News about SEC

Nine issuers, including Broadcom, Verizon and UnitedHealth, have objected to having their shares traded on OKXICE's planned tokenized-stock platform, according to an October 15 notice. The venue would offer around-the-clock trading under the SEC's temporary Innovation Exemption, with tokens backed one-for-one by underlying shares. Nasdaq has said it will opt out of the framework because the venue does not display best prices in real time or report to the consolidated tape. TD Securities analysts found that reliance on temporary exemptive relief rather than permanent rules has made issuers and institutions reluctant to invest in the trading infrastructure.