\n New blockchain-based venue promises 24\/7 equity trading, faster settlement and new liquidity dynamics.\n <\/p>\n
In a move that highlights how quickly capital markets infrastructure is evolving, the New York Stock Exchange<\/a> is developing a blockchain-based platform for trading tokenized securities, which could ultimately see the end of more than 100 years of opening and closing bells. \u00a0<\/p>\n If regulators approve the plan, US listed stocks and ETFs<\/a> could eventually trade around the clock with near-instant settlement, marking a fundamental departure from the traditional market structure financial advisors have long built portfolios around.<\/p>\n The exchange\u2019s owner, Intercontinental Exchange, plans to link the NYSE\u2019s existing Pillar matching engine with blockchain<\/a>-based post-trade systems. The result would be a venue capable of continuous trading, instant clearing and settlement, dollar-denominated order placement and funding through stablecoins. Tokenized securities on the platform would be interchangeable with conventional registered shares, and investors would retain rights to dividends and corporate governance.<\/p>\n But if US equities<\/a> become accessible 24\/7, will global liquidity patterns shift? Could volatility increase when markets are no longer gated by time zones? And how will portfolio oversight change if settlement occurs nearly instantly rather than on a multi-day cycle?<\/p>\n \u201cFor more than two centuries, the NYSE has transformed<\/a> the way markets operate\u201d says NYSE Group president Lynn Martin. \u201cWe are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust<\/a> with state-of-the-art technology. Harnessing our expertise to reinvent market infrastructure is how we\u2019ll meet and shape the demands of a digital future.\u201d<\/p>\n ICE is also retooling its clearing operations to support continuous trading and is working with major banks including BNY Mellon<\/a> and Citi to integrate tokenized deposits into clearinghouse activity. That collaboration hints at a broader ambition and creating an always-on funding and settlement ecosystem that functions beyond standard banking hours.<\/p>\n \u201cSupporting tokenized securities is a pivotal step in ICE\u2019s strategy to operate on-chain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance,\u201d says Michael Blaugrund, vice president of strategic initiatives at ICE.<\/p>\n