On September 17, the SEC authorized the tokenization of US stocks on licensed platforms for five years, while announcing a roadmap for round-the-clock trading 23 hours a day, 5 days a week, with a target date of December 6, 2026 for SIP infrastructure implementation. Nasdaq plans a night session from 9 PM to 4 AM New York time, while central depository DTCC already switched its clearing chain to continuous operations in June. SEC Chairman Paul Atkins explicitly linked these two initiatives, highlighting tokenization’s potential to reduce settlement failures and naked short-selling risks in an extended-hours market. Both projects remain subject to further regulatory approvals.
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