The New York Stock Exchange plans to launch a tokenized securities platform that will enable 24/7 trading in U.S.-listed equities and ETFs with on-chain settlement and immediate funding.
According to the platform, the initiative extends the exchange’s market model into blockchain-based infrastructure while keeping traditional shareholder rights and regulatory safeguards in place.
Part of Intercontinental Exchange, the NYSE has started developing a platform for trading and on-chain settlement of tokenized securities and will seek regulatory approvals before launch.
NYSE Plans Tokenized Trading Venue
The planned venue will support tokenized shares that are fungible with traditionally issued securities, as well as securities issued directly in token form. Token holders will retain access to dividends and governance rights under the existing corporate framework.
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It combines the NYSE’s Pillar matching engine with blockchain-based post-trade systems to support continuous, around-the-clock operations. The platform will allow fractional share trading via dollar-denominated order sizes and will use stablecoin-based funding, with the ability to support multiple blockchains for settlement and custody.
The new venue will follow established market structure principles and will distribute access through qualified broker-dealers on a non-discriminatory basis.
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The model aims to maintain alignment between the tokenized venue and existing NYSE markets, limiting liquidity fragmentation between traditional and on-chain trading.
By keeping tokenized securities fungible with their conventional counterparts, the exchange seeks to extend trading hours and settlement options without departing from current standards on investor protection and oversight.
Part of ICE’s Wider Digital Push
The initiative forms part of a broader digital strategy at Intercontinental Exchange, which operates six clearing houses worldwide. ICE is preparing its clearing infrastructure to support 24/7 trading and to accommodate tokenized collateral in margin and settlement workflows.
ICE is working with banks including BNY and Citi to support tokenized deposits across its clearinghouses. The effort aims to let clearing members move funds outside traditional banking hours, meet margin obligations in different time zones and manage funding across jurisdictions using tokenized capital.
