New York Stock Exchange: Exploring "superimposing" blockchain technology into existing market infrastructure

On March 27, Jon Herrick, head of products at the New York Stock Exchange (NYSE), said that it is currently exploring "superimposing" blockchain technology into existing market infrastructure rather than replacing traditional systems. The core goal is to achieve interoperability and retain existing regulatory, clearing and investor protection mechanisms. Herrick pointed out that the future development path is not a "choice" between traditional finance and blockchain, but a gradual integration. He emphasized that while promoting the application of tokenized assets, it is necessary to take into account the mature advantages of the current market system. Currently, NYSE is studying application scenarios including near-real-time settlement and extended trading hours. Its parent company, Intercontinental Exchange (ICE), has also deployed the crypto field and recently invested in OKX. It plans to introduce crypto price data in derivatives while promoting token assets related business. However, Herrick also said that the existing centralized clearing system still has advantages in reducing transaction risks and is difficult to be completely replaced in the short term. In the long run, the boundary between traditional assets and tokenized assets may gradually blur. Overall, the NYSE prefers the gradual introduction of blockchain technology rather than radical restructuring of the financial system.