AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Securrency, Inc. Securrency, a provider of financial and regulatory technology products for the issuance and trading of tokenized securities.
Through this partnership, Securrency’s dynamic technology solution will allow AX clients to conduct secure and regulatory-compliant primary Digital Security Offerings (DSOs) and enable security tokens to eventually be listed and traded on the AX ATS, a regulated secondary trading market. AX intends a complete integration of Securrency’s proprietary Rules Engine and Compliance Aware Token (CAT) standard – helping to foster the adoption of a global compliance standard.
George O’Krepkie, AX CEO said: “We are confident that the combination of AX’s market experience and regulatory stack with Securrency’s industry-leading technology offers the market a premier platform to issue and trade digital securities in a secure and compliant way. We selected Securrency as a technology partner because of its strong emphasis on regulatory compliance as well as a wide range of supporting capabilities that we did not find anywhere else in the market.”
Jeff Truitt, Chief Corporate Development Officer of Securrency said: “We have a pipeline of digital security offerings, and most of our issuers are looking for venues offering secondary liquidity. AX brings institutional connections to the digital securities market and provides new avenues for adoption, and George O’Krepkie has decades of financial expertise that will benefit the entire market for digital securities.”
The AX Trading team has built several trading and liquidity solutions across the global fixed income and equity markets. O’Krepkie went on to say, “AX Trading and Securrency share a common view of the importance of blockchain-based digital securities technology to the traditional financial markets.”
It is expected that the first digital security offering may commence as soon as January 2019, and that the AX Trading ATS may be ready to list digital securities in 2019.