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New York Stock Exchange to launch tokenized shares with 24-hour open trading
Source: PortaldoBitcoin Original Title: New York Stock Exchange to Launch 24/7 Open Trading of Tokenized Shares Original Link: https://portaldobitcoin.uol.com.br/bolsa-de-valores-de-nova-york-vai-lancar-acoes-tokenizadas-com-negociacao-aberta-24h/ The city that never sleeps may soon have a stock exchange operating 24 hours a day, driven by blockchain technology.
The New York Stock Exchange (NYSE), operated by Intercontinental Exchange (ICE), announced that it is developing a blockchain-based trading platform for tokenized securities — a platform that would enable instant settlement 24/7.
“For over two centuries, the NYSE has transformed how markets operate,” said Lynn Martin, President of NYSE Group, in a statement. “We are leading the industry toward fully on-chain solutions, backed by unparalleled protections and high regulatory standards that allow us to combine trust with cutting-edge technology.”
The platform would combine the exchange’s trading technology with blockchain post-trade systems and support settlement across multiple blockchains, although no specific network has been mentioned.
The new trading platform will support the trading of tokenized traditional securities as well as native tokenized securities, allowing investors to participate in dividends and corporate governance.
“Since its founding, ICE has driven markets from analog to digital,” said Michael Blaugrund, Vice President of Strategic Initiatives at ICE, in a statement. “Support for tokenized securities is a key 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.”
The company is working with leading banking institutions to assist in the tokenized deposit process, as well as in the transfer and management of funds in their clearinghouses outside traditional banking hours and across different time zones.
A timeline for the platform’s launch, which is subject to regulatory approval, has not been provided.
Tokenization has been one of the hottest topics related to blockchain over the past year, with leaders of major financial institutions calling it “the next big evolution in market infrastructure.” Last year, investment platforms launched tokenized shares for their European users, and other platforms plan to add support for trading tokenized shares soon.