From the Wires
Zions Direct Record Year For Auction Platform
By: PR Newswire
Jan. 18, 2013 05:01 PM
SALT LAKE CITY, Jan. 18, 2013 /PRNewswire/ -- In 2012, online broker-dealer Zions Direct experienced substantial growth in its auction platform, which allows both retail and institutional customers to purchase securities in its daily web-based auctions. Since the inception of its auction platform in 2007, Zions Direct has sold over $2 billion of securities in over 7,500 auctions of FDIC-insured CDs, municipal bonds, corporate bonds, preferred stock, and US agencies. Over the course of the past six years, offerings have expanded from one auction per day to an average of 15 to 20 per day, with over 3,000 successful auctions in 2012 alone.
"The auction platform continues to be an innovative method to sell fixed income securities to institutional and retail customers," said W. David Hemingway, Chief Investment Officer of Zions Bancorporation and Chairman of the Board for Zions Direct. "We look forward to expanding the platform over the coming months and years."
About Zions Direct
Investment products and services offered through Zions Direct, member of FINRA/SIPC.
SOURCE Zions Direct
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