‘SOES Bandit’ Firms To Tap IPO Market

They’ve often been called SOES bandits on Wall Street, but now two of the biggest electronic day-trading companies are taking another step toward the mainstream, unveiling plans to tap the IPO market.┬áMomentum Securities Management Corp., of Houston, is considering an initial public offering that would raise $25 million, its president, James Lee, said. Momentum Securities is following the lead of All-Tech Investment Group Inc. of Montvale, N.J., which filed plans for an IPO with the U.S. Securities and Exchange Commission in late May. (Wall Street Journal)