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SharesPost Announces ATS Approval for Secondary Trading of Security Tokens

The SEC approval paves way for SharesPost to launch its recently announced security token exchange platform in H2 2018

SAN FRANCISCO, May 14, 2018 /PRNewswire/ -- SharesPost, a leading provider of late-stage private company liquidity solutions and private capital markets research, today announced that it has secured regulatory approval for its Alternative Trading System (ATS) to list and facilitate secondary trading of the emerging tokenized securities asset class. This will allow security token issuers and investors to invest in ICOs and trade in digital securities in compliance with U.S. securities laws through the SharesPost private marketplace.

CEO of SharesPost Digital Securities John Wu said, "This is a landmark moment for SharesPost. We saw a need from our investors to expand their portfolios by having the opportunity to participate in Initial Coin Offerings and trade tokenized securities. The ATS approval allows SharesPost to be one of the first companies to operate in this capacity. We are excited to have the green light from the SEC to grow this new arm of our service.

SharesPost has been a pioneer in the private capital markets for nearly a decade, offering new opportunities to investors and businesses who are unable to leverage traditional IPO and equities markets. Now, with the launch of the SharesPost Digital Securities Group the company is adapting its existing ATS and proven transaction capabilities in unregistered securities to the quickly emerging security token market. The platform will also provide investors with the digital custody capability of SharesPost's Private Brokerage Account, as well as investment research and transaction data on leading token issuers.

"The progression of secondary markets for equities from an entrenched financial product to innovative platforms is happening faster than investors and regulators have anticipated," said SharesPost CEO Greg Brogger. "SharesPost Financial, our broker-dealer, is one of the first broker-dealers the SEC has cleared for approval in this emerging space. This is a significant milestone for SharesPost as we expand into a tokenized world, bringing our industry expertise to the burgeoning security token market."

The U.S. Securities and Exchange Commission official approval of SharesPost's Alternative System Trading License (ATS) for security tokens is dated to April 16, 2018, and is effective unless noted otherwise. For more information on SharesPost visit https://sharespost.com.

About SharesPost:
SharesPost's mission is to create liquidity for the private growth asset class.  In 2009, SharesPost launched the first online secondary market for private technology company shares.  Since then, SharesPost has connected thousands of buyers and sellers in more than $4 billion worth of transactions in the shares of more than 200 leading technology companies.

The SharesPost platform now also enables clients to access a variety of private market investment and liquidity solutions including (i) research and data on leading private technology companies, (ii) the SharesPost Private Growth Index, (iii) the SharesPost100 Fund, a registered mutual fund providing all investors with easy access to the asset class, and (iv) SharesPost Lending, which enables private company shareholders to borrow against their shares.  In 2017, SharesPost managed its first Initial Coin Offering and in 2018 announced plans to integrate trading of digital securities into the SharesPost platform.

SharesPost is a FINRA-registered broker-dealer, SEC registered Alternative Trading System and Registered Investment Advisor. For more information, visit sharespost.com.

Cautionary Note Regarding Forward-Looking Statements:

The matters described herein contain forward-looking statements. These statements include, but are not limited to, statements about research on late-stage, venture-backed companies. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond SharesPost's control. These factors include, but are not limited to, factors detailed in the white paper.

Media Contact:
Allison Simon
[email protected] 
(917) 900-5749

 

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SOURCE SharesPost

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