tZERO Announces D.A. Davidson Is Live & Trading on the tZERO ATS
Today’s Announcement Marks an Important Step to Broadening Investor Access to Overstock’s Digital Preferred Shares & Enhancing Liquidity on the tZERO ATS
December 10, 2020 08:30 AM Eastern Standard Time
tZERO, a leader in financial innovation and liquidity for private companies, announced today that it has completed a technology integration for its broker-dealer subsidiaries with FlexTrade, a global leader in broker-neutral, execution and order management trading platforms for equities, foreign exchange, options, futures, and fixed income. This integration enables D.A. Davidson & Co. (D.A. Davidson), a full-service investment firm, to go live and commence trading on behalf of its customers on the tZERO ATS. D.A. Davidson customers are now able to trade Overstock’s innovative Series A-1 shares (OSTKO). The tZERO ATS now has seven active subscribers and has signed two additional agreements with progressive broker-dealers interested in trading digital securities.
Saum Noursalehi, CEO of tZERO, stated, “We are pleased that D.A. Davidson is live and trading on the tZERO ATS. Growing the number of broker-dealers subscribed to the ATS remains a top priority and today’s announcement marks an important milestone in expanding investor participation on our platform.”
D.A. Davidson is an employee-owned financial services firm offering a range of financial services and advice to customers nationwide. The tZERO ATS is used by D.A. Davidson’s growing Equity Capital Markets group, which has offices nationwide and provides capital markets services and products that include investment banking, institutional sales, trading, corporate services, and award-winning equity research.
Monte Giese, President of Equity Capital Markets for D.A. Davidson, said, ”We are committed to providing liquidity and best execution services to a wide range of institutional and corporate investors, including many of the largest mutual fund and money managers in the world. We are excited to now provide them with access to Overstock’s innovative digital preferred shares via the tZERO ATS.”
tZERO is a technology firm with the goal of democratizing access to private capital markets. tZERO is a subsidiary of Medici Ventures, the blockchain-focused, wholly owned subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
