Who We Are?
eCrowdex began as a search for a way to automate trading of unlisted securities in Canada. In the process of finding a solution, we found a number of under serviced niche markets of interest to retail investors in the United States and elsewhere. These niche markets include: municipal bonds, foreign currency, unlisted and foreign securities, Put & Call options and after-hours trading.
Finding an economical solution for after-hours trading led to consolidating certain functions of the exchange, broker & clearing house into an integrated exchange that operates 24 hours a day with cash T+0 settlement. The eCrowdex concept received a boost from a comment about settlement that Alan Greenspan made to the Financial Markets Conference on October 16, 2000. Mr. Greenspan referred to settlement on T+0 as the ultimate goal.
While eCrowdex incorporates certain broker functions such as client order entry and client accounting, eCrowdex does not compete with traditional broker activities such as underwriting, arbitrage, trading, market making, portfolio management, investment research and financial advice. It is anticipated that brokers will be market makers for many of the securities that trade on eCrowdex.
We believe that peer to peer and 24-hour trading for securities and foreign currencies is presently unavailable to retail investors in the United States. At this time, none of the exchanges offer 24-hour a day trading. There are 24-hour order entry systems but we believe that none of these systems presently provide for 24-hour trading.
At present, extended after-hours trading is limited to large investors and financial institutions. A Wall Street Journal advertisement provides a glimpse of who trades after-hours: Soros Financial Management placed an advertisement for a night execution trader to work the 2am to 10am shift. eCrowdex will provide retail investors with access to the after-hours market.
eCrowdex was created by a small group of developers, including Russell Martel and Damon Malkiewicz.
Meet The Team
Russell Martel
President / Director of eVirginia Exchange Inc.Mr. Martel’s work taking small companies through the maze of securities regulations in Canada led to the development of eCrowdex. Mr. Martel’s particular expertise relating to the eCrowdex project includes 18 years as a broker in Toronto and Calgary including two years as controller of St. Lawrence Securities, a member of the Toronto Stock Exchange. Mr. Martel implemented the Vancouver Stock Exchange brokerage package at Columbia Securities in Calgary. Mr. Martel has also served as a governor of the Alberta Stock Exchange.
Damon Malkiewicz
Vice PresidentMr. Malkiewicz is a software developer and network administrator who was responsible for programming the eCrowdex prototype and Pilot software. He has experience as a programmer/analyst with automotive software service providers, where he has delivered software applications on wireless devices to the big three automakers.