How the ‘wona’ trading company in Duluth helped women win their case
Duluth, Minnesota, is the newest state to allow women to trade in online stocks and other investments.
The city’s Wona Trading Company said on its website that it began trading in the United States in 2014, but the law was still in effect at the time of the initial launch.
The company, which is part of Wona Holding Corp., which has over 100 stores, began in Dulcy and opened a new one in Minneapolis in January.
It has about 4,000 members and about 500 employees.
The women who started the business have said they wanted to support women and work toward a more equal society, and have also worked with the Minnesota legislature and the U.S. Securities and Exchange Commission.
They started by giving away stock to women and then selling it to men, Wona said in a statement.
Wona’s CEO, Jessica T. Wootton, said the women’s experience was more rewarding than the men’s because they are more open to the process.
“The best thing about trading in Wona is the support we get from the Wona community and from the state of Minnesota,” Wootston said.
“They are just great people.”
Minnesota’s law does not require women to use a brokerage account to trade, and a Minnesota woman can start a trading account as early as one year after she gets her first trade.
Women can only use Wona’s online trading platform to trade on the exchange.
Women are allowed to trade through an agent who will take a commission on the trade, but they are not required to invest or to do so with any type of financial institution.
Wootton said Wona had not decided how much money the women would receive from their trade.