About 62 companies have now objected to tokenized trading of their shares on OKXICE TSV, the planned onchain stock venue owned by Intercontinental Exchange (ICE) and OKX, according to a public notice the venue dated Nov. 4. The newest names on the list are Boeing, ServiceNow and Nebius Group.
They follow Apple, The Home Depot and GE Vernova, whose objections first appeared in the venue’s Nov. 3 notice, when Unchained counted 59 objectors. By Unchained’s count of the venue’s filings, the list stood at 56 on Nov. 2 and at nine in mid-October. No company has come off it. The Nov. 4 notice gives no reasons for any objection.
Lumida Wealth founder Ram Ahluwalia offered one explanation when he spoke on Unchained’s Bits + Bips on Nov. 2. “The issuers like to control their stock. They know their buyer base. They know who their beneficial owners are,” he said. On the same episode, he said firms whose businesses touch the trade have their own reasons: “If you’re Goldman Sachs, you’re providing financing on these assets, you’re supposed to object.” Goldman Sachs is on the venue’s list.
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What an Objection Does
The Securities and Exchange Commission’s exemptive order for tokenized securities venues, dated Sept. 17, sets the rules. Before a venue lists a token of a company’s stock created by an unaffiliated third party, it must send that company written notice, and trading cannot start for at least 30 calendar days after the company receives it. A written objection inside that window keeps the token off the venue, which then has five business days to publish a revised notice.
The order lists concerns an issuer might weigh, including “the risk of maintaining its shareholder register related to onchain transfers” and possible effects on the price of the underlying stock.
Andrew Cuomo, who co-chairs the joint venture, said on a press call with reporters on Oct. 29 that “you’ll have a lot of companies that take the position I want to wait and see.”
How the Venue Works
OKXICE LLC, a Texas company owned 50% by ICE and 50% by OKC USA Holding Inc., runs the venue. Tokenized stocks are set to trade against supported payment stablecoins in permissioned Uniswap v4 pools on XLayer, open only to wallets that hold a soulbound token the venue issues.
The venture has yet to disclose a launch date.
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