OKX-ICE Tokenized Stock Venue Faces 33 Issuer Objections as…
By Abdelaziz Fathi
AI summary of the source article
Thirty-three issuers have formally objected to having their shares listed on a proposed tokenized trading venue backed by OKX and Intercontinental Exchange, eliminating nearly half of the venue's initially planned stock selection.
Why it matters
The objections create a practical problem because "the platform needs an attractive selection of securities, sufficient liquidity and market-maker participation to compete with established equity markets and other tokenized trading products."
Key facts
- A total of 33 issuers, including Intel, IBM, and JPMorgan Chase, have objected to OKX and ICE's proposed Tokenized Securities Venue.
- Thirty of the objecting companies were among the 62 companies originally identified for trading on the platform.
- Under the SEC's Innovation Exemption, a venue cannot offer tokenized versions of a stock if the issuer submits a written objection within 30 calendar days.
Source excerpt · FinanceFeeds
Intel, IBM, Oracle and IonQ have joined the companies objecting to tokenized versions of their shares being listed on a proposed trading venue backed by cryptocurrency exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE). The number of objecting issuers has since climbed to 33, creating a growing challenge for the planned platform before trading begins. An October 26 pub…