NEW YORK - SecondMarket, which offers an online platform to match buyers and sellers in private companies, seeks US approval to manage transactions, according to the Wall Street Journal, Sunday.
The New York-based firm, which is now the largest vendor of exchange of the shares in companies closely such as Facebook, Groupon, and Twitter, has held preliminary discussions with the Securities and Exchange Commission on a potential "letter of non-action"said the newspaper.
This is to guide the SecondMarket, which is already a broker registered with the SEC, on the way to work.
The discussions come in the midst of further review of trading on secondary markets like SecondMarket and SharesPost. The two companies have increased at a rapid pace over the past two years.
A spokesman for SecondMarket refused to comment on.
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