Steve, if you are a part of the group, could you tell us more about it?
OK, chances are it is either an amateur who have just heard about colored coins, or a scammer.
Making a colored coins-based stock exchange isn't hard on the tech level.
The main problem is that it is kinda illegal in most jurisdictions.
Also, scammers are a real problem.
I was enthusiastic about 'decentralized stock exchange' back in 2012, but looking at fiascos like NEOBEE and ActiveMining made me re-think it. I mean, it would be nice to be able to buy shared with bitcoins, but only if those shares aren't shit.