Apple, Home Depot and GE Vernova have objected to third-party-tokenized versions of their shares trading on OKXICE, a planned stock-token venue. Disclosed issuer objections now total 59, and ten of the venue's original proposed symbols have no disclosed opt-out.
Apple, Home Depot and GE Vernova have objected to third-party-tokenized versions of their shares trading on OKXICE, lifting the venue's disclosed issuer objections to 59 in its Nov. 3 public notice. The Nov. 2 notice had listed 56.
Objections cover most of the original proposal
The objections now cover 53 of the 63 stock symbols in OKXICE's original Oct. 4 proposal, or 84.1%, according to The Defiant's comparison of the notices. That leaves ten original symbols without a disclosed objection.
The issuer total differs from the number of affected symbols because seven objectors were not in the Oct. 4 lineup: Cerebras, Arm, Wells Fargo, Arcos Dorados, Cigna, IREN and Palo Alto Networks. Alphabet's single objection covers both GOOG and GOOGL.
How the SEC exemption handles objections
Under the SEC's Sept. 17 conditional exemption order, a venue must notify an issuer before offering its shares tokenized by an unaffiliated third party. Trading cannot begin until at least 30 calendar days after the issuer receives the notice. If the issuer objects in writing on or before the 30th calendar day after receipt, the venue cannot offer that stock under the exemption, and it must disclose the objection within five business days.
OKXICE's planned market is a 50-50 joint venture between Intercontinental Exchange Holdings and OKC USA Holding. It plans to let approved retail and institutional investors trade stock tokens against stablecoins through permissioned Uniswap v4 liquidity pools on XLayer.
Ten symbols without a disclosed opt-out
Those ten are not a confirmed launch lineup, because the latest notice describes issuer- and third-party-tokenized stocks generally rather than naming securities to be offered.
Source: The Defiant
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