OKX and NYSE parent ICE notify SEC of 24/7 tokenized US stock venue

• OKXICE, the 50-50 venture of OKX and NYSE parent Intercontinental Exchange, notified the SEC on Oct. 4 that it intends to launch a tokenized securities venue under the innovation exemption.
• The venue would trade more than 60 tokenized U.S. stocks 24 hours a day, seven days a week, through permissioned Uniswap v4 pools on X Layer paired with USDC, USDG or USDT.
• Cerebras Systems has already filed a notice of issuer objection, and issuers have 30 days to opt out before trading in their shares can begin.

OKXICE, the joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange, has notified the Securities and Exchange Commission that it intends to launch a tokenized securities venue for around-the-clock trading of U.S. stocks, according to a public notice dated Oct. 4.

OKXICE LLC, a Texas company, is 50% owned by Intercontinental Exchange Holdings and 50% owned by OKC USA Holding, the notice says. The venue would not operate an order book, hold participant assets or run primary offerings. Trading would instead run through permissioned automated market-maker pools.

Those pools are Uniswap v4 liquidity pools on X Layer, with an OKXICE hook that limits access to wallets holding a valid soulbound token. Each tokenized stock would be paired with USDC, USDG or USDT, and the venue would operate 24 hours a day, seven days a week, the notice states. Prices inside the contracts would be set by the pool ratio, not by an on-chain oracle.

The initial list covers more than 60 U.S.-listed companies, including Nvidia, Apple, Microsoft, Amazon, Tesla, Coinbase, Robinhood, Strategy and Space Exploration Technologies, the filing shows. Reuters reported that the Sunday notice is meant to open around-the-clock trading in those names. A third-party tokenizer, acting through an SEC-registered broker-dealer and FINRA member, would hold the underlying shares one-for-one against tokens outstanding.

The move uses the SEC’s temporary exemption from the Exchange Act definition of an exchange for certain tokenized National Market System venues, published in the Federal Register on Sept. 22. The exemption followed the Senate’s failure to advance broader crypto market-structure legislation, Reuters noted. Under the framework, issuers have 30 days to opt out before trading can begin, The Block reported.

That window is already in use. As of the notice date, OKXICE had received a Notice of Issuer Objection from Cerebras Systems (CBRS), the disclosure says. The venue also warns that it is not registered with the SEC for these activities, is not subject to Regulation NMS, and is not covered by the fair-access review that applies to national exchanges and some alternative trading systems.

OKXICE co-chair and former New York Governor Andrew Cuomo called the notice “a landmark step toward a truly global, 24/7 Wall Street” in a post on X, adding that tokenized securities are “part of what comes next.” The notice itself is more cautious: an X Layer outage, sequencer failure or change in protocol could delay or prevent trading, and the venue depends on infrastructure it does not control.

For traders, the filing is a concrete test of whether tokenized U.S. equities can move from offshore synthetics onto a permissioned U.S. venue tied to the NYSE’s parent. It is not a launch date. Trading still depends on the exemption conditions, tokenizer onboarding and how many issuers remain after the opt-out period, as set out in the Oct. 4 notice.