Boston Security Token Exchange LLC (BSTX), a joint venture of BOX Digital Markets LLC and tZERO Group, Inc., announced that its updated proposed rulebook establishing itself as a securities exchange has been published by the Securities and Exchange Commission (SEC) and is open for public comment. With its innovations, BSTX’s proposed exchange offers a potentially faster settlement, proprietary market data transmitted via blockchain, and better market quality for early-stage companies that are thinly traded.
“This updated proposal sets out a framework for a new exchange that we believe contains advances with major benefits for investors, exchange participants and small, early-stage companies, among others,” said Lisa J. Fall, CEO of BSTX. “We appreciate the thoughtful review of our rulebook by the SEC staff and also look forward to the public comments on this filing.”
In its filing, BSTX proposes an exchange that will benefit capital markets in three important ways:
In June 2018, BOX Digital Markets LLC (BOX Digital) and tZERO Group, Inc. (tZERO) announced the BSTX joint venture to become the world’s first regulated exchange for trading security tokens. BOX Digital provides executive leadership and regulatory expertise, while tZERO manages ongoing technology implementation, administration, maintenance and support. BOX Exchange LLC (BOX Exchange), a national securities exchange registered with the SEC under Section 6 of the Securities Exchange Act of 1934, will operate and regulate BSTX as a facility of BOX Exchange.
About BOX Digital
BOX Digital Markets LLC is engaged in creating and developing markets for trading digital assets in a regulated environment. BOX Digital is a wholly-owned subsidiary of BOX Holdings Group LLC, which owns and operates BOX Options Market, an equity options marketplace and a facility of BOX Exchange LLC. BOX Exchange LLC is a Registered National Securities Exchange under Section 6 of the Securities Exchange Act of 1934.
tZERO Group, Inc. and its broker-dealer subsidiaries (tZERO) provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors.