New York Stock Exchange targets 24/7 trading as it builds tokenized-securities platform

The project aims to let investors buy and sell blockchain-represented versions of traditional financial instruments with uninterrupted availability, marking a major incumbent’s push to modernize market plumbing with tokenization while keeping assets inside a regulated exchange perimeter. Specific launch timing and product scope were not disclosed.

The plan surfaces as large market operators move to bring pieces of the capital-markets stack on-chain. In September, Nasdaq filed a proposal with the U.S. Securities and Exchange Commission to permit trading of tokenized securities on its main market – framing the assets as digital representations that must preserve existing shareholder rights and investor protections. Securitize, a registered broker-dealer and ATS, has also targeted early-2026 for fully on-chain trading of real public stocks, signaling growing institutional readiness for tokenized equity rails.

Around-the-clock trading would align tokenized listings with the 24/7 profile of crypto markets while posing operational questions for surveillance, market-data dissemination and T+1 settlement workflows. Nasdaq’s filing suggests U.S. exchanges expect tokenized instruments to remain within the umbrella of existing securities laws and clearing frameworks (e.g., via the Depository Trust Company) even as settlement gradually migrates to blockchain-based records.

Industry observers note that if the NYSE initiative proceeds, coordination with clearing and custody partners will be critical to avoid fragmentation between “traditional” and tokenized lines. Recent proposals emphasize functional equivalence – same rights, same protections – so that the tokenized form doesn’t create a separate class unless rights diverge.

While details on the NYSE build remain limited, the direction mirrors a broader tokenization push by blue-chip market venues that see potential efficiency gains in corporate-action processing, instant settlement windows, and programmability (e.g., for transfer restrictions or entitlements). The question for regulators will be how to square continuous trading with existing controls designed for defined market sessions.

U.S. exchanges and intermediaries have framed tokenization as an infrastructure upgrade rather than an attempt to bypass rules, with early deployments expected to keep compliance, surveillance, and investor-protection standards intact while gradually shifting record-keeping on-chain.