Day: April 4, 2022

Gotrade is an investing platform which allows users to trade fractional shares of US stocks.=

JAKARTA, Indonesia, April 04, 2022 (GLOBE NEWSWIRE) — Gotrade – the investing app on a mission to make investing accessible to everyone, everywhere – has launched officially in Indonesia through a partnership with Valbury Asia Futures, a Bappebti licensed broker.

• Gotrade allows users to invest in US stocks without commissions or hidden fees
• Gotrade Indonesia marks its first entry into a local market
• Gotrade Indonesia, launched in partnership with local broker Valbury, the Jakarta Futures Exchange and the state-backed Futures Clearing House of Indonesia, is the first platform in Indonesia to offer market access to the US stock market through fully backed contracts
• Gotrade Indonesia’s partners and arrangements are regulated by Bappebti

Andrew Haryono, the owner of the Valbury group, a financial services conglomerate, joins Gotrade as co-founder Gotrade Indonesia mimics its flagship product Gotrade Global in that it enables users in Indonesia to invest as little as $1 in stocks like Tesla, Apple, Netflix et al. on an easy-to-use, commission-free platform.

Investing for everyone

Gotrade was founded in 2019 by Rohit Mulani, Norman Wanto and David Grant with the mission to make investing fun, fair and simple for everyone, everywhere. Together, they developed the Gotrade app to allow users globally to buy fractional shares in global giants on the NYSE and NASDAQ from as little as $1.

Gotrade raised a $7 million seed round in 2021 from LocalGlobe and Social Leverage, both early backers of Robinhood. It also received support from local investors like Kevin Aluwi and super-angel Arya Setiadharma. Once it received clearance from the Labuan Financial Services Authority of Malaysia, Gotrade rolled out an invite-only platform in March 2021, launching globally in September 2021.

Just 6 months since the launch of its global product, Gotrade has racked up hundreds of thousands of users globally and announced the launch of its first local product – Gotrade Indonesia.

Gotrade picked Indonesia as the first market for its local product simply because it was there that the problem it set out to solve seemed most pressing with investing being far from fair or simple.

“Investing in Indonesia and across Southeast Asia is broken. Over 600 million people can’t access quality investment products at fair prices. They are subject to mutual funds with expense ratios exceeding 5%, savings products like gold with 3% spreads and hidden fees peppered across their portfolios – not just by the incumbents but also by the companies that are meant to be the disruptors. We believe that investing should be fair and users should not have to bear these predatory costs,” said Gotrade founder Rohit Mulani.

Breaking barriers in Indonesia

Interestingly, local stockbrokers are not permitted to offer US stocks within Indonesia. However, local derivative brokers, regulated by Bappebti, are permitted to offer derivatives of US stocks within Indonesia.

This led Gotrade to partner with Valbury Asia Futures, the Jakarta Futures Exchange and the Futures Clearing House of Indonesia – all regulated by Bappebti, to create Indonesia’s first fully backed US stock contracts that gives end users market access to US stocks.

What this means is that all trades on Gotrade Indonesia result in a contract between users and Valbury. Valbury then enters into a corresponding trade with Alpaca Securities LLC, a FINRA licensed broker-dealer in the US. As both of these trades occur in real-time, all trades are executed at the National Best Bid and Offer as per the US Securities Exchange Commission’s regulations. Gotrade does not add any spread to this price.

As the trades execute directly in the United States, all contracts on Gotrade are fully backed by real shares held in the US. For every share (or fraction of it) held by a user on Gotrade, there is a corresponding share held by Valbury in a segregated brokerage account at Alpaca Securities LLC. This arrangement is supervised by Bappebti.

Gotrade does not offer leverage to its users and passes through the dividends Valbury receives from Alpaca Securities LLC for its positions directly to users minus the 15% dividend tax withheld by the Inland Revenue Service.

Gotrade Indonesia is the first platform in Indonesia to offer this market access for US stocks. Historically, people who wanted to buy US shares from Indonesia would have had to use a foreign stockbroker or trade CFDs locally with the latter resulting in substantial hidden fees of up to 1% per trade built into the bid-ask spread on the stock.

The team at Gotrade, JFX, KBI and Valbury worked closely with the team at Bappebti to enable dollar-based investing and 9-decimal places fractional share investing – in another first for the industry. For instance, if Tesla is trading at $1,000/share, you can buy 1/1,000th of a Tesla share with $1.

As per Bappebti regulations, funds are sent to the state-backed Futures Clearing House of Indonesia with trades made through Valbury and registered on the Jakarta Futures Exchange.

“Gotrade Indonesia is the first investment platform in Indonesia that has been built around the core principles of transparency, fairness and low fees. I’m excited about the launch of Gotrade Indonesia which is the best way for Indonesians to access the biggest capital market in the world, something we’ve been unable to do for far too long,” said Felicia Putri Tjiasaka, the co-founder Ternak Uang, Indonesia’s leading investment education application.

“A core part of the Jakarta Futures Exchange’s vision is to produce innovative products as an alternative means of investment. We are very excited to announce our partnership with Gotrade that would allow Indonesians to invest in names like Tesla, Apple and Netflix for as little as $1. The ability to invest in US stocks will greatly complement the existing investment landscape in Indonesia so users can have a balanced and diversified portfolio both globally and across asset classes,” said Stephanus Paul Lumintang, President Director of the Jakarta Futures Exchange.

Fajar Wibhiyadi, President Director of Kliring Berjangka Indonesia (Persero) said “We of course appreciate what Valbury Asia Futures is doing with this new initiative. We hope the launch of Gotrade Indonesia could be a positive catalyst for a better investment climate in Indonesia. We also hope that Valbury Asia Futures would, at the same time, educate the market to understand this new financial instrument better. KBI, as a clearing institution, will play our part as per the existing regulations, namely related to the Guarantor role and Transaction Settlement.

Creating a new standard for transparency

In line with its bid to bring transparency to the industry to make investing fair, Gotrade promises no hidden fees, ever and publishes all its fees openly.

Whilst Gotrade Indonesia does not add spreads or commissions on its trades, it does pass on a PPN fee of $0.10 and Jakarta Futures Exchange transaction reporting fee of $0.02 per trade.

It generates revenue by charging 1.20% in FX fees when users deposit their funds in Indonesian Rupiah which is then converted into US dollars so they can be traded on. Included in this fee, Gotrade powers instant deposits – enabling users to capitalise on trading opportunities without having to pre-fund their accounts. Gotrade is also currently testing a premium membership product called Gotrade Black that gives its users access to candlestick charts, analyst ratings, target prices and a risk measurement for a $2 monthly membership fee.

A new-old co-founder

Together with the launch of Gotrade Indonesia, Gotrade announced that Andrew Haryono was being recognized as a co-founder of the company. Andrew is the owner of the Valbury Group – the same Valbury that is powering the Gotrade Indonesia platform. The Valbury Group is a financial conglomerate in Indonesia which owns securities, derivatives and capital management arms.

“Andrew has been involved since the earliest days of the business in 2019 and has been instrumental in helping us achieve the success we have had so far. With the Valbury partnership and the launch of Gotrade Indonesia, we’ve been able to take our partnership to a new level and everyone felt it was time to recognise him for the pivotal role he’s played in the company’s past as well as the role he will continue play in the company’s future,” said Gotrade founder Rohit Mulani.

“The team at Gotrade is on a mission to completely reinvent investing for millions of Indonesians. I’ve been in the industry for over 20 years but as soon as I met the team in 2019, I knew that this was the team that would transform the industry. I am thrilled to be a part of the team at Gotrade and am excited to be a part of the next phase of the company’s hypergrowth,” said Gotrade co-founder Andrew Haryono.

Industry veterans jump onboard

Gotrade is rapidly building one of the most experienced teams in the wealth management space in Southeast Asia.

In addition to incoming co-founder Andrew Haryono who boasts over 23 years of financial services experience, David Grant was the former CEO of Charles Schwab Singapore, also boasting over 20 years of retail brokerage experience.

Gotrade also announced 2 senior executive hires with Tan Hui Lynn and Jeremy Ng joining Gotrade as General Counsel and Chief Financial Officer respectively.

Tan was a former partner at Zaid Ibrahim & Co, Malaysia’s leading law firm prior to joining Gotrade whilst Ng was previously the financial controller for Asia Pacific at Oanda prior to taking up his new role.

About Gotrade

Gotrade Financial Inc. provides an innovative app-based investing service to retail investors, to invest as little as $1 in fractional shares of US stocks on an easy-to-use, commission-free mobile platform. Gotrade launched in 2019 with the vision of making investing fun, fair and simple for everyone, everywhere. Instruments on Gotrade are offered through Gotrade Securities Inc. Instruments on Gotrade Indonesia are offered through PT Valbury Asia Futures, a Bappebti licensed broker-dealer established in 1999 in Indonesia.

– ENDS –

For inquiries please contact support@heygotrade.com

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• Featured Image for Gotrade Technologies

Leading Climate Experts to Advise on Verisk’s Development of Enterprise-Wide Climate Change Solutions

Jersey City, N.J., April 04, 2022 (GLOBE NEWSWIRE) — To help organizations better understand the impacts of climate change and inform their resilience and sustainability efforts, Verisk (Nasdaq: VRSK) has formed the Verisk Climate Advisory Council. Council members will provide strategic guidance and feedback on climate change solutions Verisk is developing, such as the climate conditioning of the company’s extreme event models, and present research, specific to each members’ specialty area, regarding the evolving state of climate change. The ongoing research by the experts on this council will help ensure that Verisk is well-informed on the latest climate change research and analyses to help drive its development of industry-leading products and services.

The Verisk Climate Advisory Council is currently comprised of the following climate experts:

• Dr. Cindy Bruyère is the Director for the Capacity Center for Climate and Weather Extremes (C3WE) at the National Center for Atmospheric Research (NCAR). She was the 2020-2021 Scientific and Engineering Leadership Fellow for the University Corporation for Atmospheric Research (UCAR), and she is a Research Fellow at the North-West University, South Africa. Her research focuses on the impact of weather and climate extremes.

• Dr. Henk Dijkstra is a professor of dynamical oceanography at the Institute for Marine and Atmospheric research Utrecht and the Director of the Centre for Complex Systems Studies at Utrecht University. His research focuses on understanding the physics of the large-scale ocean circulation and the role of the ocean in the climate system through fundamental studies using concepts and methods from complex systems science. He is a member of the Royal Netherlands Academy of Arts and Sciences and in 2005, he received the Lewis Fry Richardson medal from the European Geosciences Union.

• Dr. Kenneth E. Kunkel is a research professor of atmospheric sciences at North Carolina State University and lead scientist for assessments with the North Carolina Institute for Climate Studies. His research has focused on climate variability and change, particularly related to extreme weather and climate events. He is an author of several chapters of the Third and Fourth U.S. National Climate Assessments. He is a Fellow of the American Meteorological Society.

• Dr. Park Williams is an associate professor in the Department of Geography at the University of California, Los Angeles (UCLA). Park is a hydroclimatologist whose research aims to understand the causes and consequences of hydrological extremes such as drought. His expertise is in the causes and consequences of drought and how this has transformed the American West as temperatures rise and how we should adapt to a future of more frequent droughts and dangerous wildfires.

“At Verisk, we have long engaged with leading scientists and engineers, often alongside customers, to ensure the solutions we create reflect the latest science, freshest perspectives and cutting-edge technologies,” said Mark Anquillare, COO and group president, Verisk. “Clients across a wide range of industries that need to understand and manage risk from weather, climate, and environmental perils rely on Verisk for analytic insights and science-based solutions to help assess and mitigate the complex risks associated with a changing climate. We’re fortunate to have the benefit of the council members’ expertise to support this important work.”

Verisk scientists, product developers and engineers enable global customers from the insurance industry to governmental agencies to Fortune 100 companies to better understand, anticipate, manage and react to weather- and climate-related risk. The company develops unique data sets, models and operational expertise in forecasting and observational systems, a wide range of indices, global climate models, weather and risk analysis and more. The Verisk Climate Advisory Council will help address customers’ unique needs to tackle this significant global issue. Verisk’s deep industry expertise, combined with research-backed insight from these highly respected scientists, will inform the company’s decision-making for products and services related to resilience and sustainability.

“Verisk has developed leading extreme event models for addressing risk and continued collaboration with outside experts is critical to maintaining this position in the market,” said Bill Churney, president of Extreme Event Solutions at Verisk. “We’re excited to begin working with the council members, and we’re confident that with their feedback we will not only build more sophisticated solutions that reflect our best understanding of the future climate but also offer enhanced value to help our clients better address this critical issue facing society.”

About Verisk

Verisk (Nasdaq: VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

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• Verisk Climate Advisory Council

For more information, contact:
Mary Keller
Verisk
617-267-6645
mary.keller@verisk.com

World’s leading energy and industrial companies advising General Fusion on the development of practical commercial fusion power

VANCOUVER, British Columbia, April 04, 2022 (GLOBE NEWSWIRE) — General Fusion announced today the formation of a unique Market Development Advisory Committee (MDAC) to guide the development of its commercial fusion power plant. MDAC members include utilities serving millions of customers, innovative renewable energy providers, and companies leading the decarbonization of heavy industry. These companies span global markets in need of carbon-free, on-demand power to meet increasingly ambitious net-zero carbon emission policy goals. Many bring extensive expertise in evaluating, deploying, and operating commercial power generation assets.

General Fusion’s global network of investors and government, institutional, and industrial partners enable the company to pursue a more ambitious fusion technology commercialization program. Through the MDAC, General Fusion is proactively engaging the market to form a portfolio of prospective early fusion adopters to ensure that the performance and specifications of its Magnetized Target Fusion power plant will align with customer needs. The MDAC benefits its membership by providing a mechanism to monitor the development of General Fusion’s technology, understand when and how to include fusion in their new energy generation plans, guide the development of appropriate regulatory frameworks, and influence the company’s future product development.

Launched with nearly a dozen member companies spanning North America, Asia Pacific, and Europe, the MDAC will support General Fusion in designing a practical and compelling fusion power plant that can be deployed by the early 2030s. The MDAC will also recommend and support opportunities to evolve public energy policies promoting the early adoption of commercial fusion power plants as part of the energy transition to net-zero carbon.

“Now is the time to develop the global market for fusion energy. Companies are increasingly recognizing that to achieve their net-zero mandates and aspirations, they’re going to need fusion,” said Christofer Mowry, CEO, General Fusion. “Our Market Development Advisory Committee will help guide General Fusion in addressing this need using a partnership and collaboration strategy.”

“Bruce Power is committed to advancing a net-zero future and clean energy technologies that are essential to reduce greenhouse gas emissions,” said Richard Horrobin, Vice President, Business Development & Energy Innovation, Bruce Power. “Fusion is a key emerging technology that is complementary to the emissions-free electricity we produce. We look forward to applying our experience and expertise in innovation, clean energy production, and policy development to collaborate with General Fusion.”

“The path to net-zero means developing new sources of clean energy and reducing our reliance on imported fossil fuels, which is all the more important given the current issues in global energy markets and the situation in Ukraine,” said Michael Lewis, CEO, E.ON UK. “Energy-intensive industrial customers particularly will need alternative technologies if they are to meet net-zero targets and remain competitive in their own markets, and as the UK’s largest electricity provider, we are pleased to have the opportunity to work with General Fusion to look at how the market for their products could evolve in the UK and develop a new way to take action for the climate.”

“H2 Green Steel is on a mission to undertake the global steel industry’s greatest ever technological shift,” said Henrik Henriksson, CEO, H2 Green Steel. “That’s why we are teaming up with General Fusion to explore the global scalability of our technology, not limited by in-country power generation constraints. Fusion energy has the potential to accelerate the decarbonization of steel production. We look forward to working together with General Fusion on the practical application of fusion energy in heavy industry.”

“Specializing in renewable energy, pioneering sustainable and innovative technologies is in our DNA,” said Riccardo Toto, General Manager, Renexia. “That is why we have joined General Fusion’s international committee, to support bringing clean fusion energy technology to market. We will represent the Italian energy sector on the committee. We hope that fusion energy will soon represent a further opportunity to promote an energy mix less dependent on fossil fuels.”

“Nuclear power currently provides over 40% of the electric energy TVA produces for the people and businesses we serve in seven states,” said Joe Hoagland, Vice President for Innovation & Research, Tennessee Valley Authority (TVA). “Developing advanced nuclear and other technologies is important for TVA’s energy system of the future. The recent support of the United States Congress for public-private partnerships that promise to accelerate the growth of fusion is encouraging. We will continue exploring business relationships to innovate new clean-energy technologies in support of TVA’s aspirational goal of net-zero carbon emissions by 2050.”

General Fusion’s Magnetized Target Fusion removes the traditional technological barriers to delivering economical fusion power plants. The company recently reached a critical technology milestone, demonstrating the advanced engineering capabilities needed to scale its compression prototype to a full power system. Later in 2022, the company anticipates celebrating another milestone when it breaks ground on its Fusion Demonstration Plant at the UK Atomic Energy Authority’s Culham Centre for Fusion Energy. The Fusion Demonstration Plant will create the template for General Fusion’s first commercial power plant. It will confirm the performance and economics of the company’s technology at a power-plant-relevant scale.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

General Fusion’s Market Development Advisory Committee (MDAC) member companies

About General Fusion
General Fusion pursues a fast, efficient, and collaborative path to practical fusion power. We are completing an aggressive development plan to deliver economical carbon-free fusion energy with our proprietary Magnetized Target Fusion technology by the 2030s. Our mission is supported by a global syndicate of leading institutional investors, venture capital firms, and technology pioneers, together with governments across North America and Europe. General Fusion collaborates with a global network of partners to create a sustainable future built on cleaner energy, better materials, and a comprehensive life cycle approach to the world’s infrastructure. Founded in 2002, we are headquartered in Vancouver, Canada, with additional centers co-located with internationally recognized fusion research laboratories near London, U.K., and in Oak Ridge, Tennessee, U.S.A. Learn more at www.generalfusion.com.

General Fusion Media Relations
media@generalfusion.com
+1-866-904-0995

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