NEW YORK–(BUSINESS WIRE)–Sep. 2, 2020– 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).