We perform due diligence on our listed companies which exceeds any other exchange and do not allow just anyone to list, which sets us apart.
The Labcoin passthru will be maintained and operated by Havelock Investments. Havelock Investments has not performed any due diligence on the underlying asset and individuals involved in managing Labcoin.
Just sayin'.
(Nitpicking aside, I do trust Havelock more than BTC-TC and BitFunder.)
This IPO sounds interesting, although regarding the service itself, I'm in the same boat as Ninshatamoto -- I live in a city of ~200k people, and there is exactly one local seller on localbitcoins.com.
Hi Nubbins, I see what you're saying but to clarify, LABCO is passthru fund on Havelock (official listing is on BTC-TC). So we perform the due diligence on such funds themselves (easy on the Labcoin PT since we manage it) and not on the underlying assets as we don't have the same access to the managers/owners that we would if listed through us. The way we look at it, its when a major exchange lists an ETF or mutual fund. They look at the fund's structure, management etc but don't necessarily dig into each underlying asset that the fund may invests in.
That being said, it is something we have debated internally and reviewed periodically. Do we want passthru funds on Havelock? The added investing options and demand for the underlying assets from our users have so far made passthru funds worthwhile. Cheers.