Wall Street’s self-regulatory organization (SRO) has green-lit a new blockchain-powered securities trading platform. The Financial Industry Regulatory Authority (FINRA) has approved the membership application of IOI Capital and Markets, which plans to act as a placement agent for privately placed, digital securities on a permissioned Hyperledger Fabric blockchain. Co-founders Rashad Kurbanov and Hamid Gayibov have been
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Check out the companies making headlines before the bell: Home Depot – The home improvement retailer reported quarterly earnings of $3.17 per share, 9 cents a share above estimates. Revenue came in below forecasts, however, and a comparable-store sales increase of 3% was below the 3.5% consensus estimate of analysts surveyed by Refinitiv. Home Depot
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Global infrastructure, a class of “real assets“, has become more and more popular with investors who are seeking to enhance the resilience and diversification of their equity portfolio. Infrastructure assets, including utilities, oil and gas pipeline networks, communications and transportation infrastructure, provide important services to the broader society. These assets can provide stable and predictable
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Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller. “One of the ways you can test Markopolos’ bonafides, however, is the fact that the SEC has a whistleblower
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Check out the companies making headlines before the bell: Estee Lauder – The cosmetics maker reported adjusted quarterly profit of 64 cents per share, 11 cents a share above estimates. Revenue also beat forecasts and Estee Lauder issued a better-than-expected full-year outlook. The company mentioned escalating U.S.-China trade tensions as a potential source of risk,
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Municipal bond volume is 2% ahead of last year, as volume sans advance refundings is starting to level out and normalize. Halfway through the year, total volume stands at $168.99 billion over 4,901 deals, compared with $165.68 billion in 4,812 transactions, according to data from Refinitiv. “The first half of 2019 was strong for municipals
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Background Leveraged ETFs aim to multiple the gains of an underlying index by a fixed factor. These funds have only been around for about a decade, but they’ve demonstrated a remarkable ability to achieve their stated objective. For example, if you plot daily gains for the ProShares UltraPro S&P500 (UPRO) vs. the Vanguard 500 Index
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The Takeaway: QuadrigaCX’s former users are running out of patience with Miller Thomson and EY, the court-appointed companies tasked with recovering their missing funds. The users want more transparency into EY’s investigation of Quadriga’s missing funds, as well as a better understanding of how the audit firm accidentally lost 103 bitcoin earlier this year. Some
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Jen-Hsun Huang, CEO, Nvidia David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Nvidia jumped as much as 7% after the chipmaker announced better-than-expected second-quarter earnings. The company reported adjusted earnings per share of $1.24 on revenue of $2.58 billion. Analysts had expected earnings per share
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The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
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Crypto exchange Coinbase disclosed a potential vulnerability Friday, announcing that a tiny fraction of its customers’ passwords were stored in plain text on an internal server log. However, the information was not improperly accessed by outside parties, the exchange said. In a post-mortem shared with CoinDesk, Coinbase outlined “a password storage issue,” impacting less than
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Bakkt, the long-awaited crypto services platform from the Intercontinental Exchange, is finally set for launch on September 23. Despite being officially announced in August 2018, the platform only received a trust charter from New York State Department of Financial Services this week, which clears the way for the company to begin offering its highly-anticipated physically-settled Bitcoin futures contracts. Bakkt
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The Long Island City skyline from across the East River on September 19, 2017. (Photo by LUDOVIC MARIN / AFP) (LUDOVIC MARIN/AFP/Getty Images) AFP/Getty Images If Long Island City, N.Y. needed Amazon, you wouldn’t know it from continued robust development, sales and leasing momentum just across the East River from Midtown Manhattan. For many years
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