NYSE targets weekend investors with new blockchain platform for 24/7 stock trading

Core Viewpoint - The New York Stock Exchange (NYSE) plans to launch a 24/7 blockchain-based trading platform for tokenized stocks and exchange-traded funds later this year, aiming to enhance trading efficiency and accessibility in the financial markets [1][5]. Group 1: Platform Features - The new platform will utilize private blockchain networks to facilitate real-time trading of tokenized securities, offering features such as instant settlement and orders sized in dollar amounts [2][4]. - Tokenized shareholders will retain traditional shareholder rights, including dividends and governance participation, while the platform will ensure non-discriminatory access for all qualified broker-dealers [4]. Group 2: Strategic Importance - Supporting tokenized securities is a crucial element of the Intercontinental Exchange Inc. (ICE)'s strategy to develop on-chain market infrastructure for trading, settlement, custody, and capital formation in the evolving financial landscape [3]. - The initiative is part of ICE's broader digital strategy, which includes enhancing its clearing infrastructure to support continuous trading and the potential use of tokenized collateral [5]. Group 3: Collaboration and Competition - ICE is collaborating with banks such as BNY and Citi to facilitate tokenized deposits across its clearinghouses, enabling members to manage funds outside traditional banking hours and meet margin obligations [6]. - Nasdaq, a key competitor of NYSE, has also announced plans for nearly round-the-clock trading for stocks and exchange-traded products, reflecting the global nature of financial markets and investor behavior [7].