NYSE’s owner is backing 24/7 stock tokens without Wall Street’s usual price rules

The company that owns the New York Stock Exchange wants people to be able to buy stocks 24/7. Given the trading volume crypto and other tokenized assets have seen in the past year or so, the decision to introduce stock tokens comes as no surprise.People want to trade all the time, and now institutions want a piece of that. What surprises people is that the new 24/7 exchange won't use NYSE prices to determine what stocks cost once the tradfi market closes.The price people pay for off-market trading will differ based on how much stock others have put up for sale in a DeFi-style trading pool, not a new bid on NYSE.The experiment isn't coming from some tiny crypto startup trying to get Wall Street's attention. OKXICE is owned by Intercontinental Exchange (ICE) and an affiliate of OKX.In its public notice, OKXICE said stock tokens will trade around the clock using technology behind Uniswap, with buyers dealing against pools of assets rather than the familiar lines of bids and offers.Sixteen companies had already objected to third-party tokenized versions of their stocks trading on OKXICE as of Oct.19, including Microsoft, Alphabet, and Goldman Sachs.Fifteen of them were on the exchange'...