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Stock Exchange: Company Affairs
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A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges ... provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts and other pooled investment products and bonds. To be able to trade a security on a certain stock exchange, it has to be listed there. Usually there is a central location at least for recordkeeping, but trade is less and less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of speed and cost of transactions. Trade on an exchange is by members only.
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A stock exchange ... provides facilities for the issue and redemption of securities and also provides for the payment of income and stock dividends. In order to be able to trade a security on an exchange, a company must be listed. Companies that are not listed on an exchange are sold Over the Counter (OTC). These companies are typically smaller and riskier because they do not meet the requirements to be listed on a stock exchange. This is actually the usual way that bonds are traded. In dealing with Over the Counter trading brokers and dealers have to negotiate directly among themselves via the internet or via the phone.(There are no traders waiting to buy or sell unlisted securities). The National Association of Securities Dealers (NASD) monitors the transactions to ensure there is no illegal activity or stock price manipulation.
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To become a stockbroker, a company has to be admitted to membership by the Council of the Jamaica Stock Exchange. Senior executives, shareholders and employees dealing with the public have to pass a “ Fit and Proper” test and the firm has to meet certain basic financial requirements on an ongoing basis. Only approved representatives of stock broking firms will be allowed to trade on the floor of the Jamaica Stock Exchange. Further, trading through a broker will be beneficial to you as you can get the use of a centralised market place.
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Seanergy Maritime Corp. was recently organized for the purpose of effecting a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination with an unidentified operating business. The Company intends to focus on identifying unidentified operating business in the maritime shipping industry, but will not be limited to pursuing acquisition opportunities only within that industry.
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