Ondo Finance Calls for SEC to Delay Nasdaq’s Tokenization Rule Change
- Ondo Finance submitted a letter to the SEC urging a delay on Nasdaq’s proposed rule change for trading tokenized securities.
- The firm expressed concerns over transparency and fair market access, stating that details on post-trade settlement by the Depository Trust Company (DTC) are unclear.
- Ondo highlighted that unequal access to information could disadvantage smaller firms compared to larger incumbents in the market.
- The SEC is asked to conduct a formal review, which may lead to disapproval of Nasdaq’s plan if transparency is not improved.
Ondo Finance’s request emphasizes the need for clarity in the tokenization process, as it believes that current ambiguities hinder fair competition among market participants. The call for transparency aims to ensure all firms have equal access to critical information related to tokenized assets.
As Ondo seeks a delay from the SEC, it underscores the importance of publicizing DTC processes before proceeding with Nasdaq’s tokenization plan. This could significantly impact how smaller firms navigate market changes.(Source)
