Bittrex, Rialto join hands to offer digital securities trading platform
Rialto, an alternative trading system is joining hands with Bittrex to develop a digital securities trading platform. Rialto will diversify its ATS operations to include blockchain based securities after obtaining approval from regulatory authorities. According to the Bittrex press release both companies are in discussions with the regulators to launch the new platform.
The tie-up aims to exploit Bittrex's blockchain industry experience and Rialto's tools and securities industry expertise to 'create a comprehensive securities offering'. The ATS will enable US dollar trading against digital securities. Also, Rialto aims to provide services to the digital asset securities ecosystem, including issuance advisory services, trading, placement, and custody.
Rialto Trading is teaming up with #Bittrex to expand Rialto’s Alternative Trading System (ATS) to include blockchain-based (digital) securities, pending approval from regulators. Details: https://t.co/JBoSCvJ6hM pic.twitter.com/gGX9D0t0LO
— Bittrex (@BittrexExchange) August 23, 2018
The press release quoted Rialto Trading CEO, Shari Noonan as saying, "We are excited to share Rialto’s expertise in building networks and trading solutions in the regulated securities industry to develop this new venture in partnership with Bittrex. By working together, we’ll be able to expand our current client offerings to not only include digital securities but also provide them access to a globally advanced and reliable trading platform.”
Bittrex CEO, Bill Shihara commented, “It takes a unique combination of advanced technology and financial expertise to build and launch an efficient, reliable and secure platform for trading digital securities, and we found the ideal partner in Rialto and its CEO, Shari Noonan. We’re merging Bittrex’s technology, cybersecurity, and blockchain expertise with Rialto’s deep knowledge of the securities industry. And, when you add that foundation with Rialto’s extensive background in financial services, including Shari’s experience at Goldman Sachs and Deutsche Bank, this new venture is well-positioned to further advance blockchain’s adoption by offering a comprehensive solution at the right time.”
Rialto trading strives to create new virtual marketplaces and sources of liquidity. They seek to develop new trading tools for securities. The new team intends to open accounts for institutional investors, accredited investors, corporations, and U.S.-registered broker-dealers who wish to trade digital securities on ATS. They will also support issuers who want to trade their digital securities on the ATS.
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