Overview
- The platform pairs the NYSE’s Pillar matching engine with blockchain post‑trade systems and supports settlement across multiple chains.
- Trading would include dollar‑sized and fractional orders with stablecoin‑based funding for near‑instant on‑chain settlement.
- Tokenized shares are intended to be fungible with traditionally issued securities, preserving dividends and voting rights, and the venue would also host natively issued digital securities.
- Access is planned on a non‑discriminatory basis through qualified broker‑dealers, aligning the venue with established U.S. market‑structure principles.
- ICE is working with BNY Mellon and Citi on tokenized deposits to facilitate liquidity and margin movements outside banking hours, as competitors pursue extended or tokenized trading and the DTC advances a tokenization pilot.