Microsoft, Alphabet, Goldman object to OKX-ICE tokenized stock venue; tally hits 16
In brief
- Microsoft, Alphabet and Goldman Sachs objected to tokenized trading of their shares on OKXICE.
- Qualcomm, Caterpillar, McDonald's and Western Digital also joined the objectors in the Oct. 19 notice.
- Disclosed objectors now total 16 companies, up from nine a week earlier.
- The notice doesn't give the issuers' reasons or say when they objected.
Seven more names in one week
Qualcomm, Caterpillar, McDonald's and Western Digital also joined the list in the Oct. 19 notice. That's seven additions in a single update. The disclosed count now stands at 16 companies, up from nine in the previous week's notice, according to CoinDesk.
They join earlier objectors including Broadcom, Verizon, UnitedHealth, CoreWeave, AppLovin, Applied Digital, Rocket Lab and Applied Optoelectronics (a list that cuts across telecom, healthcare, AI infrastructure and aerospace).
What the notice leaves out matters too. It doesn't explain the companies' reasons, and it doesn't specify when any of them submitted their objections.
So the "why" is still blank.
How the original roster breaks down
OKXICE's original notice identified 63 tickers representing 62 companies, with Alphabet appearing through both of its share classes. By CoinDesk's count, 15 of those companies have now objected, which leaves 47 without a disclosed objection.
The 16th objector is the odd one out. Cerebras Systems wasn't on the original proposed trading roster at all, yet it still shows up on the list of issuers saying no.
The SEC framework behind the venue
OKXICE announced its plans on Oct. 5, seeking to operate under the SEC's five-year "Innovation Exemption." As CoinDesk describes it, the framework allows qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools, while giving issuers an opportunity to object.
That objection right is what these companies are using. CoinDesk reported that the growing list highlights a hurdle for the SEC's new tokenized stock trading framework, which was unveiled last month.
Sixteen issuers have now said no through the notices. Forty-seven companies on the original roster haven't, at least not in anything OKXICE has disclosed so far.
Frequently asked questions
What is OKXICE?
OKXICE is a planned stock-trading venue from crypto exchange OKX and NYSE parent Intercontinental Exchange (ICE). It announced its plans on Oct. 5, seeking to operate under the SEC's five-year Innovation Exemption.
How does the SEC's tokenized stock framework let companies object?
According to CoinDesk, the framework allows qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools, while giving issuers an opportunity to object. Companies such as Microsoft, Alphabet and Goldman Sachs have objected to tokenized trading of their shares on OKXICE.
How many companies have objected to trading on OKXICE?
OKXICE's Oct. 19 notice put the disclosed tally at 16 companies, up from nine a week earlier. CoinDesk counted 15 objectors from the original roster of 62 companies, leaving 47 without a disclosed objection. The other objector, Cerebras Systems, wasn't on that roster.
