NYSE Develops Platform for Tokenized Securities Trading and Settlement

According to BlockBeats, on January 19, the New York Stock Exchange (NYSE), part of the Intercontinental Exchange Group, announced the development of a platform for tokenized securities trading and on-chain settlement, seeking regulatory approval for its implementation. The NYSE's new digital platform aims to offer a tokenized trading experience with features such as 24/7 operations, instant settlement, order placement in USD amounts, and stablecoin-based fund transfers. The design integrates the NYSE Pillar matching engine with a blockchain-based post-trade system, enabling multi-chain settlement and custody capabilities. Upon receiving regulatory approval, the platform will facilitate a new NYSE trading venue, supporting tokenized stock trading interchangeable with traditional issued securities, as well as native digital securities tokens. Tokenized shareholders will retain dividend and governance rights akin to traditional shareholders. The venue is designed to adhere to established market structure principles, providing non-discriminatory access to all qualified broker-dealers for distribution. The launch of the NYSE tokenized securities platform is part of the Intercontinental Exchange's broader digital strategy, which includes preparing its clearing infrastructure for round-the-clock trading and exploring the integration of tokenized collateral. The Intercontinental Exchange is collaborating with banks such as BNY Mellon and Citigroup to support tokenized deposits within its clearinghouse, aiding clearing members in transferring and managing funds outside traditional banking hours, fulfilling margin obligations, and accommodating financial needs across different jurisdictions and time zones.