Issuer objections to tokenized shares trading on the planned OKXICE venue have reached 50, according to its Oct. 30 public notice. Nvidia, Nike, Costco, Micron and Reddit have joined the objecting issuers, while 19 of the 63 originally proposed stock symbols have no disclosed objection.
Nvidia, Nike, Costco, Micron and Reddit have joined the issuers objecting to tokenized versions of their shares trading on OKXICE. Their objections bring the planned venue's disclosed total to 50 in its Oct. 30 public notice.
The tally is up from 38 in the Oct. 28 notice. The Defiant previously reported nine disclosed objections in the venue's Oct. 15 notice.
Objections cover 44 of the 63 original stock symbols
Disclosed objections now cover 44 of the 63 stock symbols in OKXICE's original Oct. 4 proposal, according to The Defiant's comparison of the notices. That leaves 19 without a disclosed objection, and Apple, Amazon and Tesla are among them.
Alphabet's objection covers both GOOG and GOOGL, while seven objectors were outside the original roster. The latest notice describes eligible tokenized stocks generally rather than confirming a launch roster.
How the issuer opt-out works
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 that notice.
If the issuer objects in writing on or before the 30th calendar day after receipt, the venue cannot offer that stock token under the exemption. The venue must then disclose the objection in its public notice within five business days. The process gives issuers an opt-out rather than requiring affirmative consent to list.
What OKXICE plans to offer
OKXICE 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 X Layer.
The venue says its third-party model uses underlying shares held one-for-one through an SEC-registered broker-dealer, with each token representing a security entitlement to one share. It also says neither it nor its affiliates tokenize the stocks themselves.
Its objection section lists issuers without explaining their reasons. According to The Defiant, the venue's website still says "OKXICE TSV is coming."
Source: The Defiant
Trading involves risk.
Risk Disclaimer
