Eight more companies objected to trading on the planned OKX-ICE venue, including ABroadcom and Verizon, deepening resistance to the SEC’s tokenized-stock framework. The pushback creates uncertainty around whether major issuers and Nasdaq will participate in the proposed market structure.
The planned OKX-ICE venue has drawn objections from eight additional companies, with Broadcom and Verizon among the issuers opposing trading in their shares there. The venue would operate within a framework being developed by the SEC for tokenized stocks.
Nasdaq has separately said it would opt out of the SEC’s framework. That places issuer objections alongside an exchange-level refusal to participate, rather than limiting the resistance to individual companies.
For Broadcom, the issue concerns how AVGO shares could be represented and traded through the planned venue. The company’s FY 2025 revenue was $63.9B, with gross and net margins of 67.8% and 36.2%, respectively, but those operating figures do not resolve the separate question of participation in a tokenized market.
The objections leave the proposed listing structure unsettled. The companies’ positions, Nasdaq’s decision and the SEC’s eventual framework are the main open variables for the venue’s rollout.
Further clarity would come from the SEC’s framework process, the companies’ final participation decisions and any formal OKX-ICE listing announcement.
Our take
1 / 7
Our read · Oct 18
Broadcom joined eight companies objecting to tokenized-stock trading on the planned OKX-ICE venue.
Why
The immediate implication is a participation hurdle for tokenized trading rather than a change to Broadcom’s operating outlook: AVGO reported $63.9B of FY 2025 revenue and a 36.2% net margin, while the dispute concerns market structure and issuer consent. Nasdaq’s separate decision to opt out adds institutional resistance, but the eventual SEC framework and any formal venue terms will determine whether the objections materially constrain access to AVGO shares.
What could change this view
The read changes if the SEC adopts a framework that accommodates issuer objections or if Broadcom later participates in the venue.
▲ The case it holds
Broadcom’s objection, alongside Nasdaq’s opt-out and seven other company objections, could limit the planned venue’s issuer coverage and reduce the practical reach of tokenized-stock trading.
▼ The case it breaks
The objection may have little effect on Broadcom’s core business, whose FY 2025 revenue reached $63.9B and whose 36.2% net margin is unrelated to the venue’s rollout.
Reported by CoinDesk as SEC tokenized stock framework faces issuer pushback as Broadcom, Verizon object to OKX-ICE listing, . Who answers for this
Prices: 1D EOD · OCT 16 CLOSE, licensed end-of-day data.
Source: CoinDesk · Published here SUN, OCT 18 · 7:28 PM ET · the only report in this record · How this is decided →
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