A joint venture between the Boston Options Exchange (BOX) and crypto tokenization firm tZero has been granted regulatory approval to operate a bourse utilizing blockchain tech for its settlements and market data.
The US Securities and Exchange Commission (SEC) gave the nod to the Boston Security Token Exchange (BSTX) for its Market Data Blockchain product following a lengthy rule review process, according to an SEC notice on Wednesday.
BSTX has been cleared to offer “several proprietary market data products,” similar to those provided by other national securities exchanges in addition to a historical market data product powered by the blockchain.
The move marks the first time the SEC has granted approval for a national blockchain-enabled securities exchange. BSTX will serve as the listing market for eligible companies and issuers of exchange-traded products.