NYSE is seeking regulatory approvals for its trading and on-chain tokenised securities settlement platform.
Lynn Martin
If approved, the launch is set to enable “tokenised trading experiences”, including 24/7 trading of US listed equities and ETFs, instant settlement, orders sized in dollar amounts, and stablecoin-based funding.
Subject to regulatory approvals, the platform will power a new NYSE venue that supports trading of tokenised shares fungible with traditionally issued securities as well as tokens natively issued as digital securities.
Specifically, the tokenised securities platform combines NYSE’s Pillar matching engine with blockchain-based post-trade systems.
This includes the support of multiple chains for settlement and custody, confirmed the trading venue.
Lynn Martin, president, NYSE Group, said: “For more than two centuries, the NYSE has transformed the way markets operate. We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology.
“Harnessing our expertise to reinvent market infrastructure is how we’ll meet and shape the demands of a digital future.”
The venue design offers non-discriminatory access to all qualified broker-dealers.
Read more: The dangers of digital assets and tokenisation
ICE – NYSE’s parent company – is in the process of preparing its wider clearing infrastructure to support 24/7 trading and the potential integration of tokenised collateral.
The strategy includes work with banks including BNY and Citi to support tokenised deposits across its clearinghouses, aiming to help members manage money outside of traditional banking hours, as well as meeting margin obligations and accommodating funding requirements across different jurisdictions.
Michael Blaugrund, VP of strategic initiatives, ICE, explained: “Supporting tokenised securities is a pivotal step in ICE’s strategy to operate on-chain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance.”
NYSE initially proposed plans to expand weekday trading to 22 hours a day back in October 2024, with other trading venues also making strides in the space as the market continues to march towards the prospect of extended trading hours.