LOS ANGELES Jefferies & Co. will distribute securities online in an alliance with FreeRealTime.com of Irvine, Calif.
The brokerage firm, the main operating subsidiary of Jefferies Group, said it was the lead investor in a recent $10 million private financing by FreeRealTime.com, which offers a financial information Web site for traders and investors.
Jefferies said it would provide trading systems and other technology for the site.
The auto lender's earnings outpaced Wall Street's expectations. But shrinking car inventories at dealerships, which stemmed from new tariffs, put a dent in Ally's lending.
The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.
The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.
With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.
The regional bank's cloud-based software platform will be one of the first of its kind, a top executive said Friday.
