The New York Stock Exchange is developing a new blockchain-based platform designed to support round-the-clock trading and instant settlement for tokenised stocks and exchange-traded funds.
The initiative forms part of a wider effort by the exchange to modernise market infrastructure through onchain settlement and digital asset integration.
The project is being developed by the NYSE in collaboration with its parent company, Intercontinental Exchange, and remains subject to regulatory approval.
The proposed platform would combine the NYSE’s existing Pillar matching engine with blockchain-based post-trade systems for custody and settlement.
ICE confirmed the platform is being built with multi-chain support to allow flexibility across different blockchain networks.
If approved, the technology would underpin a new NYSE trading venue dedicated to tokenised securities issued in digital form.
The platform would allow trades to be funded and settled in real time using stablecoins instead of the current one-day settlement cycle used in US equity markets.
Tokenised stocks represent traditional company shares recorded on a blockchain ledger, offering fractional ownership and continuous market access.
The NYSE has previously signalled its intent to extend trading hours to meet rising global demand for US equities.
In October 2024, the exchange announced plans to file with the US Securities and Exchange Commission to extend weekday trading hours to 22 hours.
Rival exchange Nasdaq has also announced plans to introduce 24-hour weekday trading, highlighting growing competition around extended market access.
The tokenised securities platform is part of ICE’s broader digital strategy focused on clearing, custody, and continuous trading infrastructure.
ICE said the strategy includes potential integration of tokenised collateral to improve capital efficiency for market participants.
The company is working with major banks, including BNY and Citibank, to support tokenised deposits across its clearing houses.
These arrangements aim to help members manage liquidity outside traditional banking hours as markets move closer to continuous operation.
For more than two centuries, the NYSE has transformed the way markets operate,”
Lynn Martin said.
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.
he added.
ICE currently operates six clearing houses globally, including the world’s largest energy clearing house and a major credit default swap clearing house.
Michael Blaugrund described support for tokenised securities as a “pivotal step” in ICE’s long-term strategy.
This allows us to operate onchain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance.
Michael Blaugrund said.