Blockstation has introduced a new Smart Listing Accelerator Process (SLAP) tool for issuers of share tokens, which will simplify the preparation of documentation for placement on the Jamaica stock exchange (JSE).
According to the co-founder and technical Director of Blockstation, Jai Waterman, the tool was created in order for projects to get systematic information about the requirements for issuers of token shares and the terms of placement on the Jamaican stock exchange. SLAP will help remove barriers to market entry for companies that plan to conduct token-share offerings (STOs) but do not know what documentation to prepare to meet the requirements of the JSE and the financial services Commission.
Waterman noted that projects are required to provide comprehensive information so that investors have an understanding of possible risks and know that their rights are protected. All potential risks should be outlined in the company’s prospectus, so SLAP will provide a whole “library” of all sorts of risks that people haven’t even thought about. Startups will only have to choose which of these risks can be directly related to their activities.
In addition, with the help of SLAP, startups will be able to draw up their own prospectus for issuing tokens-shares and receive comments from lawyers. After preparing the necessary documentation, companies will be able to apply directly to the Jamaica stock exchange and the financial services Commission. According to Waterman, the new tool is already used by four companies.
Recall that JSE announced plans to place token shares on its platform about a year ago, after completing a pilot project for trading digital assets with the participation of Blockstation.