Shackelford Holdings Group Corporation (SHG) has recently announced their new innovation, the Divine Exchange, a stock exchanged owned by the Divine Financial Group Corporation. It is said to be a 24-hour electronic exchange that gives investors worldwide an opportunity to buy and sell securities from any country and with any currency anytime; thereby making it the first stock market to be open 24 hours. The Divine Exchange Ltd., located and established at British Virgin Islands, was incorporated last 3rd of November 2015.
“Divine Exchange will revolutionize global finance because it allows the market to be truly global. The ability to buy and sell securities in any currency 24-hours-a-day opens the market to many new possibilities,” said Brady Shackelford, the founder and CEO of Shackelford Holdings Group.
Why Buy and Sell Securities in Any Currency?
Brady realized that if SHG allows buying and selling of security using any currency, it would offer him a solution required to raise funds in multiple foreign currencies.So he immediately contacted stock exchanges that could list DTG and DFG in that manner. However, he was turned down by the 3 exchanges he contacted as they told them what he was thinking was impossible. He then realized that the only solution he has at the moment is to start building an exchange from scratch. It was a blessing in disguise for him because Brady realized that he will be able to build an exchange according to his liking and not be boxed by limitations that other exchanges are establishing.
How was Divine Exchange Built?
A $500 million worth of convertible note will be issued by the Shackel Holdings Group during the first and only round of equity financing in order to build Divine Exchange. In turn, noteholders of this new exchange will be receiving shares with a 99% discount from its two subsidiaries, Divine Transportation Group Corporation (DTG) and Divine Financial Group Corporation (DFG), which are going public in about 8 and 3 years, respectively. About $400 million of the proceeds will be utilized for building the new exchange. Currently, the SHG is searching for an investment bank that will underwrite the convertible $500 million note.
When asked why they will open their new exchange for 24 hours, they said it’s because investors around the world have different time zones. They modeled Divine Exchange after the Investors Exchange as they wanted to make a more moral exchange.