Broker-Dealers Can Now Trade Securities Such As
Overstock’s Preferred Digital Dividend Shares (OSTKO) Without
Trading Fees
tZERO, a leader in financial innovation and liquidity for
private companies, announced today that its subsidiary tZERO ATS, a
FINRA member broker-dealer that operates an Alternative Trading
System (ATS), has made trading free for broker-dealers trading
publicly traded digital securities that have been registered with
the U.S. regulators. This takes effect at the market open on
September 3, 2020. Private securities that are permitted to trade
on the tZERO ATS (i.e. TZROP, ASPD) will continue to be subject to
the previous fee structure.
tZERO CEO Saum Noursalehi stated, “At tZERO, we are committed to
fostering the industry adoption of digital securities and believe
that free trading on registered digital securities will be a more
compelling model for attracting broker-dealer subscribers and
investors. We are excited for tZERO ATS to introduce this change
for Overstock’s preferred digital dividend shares, OSTKO, and other
relevant securities, and look forward to accelerating the adoption
of its platform.”
Established in 2003, tZERO ATS facilitates the trading of
digital securities and other U.S. equities. tZERO ATS pioneered the
first reported trade of a digital security in 2016 and continues to
be a leader in trading of innovative digital securities that
leverage distributed ledger technology in a compliant manner.
tZERO Group, Inc. (tZERO) is a technology firm with the goal of
democratizing access to private capital markets. tZERO is a
subsidiary of Medici Ventures, the blockchain-focused, wholly owned
subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice
Investors should note that trading digital securities could
involve substantial risks, including no guarantee of returns, costs
associated with selling and purchasing, no assurance of liquidity
which could impact the price and ability to sell, and possible loss
of principal invested. Further, an investment in single digital
security could mean lack of diversification and, consequently,
higher risk.
No Offer, Solicitation, Investment Advice or
Recommendations
This release is for informational purposes only and does not
constitute an offer to sell, a solicitation to buy, or a
recommendation for any security, nor does it constitute an offer to
provide investment advisory or other services by the tZERO or any
of its affiliates, subsidiaries, officers, directors or employees.
No reference to any specific security constitutes a recommendation
to buy, sell, or hold that security or any other security. Nothing
in this release shall be considered a solicitation or offer to buy
or sell any security, future, option or other financial instrument
or to offer or provide any investment advice or service to any
person in any jurisdiction. Nothing contained in this release
constitutes investment advice or offers any opinion with respect to
the suitability of any security, and the views expressed in this
release should not be taken as advice to buy, sell or hold any
security. In preparing the information contained in this release,
we have not taken into account the investment needs, objectives,
and financial circumstances of any particular investor. This
information has no regard to the specific investment objectives,
financial situation, and particular needs of any specific recipient
of this information and investments discussed may not be suitable
for all investors. Any views expressed in this release by us were
prepared based upon the information available to us at the time
such views were written. Changed or additional information could
cause such views to change. All information is subject to possible
corrections. Information may quickly become unreliable for various
reasons, including changes in market conditions or economic
circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition,
from time to time, tZERO, its subsidiaries, or its representatives
may make forward-looking statements orally or in writing. These
forward-looking statements are based on expectations and
projections about future events, which is derived from currently
available information. Such forward-looking statements relate to
future events or future performance, including financial
performance and projections; growth in revenue and earnings; and
business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as “may,”
“should,” “expects,” “anticipates,” “contemplates,” “estimates,”
“believes,” “plans,” “projected,” “predicts,” “potential,” or
“hopes” or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including, without limitation: the ability of tZERO and
its subsidiaries to change the direction; tZERO’s ability to keep
pace with new technology and changing market needs; and
competition. These and other factors may cause actual results to
differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The
forward-looking events discussed in this release and other
statements made from time to time by tZERO, its subsidiaries or
their respective representatives, may not occur, and actual events
and results may differ materially and are subject to risks,
uncertainties and assumptions. tZERO, its subsidiaries, and its
representatives are not obligated to publicly update or revise any
forward-looking statement, whether as a result of uncertainties and
assumptions, the forward-looking events discussed in this release
and other statements made from time to time by tZERO, its
subsidiaries or its representatives might not occur.
About tZERO
tZERO Group, Inc. and its broker-dealer subsidiaries (tZERO)
provide an innovative liquidity platform for private companies and
assets. We offer institutional-grade solutions for issuers looking
to digitize their capital table through blockchain technology, and
trade on a regulated alternative trading system. tZERO democratizes
access to private assets by providing a simple, automated, and
efficient trading venue to broker-dealers, institutions, and
investors. For more information on tZERO, please visit
https://www.tzero.com/.
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.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a
member of FINRA and SIPC that operates an alternative trading
system, tZERO ATS. More information about tZERO ATS may be found at
https://brokercheck.finra.org/. Digital securities that trade on
tZERO ATS are conventional uncertificated securities. Ownership of
such securities is reflected on the traditional books and records
of regulated market participants. The terms "digital" and “digital
security” refer to the blockchain technology elements of a security
that are intended to enhance investor experience through added
transparency but have no controlling or legal effect.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200902005878/en/
tZERO Media Contact Alexandra Sotiropoulos,
+1-347-293-1416 asotiropoulos@tzero.com
Investor Contact Michael Mougias, +1-347-293-1248
mmougias@tzero.com
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