Last Monday the New York Stock Exchange and its parent the Intercontinental Exchange (ICE) announced plans for a new trading venue for tokenized securities. The three primary benefits touted were a 24/7 exchange, instant settlement using stablecoins and the ability to trade fractional shares in notional dollar amounts.
The stock exchange has already been in discussions with the SEC, and given it is planning a new venue it will have to publicly reveal its plans at some point. It raises several questions. Current regulations require intermediaries for settlement, usually the DTC or sometimes transfer agents. What’s the plan? The NYSE has chosen to launch a separate venue,…
