What is Primary Listing and Secondary Trading
Primary Listing refers to the initial offer where a publicly traded company's shares are listed. It is also commonly referred to as capital raise. It could be phrased as the birth of the asset.
Examples of Primary Listings on Bitfinex Securities include: Alternative (ALT2612).
You can check the ongoing capital raises on capital.bitfinex.com in the offerings section.
Secondary Trading or most commonly known as just “Trading” refers to listings that have already had the initial offering from the issuer to the investors then these investors buy and sell to each other and new ones in a public book like the Bitfinex Securities markets.
An example of Secondary Trading on Bitfinex Securities includes any asset on this list.
How to Participate in Primary Listing
Individual members
For AIFC capital raises:
In order to participate in Primary Listing, individual Bitfinex Securities members need to either:
Meet the minimum offering size specific to each individual offering or at least 100,000 USD.
Note: The minimum offering size differs according to the requirements of each listing, for the details of each listing please see the Currencies section of Bitfinex Securities.
For example, the minimum size for Alternative (ALT2612) is 125,000 USDt.Apply for Individual Accredited Investor status.
This professional status allows individual professionals to trade a minimum investment amount across accredited assets listed on the Bitfinex Securities platform, regardless of wallet balance.
For El Salvador capital raises:
Members are allowed to trade the minimum investment amount across all assets listed on the Bitfinex El Salvador Securities platform, regardless of wallet balance.
Corporate members
Corporate accounts are not subject to minimum wallet balances and can place orders in the minimum tradable unit across accredited assets listed on the Bitfinex Securities platform.
How to Participate in Secondary Trading
In order to participate in Secondary Trading, individual Bitfinex Securities members need to:
For AIFC listings:
Establish a wallet balance >= $100,000 USD in a specific offering.
This can be done by buying or depositing a cumulative balance >= $100,000 USD in the particular offering.
Notes:
If the user’s wallet balance in a specific security token is >= $100K, users can buy that asset in the minimum tradable units. These users can also sell any amount if the resulting balance is still above 100k USD worth in these tokens.
If the user’s wallet balance in a specific security token is < $100k, Buyers can only place orders equal to the difference between their wallet balance and $100k or more. Orders need to be Fill-or-Kill orders.
Sellers with a balance < $100K or sellers with initial balance >100K but that the resulting balance after the sell order would be <100K can sell in any size but will have all orders auto-converted to Fill-or-Kill orders.
Apply for Individual Accredited Investor status.
This professional status allows individual professionals to trade in minimum tradable units across accredited assets listed on the Bitfinex Securities platform, regardless of wallet balance.Open a Bitfinex Securities corporate account.
Corporate accounts are not subject to minimum wallet balances and can place orders in the minimum tradable unit across accredited assets listed on the Bitfinex Securities platform.
For El Salvador listings:
Corporate and individual members are not subject to minimum wallet balances and can place orders in the minimum tradable unit across assets listed on the Bitfinex El Salvador Securities platform.
If you have any questions regarding the Bitfinex Securities platform, please feel free to contact the Bitfinex Securities Support team.