A coalition of non-profit groups will attempt to raise at least $1 million to assist New York City youth, through a day of Wall Street mentoring on Tuesday and a “Trading Day for Kids” on Thursday.
Thirty high school students will visit broker Canaccord Genuity on Tuesday (October 23) to learn what a day in the life of a trader is like, as if they pursuing careers on Wall Street, according to Charles G. Galligan, head of U.S. Electronic Trading at the firm.
On Thursday (October 25), Canaccord Genuity will donate all “excess” commissions on trades it conducts for hedge funds and other clients to Youth I.N.C., a nonprofit organization that helps low-income and disadvantaged youth build careers. That is the firm’s “Trading Day for Kids,’’ in which it intends to clear at least $1 million from commissions beyond its normal volume, for the cause.
The $1 million (or more) will help the youth find careers, not just on Wall Street, but elsewhere, Galligan said.
Since 2006, the “Trading Day for Kids” program has involved more than 475 financial firms and partners and raised more than $7.6 million.
Other nonprofit organizations such as Futures & Optiions, icouldbe.org and Minds Matter NYC are contributing to the program, as well, bringing students to Canaccord for the Mentor Day.
Program information is here.
A video of how youth think about stocks is here.