NYSE President Lynn Martin on Tokenized Securities, IPO Surge, and US Capital Markets

NYSE's Tokenized Securities Platform

• 💡 The New York Stock Exchange is launching a tokenized securities platform, building on its 233-year tradition of market revolution.
• 🚀 This new infrastructure enables the tokenization of equity markets, offering benefits like 24/7 trading, immediate digital settlement, and blockchain integration.
• 🧩 The platform will support features such as fractional shares trading and notional trading, responding to customer demand.

Benefits of Tokenization and Settlement

• ⚡ Tokenization brings the positive aspects of a tokenized environment, including instantaneous settlement, which frees up capital and increases market liquidity.
• 📈 The shift from T+2 to T+1 settlement in US equity markets already demonstrated this, leading to a 40% increase in volumes on the NYSE.
• ✅ Tokenized shareholders will be able to participate in dividends, buybacks, and other shareholder benefits, with the ability to move tokenized shares from DTC to the NYSE platform.

IPO Outlook for 2026

• 📈 The NYSE anticipates a "super cycle year" for IPOs in 2026, with strong demand across all sectors.
• 🏦 This includes both mega IPOs and a backlog of companies from private equity sponsors looking for liquidity, as well as companies that had delayed their plans due to market volatility.

Competition and International Listings

• 🏛️ The NYSE is competing with new exchanges like the Texas Stock Exchange by offering dual listings, allowing companies to benefit from Texas's pro-business legislation regarding shareholder and litigation protection.
• 🌍 The US capital markets remain unmatched globally due to their breadth, depth, and liquidity, attracting international companies seeking a US listing.
• 📈 AstraZeneca's transfer to the NYSE is highlighted as an example, with a 25% increase in its share price post-announcement.

Chinese Companies on US Exchanges

• 🇨🇳 All companies listed on US markets, including Chinese firms like Alibaba, must adhere to the same PCAOB standards for accounting and reporting.
• 🔍 The NYSE emphasizes that it does not list the majority of very small-cap and micro-cap Chinese companies, as they do not meet its "gold standard" listing requirements.