Between exchanges and crypto platforms, they are currently negotiating something very specific: enabling stocks to be traded even after the market closes.
A crypto trading platform has signed an agreement with the New York Stock Exchange to explore onboarding U.S.-listed stocks and funds in the form of tokens. The collaboration covers product development and the sharing of market data. The long-term goal is to provide these tokenized securities to the platform’s users. Both parties describe it as “exploration,” not a commitment.
The real selling point is in the timing. In traditional markets, trading has fixed opening and closing times. After tokenization, holdings and transfers are no longer constrained by trading hours, which is attractive to investors across time zones and to institutions that need to adjust exposure immediately. Therefore, managing holdings during non-trading hours becomes the selling point.
The challenge still lies at the institutional level. The custody of tokenized securities, shareholder rights, handling dividends, and information disclosure all require mapping between two sets of rules. If any part is handled incorrectly, what users get is only a price certificate.
For the industry, the significance of this kind of cooperation lies in the path. Start with market data and product development, then discuss settlement and rights. This is generally easier to get approved than directly committing to an end-to-end on-chain setup, and it’s also easier to roll back to the original state if problems arise. Designing the path is more important than making commitments—and it is easier to verify.
Trading hours are easy to change; aligning rights is hard.
#代币化股票 #Trading session
A crypto trading platform has signed an agreement with the New York Stock Exchange to explore onboarding U.S.-listed stocks and funds in the form of tokens. The collaboration covers product development and the sharing of market data. The long-term goal is to provide these tokenized securities to the platform’s users. Both parties describe it as “exploration,” not a commitment.
The real selling point is in the timing. In traditional markets, trading has fixed opening and closing times. After tokenization, holdings and transfers are no longer constrained by trading hours, which is attractive to investors across time zones and to institutions that need to adjust exposure immediately. Therefore, managing holdings during non-trading hours becomes the selling point.
The challenge still lies at the institutional level. The custody of tokenized securities, shareholder rights, handling dividends, and information disclosure all require mapping between two sets of rules. If any part is handled incorrectly, what users get is only a price certificate.
For the industry, the significance of this kind of cooperation lies in the path. Start with market data and product development, then discuss settlement and rights. This is generally easier to get approved than directly committing to an end-to-end on-chain setup, and it’s also easier to roll back to the original state if problems arise. Designing the path is more important than making commitments—and it is easier to verify.
Trading hours are easy to change; aligning rights is hard.
#代币化股票 #Trading session
