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The New York Stock Exchange is developing a platform to trade tokenized securities around the clock with instant settlement, parent company Intercontinental Exchange announced in a statement Monday.
The platform will enable trading of U.S. listed equities and exchange-traded funds 24 hours a day, seven days a week, with immediate settlement through blockchain technology, according to the announcement. The venue will also support fractional share purchases and stablecoin-based funding.
NYSE plans to seek regulatory approvals for the platform, which combines its Pillar matching engine with blockchain-based post-trade systems capable of supporting multiple chains for settlement and custody.
The platform is designed to handle both tokenized versions of traditionally issued securities and tokens natively issued as digital assets. Tokenized shareholders would retain traditional dividend and governance rights, ICE said.
Lynn Martin, president of NYSE Group, described the initiative as extending the exchange's history of market transformation while maintaining regulatory standards and investor protections.
The development is part of a broader digital strategy at ICE, which operates six clearinghouses globally. The company is working with BNY and Citi to support tokenized deposits across its clearinghouses, enabling clearing members to transfer funds and meet margin requirements outside traditional banking hours.
Michael Blaugrund, ICE's vice president of strategic initiatives, said supporting tokenized securities represents a key step in the company's push to operate onchain market infrastructure for trading, settlement, custody and capital formation.
ICE did not specify a timeline for regulatory approval or launch of the platform.
