Hester Peirce (@HesterPeirce) “If people want to understand what synthetics mean to me in this context, see the” — TopicDigg
Hester Peirce
@HesterPeirce
SEC Commissioner since 1/2018. My tweets may not reflect the views of the SEC or any other SEC Commissioner. No direct messages, but CommissionerPeirce@sec.gov
加入 June 2012
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If people want to understand what synthetics mean to me in this context, see the staff statement on tokenization, which distinguishes tokenized versions of issuer-sponsored stocks and of stocks that SEC-registered firms hold for their customers from synthetic instruments that provide exposure to stocks.
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I appreciate the interest in--but not the hyperbole about--the contemplated innovation exemption for the onchain trading of tokenized NMS stock. Keep in mind: I've always expected that it'd be limited in scope & would facilitate trading only of digital representations of the same underlying equity security that an investor could purchase in the secondary market today, not synthetics.
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