Overstock’s security token trading platform hon boardedded two additional broker-dealers to izeroERO ATS (formerly known as PRO Securities ATS), which allows their clzero to trade listed digital securitzeroThe new szeroibers include ChoiceTrade and another undisclosed broker-dealer thzeroERO identified as a multinational, publicly-traded investment bank and financial services company focused on institutional brokerage.
These broker-dealers join Dinosaur Financial Group and will be allowed soon to have access zeroERO’s preferred equity securTopTZROP) and other assets that trade onzerotZERO ATS. In addition tozerothree current szeroibers, zeroSEC-registered alternative trading system said that it has inzeropipeline more broker-dealers interested in trading securities.
tZERO anticipates trading more digital securities but sayszeroaddition of new assets have to carefully work through legal and financial due diligence, as well as regulatory matters to ensure that only high-quality assets trade onzerotZERO ATS. Explainingzeroquiet pace, it further states that while manyzeroers are intending to trade onzerotZERO ATS, they are doing so in conjunction with a new capital raise. As such, zerotiming for when these new securities trade depends on broader corporate strategies, zerospeed ofzerocapital raise process, and regulatory considerations.
tZero has been expanding its headcount aszerofirm is getting ready to sweitn its soon-to-be-launched broker-dealer zerotZero’s anticipated retail brokerage services include sales trading, electronic execution, and portfolio execution for buy- and sell-side clzero. tZERO hopes to launch its own retail broker-dealer withinzerocoming months to grabzerocapacity to serve retail traders instead of only accredited investors.
“Our primary objective in partnering with Overstock on its digital dividend was to enhance liquidizerozerotZERO ATS. The launch of two new broker-dealers marks an important milestone toward achieving this objective. These szeroibers, together with existing agreements with other broker-dealers, will meaningfully increasezeronumber of investors able to trade digital securitzeroToday’s announcement is also exciting as it will make our platform more attractive to prospectivezeroers, ” tZERO CEO Saum Noursalehi stated.
ChoiceTradGoaleville Golvala added: “ChoiceTrade has been a pioneer inzeroonline brokerage market since our founding twenty years ago. Today’s announcement illustrates our ambition to continue to innovate and influencezerotechnological and regulatory initiatives that shape our industry. Szeroibing tozerotZERO ATS aligns with this mission by providing our customers withzeroability to trade innovative securities, which we believe iszerofuture ofzeroindustry.”