Platform will offer US equities trading to Club O Gold Loyalty members at $1.99 per trade; non-Club O Members at $2.99 per trade
SALT LAKE CITY, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) and Siebert Financial Corp. (NASDAQ:SIEB) announce the launch of the Muriel Siebert & Co. Inc. (Siebert) discounted online trading platform through Overstock.com’s FinanceHub™.
The platform, which was announced last December, allows any investor in America accessing the Siebert portal through Overstock.com’s FinanceHub™ the opportunity to conduct trades of US equities at discounted prices.
Members of Overstock’s Club O Gold loyalty program will be charged $1.99 per trade, while non-Club O Gold members will be charged $2.99 per trade.
“Muriel Siebert was a woman who stood for integrity in capital markets, and I am pleased for Overstock.com to be associated with the firm she founded. We have integrated so as to be able to bring to the public this discount trading platform, priced with an eye towards re-democratizing capital markets in the US,” said Overstock.com and tZERO CEO Patrick M. Byrne.
Gloria E. Gebbia, majority shareholder and board member of Siebert Financial Corp. said, “We are excited and view this agreement as an excellent growth opportunity for Siebert to connect with Overstock's customers, many of whom are women grappling with financial challenges including retirement planning. Through this initiative, we will continue to honor the trailblazing legacy of our founder, Muriel F. Siebert, who obtained a seat on the NYSE to address the pay inequality she experienced working on Wall Street. So, we are especially pleased to optimize the Overstock consumer experience by offering discounted trading, along with other quality retail brokerage services, designed to meet the financial and investing needs of all our clients.”
In addition to discounted trading, Club O Gold members also enjoy free shipping on every order and at least 5 percent rewards on every purchase. Club O Gold membership is available for $19.95 annually.
Overstock changed previously-announced plans of creating an additional loyalty program tier to house these brokerage services, in order to extend the discounted trading opportunity to the entire Club O Gold member base.
Notice to Investors
This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.
t0.com, Inc. (“tZERO“) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically‐secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at tZERO.com.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward‐looking statements relating to the implementation of the financial services advertising agreement among tZERO, Speedroute and Siebert and the services to be offered thereunder. Such forward‐looking statements include all statements other than statements of historical fact and are typically identified by words or phrases such as “intends,” “expects,” “will” and similar expressions. Actual results may differ materially from such forward‐looking statements as a result of certain risks and uncertainties. The forward-looking statements in this press release are made only as of the date hereof, and neither tZERO, Speedroute, nor Overstock undertake any obligation to update or revise the forward‐looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Additional information regarding factors that could materially affect results and the accuracy of the forward‐looking statements contained herein may be found in Overstock’s Form 10‐Q for the quarter ended September 30, 2017, which was filed with the SEC on November 8, 2017, and any subsequent filings with the SEC..
SOURCE: Overstock.com, Inc.
Mark Delcorps, Overstock.com, Inc.
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