> For the complete documentation index, see [llms.txt](https://docs.tallyprotocol.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tallyprotocol.xyz/concepts/issuers.md).

# The three issuers

|                             | Ondo                                       | bStock                                                                                   | xStocks                   |
| --------------------------- | ------------------------------------------ | ---------------------------------------------------------------------------------------- | ------------------------- |
| Symbol suffix in Tally      | `on` (NVDAon)                              | `B` (NVDAB)                                                                              | `x` (NVDAx)               |
| Multiplier onchain          | No (API only)                              | Yes, `uiMultiplier()`                                                                    | Yes, `multiplier()`       |
| Pause check                 | `tokenPauseManager().isTokenPaused(token)` | Shared manager `isTokenPaused(token)`; the token itself has no pause getter              | `isPaused()` on the token |
| Executable in Tally         | Yes                                        | Yes                                                                                      | No (ghost market)         |
| Typical volume on BNB Chain | Moderate                                   | Highest                                                                                  | Almost none               |
| Reference price             | Public RWA data                            | The API returns `null`, so Tally borrows the same ticker's reference from another issuer |                           |

## How the same ticker differs

* **Price per share** is usually within about 0.1% across issuers during US regular hours (Ondo median +0.004% against the US price, bStock +0.062% in the 30 September snapshot). The cheapest issuer changes minute to minute and with order size, so Tally quotes live. In the recorded NVDA quote ladder, Ondo won at $6, $25 and $100 and bStock at $1,000.
* **Routes differ.** The aggregator returns one route from one vendor (LiquidMesh) for stocks. Many Ondo buys route through the bStock pool, so "buying Ondo" often means buying bStock first and swapping on.
* **Trading hours.** Ondo asks for a signed (RFQ) order outside its trading sessions, and Tally cannot send those yet. In Tally, an Ondo token is treated as closed when its live quote says so. See [Selling and Migrate](/product-modules/selling-and-migrate.md).

## What "ghost market" means

A token with under $1,000 of 24-hour onchain volume is a ghost: its quoted price can be days old. This applies to Ondo too (NFLXon traded $16 in the 30 September snapshot). Tally flags it as a ghost, labels it Not Tradable and will not execute against it, which is why some tickers have only one tradable issuer.

## Enabled on ShareGuard

Buying also requires the token to be enabled on the ShareGuard contract. On 8 October 2026, 12 of the 21 supported tickers had only one issuer enabled. Tally checks per token, not per ticker. See [Deployments and enabled assets](/smart-contracts/deployments.md).


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.

Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:

```
GET https://docs.tallyprotocol.xyz/concepts/issuers.md?ask=<question>&goal=<user_goal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.