The platform gives issuers, tokenized securities venues and transfer agents a shared record of notices, objections and 30-day deadlines
AUSTIN, TX, UNITED STATES, October 26, 2026 /EINPresswire.com/ — Vertalo, an SEC-registered transfer agent, today launched SecondParty, a platform that manages the notice-and-objection process set out in the U.S. Securities and Exchange Commission’s (SEC) Innovation Exemption. SecondParty connects issuers, Tokenized Securities Venues (TSVs), the firms that create tokens of listed stock, and transfer agents, and records each notice, objection and deadline in one place.
The Innovation Exemption allows TSVs to trade tokenized U.S.-listed stock from September 17, 2026 to September 17, 2031, within limits set by the SEC. Before a TSV trades an issuer’s stock, it must notify the issuer. The issuer then has 30 days from receipt to object in writing; if it does not object, the TSV may trade. An objection applies only to the TSV it is sent to, and each TSV’s notice starts a separate 30-day period. The Exemption does not require a TSV to send a copy of its notice to the issuer’s transfer agent.
Three TSVs have published the public Notice the Exemption requires, and the earliest of them may begin trading on November 3, 2026. According to one TSV’s public Notice of October 23, 22 issuers have objected to trading of their stock on that venue.
Public comment letters filed with the SEC on the Exemption (File No. 4-927) asked for a centralized process for issuers to identify and respond to notices from multiple TSVs, and noted that notices posted on individual TSV websites may not reliably reach issuers.
How SecondParty works
Each party has its own workspace, and all parties see the same notices, dates and objections.
Issuers see each notice about their stock, with the deadline counted from the earliest receipt, and can set standing instructions to object to all TSVs, approve named TSVs, or object while requesting a meeting. SecondParty prepares each objection for signature, keeps proof of delivery and copies the transfer agent.
TSVs send notices, track each issuer’s deadline, record trading halts and SEC suspensions, and keep records available for SEC examination.
Transfer agents see notices and deadlines across their client lists, and tokenizers document the shares behind each token.
SecondParty keeps the record and does not decide disputes between parties. Firms can also connect AI assistants through a Model Context Protocol (MCP) server, using role-based tools within limits each party sets.
As of October 26, 2026, SecondParty’s records list 14,042 token contracts representing 1,383 U.S.-listed stocks.
“The 30-day objection window is the mechanism the SEC built in to give companies a say, and issuers are using it,” said Dave Hendricks, Founder and CEO of Vertalo. “For many issuers, a TSV’s notice was the first word that anyone planned to tokenize their stock, and their teams had 30 days to work out who holds the shares behind the token, how dividends and votes reach token holders, and what the transfer agent sees. SecondParty gives issuers and TSVs a shared system for that work. An issuer that objects today can revisit its decision later, on its own terms.”
Hendricks has worked on tokenization technology for nearly 10 years and is co-chair of the Securities Transfer Association’s Tokenization Committee. In March 2018, Vertalo issued tokenized equity of its own under Regulation D.
Availability
SecondParty is available by invitation starting today. Issuers, TSVs, tokenizers and transfer agents license the platform as enterprise software, with no per-transaction fees. SEC examiners have access at no cost. Invitations can be requested at secondparty.vertalo.com/contact. Figures in this release and briefing requests are available at secondparty.vertalo.com/press.
About Vertalo
Vertalo is a tokenization and transfer agency technology company based in Austin, Texas. Since 2019, Vertalo has provided software for issuing and managing tokenized securities. It has two product lines: its Agentic Tokenization and Transfer Agent Platform, and SecondParty. Vertalo is an SEC-registered transfer agent (Central Index Key 0001793379); registration does not imply SEC endorsement. Vertalo does not operate a trading platform and does not tokenize listed stock on its own account.
Token counts are token contracts of U.S.-listed stock recorded in SecondParty from token issuers’ published lists as of October 26, 2026, counting a token once on each blockchain where it is issued. Operating dates are the earliest each TSV’s published Notice allows.
Company contact: Vertalo, Inc., 500 E 4th St, Suite 642, Austin, TX 78701. Telephone: (800) 218-0635. Email: info@vertalo.com. Web: vertalo.com/contact
Katie Margulies
Kamp Media Relations
+1 908-247-8678
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