Templum Markets, a controlled token trading platform is collaborating with CUSIP Global Services (CGS) to introduce security documentation to tokenized properties. The collaboration is intended to ensure that each token listed on Templum Markets gets a distinctive CUSIP identifier.
According to an announcement sent to the press by both companies, this will go a long way in ensuring that the entire process of trading is unvarying within the depositor portfolios. Templum Markets, which is officially listed as a broker-dealer, is an optional exchange system which also lists tokenized securities on its platform.
On the other hand, CUSIP (Committee on Uniform Securities Identification Procedures) are actually 9-digit identification numbers which are located on the entire security agencies in North America. According to Investopedia, it is also found on a number of offerings by corporate companies in the European Union.
Importance Of The Identifiers
These identifiers can be instrumental in helping to follow-up properties within portfolios owned by investors. Currently, there are over ten million diverse securities, funds, stocks, and initial public offerings within the ecosystem.
According to Chris Pallotta, the Chief Executive Officer of Templum, the idea of assigning of CUSIP digits to security tokens goes a long way in assisting them to come up with first-hand criteria as well as good principles within the virtual assets industry. In his own views, this idea is a turning point moment even as more and more individuals are adopting security tokens.
In many ways, the partnership is dedicated towards establishing standardization as well implementing sound principles in matters regarding both companies. In this way, an enabling environment will be created for both companies to establish sound communication channels to inform the society about their products as well as their capacities to prospective investors.
Over and above, both companies intend to build enhanced liquidity opportunities for investors, and that is why the partnership is a key step towards realizing their objectives.