141 Capital, Inc. Launches New Brokerage Subsidiary
February 02 2010 - 9:45AM
Marketwired
141 Capital, Inc. (PINKSHEETS: ONCP) -- 141 Capital announced today
that it has taken another step toward becoming an Independent
Introducing Broker ("IIB") by forming a wholly owned subsidiary,
"Brokers At 141, Inc." as the first entity to comprise 141 Capital,
Inc.'s brokerage division.
Errol Stone, 141 Capital CEO explained that the establishment of
the company's brokerage division via a wholly owned subsidiary was
an expected and necessary step to streamline accounting and
compliance protocol and yielding organizational benefits. "Forming
a subsidiary that is solely responsibility for trading customer
accounts for futures and options, will simplify accounting and
bookkeeping as well as simplify NFA compliance requirements for 141
Capital and should expedite the filing with the NFA," he noted.
As previously noted, Brokers At 141, Inc. anticipates that it
will be licensed by the time that TradeTablet, the trading platform
currently being developed by 141 Capital's partially-owned
subsidiary (Wind River Development Corporation), is available for
commercial use.
About 141 Capital, Inc. (www.141capital.net)
141 Capital, Inc. is a publicly traded company based in Chicago.
Its primary operations involve commodity trading for its own
account. 141 will be registering as an Introducing Broker with the
National Futures Association to enable it to offer futures and
options products to the general public. To attract customers, 141
will be utilizing TradeTablet and Interactive Brokers' product
line.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
141 Capital, Inc. Errol Stone 312-513-4365
141 Capital (GM) (USOTC:ONCP)
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