Industry Financial Services Parent organization Zions Bank | Website Zions Direct | |
Type Non-bank subsidiary of Zions Bank, a subsidiary of Zions Bancorporation: Public (NASDAQ: ZION) Key people W. David Hemingway, Zions Bancorporation EVP, Capital Markets and Investments Products Securities Auctions Bond Trading
Equities Trading Headquarters Salt Lake City, Utah, United States Founded 1873, Salt Lake City, Utah, United States | ||
About zions direct
Zions Direct is an online broker-dealer subsidiary of Salt Lake City, Utah, United States based Zions Bank, a subsidiary of Zions Bancorporation that specializes in offering securities for the self-directed and fixed income investors. Zions Direct allows clients to invest in stocks, bonds, mutual funds, Federal Deposit Insurance Corporation-insured certificates of deposit, and exchange-traded funds. Clients invest online, through a financial representative, or by bidding on an auction platform. Zions Direct and Zions affiliates work closely together to meet their customers investment and banking needs by providing money market, checking, and other banking products. Zions Direct is regulated by the Financial Industry Regulatory Authority (FINRA).
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Zions Direct auctions
On March 27, 2007, Zions Direct announced it would begin using an auction platform to offer FDIC-insured CDs. The process allows investors to bid on securities' prices or yields, similar to the process used by the U.S. Treasury. In addition to auctioning CDs, Zions Direct has also used the platform to offer medium term notes and the employee stock option valuation instrument, ESOARS. As of April 15, 2008, Zions Direct had sold more than $500 million in securities through their auction platform.