Overstock reveals tZERO trading platform

Posted: 9 April 2018 2:21 pm

The software displays positions, portfolio balance, token values, order history and market data.

American Internet retailer Overstock has revealed the prototype for its tZERO trading platform, designed to support its forthcoming security token that is currently being sold through an initial coin offering (ICO).

In a demonstration video posted on the company’s website, tZERO explains how security tokens might be traded on the blockchain-based front-end platform. You can check out the full video below.

tZERO’s platform will be integrated with the company’s existing risk management software, order management system, matching engine and other proprietary technology to support the eventual trading of security tokens.

The platform displays positions, portfolio balance, open orders, token values, order history and market data.

In a disclaimer, tZERO notes that there are substantial technological, legal and other requirements that must be addressed before the platform turns operational. However, the software is expected to go live next month.

“Technologically speaking, we anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity,” tZERO president Joe Cammarata said in a statement. “We have been working hard on getting this prototype right and look forward to user feedback.”

tZERO reports that it raised $100 million during the discounted pre-sale for its ICO. The company has begun its subsequent sale period, offering tokens at a price of $10 each, subject to discounts and other concessions.

On March 1, 2018, tZERO announced that it had extended the security offering until May 14, 2018.

Around the same time, the company had its ICO placed under review by regulator, the Securities and Exchange Commission (SEC), requesting tZERO provide certain documents related to the offering and the tokens.

Overstock relayed concerns about the difficulties it faces in obtaining approval for tZERO’s trading system.

“Assuming that tZERO is able to develop a token trading system, numerous regulatory authorities, including FINRA and the SEC, would need to permit the trading system to become operational,” according to the filing.

Earlier this year, finder.com reported that tZERO would provide advisory services to WENN Digital and offer recommendations regarding secondary trading of KODAKCoin. These were expected to begin in late January. However, to date, tZERO has not provided the aforementioned services to WENN with respect to KodakCoin.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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