NYSE Moves Forward with 24/7 US Equities Trading

NYSE is seeking regulatory approvals for its trading and on-chain tokenized securities settlement platform. If approved, the launch is set to enable “tokenized trading experiences”, including 24/7 trading of US listed equities and ETFs, instant settlement, orders sized in dollar amounts, and stablecoin-based funding according to a story in The Trade news. 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. The venue design offers non-discriminatory access to all qualified broker-dealers. 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.