Overview
- The proposed platform pairs the NYSE Pillar matching engine with blockchain post-trade systems to support near-instant settlement, dollar‑denominated and fractional orders, and stablecoin funding.
- Tokenized shares would be fungible with traditionally issued securities, preserving dividends and voting rights for investors.
- ICE is coordinating with BNY Mellon and Citi to enable tokenized deposits across its clearinghouses so members can move funds and meet margin needs outside standard banking windows.
- Access would be provided on a non‑discriminatory basis through qualified broker‑dealers, with multi‑chain settlement support and the ability to handle natively issued digital securities.
- No launch timeline was disclosed, and the approval process will unfold alongside industry moves such as DTC’s tokenization pilot and Nasdaq’s extended‑hours proposals.