NYSE plans 24/7 on-chain trading with Avalanche technology
by@avax
Summary
The New York Stock Exchange (NYSE) is set to implement 24/7 trading using its upcoming alternative trading system (ATS) platform, as noted by Michael Blaugrund from Intercontinental Exchange. This move aligns with the growing trend among traditional exchanges to explore blockchain technology for on-chain trading systems and reflects a broader interest in expanding market access beyond standard trading hours.
Analysis
NYSE: The New York Stock Exchange operates as a leading U.S. equity marketplace under Intercontinental Exchange. It is advancing an alternative trading system platform designed to support continuous on-chain trading. Executive Michael Blaugrund has highlighted active engagement with Avalanche as a key technology option in platform evaluations. Avalanche: Avalanche functions as a high-performance layer-1 blockchain network supporting decentralized applications and asset tokenization. It has been identified by NYSE representatives as meeting key criteria during platform assessments for on-chain trading infrastructure. Engagement between the Avalanche team and Intercontinental Exchange continues as part of this initiative. Michael Blaugrund: Michael Blaugrund serves as an executive at Intercontinental Exchange overseeing NYSE operations. He has publicly detailed the exchange's evaluation process for blockchain platforms to enable 24/7 trading. His comments emphasize Avalanche's alignment with technical and operational requirements for the in-development ATS. Continuous Trading: Plans for 24/7 operations reflect broader interest in extending market access beyond standard hours. Blockchain Integration: Traditional exchanges are actively assessing layer-1 networks for on-chain trading systems.
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