141 Capital, Inc. Launches New Brokerage Subsidiary
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.
[USPRwire, Mon Feb 08 2010] 141 Capital, Inc. (OTCPK: 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 a 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 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
1585 Ellinwood St
Des Plaines, IL 60016