What is a Secondary Market?

A secondary market is a digital environment where investors can find opportunities to buy or sell existing security tokens from other participants after the initial offering has closed. Instead of being locked in until the final divestment of the asset, a secondary market framework introduces alternative liquidity options, allowing investors to adjust their portfolios or exit their positions peer-to-peer.

How the Rubey Bulletin Board Operates (Targeted Late 2026)

To facilitate liquidity in a fully compliant manner, Rubey is developing a dedicated Bulletin Board, targeted for implementation by the end of 2026.

In strict accordance with European financial regulations, this Bulletin Board does not operate as an automated trading venue, multilateral trading facility (MTF), or central order book. Instead, it functions purely as a decentralized, non-discretionary advertising platform to bring buyers and sellers into contact:

• Displaying Interest: Investors who wish to sell their security tokens can publish a unilateral, non-binding expression of interest (an advertisement) on the board, indicating their token holdings and an indicative price.
• Direct Negotiation & Contact: Interested buyers can browse these advertisements. The Bulletin Board merely brings the two parties into contact, allowing them to initiate a bilateral transaction directly with one another.
• No Automated Matching: The Rubey platform does not automatically match buy and sell orders, nor does it execute trades or determine market prices through an algorithm. Every transaction is the result of an independent, bilateral decision between two verified users.
• Compliant Settlement: Once both parties mutually agree to a transfer, the actual settlement is verified at the protocol level. The system strictly ensures that tokens can only be transferred to an identity-linked, whitelisted wallet of an investor who has fully completed the KYC process.

By implementing this peer-to-peer Bulletin Board structure, Rubey provides a compliant channel for secondary liquidity while respecting the clear boundaries of non-regulated trading interfaces.