MERJ Exchange, a Seychelles-based regulated exchange, has signed an Introducing Broker Referral Agreement with Boustead Securities, a FINRA regulated broker-dealer. The deal will allow US-based investors to trade dual-listed securities on Upstream – part of MERJ.
Upstream is a retail trading platform powered by Horizon Fintex’s blockchain technology. Upstream offers a blockchain powered order book where everyone sees level-2 bids. Upstream offers investors access to dual-listed companies that trade on NASDAQ, NYSE, and over-the-counter (OTC) markets as well as international stock exchanges, including EURONEXT, ASX, NSX, TSX, and CSE. Investors can trade U.S. and international equities using digital payment rails, credit cards, debit cards, PayPal, or USD.
Boustead has been active in the securities crowdfunding sector. Established in 2006, Boustead’s mission is to assist lower middle market private and public companies in all areas of capital markets formation. Boustead also operates FlashFunders Funding Portal, LLC.
For investors wanting to trade on Upstream, they must first register with Boustead to trade securities listed on Upstream as well as other securities.
Boustead is hosting a waitlist with access to Upstream securities expected during Q2 2023.
Upstream explains that its trading platform “removes unnecessary middlemen and does not allow manipulative activities like short selling, stock lending, wash trading, layering or spoofing, which negatively impact legitimate price discovery.” Upstream also offers real-time execution, 20 hours a day, 5 days a week, instant settlement, no institutional market makers, and no payment for order flow.
Boustead Securities’ CEO, Keith Moore, said they by introducing customers and issuers to Upstream, they can offer customers the ability to evaluate the best price discovery and trade 20 hours a day.”
Brian Collins, co-founder of Upstream, noted that Boustead is the first US broker-dealer to join their marketplace.