First Black-Owned U.S. Stock Exchange to Open Next Year

Motley Fool ^ | July 29, 2020 | Eric Volkman

[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.

[bert]

Like many things black, a stock exchange will be unequal and inferior

[gattaca]

I saw this guy on Liz Claman’s show yesterday and that was the impression I got...that it would be only black/minority owned businesses listed.

[SmokingJoe]

Best way for a fool to lose their money.
Wouldn’t touch it with a 100 mile barge pole.
Let the BLM terrorists put the money they stole money there

[SmokingJoe]

Like many things black, a stock exchange will be unequal and inferior

It will be like Chicago being run by Lightfoot. Total chaos and anarchy coupled with plenty of theft. Chuckle.

[Alberta's Child]

LOL. I wouldn’t want to be listed on that exchange under any circumstances.

[deport]

Lots of crackers have stocks/money. I bet they would be welcome
to sell/buy thru their trading company.

[Vigilanteman]

Well said! I wish this venture the best of luck. The more black capitalists we have, the more the vision of Dr. Booker T. Washington advances toward replacing the "government power" mantra of W.E.B. DuBois and his modern day equivalents.

There is a reason that gutter trash like the BLM movement target and burn down black owned businesses. They don't want their captive clients leaving the plantation.

[Pilgrim's Progress]

Uh, black as in decent hard-working Americans? or BLM thugs? There’s a difference.

[Hootowl]

Yep, let’s create more racial division. What we’ve got going on now will set back racial relations by about 70 years. Why not push it to 80?

[Vigilanteman]

I'm not sure about that, but I do know the old Michael Jackson joke back when we had a sense of humor.

"Jackson proved that a handsome young black kid could grow up to be an ugly white woman. Only in America!"

[hadaclueonce]

I expect a slam dunk

[bert]

One more thought.....

A black stock exchange is actually segregation and shows many blacks prefer segregation to assimilation

[bk1000]

The color of one’s broker has always been a great concern among investors. Even Biden has said that blacks can’t use the internet.

What to do?

[Alberta's Child]

LOL. I always remembered it as “a poor black kid” and “a rich white woman.”

[Fido969]

I’m for black owned business succeeding, but why couldn’t these businesses get listed on other exchanges? For that reason, I’d be skeptical of the quality of the investments.

[deport]

How will Dream Exchange build a bridge to financial prosperity? A small number of new companies get listed on national exchanges annually. Rather than creating a purely electronic secondary trading apparatus, Dream Exchange will list new companies with breakthrough ideas at an early stage when investors will get to see the greatest potential opportunity.

This revolutionary new concept in the world of finance has been created by Joe Cecala, Founder and CEO of Dream Exchange who helped draft HR 2899 The Main Street Growth Act which will allow for the creation of a new type of security called a "venture security" on a new type of exchange called a "Venture Exchange". Once created, Venture Exchanges will expand the auction-style stock exchange environment to private companies, providing liquidity to small businesses and investors, building a bridge to the American Dream.

CLICK

[Vermont Lt]

The first?

There was a thriving black stock market in Richmond VA, 100 years ago. And of course the one in Tulsa has been noted in the past couple of weeks.

So, this whole, “We are the first minority owned....” crap is just ignorant.

And this one will go broke as well—not because it gets burned down; but because the world does not need a new stock market exchange. After some woke transactions...the novelty will wear off. Then it becomes a case of getting your transactions at the right price, quickly, without little or no commission.

Quality of transactions means a lot more than skin color.

[bgill]

That’s racist!

[wbslws]

Just wait till I open my “George Floyd Counterfeit Currency Exchange”

[lewislynn]

They’ll be destroyed from within. It’s just that simple