Realto. Is. Live!
Yes, we are fully up and running and we are extremely grateful for the many people that have worked so hard to get us here. That includes the entire Realto team, our investors, our clients, and the friends and family that have supported us each step of the way.
As expected, our first trades were in Phillips Edison & Co. (“PECO”) restricted Class B shares, where Realto’s proprietary platform ran exactly as designed. For this, our operations and technology team deserve major kudos.
Technology is the lifeblood of the Realto platform, and we are focused on expanding this team, along with operations, legal, compliance, and sales, to take us to the next level. To that end, we have officially kicked off our Series A fundraising campaign, opening up the opportunity for us to scale and expand our business.
We continue to work with the Securities and Exchange Commission on our ATS approval, which we anticipate will be finalized in January. This designation will allow us to offer new secondary trading opportunities via enhancements like additional order types and two-sided quotes. This is the next important step in the evolution of Realto as a market, simplifying the trading of previously illiquid real estate investments and other alternative securities.
One final note from us: with the PECO trades on the tape and other securities in the queue, we are pleased to report that we continue to receive significant additional buyside interest in the Realto platform. This is an excellent sign, and we look forward to providing further positive reports on this front in the near future.
As we continue to work hand-in-hand with institutions, asset managers, advisors and individuals, we will keep you informed of our progress via our website, LinkedIn, and Twitter. It has been a great ride thus far and we are only getting started!
Thank you, as always, for your support and we wish you and yours a happy and healthy holiday season.
Brian King – CEO