Part of a typical job ad... Responsibilities: Conduct thorough research and analysis of global financial markets to identify potential trading opportunities. Develop proprietary trading strategies across various asset classes, including Equity, fixed income, currencies, commodities, and derivatives. Implement and refine trading algorithms to enhance performance and adapt to changing market conditions. Execute trades in accordance with established strategies while adhering to risk parameters and compliance guidelines. Implement effective risk management practices to mitigate potential losses and optimize portfolio performance. Stay abreast of global economic events, geopolitical developments, and industry-specific news that may impact financial markets. Monitor competitor strategies and market trends to maintain a competitive edge. Qualifications: Proven experience as a proprietary trader across multiple asset classes. Excellent understanding of market dynamics, trading mechanics, and risk management. Ability to thrive in a fast-paced and dynamic trading environment.
What type of underwriting agreements are the: (1) best efforts; (2) AON, (3) firm commitment, and (4) mini-max? Best Efforts Agreement: In a best efforts underwriting, the investment bank (or underwriter) commits to making their best efforts to sell the securities to the public. However, there is no guarantee that they will be able to sell all the securities. This type of agreement is often used for high-risk securities. The underwriter does not commit to purchasing any unsold securities themselves. If demand is low, the issuer may receive less funding than anticipated. A market out clause is sometimes included to allow the underwriter to back out if unforeseen developments affect the securities' quality. Firm Commitment Agreement: In a firm commitment underwriting, the underwriter guarantees to purchase all the securities offered by the issuer, regardless of whether they can sell them to investors. It is the most desirable agreement for issuers because it ensures they receive all the funds immediately. The underwriter puts their own capital at risk and must buy any unsold securities themselves. A firm commitment is more likely for offerings in high demand. Mini-Maxi Agreement: A mini-maxi agreement is a type of best efforts underwriting. It becomes effective only after a minimum amount of securities is sold. Once the minimum threshold is met, the underwriter can then sell securities up to the maximum amount specified in the offering terms. All or None Agreement (AON): In an AON agreement, the underwriter commits to selling all the securities offered by the issuer to investors. If they cannot sell all the securities, the entire offering is canceled. This type of agreement is less common and typically used for smaller offerings. Remember, each type of underwriting agreement has its own implications and risk levels. Issuers and underwriters choose the most suitable agreement based on their specific circumstances and market conditions.
QUESTIONS & ANSWERS: Approximately how many days does the cooling-off period for a new issue last? 90 60 20 10 The SEC usually takes about 20 days to review a company's registration statement. What is offered by a Regulation D offering? a large block of previously outstanding securities securities worth $100 million or less in a 24-month period securities only within the home state of the issuer securities to 35 or fewer unaccredited investors within a 12-month period A private placement (which is what a Regulation D offering is) allows the offering of an unlimited amount to accredited investors, but to only 35 small (unaccredited) investors in one year. Accordingly, Regulation D transactions are exempt from the full Securities Act of 1933 registration requirements. What is the Securities Act of 1933? The Securities Act of 1933 is a significant piece of legislation in the United States that governs the issuance and sale of securities. Here are the key points about this act: Purpose and Objectives: Often referred to as the “truth in securities” law, the Securities Act of 1933 has two basic objectives: Disclosure: It requires that investors receive financial and other significant information concerning securities being offered for public sale. ANTI-Fraud Measures: It prohibits deceit, misrepresentations, and other fraudulent practices in the sale of securities. Issuers and Disclosure: The Act primarily targets the issuers of securities (companies that issue securities). Issuers seek to raise capital for new projects, investments, or expansion. To attract potential investors, issuers must present their company in an attractive manner. The Securities Act ensures that issuers selling securities to the public disclose material information, allowing investors to make informed decisions. Mandatory Registration Process: The Act effectuates disclosure through a mandatory registration process for any sale of securities. While exemptions exist (e.g., for secondary market trading and small offerings), the Act mainly applies to primary market offerings by issuers. Under Section 5, all issuers must register non-exempt securities with the Securities and Exchange Commission (SEC). Registration involves two parts: Prospectus: Issuers submit information forming the basis of the prospectus provided to prospective investors. Additional Information: Issuers also submit non-prospectus information accessible to the public. The SEC reviews registration statements to ensure required disclosures have been made. Once approved, the registration statement becomes effective within 20 days. Detailed Disclosures: Issuers provide extensive information, including: Descriptions of the issuer’s business. Past performance. Information about officers and managers. Audited financial statements. Executive compensation details. Risks associated with the business. Tax and legal considerations. Terms of the securities issued. All this information becomes public through the SEC's online EDGAR system. In summary, the Securities Act of 1933 aims to ensure transparency, protect investors, and prevent fraudulent practices in securities transactions. It plays a crucial role in maintaining the integrity of the financial markets. (The Securities Act of 1933 was Congress's opening shot in the war on securities fraud. Congress primarily targeted the issuers of securities. Companies which issue securities, called issuers, seek to raise money to fund new projects or investments or to expand their operations. These companies must attract potential investors.)
This was an entry posted by prc117f: Building out the new 2024 trading workstations and Lenovo has some really nice systems way better prices (40% lower) than the closest Dell Precision model. And the P7 is a significantly better chassis it even has an IPL diagnostics screen on the front like the IBM AS/400s etc.. Tool less etc.. I will be expanding it to 128gb to fill all 8 memory channels (307gb/s memory bandwidth) adding 2 Radeon Pro VII cards as well (13 teraflops double precision capacity 1024GB/s memory bandwidth with ECC) adding an SN840 6.4tb SSD as well and a Lenovo PCI card for 4x Optane P1600x drives which will take the heavy random I/Os P7 model Processor Intel® Xeon® W7-3445 Processor (2.60 GHz up to 4.80 GHz) Operating System Windows 11 Pro for Workstations 64 Graphic Card NVIDIA RTX™ A2000 12GB GDDR6 Memory 32 GB DDR5-4800MHz (RDIMM, ECC) - (2 x 16 GB) Storage 2 TB SSD M.2 2280 PCIe Gen4 Performance TLC Opal AC Adapter / Power Supply 1400W Pointing Device USB Optical Mouse Keyboard USB, Traditional, Black - English (US) WLAN Intel® Wi-Fi 6E AX210 2x2 AX vPro® & Bluetooth® 5.1 or above Warranty 3 Years On-site
Bing Copilot, what is SEC Rule 144? SEC Rule 144 is a regulation enforced by the U.S. Securities and Exchange Commission (SEC) that outlines the conditions for the sale or resale of restricted, unregistered, and control securities. Let me break it down for you: Restricted Securities: These are securities acquired in unregistered, private sales from the issuing company or its affiliates. Investors typically receive restricted securities through private placement offerings, Regulation D offerings, employee stock benefit plans, or as compensation for professional services. When you acquire restricted securities, you’ll often receive a certificate stamped with a "restrictive" legend. This legend indicates that the securities cannot be resold in the marketplace unless they are registered with the SEC or qualify for an exemption. Control Securities: Control securities are held by an affiliate of the issuing company. An affiliate can be an executive officer, director, or large shareholder who has a relationship of control with the issuer. Control means having the power to direct the management and policies of the company, whether through ownership of voting securities or other means. Rule 144 Conditions: Rule 144 provides an exemption from registration requirements for selling securities in the public markets if specific conditions are met. Here are the key conditions: Holding Period: Before selling restricted or control securities in the marketplace, you must hold them for a certain period of time. Additional Purchases: Purchasing additional securities of the same class from the issuer does not affect the holding period of previously acquired securities. Gifts: For gifts made by an affiliate, the holding period begins when the affiliate acquired the securities (not the date of the gift). Stock Options: The holding period for stock options begins on the date of exercise, not the grant date. Remember, Rule 144 is not the only way to sell restricted or control securities, but it provides a "safe harbor" exemption for sellers who meet its conditions.
What is a "safe harbor" exemption? A "safe harbor" exemption is a legal provision that provides protection or immunity from certain legal consequences. It acts as a shield for individuals or entities who meet specific criteria, allowing them to engage in certain activities without facing legal repercussions. In the context of securities regulations, a safe harbor exemption typically refers to rules or conditions that, if followed, allow sellers of securities to avoid violating registration requirements. Here are some key points about safe harbor exemptions: Purpose: Safe harbor provisions are designed to strike a balance between investor protection and facilitating capital markets. They provide clarity and guidance to market participants, allowing them to navigate complex regulations more confidently. Examples of Safe Harbor Exemptions: Rule 144: As mentioned earlier, Rule 144 provides a safe harbor exemption for selling restricted or control securities under specific conditions. Regulation A+: This exemption allows smaller companies to raise capital through public offerings without full registration requirements. Regulation D (Private Placements): Certain private offerings are exempt from registration under Regulation D if they meet specific criteria. Crowdfunding Exemption: The JOBS Act introduced a safe harbor for crowdfunding offerings, allowing startups and small businesses to raise funds from a large number of investors. Conditions: Safe harbor exemptions come with conditions that must be met. These conditions vary depending on the specific exemption. Compliance with disclosure requirements, holding periods, and limitations on the number of investors are common conditions. Legal Certainty: By adhering to safe harbor provisions, sellers can reasonably assume that their actions comply with the law. However, failure to meet the conditions may result in loss of the exemption and potential legal consequences. Remember that safe harbor exemptions are not a free pass; they require diligence and adherence to the specified rules. Always consult legal professionals or regulatory authorities for guidance on specific exemptions.
Trading topics listed by Sunny Harris... The Markets What Is Trading Why Do YOU Want to Trade? What Is Your Goal? How Much Can You Risk? (also see Risk vs Reward below) What Kinds of Risk Are There? Developing Your Business Plan Keeping a LabBook Time Management Tools Keeping Track of the Days Your Hourly Wage Organizing Your Business Space Planning Color Schemes Organizing Your Trading Ideas Quick Reference Computer Power Your Trading Records Learning the Jargon Adages The Exchanges Reading the Ticker Tape Dow Theory Margin Requirements Inflationary Effects Over Time Annual Closing Values of the Dow Historical Margin Requirements Fundamental Analysis Sector Analysis Technical Analysis Time Frames Your ViewPoint Long-Term (Investing) Micro (Real Time Data Feed) Dual Time Frames Data Sources Building a Database Vendors How Much Is Enough? Synthetic Contracts Periodicals Newspapers Financial Times (Pink) IBD (Investors Business Daily) Washington Post Magazines Active Trader Futures SFO TASC Traders' Catalog & Resource Guide™ Traders World OnLine Services Briefing.com INO.com ValueLine Charting Techniques Chart Construction & Analysis Types of Charts Trend Analysis Gap Theory Volume & Open Interest Reversal Patterns Technical Indicators Bar Analysis Support & Resistance Consolidation & Congestion Finding Trends Moving Averages MACD RSI Stochastics Well-Known Systems of Others Published Systems in Popular Literature Sunny's Proprietary Indicators and Strategies Fundamental Data & Information RS (Relative Strength) CANSLIM Economic Data Supply & Demand Sector Analysis Intermarket Analysis Cycles Strategic Investment Timing Computer Software Sorting for Tradables Genesis Navigator MetaStock MultiCharts Ninja Trader TC2000 (& TCNet) TradeStation The Analysis Process Digital vs. Analog Analysis Numerical Analysis Pattern Analysis Necessary & Sufficient Proofs Equations & Formulae Exploring the Literature Sunny's Books Sunny's Must Read List Comprehensive Book List Clubs and Professional Organizations AAII AAPTA MASC MTA (Market Technicians Association) Networking Users' Groups MetaStock TradeStation Vector Vest Seminars & Conferences The Money Show TradeStation World Traders Expo (Githler) Trading Instruments Bonds Cash Commodities Futures Mutual Funds Options Stocks Investment Timing Turning Day Trades into Position Trades Selecting Your Time Frame Contrary Investing Your Trading Plan Canned Trading Systems Trading OPM (Other People's Methods) Watchdogs Futures Truth Striker If the System's So Good, Why Are You Selling It? Breaking the Code Following the Code Buckle Up for Safety Post-It Notes Psychology Fear & Greed Sabotage Coaches Self-Analysis (ref: Adrienne Toghraie) Ethics Holy Grail Profits Swept Under Predicting the Future Dancing with the Markets Is That All There Is? Phases of Discovery Think Design Program Test Re-Design Re-Program Re-Test Follow Your System System Design Design of Experiments Your Lab Book Putting Your Ideas on Paper Accepting the Results Am I Done Yet? What Is True? Creating Your System System Testing Marking the Ideal Trades Calculating Your PHW™ (Potential Hourly Wage™) Overlays and Transparencies Proving a System "Works" Calculating Your CPC™ Index (Cardinal Profitability Constructs™) Factoring in Costs Slippage Commission Data Service Office Supplies & Maintenance Keeping Losses Small Protective Stops vs Profit-Taking Stops Looks Like a Duck, Walks Like a Duck Curve Fitting Optimization (the correct way) Areas of Confluence (Clustering Effects of Good Optimization) Comfort Zones Money Management Risk vs Reward Liquidity Risk - The risk of not being able to get out of the investment conveniently at a reasonable price. This can occur for a number of reasons. If the market is volatile, you may be forced to sell at a significant loss if you must sell immediately. Another cause can be an inactive market. For instance, it may be difficult to sell a house simply because there are no buyers. Market Risk - The risk that the general market or economic environment will cause the investment to lose value regardless of the particular security. A stock may drop in value simply because the overall stock market has fallen; this is referred to as stock market risk. A bond doesn’t face stock market risk, but it may drop in value due to a rise in interest rates; this is referred to as interest rate risk. Inflation Risk - The uncertainty over future inflation rates, which results in uncertainty over the future real (after-inflation) value of your investment. An investment that barely keeps pace with inflation will not be able to grow in real terms, leaving you with only as much purchasing power in the future as you have today. Business & Industry Risk - The uncertainty of an investment’s ability to pay investors income, principal, and any other returns due to a significant fall-off in business (either firm-related or industry-wide) or bankruptcy. A stock, for instance, may fall in value because a firm’s earnings have unexpectedly dropped due to bad management calls or an industry-wide slowdown. Optimal-f Ralph Vince "Portfolio Management Formulas" Ultimate-F Sunny Harris: Compounding Your Returns (Proprietary) Styles and Levels of Control Systematic Trading Mechanical Trading Automated Trading Setting Up Your Account Record Keeping Divvying Up the Portfolio Entering Your First Trade Order Types Legal & Tax Questions Lawyers Regulators CFTC NFA NASDAQ SEC Evaluating Your Performance Using CPC & PHW Useful Statistics ME (Mathematical Expectation) Percent Profitable Ratio of Profitable to Losing Trades Average Trade Measuring Success RS VAMI Is It Still Working? Accounting Do It Yourself? Accountants Back Office Services Useful Internet Connections Systems and Strategies that Work!
If an investor held shares of a restricted stock with 6,000,000 shares outstanding, with the most recently reported weekly trading volumes as listed below, and held them for over a year, how would you calculate the maximum number of shares the investor could sell under Rule 144? The key thing to know here is that the investor may sell the average weekly trading volume for the previous 4 weeks or 1% of the outstanding shares, whichever is greater. Since (60,000 + 80,000 + 50,000 + 70,000) ÷ 4 = 65,000 And 0.01 × 1,000,000 = 60,000 The answer would be 65,000 shares.
OrangeMan is making his rule# 144 DWACacko calculations currently. Needs cash qqqqqqqqqqqqqqqquickly.
STABILIZATION BIDS If a new issue is going to be offered to the public at $14.00, will a stabilization bid of $14.50 be acceptable? First of all, you need to understand that stabilization bid refers to a stock purchase made by underwriters immediately following an initial public offering (IPO)... IPO Context: When a company decides to go public and conduct an IPO, it collaborates with underwriters. Underwriters assist in valuing the company's equity, marketing, distribution, sell-side research, and coordinating trading functions. The IPO price is set by the underwriter, and the company’s shares debut in the public market. Risk of Price Volatility: After an IPO, the price of the newly issued shares can be volatile or shaky in trading. The company aims for a higher stock price upon release into the market to ensure a positive perception after going public. Stabilizing Bid Purpose: A stabilizing bid serves to prevent the trading price from falling below the IPO price. It's crucial for the company to avoid negative perceptions due to a declining stock price shortly after going public. Greenshoe Option (Overallotment): To manage this risk, companies may grant underwriters a greenshoe option (also known as an overallotment option). This allows underwriters to oversell or short-sell up to 15% more shares than initially offered by the company. How Stabilizing Bids Work: If demand weakens and the stock price wavers shortly after issuance, underwriters step in. They buy back the shorted shares, creating extra demand for the newly issued shares. This action helps stabilize the stock price, keeping it around or above the IPO price. Example: Suppose Company ABC went public at $15 per share, but demand was weaker than expected. The underwriters initially sold 22.4 million shares (including the 12% over-allotment). They were short 2.4 million shares, so they made a stabilizing bid by buying back those shares. Remember, stabilizing bids are a temporary solution; eventually, the market determines the stock's price. As for the above question, stabilization bids may only be offered at or below the public offering price. Therefore, a stabilization bid of $14.50 would NOT be acceptable.