NYSE Moves Toward 24/7 Trading With Tokenized Equities
The launch of the tokenized securities platform is part of a broader ICE initiative to adapt its clearing infrastructure.
Quick overview
- The NYSE is developing a platform for on-chain trading and settlement of tokenized securities, aiming to modernize market infrastructure.
- If approved, the platform will enable 24/7 trading of tokenized equities with near-instant settlement using stablecoins.
- Investors will retain the same rights as conventional shareholders, and market access will be open to all authorized broker-dealers.
- This initiative is part of ICE's broader strategy to adapt its clearing infrastructure for a continuous trading model.
The initiative is part of ICE’s digital strategy to modernize market infrastructure and enable continuous, blockchain-based trading.
The New York Stock Exchange (NYSE) announced the development of a platform for the on-chain trading and settlement of tokenized securities, a key step in bridging traditional financial markets with blockchain-based infrastructure. The project, which is still subject to regulatory approval, would enable 24/7 trading of tokenized equities, with near-instant settlement and funding via stablecoins.
The initiative is part of the digital strategy of Intercontinental Exchange (ICE), the NYSE’s parent company, and aims to modernize market infrastructure to better align with an increasingly digital and global financial environment.
According to the group, the new platform will combine the NYSE’s Pillar order-matching engine with blockchain-based post-trade systems capable of operating across multiple networks for asset settlement and custody.
How the Platform Would Work
If approved by regulators, the project would give rise to a new NYSE market allowing the trading of both tokenized versions of traditionally issued securities and securities natively issued in digital form. The exchange emphasized that investors holding tokenized shares would retain the same economic and governance rights as conventional shareholders, including dividend payments and voting rights. Market access will be non-discriminatory and open to all authorized broker-dealers, in line with longstanding market structure principles.
One of the platform’s key differentiators will be the ability to trade around the clock, seven days a week, with virtually instant settlement and orders denominated directly in U.S. dollar amounts—an approach designed to reduce operational frictions and costs associated with traditional processes.
Another Step in ICE’s Digital Strategy
The launch of the tokenized securities platform is part of a broader ICE initiative to adapt its clearing infrastructure to a continuous trading model. In this context, the group is already working with banks such as BNY and Citi to enable tokenized deposits within its clearinghouses.
The goal is to allow clearing members to transfer and manage funds outside traditional banking hours, meet margin requirements, and address financing needs across different jurisdictions and time zones.
“For more than two centuries, the NYSE has transformed the way markets operate. Now we are leading the way toward fully on-chain solutions, combining trust, high regulatory standards, and cutting-edge technology,” said Lynn Martin, President of NYSE Group.
ICE executives stressed that securities tokenization is central to the company’s long-term vision. “Supporting tokenized securities is a critical step toward operating market infrastructure on-chain for trading, settlement, custody, and capital formation in the new era of global finance,” said Michael Blaugrund, Vice President of Strategic Initiatives at ICE.
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