# NYSE affiliate picks Avalanche to settle tokenized stock trades Author: Abdullah Özkurt Language: English Published: 2026-11-10T10:57:47+03:00 Updated: 2026-11-10T18:15:50+03:00 ![Green glass layers and a red Avalanche emblem beneath the stone columns of a model stock exchange.](https://kriptometa.com/uploads/nyse-istiraki-hisse-takasi-icin-avalanche-i-secti-c27456e44046_article.webp) ## Key takeaways - The planned venue would offer round-the-clock trading in US-listed equities and exchange-traded funds. - Avalanche will supply the clearing ledger; issuers could still offer shares on other blockchains. - Investors would reach the platform through participating broker-dealers. On the proposed venue, NYSE’s Pillar system will match buyers with sellers. The clearing firm will use an Avalanche-based ledger to complete the exchange of shares for payment. A New York Stock Exchange (NYSE) affiliate has chosen Avalanche technology for the clearing firm that will serve its proposed trading venue, [Ava Labs announced on November 9](https://www.prnewswire.com/news-releases/avalanche-to-serve-as-core-ledger-technology-for-clearing-and-settlement-of-nyse-affiliated-upcoming-tokenized-securities-platform-302932803.html). If regulators approve the alternative trading system, subscribers will be able to trade, clear and settle tokenized securities around the clock. The companies have not set an opening date. ## Who will match the orders? Under [the design NYSE outlined in January](https://ir.theice.com/press/news-details/2026/The-New-York-Stock-Exchange-Develops-Tokenized-Securities-Platform/default.aspx), Pillar will match buy and sell orders. After a match, the clearing firm will calculate the cash due from the buyer and the shares due from the seller. It will record the transfer on an Avalanche-based ledger. Under that design, the buyer receives the shares only if the seller receives payment. Dennis Lee, NYSE’s head of digital issuance, said the exchange wanted a fast, reliable ledger that would keep costs predictable and let the operator decide who can participate. Avalanche’s developer community also counted in its favor. Lee said the venue would support equities issued on multiple blockchains even though it will record settlement on Avalanche. Ava Labs founder Emin Gün Sirer said dedicated infrastructure could give the operator predictable performance and costs while connecting it to other pools of assets and liquidity. In its [account of the design](https://www.avalanche.com/about/blog/wall-streets-next-chapter-is-being-built-on-avalanche), Avalanche said institutions could set [network participation rules](https://kriptometa.com/en/glossary/avalanche-l1) and capacity to suit their operations. NYSE did not disclose a fee per trade or measured settlement times. [Avalanche’s November 9 announcement on the clearing firm’s ledger](https://x.com/avax/status/2119777384928850140) ## Which rights will shareholders keep? In a [November 2 update](https://www.nyse.com/research/insights/nyse-transfer-agent-partners), NYSE described two kinds of securities for the venue: tokens that third parties issue against shares held in custody, and digital securities sponsored by issuers themselves. NYSE intends both to be interchangeable with the corresponding traditionally issued shares. Investors who hold a [token representing a share](https://kriptometa.com/en/glossary/rwa-tokenization) would retain the same dividend and governance rights. Transfer agents, which keep the records of who owns the shares, are also preparing for the new venue. NYSE added Broadridge, Computershare, Equiniti and Superstate to its earlier agreements with Securitize and tZERO. NYSE says Broadridge, Computershare and Equiniti already serve close to 5,000 public companies. It has not said how many of their clients might list shares on the venue. NYSE plans to offer qualified broker-dealers access on equal terms. Individual investors would place orders through a participating broker. NYSE has yet to say which brokers or stocks will be available at launch, or where customers must live to qualify for an account. ## When could sellers use their money? NYSE parent Intercontinental Exchange (ICE) plans to support fractional trades in US-listed stocks and [exchange-traded funds](https://kriptometa.com/en/glossary/etf). Customers could enter a dollar amount instead of a whole number of shares and fund orders with a [stablecoin](https://kriptometa.com/en/glossary/stablecoin). At [0:56 in a November 9 Avalanche interview](https://www.youtube.com/watch?v=w6ol2Q67IVQ&t=56s), the NYSE’s Michael Blaugrund gave an example: once the trade settles, the seller could use the proceeds straight away to buy another stock. The interview did not specify how quickly the money would reach a seller’s bank account. ICE is also working with BNY and Citi on tokenized bank deposits so clearing members can move funds and meet margin calls outside banking hours. That work is separate from customer funding with stablecoins. ICE’s [separate stock project with OKX](https://kriptometa.com/en/okx-ice-tokenized-stocks-24-7-trading-plan) proposes liquidity pools on X Layer. The NYSE affiliate, by contrast, plans to match orders through Pillar.