Printer Friendly
The Free Library
19,573,962 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

141 Capital to Register with NFA as Independent Broker and Order Financial Audit.


CHICAGO -- 141 Capital, Inc. (OTCPK: ONCP) announced today that it plans to register with the National Futures Association National Futures Association (NFA)

The futures industry self-regulatory organization established in 1982.
 as an Independent Introducing Broker. In doing so, 141 will be able to participate in commissions generated from electronic trades placed by its customers. As part of the registration process, management stated that it will order the independent audit of the company's financials. Audited financial statements for year-end 2008 and the first two quarters of 2009 are necessary to complete the application process. The audited financials, when completed, will be filed with the NFA NFA - Finite State Machine , and posted to 141's website as part of management's efforts to increase public disclosure and investor transparency.

Errol Stone, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of 141 stated, "As 141 has previously been registered with the NFA as an Introducing Broker, the approval process should go smoothly, and while audited financials are necessary to the registration process, we intend to undergo the audit and fully disclose the results in order to increase our level of transparency. Showing our bottom line is part of our commitment to shareholder value." Mr. Stone noted that upon the execution of a letter of engagement that the auditing firm and schedule would be announced.

By offering discounted commission rates of futures and associated options contracts traded globally, 141 looks to build a significant customer base from which the company will generate commissions. Mr. Stone explained, "Our marketing plan will provide us with some significant competitive advantages. Low commissions for electronic trading customers will be achieved on our unique execution platform through a web-based portal currently in development that will offer global electronic trading in futures, futures options, stocks, stock options, ETFs and other listed funds, Forex Forex

See: Foreign exchange
, and bonds."

About 141 Capital, Inc. (www.141capital.com):

141 Capital, Inc., is a publicly traded company publicly traded company

A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market.
 based in Chicago. Its primary operations involve commodity trading. The company's principals are involved in the development of software technology to develop a proprietary trading Proprietary Trading

When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades.
 platform that the company intends to release to consumers upon its completion and the company's registration as an independent broker with the NFA. Additionally, 141 Capital utilizes trading systems for trading financial products listed on the world's derivatives for its own account.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated ob·li·gate  
tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates
1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force.

2. To cause to be grateful or indebted; oblige.
 to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
COPYRIGHT 2009 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 13, 2009
Words:462
Previous Article:Medtronic Launches Clinical Trial to Improve Quality of Care for Implantable Defibrillator Patients.
Next Article:U.S. General Services Administration Renews Lease for 310,202 Square Feet at Lowe Enterprises' Jefferson Plaza in Crystal City.
Topics:



Related Articles
Interbank FX Honored as Best Foreign Exchange Broker.
LiquidityPort Launches Electronic OTC Brokerage Platform for NYMEX Clearport Products.
WSD Global Markets Ltd in Need of Fresh Talent to Push Its Development in 2009.
141 Capital Announces Stock Structure.
141 Capital's Affiliate Associates with Interactive Brokers Group, Inc.
How Is Currency Trading Different?

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles