Walmart and 37 other companies have objected to the trading of tokenized versions of their shares on OKXICE, a venue backed by Intercontinental Exchange, the owner of the New York Stock Exchange. Their objection bars the tokens from trading on that venue for 30 days after the issuers receive notice. The fee structure shows that the venue and its liquidity providers can earn revenue, while primary issuance is prohibited and the companies receive no new share capital. OKXICE also warns that token prices may diverge from the prices of the underlying shares, particularly when traditional markets are closed or liquidity is thin. These objections highlight issuers’ concerns about pricing and recordkeeping risks as tokenized share trading advances.
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