|BSTX (Boston Security Token Exchange)|
|Key People||Lisa J. Fall, CEO; William Easley|
BSTX (Boston Security Token Exchange), which is jointly owned by BOX Digital Markets LLC and tZERO, is an SEC-regulated stock market for tokenized securities. BOX Digital Markets is an affiliate of BOX Exchange. BSTX will operate as a facility of BOX Options Exchange. TZERO, a subsidiary of Overstock.com, began operating an alternative trading system or ATX for its own tokenized securities in 2019.
BOX provides strategic leadership and regulatory advice to BSTX and TZERO manages technology, administration, maintenance, and support. TZERO operates a registered alternative trading system (ATS) for security tokens, access to which is limited by its regulatory status.
BOX Exchange filed proposed changes its options exchange rules on September 27, 2019, to permit it to list equity securities. In its request for comments on the proposed rule change, which the agency published on October 11, 2019, the SEC characterized the BSTX proposal saying, ". . . BSTX would operate a fully automated, price/time priority execution system for the trading of “security tokens,” which would be equity securities that meet BSTX listing standards and for which ancillary records of ownership would be able to be created and maintained using distributed ledger (or “blockchain”) technology." The SEC published revisions to BSTX's proposed rulebook on February 28, 2020.
- SEC Publishes BSTX Security Token Exchange Rulebook. The Tokenist.
- Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing of Proposed Rule Change Related to Adopt Rules to Govern the Trading of Equity Securities on the Exchange Through a Facility of the Exchange Known as the Boston Security Token Exchange LLC. U.S. Securities and Exchange Commission.
- Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing of Amendment No. 2 to Proposed Rule Change to Adopt Rules Governing the Trading of Equity Securities on the Exchange Through a Facility of the Exchange Known as the Boston Security Token Exchange LLC. U.S. Securities and Exchange Commission.