tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that its Boston Security Token Exchange LLC (BSTX) joint venture with BOX Digital Markets LLC received approval for its rulebook for the nation’s first regulated blockchain-enabled securities exchange, which offers faster settlement, proprietary and transparent blockchain data feeds, and improved market quality for early-stage companies.
BSTX Board Member and tZERO Interim Chief Executive Officer and Chief Legal Officer Alan Konevsky stated, “This is a watershed event in the digital evolution of the securities markets and the trading experience. With BOX Digital’s experience in building and operating a sophisticated securities exchange and tZERO’s industry-leading blockchain technology innovation, we have brought together our organizations’ combined expertise to drive innovation.”
BSTX strives to offer U.S. capital markets three main benefits:
- Faster Settlements. Market participants will be able to elect accelerated settlement (i.e., T+0 or T+1) for securities listed on BSTX. This approach is consistent with the accelerated settlement capabilities supported by the National Securities Clearing Corporation (NSCC) and the Depository Trust Company (DTC).
- Blockchain-Secured Market Data. Market participants will be able to view proprietary market data related to trading activity occurring on BSTX through its private, permissioned blockchain, increasing transparency.
- Access for Early-Stage Companies. Issuers will have access to innovative solutions to improve trading quality by unlocking liquidity and democratizing access to companies and assets.
Konevsky continued, “tZERO is committed to evolving legacy systems and innovating the ways that securities and value can be custodied, transferred, and traded using digital technology. We look forward to launching BSTX as a platform for a range of innovative products.”
In June 2018, tZERO and BOX Digital announced a joint venture to build the first blockchain-integrated and compliant national securities exchange. BSTX operates a fully automated, price/time priority execution system for the trading of certain securities and the BSTX Market Data Blockchain, which records certain order and transaction information occurring on BSTX. 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. For more information on BSTX, visit http://bstx.com.
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries 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, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
About BOX Digital
BOX Digital is a wholly-owned subsidiary of BOX Holdings Group LLC, which owns and operates BOX Market, an equity options marketplace and a facility of BOX Options Exchange LLC. BOX Options Exchange is a Registered National Securities Exchange under Section 6 of the Securities Exchange Act of 1934. Additional information about BOX Market and BOX Options Exchange can be found at http://www.boxoptions.com.
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