tZERO ATS stands as the security token trading platform of Overstock, and has recently integrated the market data as a service of Refinitiv into its overall ecosystem. With these new collaborations, the broker-dealers and institutions of Refinitiv’s client base will gain market data access regarding digital securities being traded within the tZero alternative trading platform.
Joining Up To Provide Comprehensive Services
Refinitiv’s real-time data will be made available to tZERO users, coming in a bid to reduce the need for infrastructure investment, all the while simplifying real-time price information’s access. It should be noted that Refinitiv’s platform used to be the Financial and Risk business of Thomson Reuters, given over during an acquisition deal.
Refinitiv stands as a financial data vendor, providing a massive array of cross-asset data. With more than 40,000 institutions spread across 190 countries, taking part, multiple asset classes and regions can be analyzed and investigated by clients.
Seeing Constant Expansion
Refinitiv’s Eikon terminals directly compete against the terminals that Bloomberg provides, and is already scheduled to acquire the London Stock Exchange. This deal is worth a staggering $27 billion, with the LSE stating that there’s a lot of overlap with Refinitiv. In particular, the LSE highlighted property, technology, as well as corporate functions, culminating in Refinitiv combining the exchange’s generated data with that of the analytics and distribution it already has.
Saum Noursalehi stands as the CEO of tZERO, and highlights the overarching focus of the firm. He described this focus as driving the adoption of digital assets forward, with today’s announcement being particularly exciting then. With more financial services professionals gaining easy access to tZERO ATS, awareness can be expanded for these types of securities.
Successful Launch of tZERO Markets
This announcement occurred after tZERO Markets, the broker-dealer arm of the firm, launched its web application, and opened itself for business. The retail brokerage services of tZERO include electronic execution, sales trading, as well as portfolio execution, doing so for clients from both buy- and sell-side.
tZERO Markets stands as a fully-owned subsidiary of tZERO, as the name would apply. This subsidiary allows the firm to serve retail traders on top of their normal accredited investors, further providing token issuers with placement agents and investment banking services. Through these services, token issuers are, in turn, capable of capital raising activities.
It’s been several weeks since the Financial Industry Regulatory Authority, or FINRA, had given approval for tZERO Markets’ membership application. The firm had also opted to register with the Securities and Exchange Commission prior to its launch.