tZERO Announces Two New Broker-Dealers Are Live & Trading
May 28 2020 - 8:30AM
Business Wire
Announcement Marks an Important Milestone in
Enhancing Liquidity on the tZERO ATS;
Provides Access for More Investors to Trade
Overstock’s Innovative Series A-1 Dividend
tZERO, the global leader in blockchain innovation for capital
markets, announced today that broker-dealers ChoiceTrade and a
multinational, publicly-traded investment bank and financial
services company focused on institutional brokerage are now live
and trading on the tZERO ATS. These broker-dealers join Dinosaur
Financial Group, LLC as subscribers to the tZERO ATS. Customers of
those broker-dealers are now able to trade Overstock’s innovative
Series A-1 dividend shares, which were issued to Overstock
shareholders last week. These firms and their customers are
expected to have access to TZROP (tZERO's preferred equity
security) and other assets that trade on the tZERO ATS in the near
future. The tZERO ATS now has three active subscribers and has
signed four additional agreements with progressive broker-dealers
interested in trading securities.
tZERO CEO Saum Noursalehi stated, “Our primary objective in
partnering with Overstock on its digital dividend was to enhance
liquidity on the tZERO ATS. The launch of two new broker-dealers
marks an important milestone toward achieving this objective. These
subscribers, together with existing agreements with other
broker-dealers, will meaningfully increase the number of investors
able to trade digital securities. Today’s announcement is also
exciting as it will make our platform more attractive to
prospective issuers.”
ChoiceTrade is a brokerage firm with extensive experience in the
securities industry and a global footprint with clients in
approximately 100 countries. ChoiceTrade provides its customers
with online trading of equity securities and options, and now
intends to expand its services to include the innovative securities
traded on the tZERO ATS.
ChoiceTrade CEO Neville Golvala shared, “ChoiceTrade has been a
pioneer in the online brokerage market since our founding twenty
years ago. Today’s announcement illustrates our ambition to
continue to innovate and influence the technological and regulatory
initiatives that shape our industry. Subscribing to the tZERO ATS
aligns with this mission by providing our customers with the
ability to trade innovative securities, which we believe is the
future of the industry.”
tZERO ATS is a wholly-owned subsidiary of tZERO Group Inc., a
technology firm that was founded with the goal of utilizing
distributed ledger technology (DLT) to revolutionize Wall Street so
that it is more efficient, accessible and transparent. 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 digital 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 digital
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 the 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.
About tZERO
tZERO Group, Inc. (tZERO) is a majority-owned subsidiary of
Overstock.com, focusing on the development and commercialization of
financial technology (FinTech) based on cryptographically-secured,
decentralized ledgers – more commonly known as blockchain
technologies. Since its inception, tZERO has pioneered the effort
to bring greater efficiency and transparency to capital markets
through the integration of blockchain technology. 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 www.finra.org.
About ChoiceTrade
Founded in 2000, ChoiceTrade is an advanced-technology
securities brokerage firm that is an SEC-registered broker-dealer
and member of FINRA and SIPC. For more information about
ChoiceTrade, visit www.choicetrade.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200528005480/en/
tZERO Media: Alexandra Sotiropoulos,
+1-347-293-1416 asotiropoulos@tzero.com
Investors: Michael Mougias, +1-347-293-1248
mmougias@tzero.com
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