Zions Direct Auctions
On March 27, 2007, Zions Direct announced it would begin using an auction platform to offer FDIC-insured CDs. The process allows investors to bid on securities' price or yield, similar to the process used by the U.S. Treasury. In addition to auctioning CDs, Zions Direct has also used the platform to offer medium term notes and the employee stock option valuation instrument, ESOARS. As of April 15, 2008, Zions Direct had sold more than $500 million in securities through their auction platform.
Read more about this topic: Zions Direct
Famous quotes containing the word direct:
“The frequency of personal questions grows in direct proportion to your increasing girth. . . . No one would ask a man such a personally invasive question as “Is your wife having natural childbirth or is she planning to be knocked out?” But someone might ask that of you. No matter how much you wish for privacy, your pregnancy is a public event to which everyone feels invited.”
—Jean Marzollo (20th century)