My $VOO, which is an ETF tracking the S&P 500, was bought at @BITofficial_CN. Basically, future regular investments in VOO will be executed on BIT to avoid some troubles. Although almost all exchanges now deal with real U.S. stocks, not having diplomatic relations will still reduce some complications.

Because BIT uses the Omnibus framework, I have previously written about the relationship between Fully disclosed, Omnibus, OmniSub, and CRS. Essentially, the Omnibus framework requires CRS reporting, but since Bhutan and China do not have diplomatic relations, and Bhutan is also one of the very few countries not participating in the CRS system, there will be no CRS issues.

Additionally, BIT has newly partnered with Clear Street, an American institutional-level clearing service provider. Clear Street is not an ordinary retail brokerage API; it is more biased towards institutional brokerage infrastructure, covering clearing, custody, execution, financing, risk control, and reconciliation, with clients including broker-dealers, hedge funds, market makers, and ETF issuers.

For a broker like BIT, integrating Clear Street will bring the underlying clearing, settlement, corporate actions, dividend processing, and risk management of U.S. stocks and ETFs closer to institutional-level processes.

Currently, BIT has established partnerships with three licensed American institutions: Clear Street, RQD Clearing, and Atomic Vaults Securities (AVS). The multi-institution parallel clearing structure can effectively disperse operational risks of the platform and enhance the stability and continuity of transactions.

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