Harry Juselius CEO and co-founder of Suomen Talletustodistus Pörssi Oy, was interviewed into Finnish TV into A Studio program in 1986 about the company´s operations as it was one of it kind and has new innovation in the Finnish financial market in 1986 and in the film there is some shots as we were in the Investment fair 1986.
We made market place for banks bank accounts which were time limited savings accounts, periods as 6 months, 12 months or 24 months and
if you put your money in that kind of bank account the money was there for whole period, but you could transfer the account to other person
but the other person or company did not pay you full amount.
If interest rate paid to account was in that time 7,75% for 24 months account /year so for example for 1.000.000mk deposit and the buyer wanted 12,2% yield and
the market price was in that time in that day and that moment was about 915.000 for that 24 months 1milj. deposit + they buyer got that 7,75% interest also after 2 years ….and we got 1% commission for the deal.
More lower yield it was found the more seller would get and less losses and that was our market place idea, so you could cash in immediately the bank account quite low costs.
In that time these bank accounts were used as part of the paying the selling price when some one was buying your apartment or your company and why…. that way buyer got easily loan from bank ( also for 2 years) when you took it out as back account not cash
so if you where selling something you got these accounts and if you still needed cash…. you called us and we found you a buyer to buy your bank accounts and you got the cash money in hand …so we had a market place… and we try to find as low yield as possible from companies or persons, to have good prices to the seller and so on that we could get the deal and our commission.
It was new innovation here in Finland 1986 and I invented that idea to have a market place and make the market operating
as there was 50.000.000.000 mk money in there back accounts, so that is why we had publicity….yes…wow ….those was the days…Hj