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E-Trade
E*TRADE is an investment brokerage and electronic trading platform that operates as a subsidiary of Morgan Stanley. History In 1982, physicist William A. Porter and Bernard A. Newcomb founded TradePlus in Palo Alto, California, with $15,000 in capital. In 1983, it launched its first trade via a Compuserve network. In 1992, Porter and Newcomb founded E-Trade and made electronic trading available to individual investors. On August 16, 1996, the company became a public company via an initial public offering. The company sold 5,665,000 shares of its common stock for $10.50 per share under the stock ticker "ETFC" on the NASDAQ stock exchange. The company figured prominently in the dot-com boom, as both a way to speculate in internet stocks and an internet stock itself. In October 2020, the company was acquired by Morgan Stanley. Management history In November 2007, Mitch Caplan resigned as CEO and Citadel LLC received a seat on the board of directors of the company after C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mitch Caplan
Mitchell H. Caplan is a former CEO of E-Trade Financial Corporation. Background Caplan grew up in Portsmouth, Virginia, and graduated from the Norfolk Academy in 1975. He subsequently received a BA in history from Brandeis University – later receiving his JD and an MBA from Emory University. Caplan became involved with Juvenile Diabetes Research Foundation, serving on its board, when one of his daughters (Ilana, 21) was diagnosed with diabetes. He has also served as a board member for the American Committee for the American Committee for the Weizmann Institute of Science (ACWIS) and the Aspen Music Festival and School, as well as on the Corporate Fund Board of the Kennedy Center for the Performing Arts and as chairperson for Teach for America's Washington, DC advisory board. Career From 1984 to 1990 Caplan was an associate of the law firm Shearman & Sterling. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morgan Stanley
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients include corporations, governments, institutions, and individuals. Morgan Stanley ranked No. 61 in the 2023 Fortune 500 list of the largest United States corporations by total revenue and in the same year ranked #30 in Forbes Global 2000. The original Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (a grandson of J.P. Morgan), Harold Stanley, and others, came into existence on September 16, 1935, in response to the Glass–Steagall Act, which required the splitting of American commercial and investment banking businesses. In its first year, the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The current Morgan Stanley is the result of the merger of the origi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citadel LLC
Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. Founded in 1990 by Kenneth Griffin, it has more than $65 billion in assets under management . The company has over 2,900 employees, with corporate headquarters in Miami, Florida, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Griffin owns approximately 85% of the firm. As of December 2022, Citadel is one of the most profitable hedge funds in the world, posting $74 billion in net gains since its inception in 1990, making it the most successful hedge fund in history, according to ''CNBC''. Citadel LLC is a separate entity from the market maker Citadel Securities, although both were founded and are owned by Griffin. History Founding, 1990–2000 Griffin started his trading career out of his dorm room at Harvard University in 1987, trading convertible bonds. As a sophomore, he hooked a satellite dish to the roo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Trading Platform
In finance, an electronic trading platform, also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products can be traded by the trading platform, over a communication network with a financial intermediary or directly between the participants or members of the trading platform. This includes products such as stocks, bonds, currencies, commodities, derivatives and others, with a financial intermediary such as brokers, market makers, investment banks or stock exchanges. Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone-based trading. Sometimes the term trading platform is also used in reference to the trading software alone. Electronic trading platforms typically stream live market prices on which users can trade and may provid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unlike regional branches or divisions, subsidiaries are considered to be distinct entities from their parent companies; they are required to follow the laws of where they are incorporated, and they maintain their own executive leadership. Two or more subsidiaries primarily controlled by same entity/group are considered to be sister companies of each other. Subsidiaries are a common feature of modern business, and most multinational corporations organize their operations via the creation and purchase of subsidiary companies. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, and Citigroup, which have subsidiaries involved in many different Industry (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dot-com Boom
The dot-com bubble (or dot-com boom) was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Internet, resulting in a dispensation of available venture capital and the rapid growth of valuations in new dot-com startups. Between 1995 and its peak in March 2000, investments in the NASDAQ composite stock market index rose by 80%, only to fall 78% from its peak by October 2002, giving up all its gains during the bubble. During the dot-com crash, many online shopping companies, notably Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down. Others, like Lastminute.com, MP3.com and PeopleSound were bought out. Larger companies like Amazon and Cisco Systems lost large portions of their market capitalization, with Cisco losing 80% o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Post
The ''New York Post'' (''NY Post'') is an American Conservatism in the United States, conservative daily Tabloid (newspaper format), tabloid newspaper published in New York City. The ''Post'' also operates three online sites: NYPost.com; PageSix.com, a gossip site; and Decider.com, an entertainment site. The newspaper was founded in 1801 by Alexander Hamilton, a Federalist Party, Federalist and Founding Fathers of the United States, Founding Father who was appointed the nation's first United States Secretary of the Treasury, Secretary of the Treasury by George Washington. The newspaper became a respected broadsheet in the 19th century, under the name ''New York Evening Post'' (originally ''New-York Evening Post''). Its most notable 19th-century editor was William Cullen Bryant. In the mid-20th century, the newspaper was owned by Dorothy Schiff, who developed the tabloid format that has been used since by the newspaper. In 1976, Rupert Murdoch's News Corp bought the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
