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tZERO ATS Approved to Support Clearing & Settlement for Its Securities Trading Platform

·7-min read

Approval is a Critical Milestone for tZERO’s Next-Generation Trading Ecosystem & Will Accelerate the Velocity of Asset Onboarding

NEW YORK, October 20, 2021--(BUSINESS WIRE)--tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that its broker-dealer subsidiary, tZERO ATS, has been approved to settle and clear securities transactions for itself and its broker-dealer affiliates. Vertically integrating the clearing and settlement process is a key milestone for the evolution of tZERO’s regulated trading platform. tZERO’s broker-dealer subsidiaries will now be able to onboard, independently and rapidly, additional private securities in its current and future pipeline so customers have access to a greater breadth of investment opportunities, use state-of-the-art technology to accelerate the timing of settlement for private security transactions on its platform, and seamlessly transfer cash and securities to and from another platform to enhance the user experience for the securities trading platform.

In Q4 2021/Q1 2022, tZERO’s broker-dealer subsidiaries plan to onboard at least four additional private securities, including Curzio Research’s Curzio Equity Owners security, MarketSpace Capital’s the Spot @ Myra Park security, American Films’ common equity, and XY Labs’ Class A common stock, and, subject to regulatory approval, launch its unified trading experience. tZERO also plans to continue to align the user experience across asset types by expanding its platform’s functionalities and features, including expanding its digital asset to fiat account funding feature to a variety of cryptocurrencies.

tZERO Interim CEO and Chief Legal Officer Alan Konevsky stated, "Integrating the clearing function is key. We can scale faster and increase our product onboarding velocity. While the digital journey envisions a self-regulating, digitally-native value ecosystem, we recognize the significance of regulated participant roles in the current market as we work to evolve the function of technology, combining the legacy with the innovative. Vertically integrating these functions in the meantime allows us to keep focus and priorities aligned and reduce external variables and dependencies that may impact the existential priority on speed and scale for our business and harmonization of the cross-asset user experience for our customers."

The clearing and custody model will support the current and future private digital securities that trade on the tZERO ATS, which are uncertificated securities with focused blockchain functionality to increase transparency. It will also support NMS securities, which are public securities that trade on national exchanges.

As part of the evolution of its product offering and drive to expand the role of blockchain technology in securities transactions in a compliant manner, tZERO expects, subject to regulatory approval, to implement parallel clearing, settlement, and custodial solutions to support digital asset securities, which are securities issued and transferred on a blockchain, to its platform. Initially, this solution will be implemented through user-directed settlement in partnership with a custodian and, later, in conjunction and in accordance with the Securities and Exchange Commission (SEC)’s statement that outlined how broker-dealers can engage with digital asset securities, including maintaining custody of these assets and settling on-chain without a clearing firm or a custodian.

"tZERO remains committed to evolving legacy systems towards the future of financial technology and innovating the ways securities and value can be custodied, transferred, and traded. We will continue to innovate our trading infrastructure to support next-generation capital markets," concluded Konevsky.

tZERO is a technology firm with the goal of democratizing access to private capital markets. tZERO brings together issuers and financial firms seeking a transparent, automated, digitally-enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens. For more information, visit https://www.tzero.com/.

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. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.

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.

Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.

About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.

tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.

About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at https://brokercheck.finra.org/. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term "digital" refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005179/en/

Contacts

tZERO
Alexandra Sotiropoulos, +1-347-293-1416
asotiropoulos@tzero.com

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