Intercontinental Exchange Inc (NYSE:ICE), the parent company of the New York Stock Exchange (NYSE), has developed a platform for trading and on-chain settlement of tokenized securities and will seek regulatory approval to launch it.
The platform is designed to support 24/7 trading of US-listed equities and ETFs, with instant settlement, dollar-sized orders, fractional shares, and stablecoin-based funding.
It combines the NYSE’s Pillar matching engine with blockchain-based post-trade systems and can support multiple settlement chains.
If approved, the platform would power a new NYSE venue for tokenized shares that are fungible with traditional securities, including the same dividend and governance rights. The venue would offer non-discriminatory access to qualified broker-dealers.
The initiative is part of ICE’s broader digital strategy, which includes upgrading clearing infrastructure for round-the-clock trading and exploring tokenized collateral.
ICE is working with banks such as BNY and Citi to support tokenized deposits across its clearinghouses to help members manage funds and margin requirements outside standard banking hours.
“For more than two centuries, the NYSE has transformed the way markets operate,” NYSE Group president Lynn Martin said in a statement. “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. Harnessing our expertise to reinvent market infrastructure is how we’ll meet and shape the demands of a digital future.”
Michael Blaugrund, ICE’s vice president of strategic initiatives, added: “Supporting tokenized securities is a pivotal step in ICE's strategy to operate on-chain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance.”