Posted on 06/19/2021 4:30:29 AM PDT by gattaca
he Dream Exchange promises to provide space for smaller IPOs, which would ideally benefit minority-owned enterprises.
The world of securities trading is about to get a new player: The Dream Exchange -- advertised as the first minority-owned stock exchange in the U.S. -- is preparing to open for business in 2021.
Founded in 2018, the Dream Exchange is a partnership between Joe Cecala, a veteran securities lawyer, and Cadiz Capital, a majority Black-owned mergers-and-acquisitions boutique based in St. Louis.
A key mission of the exchange will be to provide a market in which minority-owned businesses can raise capital. It believes that small initial public offerings -- those under $50 million in total -- can be a driver of the economy, but they have essentially vanished in favor of much higher-ticket issues. This has also impacted minority-owned businesses, as many of these that would want to go public would have IPOs falling into the sub-$50 million category.
A stock market trading graph. IMAGE SOURCE: GETTY IMAGES.
This isn't the partnership's first professional involvement with a stock exchange. Earlier in his career, Cecala was the lawyer for executives in a company that created what Dream Exchange says was the first electronic trading system in this country. That system, Archipelago, was acquired in 2005 by -- and absorbed into -- the New York Stock Exchange, which is now a unit of Intercontinental Exchange (NYSE:ICE).
The Dream Exchange's website offered few specifics -- lacking, for example, any suggestions about which companies might list on it, or what competitive advantages it might hold over Intercontinental Exchange and other established market operators.
Still, many finance industry professionals believe that more sources of funding are needed for minority-owned businesses if they are to grow and thrive. Next year, we'll see if Dream Exchange can successfully provide one.
Will they have waterfountains?
Will they have watermelons? /sarc
I’m not sure I see a problem here. The exchange happens to be owned by blacks people. I don’t see any indication that the companies listed on it will be limited in any way.
Minority owned start up’s aren’t the only undercapitalized businesses around.
His business.. He chooses his clientele. That only seems to work one way.
Thoughts? I say good for them. Markets work if you let them work so let them work. I am sick and tired of the grievance grifters demanding that X, Y or Z be gift wrapped and handed to them. Want more black owned businesses? Fine. Go out and start some. The absence of a black entrepreneurial culture has been pointed out for years. Poor people from all around the world come to the United States and hustle, but white liberals have convinced the black underclass that its path forward is to sit around and whine for more welfare. We need a change in attitude. Start more black small businesses. Stop demanding quota hiring in Hollywood; let black writers and producers develop and pitch scripts for themselves. Nobody is stopping them and everyone in Hollywood will cheer them on. Make your movie and see if you can attract customers. Etc. This applies in all fields. Stop waiting for white saviors to do the work for you; just go do it.
So what? Oh, wait, I get it. They are going to make it a socially responsible venture... like “socially responsible” so called global warming plantation stocks.
Hell yeah MF. Bloods be trippin’ on all that cap it all. Shee it.
Just for the record. Skin is an organ that doesn’t think. The color of you skin is meaningless unless your running a hustle.
Minority businesses get special privileges and preference in contracting with the government. This is illegal, unjust, and unconstitutional.
The good news is that a white guy whose ancestors arrived here on the “Mayflower” can call himself a black woman — and nobody can say a damn thing about it.
If I only have 23% Africa American genetic composition can I buy and sell?
Haven't we conservatives been saying for generations that capitalism is the answer to anyone's (not just blacks) effort to improve themselves.
Selling FUBU, Newports, Jordans, and Yeezy?…
Wait, are you saying a physical characteristic doesn’t possess morals?
I bet you like Math you cracker…
That’s Jordan’s number, so yes.
LOL! First thing I thought as well. "Hey kids, segregation is cool again."
The headline says "Black-owned stock exchange," and everyone assumes that only black-owned businesses can be listed on it.
2022s version of voodoo economics.
Good luck joining the black stock exchange as a cracker. Read my tag line.
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