problems.” -John Grebe, VP of Product Strategy for Priority Priority and Valor are creating an extensive roadmap for third-party software integrations. Valor Connect cloud-based integration requires little-to-no effort for independent software vendors (ISVs) and their customers to add Valor payment terminals with the click of a button, providing a cohesive infrastructure with comprehensive access and visibility into consolidated transactional data. We are very excited to become a major technology and business partner for Priority, their resellers and their merchant customers, Significant synergies between the two companies have already resulted in the development of incredibly creative solutions that give Priority resellers more opportunity to close more sales and earn substantially more, said Valor COO Eric Bernstein. About Priority Technology Holdings, Inc. Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value, payments products bolstered by our industry-leading personalized support. About Valor PayTech Valor PayTech is a fast-growing fintech provider of end-to-end, processor-agnostic omnichannel payments solutions. The company equips both merchants and reseller partners with comprehensive, cutting-edge tools and flexibility to succeed in today’s rapidly changing business environment. Experience the future of payments.

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