The New York Stock Exchange (NYSE) is working on a new digital platform that would let people trade tokenized stocks and exchange-traded funds around the clock, seven days a week, the company revealed in a press release today, Jan. 19.
The largest stock exchange globally said in the release that the launch is only “one component” of its parent company Intercontinental Exchange’s “broader digital strategy.” Intercontinental Exchange is also working with major banks, including BNY Mellon and Citi, to support tokenized deposits across its global clearinghouses, according to the announcement.
Michael Blaugrund, vice president at Intercontinental Exchange, told Bloomberg in an interview today that the move reflects an “evolution of NYSE’s trading capabilities.” He added that NYSE could give retail investors more opportunities, allowing them to trade 24/7 and use funds immediately.
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