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New Online Broker ''SogoInvest'' Sets Lowest $3.00 Per Trade Fee; Offers Real Time Trades, Automatic Investments, No Minimums; Professional Tools at Wholesale Prices Passed to the Average Investor.


NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 -- Genesis Securities LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, the only NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
 Certified Platinum Partner for professional order entry, today announced the launch of SogoInvest www.sogoinvest.com, a new and unique online brokerage, setting the lowest $3 per trade commission fees on the Internet, with no hidden fees or account minimums. E[acute accent acute accent
n.
A mark (´) indicating:
a. that a vowel is close or tense, as é in French été.

b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek.

c.
]With the advent of SogoInvest, an online brokerage will for the first time offer automatic daily investments and real-time trading for $3 or less--for Platinum Subscribers, real time trades will be as low as $1.50, and for scheduled automatic investments, it will be $1.00 per trade. SogoInvest customers can take advantage of Dollar Cost Averaging and compound interest returns, in addition to buying and selling fractional shares, which can be purchased at any dollar amount. E[acute accent]"Through economies of scale and its ability to be self clearing, large share volume is facilitated by Genesis Securities, thus resulting in much lower commissions for SogoInvest customers. This powerful combination of transaction speed and low trading costs Trading costs

Costs of buying and selling marketable securities and borrowing. Trading costs include commissions, slippage, and the bid/ask spread. See: Transactions costs.
, once offered strictly to professionals, is what makes SogoInvest unique," says William Yeh, Founder and Chairman of SogoInvest. E[acute accent]Yeh founded Genesis Securities, the parent company of SogoInvest in 1999. Through its Laser technology, Genesis has pioneered one of the fastest direct market access systems in the world. Genesis executes about 2-4% of NASDAQ daily volume and 1-1.5% of the NYSE/AMEX daily trading volume Trading volume

The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares.
. In January 2006, Genesis traded over 1.6 billion shares, and over 4.4 million trades. E[acute accent]"This is what allowed us to launch SogoInvest. The idea behind Sogo is to give the average investor the pricing that only the professional traders get. Our philosophy is to pass the savings on to our customers and to build a relationship with them over the long term," adds Yeh.

E[acute accent]Fractional Shares and Dollar Cost Averaging

E[acute accent]Through Dollar Cost Averaging, an investor can buy smaller amounts of shares over a longer period without worrying about timing the market. While other brokers insist on a minimum of 100 shares per transaction, SogoInvest will allow the investor to acquire the dollar amount they set, purchasing whatever amount of shares that sum can buy at the very moment of acquisition on the market. E[acute accent]Using either a joint or individual account, the investor can set a dollar investment schedule for any day of the week, or a daily or monthly investment in any stock, group of stocks or ETF's offered in the U.S. markets. E[acute accent]This combined with the Automatic Funding and Automatic Investment Plans will offer the new and seasoned investor the streamlined trading functionality and fee base once only allowed for larger firms and institutions. E[acute accent]Genesis is a nationally licensed self clearing broker-dealer. SogoInvest.com offers powerful online trading Online Trading

Making trades via the Internet.

Notes:
The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online.
 tools including real-time portfolio information, stock quotes and charts, free research and news, stocks & ETF ETF

See Exchange Traded Fund.


ETF

See exchange-traded fund (ETF).
 screeners and investor education. E[acute accent]The four senior managing directors of SogoInvest are Tom Dittmer, Founder and Chairman of Refco, the storied commodities brokerage firm, until he retired in 1998. Dittmer is recognized in the Futures Industry Association The Futures Industry Association (FIA) is a trade association in the United States composed of futures commission merchants. A futures commission merchant is analogous to a broker; they are entities that accept orders and payment for commodity futures for execution on a futures  "Hall of Fame" as "one of the legends of the futures industry". The other three managing directors are Brad Reifler, Chief Executive Officer of Pali Capital; Paul Chu, financier and one of the original investors in SINA, the biggest Internet portal in China, and Bert Cohen cohen
 or kohen

(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male.
, founder of Telerate Systems, which sold to Dow Jones Corp. in 1990 for $1.2 billion. E[acute accent]"The service and cost savings that SogoInvest provides for the average investor is really a historical inevitability. Stock market brokerage was deregulated in 1975 which brought about the first major reduction in trading costs. Then, two decades later, costs dropped dramatically when trading and research went online in 1996. Costs have drifted lower since then, but now, this low cost per trade site has finally lowered costs to their ultimate bottom - an idea whose time has come."

E[acute accent]About SogoInvest

E[acute accent]SogoInvest (www.sogoinvest.com) was founded to pioneer the online stock trading industry by offering low cost commission fees of $3 -$1 per trade and bridging the gap between the Wall Street trader and the Main Street consumer. Its powerful technology offers the average investor both the speed, ease of use, and economies of scale that were once only offered to the professional and institutional investor Institutional Investor

A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions.
. SogoInvest offers automatic daily investments, dollar cost averaging and real-time trading at the same low price. SogoInvest is an online discount brokerage firm discount brokerage firm

A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms.
, and a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of Genesis Securities, LLC, a nationally licensed broker dealer, and the only NASDAQ Certified Platinum Partner for professional order entry. In January 2006, Genesis traded over 1.6 billion shares and 4.4 million in trades.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jul 11, 2006
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