Blockchain firm t0.com is building an electronic marketplace to trade US-listed securities during non-US hours following its acquisition of Singapore-based Blue Ocean Financial Technology.
t0 formed a new company, called Blue Ocean Technologies LLC, which will be a subsidiary of t0, to offer the new marketplace to traders and investors outside of regular US hours. Joe Cammarata, president of t0, said its platform has already attracted large clients interested in providing daily liquidity.
"Blue Ocean Technologies will provide investors in the rapidly growing Asian region with an avenue to execute US equities during their usual business hours," Cammarata said.
The platform, approved as an alternative trading system (ATS), not only allows traders outside of the US to have full after-hours access to US markets, but also lets users in the country to track off-hours market movements.
Greg Shinnick, who was the CEO of Blue Ocean Financial Technology and who will serve as a managing member of newly-formed Blue Ocean Technologies, said the partnership with t0 helps in the goal of expanding the global securities market.
"The relationship allows for a broader sphere of access and reach," Shinnick said.
t0 uses distributed-ledger technology for its platforms and runs the PRO Alternative Trading System, which recently supported the issuance of blockchain equity in Overstock.com.
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails