Broker Dealers Prepare For Freaky Fast Delivery IPO Courtesy Of Jimmy John’s

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Jimmy John’s is a franchised sandwich restaurant chain, specializing in “freaky fast” delivery and is based out of Champaign, Illinois. Jimmy John’s is currently owned by Jimmy John Liautaud and Weston presidio. Brokerdealer.com blog update profiles as this sandwich restuarant chain reportedly gears up to launch an IPO. The chain has been around since 1983 but has only recently grew in popularity, currently there are more than 2,000 locations in 43 states. This Brokerdealer.com blog update is courtesy of Reuters’ article, “Exclusive: Gourmet sandwich chain Jimmy John’s prepares IPO – sources“, with an excerpt below. 

To contact a brokerdealer to help you get in on this freaky fast IPO, click here.

Jimmy John’s Franchise LLC is preparing for an initial public offering that could value the popular U.S. gourmet sandwich chain at more than $2 billion, including debt, according to people familiar with the matter.

Jimmy John’s, which is owned by founder Jimmy John Liautaud as well as private equity firm Weston Presidio, is interviewing investment banks to serve as underwriters for an IPO that could come later this year, three people said.

Jimmy John’s has annual earnings before interest, tax, depreciation and amortization of roughly $150 million, the people added.

The sources asked not to be identified because the deliberations are confidential. Representatives of Jimmy John’s and Weston Presidio did not respond to requests for comment.

To continue reading about Jimmy John’s likely IPO happening later this year, click here.

SEC Locks Retail Brokers Out Of Stock Market Reform Meeting

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Brokerdealer.com blog update profiles the SEC intentionally leaving retail brokers out of their upcoming meeting on stock market reforms. The group will meet four times a year and review old rules and advice the SEC on new regulation. Retail brokers are confused because the SEC has always made it a priority to protect retail investors so leaving retail brokers out of this advising group is raising questions.  This brokerdealer.com update is courtesy of Reuters’ John McCrank in his article, “SEC’s stock market reform club locks out retail brokers” with an excerpt below.

The U.S. Securities and Exchange Commission is convening a group of financial industry veterans for the first time next month to consider stock market reforms, but one group will be conspicuously absent: retail brokerages.

The SEC’s 17-member Market Structure Advisory Committee includes representatives of fund companies, an exchange, off-exchange trading venues, dealers, and academia, among others. The group, which meets four times a year, will review old rules, and advise the SEC on a range of new regulations designed to make sure the market is as stable and fair as possible.

Still, given that the SEC has said its main priority is to protect retail investors, the omission of retail brokers raises questions, because without their point of view the panel may recommend changes that favor institutional investors, analysts said. Retail investors place around 16 percent of all U.S. stock orders.

“There’s a missing gap of protecting retail order flow,” said Larry Tabb, chief executive of capital markets advisory firm TABB Group.

That gap was also noticed by committee member Joseph Ratterman, chairman of No. 2 U.S. exchange operator BATS Global Markets. He said he mentioned his concern to SEC Chair Mary Jo White shortly after the committee was announced and that she was supportive of him, along with committee member Jamil Nazarali, from market making firm Citadel Securities, formally representing retail interests.

To continue reading this article from Reuters, click here.

BrokerDealer Firm Focuses On Bitcoin

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A bitcoin sticker is seen in the window of the 'Vape Lab' cafe, where it is possible to both use and purchase the bitcoin currency, in London

Brokerdealer.com blog update profiles the continued interest in the bitcoin craze. While some bitcoin advocates prepare to launch an bitcoin ETF, another is preparing for a bitcoin IPO, and another is pushing New York City  accept them as payments for fines. Now, one New York- based firm, founded by a bitcoin advocate, is rebranding its brokerdealer division to specialize in digital currency trade, mainly bitcoins.  This brokerdeaeler blog update is courtesy of Reuters’ article, “Bitcoin-focused firm rebrands broker-dealer for digital currencies” with an excerpt below.

Digital Currency Group, a New York-based entity founded by bitcoin advocate Barry Silbert, rebranded its broker-dealer division of SecondMarket Inc specializing in trading virtual currencies including bitcoin, according to a press statement on Thursday.

The Trading Division of SecondMarket Inc is now called Genesis Trading and focuses solely on institutional clients such as hedge funds and alternative asset investors, it said.

The rebranded Genesis Trading has executed over $25 billion in the trading of specialized fixed income securities over the last two years, said Chief Executive Officer Brendan O’ Connor.

The division also carried out trades for more than 800,000 bitcoins worth over $300 million, making the company the bitcoin industry’s largest over-the-counter trading desk.

“Our goal is to become the partner of choice for large institutional buyers and sellers who are beginning to recognize the economic potential of digital currency,” said O’Connor.

To continue reading about this brokerdealer firm’s shift to bitcoin trading, click here

Egypt’s BrokerDealers Rejoice: ETF Trading is Finally Allowed

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download (2)Brokerdealer.com update courtesy of Reuters and profiled on MarketMuse.

Brokerdealer.com provides members with the ability to have access to international databases, one the international options is Egypt. Until this week, the Egypt Stock Exchange has not permitted for ETFs to be traded on the exchange. This will on change on Wednesday, January 14, when for the first time, ETFs will be traded. The exchange hopes that this will lead to more foreign investors and boost the economy.

Egypt’s stock exchange will allow trading in Exchange Traded Funds (ETFs) for the first time on Wednesday, as part of efforts to encourage foreign investment and boost liquidity.

ETFs are typically funds that track equity indexes, though they can also track commodities and other assets, with component stocks usually represented in proportion to the size of their market capitalization.

ETFs are traded like a stock and can allow investors to diversify their risks and reduce transaction costs.

The introduction of ETFs in Egypt comes amid a flurry of takeovers and share issues on Egypt’s stock exchange, signalling resurgent interest from international investors in a market looking to restore confidence after the turmoil unleashed by a 2011 uprising which ousted leader Hosni Mubarak.

The main stock index rose about 30 percent in 2014 and trading volumes have rebounded above levels seen in 2010.

“We are working on offering new investment vehicles to investors and in the long run, these funds will help to create liquidity in the market,” Mohamed Omran, chairman of the Egyptian Exchange, told Reuters.

“The funds will help investors reduce risk by investing in the market as a whole.”

The introduction of ETFs will also allow for the emergence of market-makers in Egypt for the first time, potentially boosting liquidity.

Egypt’s Beltone Financial Holding, which specialises in brokerage, investment banking and private equity, won Egypt’s first licence to operate an ETF on the Egyptian Exchange in April.

Its ETF is being launched with an initial value of 10 million Egyptian pounds ($1.4 million), according to Alia Jumaa, head of investment for the new fund.

For the original article from Reuters, click here

IPO of the Day: Playing Chicken in Stockholm via Scandi Standard

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BrokerDealer.com/blog news courtesy of Reuters -

Scandinavian food company Scandi Standard said on Monday it would launch an initial public offering in Stockholm that would give it a market capitalisation of up to 2.4 billion Swedish crowns ($361 million).

The company, which makes food products based on chicken and had adjusted EBITDA earnings of 479 million crowns on pro forma sales of 5.2 billion last year, said its shares would be sold at 33 to 40 crowns each.

If the owners decide to increase the offering in full and if the over-allotment option is fully exercised, it will comprise 39.6 million shares, representing 65 per cent of the total number of shares in the company.

Scandi Standard is owned by London-based private equity firm CapVest and Swedish farming association Lantmannen.

Link to full statement: r.reuters.com/hyh22w

($1 = 6.6448 Swedish Crowns) (Reporting by Sven Nordenstam)