The Public Private Execution Network (PPEX), an alternative trading system (ATS) for exempted digital assets and other private securities, has regulatory clearance to launch in the U.S.
The trading system’s parent, broker-dealer North Capital Private Securities, completed FINRA’s continuing membership application in February and received SEC approval on its Form ATS filing in March, said North Capital CEO Jim Dowd. Those greenlights were all his Salt Lake City firm needed, but it sat on the news until this past Thursday. Now, the company plans to launch with digital asset trading capabilities hardwired into its ATS.
Dowd said that’s a notable difference from many other approved exempted digital asset ATSs, which he said were retooled to handle digital securities only after they were already