To first be allowed to look at IPO's :
1. You must have a minimum of $50,000 equity with "BROKERAGE" per account.
That means you need cash and securities in an account for approx 6 mo.
2. You will additionally be required to meet certain eligibility criteria with respect to your investment objectives and financial status. You will thereafter be required to re-certify your eligibility prior to participation in future New Issue offerings.
Means the want to know they CAN get the money from you in a heartbeat. Unless you're maintaining $50K + in the account you cannot trade IPO's
Also once purchased you cannot sell an IPO for 90 days
What is NASD Rule 2790?
Pursuant to NASD Rule 2790 (the "Rule"), YOUR BROKERAGE may not sell or cause to be sold a new issue (as defined in the Rule; generally, initial public offerings of equity securities) to any account in which a restricted person holds a beneficial interest, subject to certain general exemptions prescribed by the Rule. YOUR BROKERAGE requires its customers to indicate whether or not an account is eligible to purchase IPO shares in accordance with the Rule. In addition, in connection with any new issue, you hereby represent that you will not act as a finder (i.e., a person who receives compensation for identifying potential investors in an offering) or in a fiduciary capacity to any managing underwriter of any new issue and that you shall notify YOUR BROKERAGE immediately in the event that such representation ceases to be true and correct. Please note that you will be required to provide this certification to YOUR BROKERAGE on no less than an annual basis.
ETrade is a brokerage house ( an entity for you to trade thru). You need to open an account ,send money.
Once established you can call or elecronically trade (E Trade) equities. They generally charge 6 16 dollars per trade.
When it becomes public you can look up it's symbol on almost any browser that has a Get stock Quote box on it. I looked in IPO's and did not see it today..
Edited by boopme, 08 February 2007 - 09:41 PM.