Three firms tell the SEC they plan to run tokenized-stock venues, including OKXICE and Perpetuals.com, under its September exemption

The SEC's list of tokenized securities venue notices now shows three names. A page run by its Division of Trading and Markets shows three entities that have notified the Commission they intend to operate as tokenized securities venues, or TSVs, under the Innovation Exemption: TSV LLC, which filed on September 23; OKXICE TSV, on October 4; and Kephas Corporation, doing business as Perpetuals.com, on October 14. The SEC page shows it was last updated on October 21.

The exemption, issued September 17 as Release No. 106402, gives temporary, conditional relief from the definition of an exchange in section 3(a)(1) of the Securities Exchange Act of 1934. Crypto Times describes it as a five-year exemption that excludes synthetic tokens that only track a stock's price. Under its conditions, a venue must post a notice prominently on its public website at least 30 calendar days before operating and notify the SEC at a staff email address within one business day of posting.

Appearing on the list is not an approval. The SEC page says staff do not review the merits or accuracy of the notices and that a listing does not mean a firm satisfies the exemption's conditions. The page does not describe what any of the three plans to trade or when it plans to start, and Crypto Times said Perpetuals.com has not announced a launch date, initial stocks or blockchain. Crypto Times separately reported that nine US companies, including Broadcom, Verizon Communications and UnitedHealth Group, objected on October 18 to tokenized trading of their shares on OKXICE.

What happens next: comments on the order are being taken under file number 4-927, and each venue must post its notice at least 30 calendar days before it operates, so the date of that posting sets the earliest it could open.