Company licenses BTx
The issuer licenses the BrokerTradeEx platform to open a liquidity channel for its shareholders.
Sell side
Authorized shareholders make offers
Authorized shareholders offer their company shares for sale through the platform.
Offers distributed via FIX tape
Offers are distributed to participating brokers through the FIX tape.
Buy side
Buy-side brokers offer bids
Participating buy-side brokers submit bids, connecting shareholders with buyers.
Brokers match price & quantity
Brokers match offers and bids on price and quantity.
Settlement
Brokers execute the trade
Buy-side and sell-side brokers execute the matched trade.
Trade reported per FINRA 6622
The trade is reported to the FIX tape in accordance with FINRA Rule 6622.
Trade settled at bank escrow
Independent escrow providers handle closing and settlement of funds.
Transfer agent records the change
The transfer agent records the stockholder change of ownership.
How the pieces fit
BrokerTradeEx provides issuer-licensed technology designed to support liquidity channels within applicable regulatory requirements. Companies and shareholders connect with participating registered broker-dealers, which handle execution and required reporting. Independent escrow providers handle closing, and transfer agents record ownership. Each transaction remains subject to applicable securities laws, broker review and transfer requirements.
NTRX licensed platform
Company portal. Broker execution. Independent escrow and transfer agent. BrokerTradeEx provides the technology.