At one time considered to be an integral aspect of an investor’s portfolio, stock dividends have taken a back seat in recent years as investors turned to shares that offered greater capital appreciation. The current volatile market, however, has highlighted the value of including dividend-paying stocks in a balanced portfolio. This is especially true in light of the fact that the benchmark for the U.S. market, Standard & Poor’s 500 Index, has in effect delivered flat returns since 2000.
Honolulu-based Alexander & Baldwin Inc. has announced its intent to move the trading of its stock from NASDAQ to the New York Stock Exchange (NYSE), effective 1 October under the new ticker symbol of “AXB”. While not neglecting to thank NASDAQ for its past support, chairman and chief executive officer of Alexander & Baldwin, Allen Doane expressed his confidence that this move would provide an efficient and visible platform for the company’s shareholders.
Ongoing developments in information technology have resulted in dramatic changes in the business environment of stock exchanges. An increase in algorithmic trading is seen as a driving force behind many of these changes that have resulted in established stock exchanges investing millions of dollars in information technology, as well as lowering commissions and trade processing fees in order to remain competitive and attract algorithmic traders.
In an effort to integrate the financial markets of the thirty European Economic Area member states and increase cross-border investment orders, the European Union has put into operation the Markets in Financial Instruments Directive (MiFID). The directive has a number of key elements that will apply to investment banks, brokers, portfolio managers and corporate finance companies, as well as some commodities and derivatives related companies.
With Monday 1 September marking the beginning of the first full week of operation for the new trading platform Turquoise, chief executive, Eli Lederman, conceded that the Turquoise team is pleased with how quickly the market is responding to their services, but noted that they have been paying close attention to stability, reliability and performance and that market share will follow. He anticipates that the company will exceed its initial goal of capturing five percent of market share by the end of the year.
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