BSTX Files to Establish Securities Exchange. Rulebook Published by SEC is Now Open for Public Comment
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 (News - Alert)) and is open for public comment. With its innovations, BSTX's proposed exchange offers 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. For more information on BSTX, visit: http://bstx.com.
About BOX Digital
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.