The New York Stock Exchange (NYSE) is bullish on building out a new venue for 24/7, instantly-settled trading of stocks and ETFs in tokenized form, reports Bloomberg. The move is intended to modernize stock trading, and evolves from the current arguably outdated model of trading during roughly half the day, on weekdays and non-holidays only.
According to Michael Blaugrund of Intercontinental Exchange Inc (ICE), who owns the NYSE, the development illustrates the evolution "from trading floor, to electronic order-book, to blockchain." The modernized platform, set to arrive "later this year," reportedly leverages NYSE's Pillar buyer-seller matching engine and integrates it with a blockchain-based system.
