NYSE Owner and OKX Submit Application for Tokenized Stock Trading Platform in US

NYSE Owner and OKX Submit Application for Tokenized Stock Trading Platform in US

Plans revealed for digital stock trading service featuring tokenized equity in over 60 American public companies, utilizing the SEC's new exemption framework for financial innovation.

A collaborative enterprise involving OKX has submitted documentation to the United States Securities and Exchange Commission for the establishment of a platform dedicated to tokenized stock transactions.

OKXICE LLC, representing a collaborative partnership between digital currency exchange platform OKX and Intercontinental Exchange Inc., the organization that owns the New York Stock Exchange, has formally informed the SEC of its plans to establish a tokenized securities venue (TSV) utilizing the SEC's newly available innovation exemption framework.

More than 60 corporations traded on American stock markets will be featured on the platform, according to statements from OKXICE co-chair Andrew Cuomo.

"This is a landmark step toward a truly global, 24/7 Wall Street — and toward keeping the future of digital finance anchored here in the United States," he added.

The formation of a 50-50 collaborative partnership between OKX and Intercontinental Exchange took place in June, with the objective of developing foundational infrastructure for financial products based on tokenization technology.

The SEC released a provisional exemption in September that permits restricted trading activity for tokenized American equities on designated onchain platforms.

The innovation exemption framework enables TSVs to provide authorized trading of tokenized National Market System (NMS) equities via automated market makers and liquidity pools.