NYSE Moves Towards 24/7 Tokenized Trading Platform
Written with artificial intelligence.
A joint venture between crypto exchange OKX and Intercontinental Exchange has submitted a proposal to the SEC to launch a tokenized securities platform, enabling round-the-clock trading of U.S. stocks. This initiative aligns with a broader trend towards continuous trading among major global exchanges.
Proposal for Tokenized Trading
The joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the operator of the New York Stock Exchange (NYSE), has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to create a platform for tokenized securities. This platform aims to facilitate the trading of U.S. stocks 24 hours a day, seven days a week.
The move towards asset tokenization coincides with efforts by major exchanges, including the NYSE and Nasdaq, to extend trading hours to operate continuously. The initiative from ICE and OKX, branded as OKXICE, envisions making over 60 publicly traded companies available for round-the-clock trading, as detailed in their SEC filing.
This proposal follows a recent SEC exemption allowing companies to offer tokenized stock trading using blockchain technology, which underpins cryptocurrencies. Andrew Cuomo, former Governor of New York and co-chair of OKXICE, described the filing as a historic step toward a truly global Wall Street operating 24/7.