Overview
- The proposed venue would offer round-the-clock trading with near-instant on-chain settlement for U.S.-listed equities and ETFs, including dollar-denominated and fractional orders.
- Technical design marries the NYSE’s Pillar matching engine with blockchain-based post-trade systems and supports settlement across multiple chains.
- Tokenized shares are planned to be fully fungible with traditionally issued securities, preserving dividends and voting rights for investors.
- ICE is working with BNY Mellon and Citigroup on tokenized deposits to move cash and meet margin needs outside banking hours, with stablecoin funding available for transactions.
- No launch date was provided, and the platform requires SEC approval as industry rivals advance extended-hours and tokenization pilots such as Nasdaq proposals and DTC’s program.