Digital Securities: The Exchange Revolution of the Next Decade

Digital tokenization enables illiquid assets to serve as collateral for securities, offering a powerful means of democratizing investments. Broad adoption seems inevitable, and today’s exchanges must prepare for tomorrow’s assets. The Era of the Digital Asset Economy could be tough for exchanges that are slow to adapt to new assets.

For most of the two-century history of the New York Stock Exchange, high-speed trading was, by definition, a local activity: Speed of exchange depended on the trader being physically present in the exchange building. By the time I began my career at NYSE 15 years ago, things were changing.

Computers made high-speed electronic trading a reality. New trading technology, … [Read More. Free Website Registration Required]