Siebert Financial Corp. Set to Join the Russell 3000® Index
21 June 2018 - 12:19AM
Business Wire
Siebert Financial Corp. (Nasdaq: SIEB) is pleased to announce it
is set to join the broad-market Russell 3000® Index at the
conclusion of the Russell U.S. Indexes annual reconstitution,
effective after the U.S. market opens on June 25, according to a
preliminary list of additions posted on June 8, 2018.
Annual Russell U.S. Indexes reconstitution captures the 4,000
largest U.S. stocks as of May 11, ranking them by total market
capitalization. Membership in the Russell 3000® Index, which
remains in place for one year, means automatic inclusion in the
large-cap Russell 1000® Index or small-cap Russell 2000® Index as
well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell U.S. Indexes
primarily by objective, market-capitalization rankings and style
attributes.
Siebert Financial Corp. was founded in 1967 by Muriel F.
Siebert, the first woman to own a seat on the New York Stock
Exchange (NYSE) and the first to head one of its member firms,
Muriel Siebert & Co., Inc. Muriel Siebert was also a pioneer by
transforming her firm into a discount brokerage in 1975 on the
first day the NYSE allowed members to negotiate commissions.
Gloria E. Gebbia, controlling shareholder and board member of
Siebert Financial Corp. said, “We are extremely pleased for Siebert
Financial to be included in the FTSE’s Russell 3000® list, and we
look forward to heightened visibility among the investing
community. This development marks another major milestone in the
storied history of the firm. It demonstrates the hard work and
efforts of our team to increase shareholder value while building a
world-class institution dedicated to serving client financial
needs.”
Russell U.S. Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately $9
trillion in assets are benchmarked against Russell U.S. Indexes.
Russell U.S. Indexes are part of FTSE Russell, a leading global
index provider.
For more information on the Russell 3000® Index and the Russell
U.S. Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
About Siebert Financial Corp.Siebert Financial is a
holding company that conducts its retail discount brokerage
business through its wholly-owned subsidiary, Muriel Siebert &
Co., Inc. The firm became a member of the NYSE in 1967, when Ms.
Siebert became the first woman to own a seat on the Exchange. In
addition, in 2014 the Company began business as a registered
investment advisor through a wholly-owned subsidiary, Siebert
AdvisorNXT, Inc. Siebert Financial, based on Wall Street in New
York City, serves clients through its branch offices located
nationwide and globally online. https://www.siebertnet.com/
Siebert’s Cautionary note regarding forward-looking
statements
Statements in this press release that are not statements of
historical or current fact constitute “forward looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward looking statements involve risks and
uncertainties and known and unknown factors that could cause the
actual results of the Siebert Financial Corp. (the “Company”) to be
materially different from historical results or from any future
results expressed or implied by such forward looking statements,
including without limitation: changes in general economic and
market conditions; changes and prospects for changes in interest
rates; fluctuations in volume and prices of securities; changes in
demand for brokerage services; competition within and without the
brokerage business, including the offer of broader services;
competition from electronic discount brokerage firms offering
greater discounts on commissions than the Company; the prevalence
of a flat fee environment; limited trading opportunities; the
method of placing trades by the Company’s customers; computer and
telephone system failures; the level of spending by the Company on
advertising and promotion; trading errors and the possibility of
losses from customer non-payment of amounts due; other increases in
expenses and changes in net capital or other regulatory
requirements. As a result of these and other factors, the Company
may experience material fluctuations in its operating results on a
quarterly or annual basis, which could materially and adversely
affect its business, financial condition, operating results, and
stock price, as well as other risks detailed in the Company’s
filings with the Securities and Exchange Commission (“SEC”).
Accordingly, investors are cautioned not to place undue reliance on
any such “forward-looking statements.” The Company undertakes no
obligation to update the information contained herein or to
publicly announce the result of any revisions to such
“forward-looking statements” to reflect future events or
developments. An investment in the Company involves various risks,
including those mentioned above and those, which are detailed from
time to time in the Company’s SEC filings, copies of which may be
obtained from the Company or through the SEC’s website.
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.
About FTSE RussellFTSE Russell is a leading global index
provider creating and managing a wide range of indexes, data and
analytic solutions to meet client needs across asset classes, style
and strategies. Covering 98% of the investable market, FTSE Russell
indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around
the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $16.2
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
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version on businesswire.com: https://www.businesswire.com/news/home/20180620005820/en/
FOR: SIEBERT FINANCIAL CORP.Investors:Yesenia Berdugo,
212-644-2435Office of the AdministratororMedia:LHK Communications,
LLCLaura Hynes-Keller,
212-758-8602laurahk@lhkcommunications.com
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