Newsletter
- According to their notice on November 2nd, including Amazon, Tesla, and SpaceX, six other companies opposed the trading of their stocks on OKX - ICE TSV.
- The list of opponents has increased from 9 on October 15 to 56, and Apple is now one of the few large tech stocks that have not yet appeared on the list.
- If the company raises objections in a timely manner, that trading venue will not be able to list third-party tokenized versions of stocks, but it can still list stocks that are tokenized by the issuers themselves.
Two companies under Elon Musk are now also preventing their stocks from entering the tokenized stock trading venues planned for OKX and ICE.
Tesla and SpaceX are listed among the six new dissenting issuers in the update notice released on Monday by OKX - ICE TSV. Other companies include Amazon, Netflix, Lam Research, and SoFi Technologies. With these additions, the total number of oppositions has reached 56.
In the notice from that trading venue on October 30th, the list included 50 companies; at that time, NVIDIA, Costco, and Nike brought in the largest number of opponents to date. Previously, on October 28th, the list consisted of 38 companies, with Walmart joining them; whereas on October 15th, only 9 companies had initially raised objections.
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The newly added list further expands the roster of "absentees" among large market capitalization companies. Amazon, Tesla, and Netflix have joined Microsoft, Alphabet, and NVIDIA; financial technology company SoFi, which provides crypto trading services, adds another company that is already involved in digital assets to the list. SpaceX is included in the list under its stock code SPCX.
According to the innovative exemption provisions of SEC, the institution introduced this arrangement in September, following the previous deadlock of Clarity Act in the Senate. According to the regulations, trading venues must notify the companies in advance before providing tokenized versions of stocks by unrelated third parties.
If a company raises an objection in writing within 30 days, the trading venue shall not allow that stock to be traded, as stipulated by the command SEC. This objection is only applicable to that particular trading venue.
OKX - ICE TSV is a joint venture jointly owned 50% by Intercontinental Exchange, the parent company of the New York Stock Exchange, and OKX American Holdings Corporation. The venture plans to offer 24/7 tradable tokenized products of U.S. stocks through a licensed Uniswap fund pool on the XLayer blockchain of OKX, in conjunction with stablecoins such as USDC.
Traders must pass identity and sanctions screening and possess a non-transferable "soul-bound" token; the smart contracts of the trading platform will verify this token before each transaction.
Apple is now one of the few large market capitalization companies that still do not appear on the list. Although objections may prevent the launch of a third-party tokenized version of a company's stock on OKX-ICE, they will not shut down all possibilities.
The notification states that the trading platform will also allow for the listing of stocks that have been tokenized by the issuing parties themselves, although no specific companies are named; moreover, the tokenized stocks provided are not limited to trading only on OKX-ICE.
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