Individual Investors To Get Power of Wall Street Titans
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Software company I-Cap Inc. unveiled a new system Monday that stands to give individual investors the same treatment as Wall Street's biggest movers and shakers.
I-Cap introduced a new trading system that will allow individuals to eventually trade all stocks publicly listed on the Nasdaq, New York and American stock exchanges before and after the market opens. That gives small investors an opportunity to capitalize on news that emerges outside of trading hours that can sometimes substantially move a stock's value.
Since I-Cap is still programming its trading system, only shares of the 30 companies that make up the Dow Jones industrial average can currently be traded.
The only online broker to sign up for the service so far is GL Barrett & Associates of Tampa, Fla., which charges a $25 commission. However, I-Cap hopes to add online brokers soon.