OKX Joint Venture Files with SEC to Launch Tokenized Trading Platform
The venture plans to list more than 60 U.S. stocks and use a temporary SEC exemption for around-the-clock trading and faster settlement.
- OKXICE, a joint venture involving OKX and Intercontinental Exchange, notified the SEC on Sunday that it intends to launch a Tokenized Securities Venue for around-the-clock trading of U.S. stocks.
- The proposal leverages a new SEC 'Innovation Exemption' issued Sept. 17, which allows venues to trade tokenized stocks using automated market makers and liquidity pools for five years.
- Tokenized stocks are digital shares on a blockchain offering 24/7 trading, with global markets worth about $3.2 billion, up 15% in the past month according to RWA.xyz.
- The venue will initially list more than 60 companies, with each firm receiving a 30-day objection period to challenge tokenization of their specific shares.
- Former New York Gov. Andrew Cuomo, the venture's co-chair, told CoinDesk the project will show how "24/7, onchain markets can make trading and settlement more efficient, accessible and global.
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OKX joint venture files with SEC to launch tokenized trading platform
By Gregor Stuart Hunter SINGAPORE, Oct 5 (Reuters) – OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, filed with the Securities and Exchange Commission on Sunday to launch a tokenized securities platform for around-the-clock trading of US stocks. • More than 60 listed companies will be available for around-the-clock trading throughout the week, according to the filing • “This is a landmark step toward a …
OKX Files With SEC to Launch Tokenized US Stock Trading Platform
NYSE Owner and Crypto Exchange OKX Plan 24/7 Trading in 63 US Stocks
The owner of the New York Stock Exchange and OKX set out plans yesterday (Sunday) for a blockchain venue trading 63 US stocks around the clock. Their joint venture, OKXICE, published the notice a new Securities and Exchange Commission (SEC) exemption requires before such a venue opens.Intercontinental Exchange (ICE) and OKX each own 50% of the venture, which they announced in June as a route for OKX's retail clients into ICE futures and tokenize…
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