The New York Stock Exchange is developing a modern platform for trading tokenized stocks and ETFs, part of a broader effort to modernize market infrastructure using blockchain-based settlements.
On Monday, the NYSE and its parent company, Intercontinental Exchange (ICE), announced development of a modern 24/7 trading and instant settlement platform combining the company’s Pillar matching engine with blockchain-based post-trade systems, including multi-chain escrow and settlement support.
Once approved by regulatory authorities, the platform is expected to form the basis of a modern trading system on the NYSE for tokenized securities, including stocks and ETFs issued in digital form.
Under the proposal, trades could be financed and settled in real time using stablecoins, rather than the one-day settlement cycle currently used in US stock markets.
Tokenized shares are shares of classic companies minted on a blockchain ledger, offering investors exposure to share prices with benefits such as 24/7 availability and fractional ownership.
The NYSE has wanted extending trading hours to 22 hours on weekdays to meet global demand for US stocks. In October 2024, it announced plans to file with the U.S. Securities and Exchange Commission (SEC) for a trading extension.
The tech-focused Nasdaq exchange also announced plans to include 24-hour trading on weekdays, Cointelegraph reported in March 2025.
The NYSE is seeking “fully onchain” solutions for clearing and trading infrastructure
The tokenized securities platform is part of ICE’s broader digital strategy, which includes building settlement infrastructure and support for 24/7 trading, and “potential integration” of tokenized collateral.
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ICE is working with banks including BNY and Citibank to support tokenized deposits at their clearinghouses to support members manage their money outside of classic bank hours.
For more than two centuries, the NYSE has changed the way markets work,” said Lynn Martin, president of the NYSE Group.
“We are leading the industry towards fully on-chain solutions, based on unmatched security and high regulatory standards that allow us to combine trust with cutting-edge technology.”
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ICE operates six clearinghouses around the world, including the world’s largest energy clearinghouse and a credit default swaps clearinghouse.
The company’s vice president of strategic initiatives, Michael Blaugrund, called supporting tokenized securities a “key step” in the company’s strategy to run “onchain market infrastructure for trading, settlement, custody and capital raising in the new era of global finance.”
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