What it does
The Secondary Marketplace module enables compliant trading of tokenised assets after issuance, across peer-to-peer, decentralised, centralised, and over-the-counter venues. Because transfer restrictions live in the token itself, a token cannot be traded to an ineligible party regardless of the venue, so secondary liquidity does not come at the cost of compliance. Secondary liquidity is what makes primary issuance attractive.
Powers
Works with
How it works
The Secondary Marketplace takes tokens issued upstream and makes them tradable, working with the Compliance Engine to enforce eligibility on every trade, the Settlement Engine to settle, and Asset Lifecycle Management to keep records accurate.
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Step 1 of 3: List. A holder offers tokens on a peer-to-peer, DEX, CEX or OTC venue.
Key capabilities
P2P / DEX / CEX / OTC
Liquidity across the venues institutions and investors already use.
On-chain eligibility
Transfer rules live in the token, so an ineligible buyer cannot receive it on any venue.
Order matching
Buyers and sellers are matched, then settled through the Settlement Engine.
Liquidity connectivity
Secondary liquidity makes primary issuance more attractive to investors.