This Announcement Marks an Important Step to Broadening Investor Access and Enhancing Liquidity on the tZERO ATS
tZERO, a leader in financial innovation and liquidity for private companies, announced today that it has completed a technology integration with Sterling Trading Tech, a leading global provider of trading and compliance solutions. This integration enables two of Sterling Trading Tech’s broker-dealer customers, MM Global Securities, a boutique Wall Street brokerage firm that provides a convenient trading solution, and a brokerage and clearing company offering sophisticated clearing, settlement, and custody services, to be live and trading on the tZERO ATS.
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Sterling Trading Tech provides its various front-end trading platforms and order management system (OMS) to broker-dealers, clearing firms, hedge funds, and buy-side trading institutions. The integration allows broker-dealer licensees of Sterling Trading Tech’s technology to easily access the tZERO ATS, subject to the tZERO ATS’s onboarding process for subscribers. With over 100 clients, including leading brokers, clearing firms, and prop groups, in over 20 countries, Sterling Trading Tech supports tens of thousands of users worldwide and provides links to over 80 execution venues in the U.S. Sterling Trading Tech currently touches over 5% of the daily U.S. equity volume.
tZERO CEO Saum Noursalehi stated, “Through the integration with Sterling Trading Tech, we are excited that two new broker-dealers are live and trading on the tZERO ATS. One of our top priorities is to continue to grow and diversify the subscriber base of the ATS and today’s announcement is another catalyst to help broaden investor participation on our platform.”
The customers of these broker-dealers are now able to trade the digital securities that trade on the tZERO ATS. The tZERO ATS currently has six active subscribers and has signed three additional agreements with progressive broker-dealers interested in trading digital securities.
Sterling Trading Tech CEO Farid Naib stated, “As the industry is seeking exposure to digital securities, we are excited to provide both our existing and future clients access to these innovative securities that trade on the tZERO ATS.”
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).
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
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