Owner: SogoInvest Stock Trading Blog URL:http://sogoinvestblog.com/ Join Date: Thu, 11 Jan 2007 04:53:57 -0600 Rating:0 Site Description: SogoInvest is a product oriented towards any kind of investor, whether a beginner or an advanced professional. Site statistics:Click here
Crude Cost Cuts 2007-01-09 20:29:27 In recent news, crude oil drops to prices not seen since the summer of 2005, before Hurricane Katrina devastated Gulf Coast oil production. The unusually warm winter the east coast has been experiencing has cut spending on gas for heating. According to Adam Sieminski, chief energy economist at Deutsche Bank AG, "the increasing global demand for oil that became evident in late 2004 and in 2005 is now over". Reduced demand and usage has created a surplus and falling prices. How long will these prices continue to drop?
Crude
Oil Falls to 18 Month Low on Milder Weather, Supply Gain
UBS AG, Swindler of Helpless Old Ladies 2006-12-18 15:01:10 Attorney General Eliot Spitzer and the State of New York filed suit against UBS AG, the largest European bank. Alleged claims linked UBS as having lured brokerage clients into costly and unnecessary accounts, namely, fee-based accounts.
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More and more, brokerage firms are favoring such accounts since, "they produce a more stable stream of revenue than commissions, which can plunge when the markets decline", (Bob Van Voris and Bradley Keoun for Bloomberg.com).
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With the fee-based accounts, clients are charged regardless of how active their account might be. Also according to Van Voris and Keoun, "in the complaint Spitzer claimed UBS charged a 91-year-old woman over $35,000 for making just four trades over two years".
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Read more about the suit at: UBS Sued by Spitzer for Shifting Client Accounts
Read more:Helpless
NYSE, NASD to Form New Regulator for Securities Firms 2006-11-28 19:45:45 According to the NYSE and NASD, this new regulator firm will get costs down by "millions per year". Still unnamed, the agency is expected to be operating for the second quarter of 2007 with NASD Chairman Mary Schapiro sitting in as the first chief executive officer. U.S. firms have been rallying for a "linkup to stem rising compliance costs", with the hopes of curbing financial scandal.
For a look at the responsibilities the new agency will take on, see the entire article here.
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, Securities
SogoInvest Profiled in Forbes Asia 2006-11-20 23:43:34 Forbes Asia
has recently profiled SogoInvest and William Yeh, President and CEO of SogoInvest. The article examines William and Sogo in great detail, and delves into William’s personal philosophy and history, the Genesis Securities business model that allowed Sogo to grow, the future of Sogo, and upcoming products that may just surprise you. Check it out here!
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The Brits Play Hard to Get 2006-11-20 15:05:11 As the New York Stock Exchange is completing the Euronext merger and solidifying its’ presence in Europe, NASDAQ is making plans as well; in a bid to compete with NYSE, they are attempting to purchase the London Stock Exchange (LSE).
Recent accounting disclosures and documentation required by Sarbanes-Oxley make it costly for many companies to maintain listings in the US - and Europe is the next stop for those new listings. To compete with NYSE, NASDAQ must establish a presence in Europe.
But London will have none of it. Even though NASDAQ has already purchased almost 30% of the London Exchange in the open market, LSE executives still refuse to meet with NASDAQ to discuss an amicable merger. Next week, a tender offer by NASDAQ will possibly raise that ownership to 50%, and if not, NASDAQ will simply continue to purchase shares in the open market.
A merger is imminent. Look for fingernail marks on the London streets, pointing towards New York.
For more details click here.
Read more:Brits
Massive NYSE Layoffs Planned 2006-11-09 22:41:55 With automation comes human resource contraction…
The New York Stock Exchange, since having purchased the Archipelago Electronic trading system, is eliminating redundant positions and therefore laying off 17% of the combined NYSE/ARCA workforce. Over 500 employees and 120 consultants will be axed. This comes as no surprise, since the NYSE became a for-profit company after being listed and acquiring ARCA, and is striving to cut costs in order to maximize shareholder return and profitability.
Even the trading floors will not be spared. As electronic trading becomes more efficient and human beings are becoming superfluous, NYSE plans to close 1 of the existing 5 trading rooms. In addition, floor brokers like Jeffries Group are cutting staff as well.
With the purchase of Euronext, in NYSE's push to become a transatlantic stock exchange, more job cuts are likely across the board. Additional job cuts will take place due to NYSE's purchase of SIAC from AMEX.
For more details on this sto
SogoInvest Blog Launch 2006-10-07 19:29:03 We’re happy to announce the launch of the SogoInvest Stock Trading blog! Read informative articles on topics related to stock trading and investing. Posts are made by Alex Kravets (aka me), Content Developer for the blog and William Yeh, CEO of SogoInvest.com.
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NASDAQ to launch Option Market 2006-10-06 23:43:37 Through the gradual consolidation of the major ECNs and exchanges, we now have two behemoths - NYSE/ARCA and NASDAQ/INET. They have been competing on drawing volume and expansion in general; a great example is the recent purchase of a European exchange by NYSE to expand their foreign market share. Now, in a parrying move to NYSE's option market presence, the Nasdaq Stock Market
has revealed plans to create an equity and index options market, sometime in Q3 2007.
Of course, this is all pending SEC approval, but it's a promising concept. The INET technology platform, geared towards high-volume trading, will be utilized, allowing for high volume execution capability. The biggest change will be the narrowing of spreads, which are currently 5 to 10 cents in the options market. This will be similar to the decimalization change from fractions in 2001 for regular stocks. Also, the SEC is pushing for penny option spreads in several major options exchanges.
NYSE has launched an options platf
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