Intel, Oracle, IBM and quantum computing firm IonQ have joined the list of companies objecting to trading of their shares on OKXICE TSV, according to an updated public notice from the venue dated Oct. 26. The additions bring the total number of objecting issuers to 26.
The roster has expanded quickly. It stood at 22 in the venue's Oct. 23 notice, which added Wells Fargo, Cisco and Marvell, up from 16 on Oct. 19 and nine on Oct. 15. The first batch included Verizon, Broadcom and UnitedHealth Group. In less than two weeks, the list has nearly tripled.
Technology companies dominate the objections. Microsoft, Alphabet, Broadcom, Qualcomm, Arm, Cisco, Intel and Oracle have all objected, along with banks Goldman Sachs and Wells Fargo. IBM and IonQ add two quantum computing players to the group. The notices do not explain the companies' reasons or what an objection means for whether a stock can trade on the platform.
Planned 24/7 trading venue
OKXICE TSV is a planned 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX's U.S. holding company. It plans to let approved users trade tokenized U.S. stocks 24/7 through permissioned Uniswap v4 liquidity pools on OKX's XLayer blockchain, paired with stablecoins such as USDC.
Users must pass identity and sanctions checks and hold a nontransferable "soulbound" token to trade. The venue is set to operate under the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act stalled in the Senate.
SIPC uncertainty flagged
The latest notice highlights a key risk for investors. Each token represents a claim on a real share held by a third-party "tokenizer" through a registered broker-dealer. If that broker-dealer failed, the notice says, it is uncertain whether tokenized shares in a self-custodied wallet would count as customer property or be covered by the Securities Investor Protection Corporation, which protects brokerage customers when firms fail.
The notice also says trades must be fully funded, with no margin or borrowing. Liquidity providers do not have to be registered market makers and can pull their liquidity at any time. OKX and ICE first teamed up on tokenized securities earlier this year before unveiling plans for the venue this month.
