The NYALA Co-Listing Network feature enables tokenized securities to be distributed simultaneously across multiple investment platforms, breaking down traditional platform barriers and using network effects for raising more capital. It is built on a regulatory compliant infrastructure with support for both ECSP and MiFID regulations. and allows for cross-border securities distribution across the EU.
In this chapter, you will learn how to integrate multi-platform securities distribution into your existing workflows.
The co-listing workflow involves four key parties orchestrated through the NYALA platform:
The Originator sources the asset, owns the relationship with the Issuer (or are the Issuer themselves), creates a co-listing request, selects partner platforms, allocates token supply to each Co-Lister and uploads the required project and Issuer information
NYALA acts as the centralized hub, storing project information and coordinating payments between all parties without sharing sensitive investor data
Co-Listers review incoming requests, decide to accept or reject offerings, and list approved opportunities on their platforms to offer the asset to their own investors
Our Liability Umbrella Partner, Concedus GmbH, reviews Co-Lister-specific KYC and investment data to ensure full compliance
The NYALA co-listing feature provides all the required functionalities for multi-platform securities distribution.
The feature works via a mix of web interface and API calls:
Web portal: Create a co-listing request (Originator view), review incoming co-listing requests (Co-Lister view)
API: submit investor and investment data for Co-Lister investors to the NYALA system
Note: Due to the co-listing legal setup, Co-Lister investor and investment data is submitted to NYALA's liability umbrella partner for compliance review. However, the Co-Lister's investor data remains fully anonymized for the Originator and investor data is never shared between Originators and Co-Listers.
The following co-listing functions are currently available through the NYALA web portal, with API integration planned for future releases:
Create and manage co-listing requests with project details, partner selections, and token allocations
Review, approve, reject, and cancel co-listing requests
Track token subscription across Originators and Co-Listers in real-time
Coordinate token allocations across the network (initial allocation and subsequent increases)
Blockchain-Native Distributions: Automated on-chain coupon, interest, and principal payments in EUR stablecoin (Monerium EURe)
Automated Tax Handling: Integration with tax partners for German withholding tax calculations and payments
This API documentation provides detailed specifications for integrating with NYALA's co-listing infrastructure. As a co-listing platform, you can use the API to submit investor KYC and investment data when your users opt into co-listed offerings. This data is submitted directly to NYALA's liability umbrella partner for compliance review as required by the co-listing legal framework.
Note: You do not need to wait for the liability umbrella’s decision to accept any given investor; just like NYALA, they only need to receive the data.