Avalanche to be core ledger for clearing on NYSE-affiliated 24/7 tokenized securities platform
Ava Labs says Avalanche is the core ledger for the clearing firm; the Journal reported exclusive Avalanche settlement on the exchange's planned round-the-clock venue, pending approvals.
By Jennifer Walsh ·
Why it matters: If approved, trades in tokenized securities on the NYSE-affiliated venue are designed to clear and settle around the clock using Avalanche as the core clearing and settlement ledger.
For information only, not investment advice. Prices delayed.
Tickers: ICE
Ava Labs said Avalanche will provide the core ledger technology to the clearing firm behind an upcoming NYSE-affiliated digital ATS for tokenized securities.1 The Wall Street Journal reported that the New York Stock Exchange said it would settle tokenized stocks on its upcoming 24/7 trading platform exclusively using Avalanche.4
Subject to applicable regulatory approvals, the platform is designed to allow 24/7 trading, clearing and settlement for subscribers, Ava Labs said.1 Avalanche's blog said Avalanche was selected to support the platform's clearing infrastructure and that NYSE is part of Intercontinental Exchange ($ICE).2
On X, @avax said the platform's "core clearing and settlement layer will be built on top of Avalanche technology" and that Avalanche will support the clearing firm.3 ICE shares were at $172.27, down 0.99% as of Nov 6, 4:00 PM ET.
Sources
- Avalanche to Serve as Core Ledger Technology for Clearing and Settlement of NYSE-affiliated Upcoming Tokenized Securities Platform, PR Newswire / Ava Labs
- Wall Street's Next Chapter Is Being Built on Avalanche, Avalanche
- Avalanche on NYSE-affiliated clearing and settlement, X @avax
- Stock Market Trading Classes, WSJ Markets via open blurb
Tags: exchanges · regulation · fintech