OKXICE plans 24/7 onchain trading of more than 60 US stocks, per OKX’s release

OKXICE, the joint venture between New York Stock Exchange owner Intercontinental Exchange and crypto exchange OKX, has notified the US Securities and Exchange Commission that it intends to run a Tokenized Securities Venue for round-the-clock onchain trading of tokenised US stocks. The notice was published on Sunday 4 October, and the company has not stated a launch date.

According to OKX's release, the venue will cover more than 60 US stocks, with Nvidia, SpaceX, Apple and Palantir cited as examples. Andrew Cuomo, OKXICE co-chair, called the plan "a landmark step toward a truly global, 24/7 Wall Street". ICE took a stake in OKX in March.

An exemption, not an approval

OKXICE is relying on an SEC exemptive order rather than a product approval. Release No. 34-106402, dated 17 September 2026 and published in the Federal Register on 22 September, grants a temporary, five-year conditional exemption from the definition of "exchange" to a class of such venues. Operators must notify the regulator at least 30 calendar days before beginning operations, a route OKXICE says it has used.

Volume caps apply per tier and are aggregated with affiliated venues. Tier 1 — S&P 500 and Russell 1000 constituents plus certain exchange-traded products — is limited to 75 symbols and 0.25% of the prior month's average daily volume per stock. Tier 2, covering all other national market system stocks, allows 250 symbols and 2.5% of prior-month ADV per stock. A first breach of a volume limit triggers no action, but each later breach pauses that stock for three months.

Leverage and borrowing are not permitted, and trading must halt when the underlying security is halted or suspended. The venue must be operated by a US person, use auditable public smart contracts on a permissionless blockchain, offer no primary issuance, publish USD transaction data within 10 minutes and keep books and records in the US. Issuers of third-party tokens must receive written notice and can block trading by objecting. Retail investors, institutions and broker-dealers may all take part.

The SEC cautioned that such a venue "could not comply with the requirements of Regulation NMS without significant modifications", and that prices derived from automated market maker pools could dislocate from the underlying share price. It listed self-custody, around-the-clock access, fractional ownership and near-instant settlement as benefits. The notice must state the venue is not SEC-registered for these activities and is not subject to Regulation NMS or fair-access requirements. With the 30-day notice window, no start is possible before early November.