cciv (CCiv), the virtual stock market, has become an international phenomenon, attracting billions of dollars in investment and a variety of financial services.
But what is ccv, and why do we need it?
Read moreThe online market, which is regulated by a non-profit called CCVC (Committee for the Regulation of Virtual Commodities and Virtual Assets), is based in Israel.
It is run by an Israeli entrepreneur, Gil Gilon.
Gilon is the CEO of cciv and runs it as a subsidiary of the Israel-based investment fund, Yediot Aharonot.CCV’s mission is to help the Israeli stock market become a fully digital marketplace, where investors can purchase stocks and derivatives from traders around the world, without having to go through a stock exchange.
In fact, the platform has already created more than 40,000 listings, with more to come.
Gil, who has also written a book, has a lot of experience in virtual stock exchanges and trading.CCVC has created cciv for several reasons, from the need for the Israel stock market to facilitate trade between Israelis and foreign investors, as well as the need to provide an alternative to a stock market that has traditionally been dominated by international investors.
Gil says the main reasons for launching cciv were to “help build the foundation for a future virtual stock marketplace” and to give the Israeli market a “great experience.”
In its current form, cciv is more of a social network than a stock trading platform, but Gil said it does not use the traditional stock exchanges, and does not sell shares directly.
cciv has been in operation since January 1, 2017, and has already raised more than US$4.5 million.
Gil is looking to raise more money to expand its service and become a global platform.
He believes cciv will help the Israel market become an even more global one, providing an alternative for the country’s large stock trading community, and to connect with a large portion of the world’s largest traders.
Gil says cciv allows Israeli traders to trade freely without going through stock exchanges.
Gil explains that cciv’s technology allows it to work with international exchanges, which can then use the information in cciv to offer their customers a better experience.
CCVC is not the first virtual stock trading exchange in Israel; the country has several, but none has the scale and reputation of ccv.
Gil said cciv was founded as a “bipartisan effort” to help establish a platform for the Israeli trading community to participate in a digital marketplace.
While cciv provides a more streamlined trading experience, it has also drawn attention for its privacy policies, which have been criticized for limiting the information users can share and for allowing traders to sell and buy shares, but not exchange them.
Gil pointed out that ccv is also “not a platform to be used by foreign investors.”CCVC launched cciv in the summer of 2016 with the goal of providing a platform that would help foreign investors access a digital stock market in Israel, without going to a traditional stock exchange, where there is a strict vetting process for new investors.
At the time, Gil said the goal was to provide a platform where Israelis could buy and sell shares without going overseas, and without the risks of having to travel to a foreign country for trading.
ccv has since grown to a global service, Gil told The Jerusalem Times.
“The Israeli stock markets are a bit too slow for foreign investors,” Gil said.
“We are not in a position to allow people from abroad to buy shares.
We are trying to do something different and to make it a global experience for all of us.”
The cciv platform offers a number of features, including:• Trading in real-time on a global marketplace.
This enables traders to make a move in real time and have their trading done quickly.• Share options that are customizable, so that investors can trade and invest without going directly to an exchange.• An easy-to-use interface, which allows users to create their own portfolios, as a way to increase their liquidity.• Customizable price-tracking, which enables users to see how their shares are trading.• A feature that allows traders to search for stock information in stock indexes.
The ccv platform has had many delays, including a dispute with the Securities Authority (SA) that has made it difficult for users to trade.
Gil points out that a major problem with cciv today is that “it is not a platform, it is a product.
A product is a service, and it has to be regulated.”
According to Gil, ccv started off as a service that would be useful for people who were looking for a stock brokerage.
But now, ccov has been around for so long that Gil has built up a lot more users than his previous platform.
Gil said that ccav is working with the SA to get ccv approved for listing in the stock market.
The SA has been the target of a recent campaign