U.S. SEC approves new U.S. exchange with blockchain feed, faster settlement – Reuters

U.S. SEC approves new U.S. exchange with blockchain feed, faster settlement – Reuters

NEW YORK, Jan 28 (Reuters) - The U.S. Securities and Exchange Commission (SEC) late on Thursday approved the country's 17th stock exchange, a subsidiary of Boston-based BOX Exchange, which will incorporate blockchain technology.

The new exchange, named BSTX, aims to launch in the second quarter, said Jay Fraser, a director. It will initially trade securities, such as stocks or exchange-traded funds, first listed on its exchange, but those securities would be tradable on rival bourses.

BSTX ultimately aims to expand trading to all U.S. stocks and potentially tokenized securities, Fraser said. Stock tokens are digital versions of equities pegged to the underlying share, usually traded in fractional units.