FIX Calls for Standards as Retail Brokers Enter Tokenisation
The FIX Trading Community has called for greater standardisation of tokenised assets, saying inconsistent data, workflows and market practices could slow wider adoption.
The industry association made the comments in its response to a joint consultation by the Financial Conduct Authority and the Bank of England on the future of tokenisation in UK wholesale markets.
That concern comes as financial firms and market operators continue to test tokenised securities and related infrastructure. Robinhood has launched more than 200 tokenised stocks for European customers, while eToro has announced plans to tokenise US-listed equities, initially targeting 100 of its most popular stocks. eToro CEO Yoni Assia described the move as part of the company’s “journey towards a tokenized future.”
The developments extend beyond retail brokers. CMC Markets recently tested a tokenised share transaction in the UK. Murex and Quant have worked on integrating digital assets into existing workflows, while SBI Holdings and Startale have been testing settlement and interoperability. The World Federation of Exchanges has also raised questions around ownership, custody and market integrity.
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