Fintech firm ‘Securrency‘ and registered broker dealer and Alternative Trading System (ATS) operator ‘AX Trading‘ have today announced a strategic partnership for the tokenized issuance and trading of digital securities.
The firms stated in the press release that Securrency’s dynamic technology solution will allow the clients of AX to conduct secure and regulatory-compliant primary Digital Security Offerings (DSOs). This will also enable security tokens to eventually be listed and traded on the AX ATS, a regulated secondary trading market. AX aims to complete the integration of Securrency’s proprietary Rules Engine and Compliance Aware Token (CAT) standard in order to help the adoption of a global compliance standard.
Securrency has further developed a unique Compliance Aware Token™ that embeds regulatory and transactional rules in a compliance layer to facilitate legally-compliant securities offerings in the United States and globally. The trading team of AX has built several trading and liquidity solutions across the global fixed income and equity markets. The first digital security offering is expected to commence as soon as January 2019, and the AX Trading ATS may be ready to list digital securities in 2019.
Comments from AX Trading
AX CEO George O’Krepkie stated “…We selected Securrency as a technology partner because of its strong emphasis on regulatory compliance as well as a wide range of supporting capabilities that we did not find anywhere else in the market.”
“AX Trading and Securrency share a common view of the importance of blockchain-based digital securities technology to the traditional financial markets.” added O’Krepkie.
Comments from Securrency
Jeff Truitt, Chief Corporate Development Officer of Securrency said: “We have a pipeline of digital security offerings, and most of our issuers are looking for venues offering secondary liquidity. AX brings institutional connections to the digital securities market and provides new avenues for adoption”