NYSE Embraces Blockchain for Proposed 24/7 Equity Trading
The New York Stock Exchange is developing a blockchain-based platform to facilitate the trading and settlement of tokenized securities. Announced Monday, this project could introduce 24/7, cryptocurrency-market hours for US-listed stocks and ETFs, contingent on regulatory approval.
Per a company release, the envisioned platform will offer continuous trading, fractional share investing, dollar-amount orders, and immediate settlement. The design also explicitly accommodates the use of stablecoins for account funding.
To build it, the exchange will combine its core Pillar matching technology with blockchain infrastructure for post-trade settlement and custody. The system is being engineered to work across multiple blockchains and will serve as the foundation for a new NYSE digital securities venue.
Should it launch, the venue would handle asset types ranging from tokenized traditional shares to securities born as digital tokens. Crucially, tokenized shareholders would be entitled to the same economic and voting rights as their counterparts in the traditional system, via qualified broker-dealers.
This tokenization platform is one element within a larger digital strategy at Intercontinental Exchange (ICE), which is readying its clearing infrastructure to eventually operate 24 hours a day, seven days a week.
