Zions Direct

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Zions Direct Brokerage
Type Non-bank subsidiary of Zions Bank, a subsidiary of Zions Bancorporation: Public (NASDAQZION)
Industry Financial Services
Founded Zions Bancorporation Salt Lake City, Utah, USA (1873)
Headquarters Salt Lake City, Utah, USA
Key people W. David Hemingway, Zions Bancorporation EVP, Capital Markets and Investments[1]
Products

Securities Auctions Bond Trading

Equities Trading
Website Zions Direct

Zions Direct is an online broker-dealer subsidiary of Salt Lake City, Utah, USA based Zions Bank, a subsidiary of Zions Bancorporation that specializes in offering securities for the self-directed and fixed income investors.[2] Zions Direct allows clients to invest in stocks, bonds, mutual funds, Federal Deposit Insurance Corporation-insured certificates of deposit, and exchange-traded funds. Clients invest online, through a financial representative, or by bidding on an auction platform.[3] Zions Direct and Zions affiliates[4] work closely together to meet their customers investment and banking needs by providing money market, checking, and other banking products.[5] Zions Direct is regulated by the Financial Industry Regulatory Authority (FINRA).[6]

Zions Direct auctions[edit]

On March 27, 2007, Zions Direct announced it would begin using an auction platform to offer FDIC-insured CDs.[7] The process allows investors to bid on securities' price or yield, similar to the process used by the U.S. Treasury. In addition to auctioning CDs, Zions Direct has also used the platform to offer medium term notes and the employee stock option valuation instrument, ESOARS. As of April 15, 2008, Zions Direct had sold more than $500 million in securities through their auction platform.[8]

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