Overstock and Siebert Financial Launch Discount Online Equities Trading
February 06 2018 - 7:00AM
Overstock.com, Inc. (NASDAQ:OSTK) and Siebert Financial Corp.
(NASDAQ:SIEB) announce the launch of the Muriel Siebert & Co.
Inc. (Siebert) discounted online trading platform through
Overstock.com’s FinanceHub™.
The platform, which was announced last December, allows any
investor in America accessing the Siebert portal through
Overstock.com’s FinanceHub™ the opportunity to conduct trades
of US equities at discounted prices.
Members of Overstock’s Club O Gold loyalty program will be
charged $1.99 per trade, while non-Club O Gold members will be
charged $2.99 per trade.
“Muriel Siebert was a woman who stood for integrity in capital
markets, and I am pleased for Overstock.com to be associated with
the firm she founded. We have integrated so as to be able to bring
to the public this discount trading platform, priced with an eye
towards re-democratizing capital markets in the US,” said
Overstock.com and tZERO CEO Patrick M. Byrne.
Gloria E. Gebbia, majority shareholder and board member of
Siebert Financial Corp. said, “We are excited and view this
agreement as an excellent growth opportunity for Siebert to connect
with Overstock's customers, many of whom are women grappling with
financial challenges including retirement planning. Through this
initiative, we will continue to honor the trailblazing legacy of
our founder, Muriel F. Siebert, who obtained a seat on the NYSE to
address the pay inequality she experienced working on Wall Street.
So, we are especially pleased to optimize the Overstock consumer
experience by offering discounted trading, along with other quality
retail brokerage services, designed to meet the financial and
investing needs of all our clients.”
In addition to discounted trading, Club O Gold members also
enjoy free shipping on every order and at least 5 percent rewards
on every purchase. Club O Gold membership is available for $19.95
annually.
Overstock changed previously-announced plans of creating an
additional loyalty program tier to house these brokerage services,
in order to extend the discounted trading opportunity to the entire
Club O Gold member base.
Notice to InvestorsThis communication is
provided for informational purposes only and is neither an offer to
sell nor a solicitation of an offer to buy any securities in the
United States or elsewhere.
About Overstock.com
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A
Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake
City, Utah that sells a broad range of products at low prices,
including furniture, décor, rugs, bedding, and home improvement. In
addition to home goods, Overstock.com offers a variety of products
including jewelry, electronics, apparel, and more, as well as a
marketplace providing customers access to hundreds of thousands of
products from third-party sellers. Additional stores include Pet
Adoptions and Worldstock.com dedicated to selling artisan-crafted
products from around the world. Forbes ranked Overstock in its list
of the Top 100 Most Trustworthy Companies in 2014. Overstock
regularly posts information about the company and other related
matters under Investor Relations on its website,
http://www.overstock.com.
About tZERO
t0.com, Inc. (“tZERO“) is a majority owned subsidiary of
Overstock.com, focusing on the development and commercialization of
financial technology (FinTech) based on cryptographically‐secured,
decentralized ledgers – more commonly known as blockchain
technologies. Since its inception, tZERO has pioneered the effort
to bring greater efficiency and transparency to capital markets
through the integration of blockchain technology. More information
is available at tZERO.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered trademarks of
Overstock.com, Inc. O.biz and Space Shift are also
trademarks of Overstock.com, Inc. Other service marks, trademarks
and trade names which may be referred to herein are the
property of their respective owners.
This press release contains certain forward‐looking statements
relating to the implementation of the financial services
advertising agreement among tZERO, Speedroute and Siebert and the
services to be offered thereunder. Such forward‐looking statements
include all statements other than statements of historical fact and
are typically identified by words or phrases such as “intends,”
“expects,” “will” and similar expressions. Actual results may
differ materially from such forward‐looking statements as a result
of certain risks and uncertainties. The forward-looking statements
in this press release are made only as of the date hereof, and
neither tZERO, Speedroute, nor Overstock undertake any obligation
to update or revise the forward‐looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Additional information regarding factors that could materially
affect results and the accuracy of the forward‐looking statements
contained herein may be found in Overstock’s Form 10‐Q for the
quarter ended September 30, 2017, which was filed with the SEC on
November 8, 2017, and any subsequent filings with the SEC..
SOURCE: Overstock.com, Inc.
Media Contact:Mark Delcorps, Overstock.com,
Inc.+1 (801) 947-3564pr@overstock.com
Investor Contact:ir@overstock.com
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