Digital Securities
4C and Omega Securities Seek OSC Approval for Digital Asset Platform
Filing with the OSC
Today, a pair of Canadian companies has filed with the Ontario Securities Commission for approval in launching a digital-asset platform. This filing was completed by, both, Omega Securities and 4C Clearing Corporation.
If approved, this pairing of companies should work well together, in providing investors with a comprehensive platform, tailored specifically towards digital assets.
Expansion of Services
With regards to Omega, this filing represents an expansion of services already offered. The expansion will allow for the inclusion of digital assets, in their longstanding ATS.
In doing so, the company will open support for security token offerings, along with leading cryptocurrencies.
Ancillary Services
In their filing, 4C looks to provide a suite of ancillary services, which work to provide clients with a comprehensive platform. These services include, not only a custody solution, but clearing and settlement capabilities as well.
Commentary
In their announcement, Laurence Rose, who maintains roles at both Omega Securities (Chairman) and 4C (CEO), took the time to comment. The following is what he had to say.
“We continue to move our digital asset marketplace and our clearing, settlement and custody solution for regulated investment dealers forward. The filing of Omega's F2 and 4C's request to operate as a clearing agency are natural next steps. We continue to receive support and positive feedback from the regulated investment dealer community and look forward to launching the platform in due course”
Omega Securities
Omega Securities is a Toronto based company, which was founded in 2007. In the time since, Omega has established themselves as an innovative company, providing their clients with a variety of investment based services.
4C Clearing Corporation
4C is another Canadian company, based in Toronto. Launched in 2017, 4C was founded by Laurence Rose – the Chairman of Omega Securities. This young company is looking to establish themselves as a diverse option for companies in need of services such as clearing, settlement, custody.
Ontario Securities Commission
The OSC is the Canadian variant of the Securities and Exchange Commision (SEC). This regulatory body, however, governs the Province of Ontario. The OSC is responsible for, not only the protection of industry participants, but for establishing a fair and transparent market.
While their influence in the industry may be unmatched within Ontario, this may change in the future. There have been rumblings in recent months, regarding a restructuring of regulatory bodies, such as the OSC within Canada. Check out the article below to learn more about the potential fate of the OSC.
Supreme Court of Canada Opens Door to National securities Regulator
In Other News
Beyond the two companies discussed here today, Canada has shown a proclivity for producing companies within the world of digital assets. Here are a few articles discussing companies based out of Canada, and what they have accomplished in recent months
PCF Capital to Host $250 million DSO through KoreConX
Eyeing Digital Securities, Barbados Stock Exchange Chooses Blockstation
