NYSE picks Broadridge for tokenized stock voting services

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NYSE taps Broadridge for tokenized voting

Highlights

Broadridge will deliver onchain governance and digital transfer agency services for NYSE’s upcoming tokenized stock trading venue, integrating digital and traditional shareholder services.
Broadridge processes over $360 billion in daily transactions and settles more than $15 trillion in securities trades each day, expanding blockchain operations via its DLX and Repo network platforms.
NYSE, Nasdaq, and DTCC are intensifying blockchain-based stock market infrastructure competition, with new tokenization platforms targeting custody, transfers, and trading across equities and U.S. Treasuries.

Onchain governance plan for tokenized equities

As reported by CoinDesk, Broadridge will provide onchain governance and digital transfer agency services for the NYSE's planned tokenized stock venue, according to an announcement on Monday. The arrangement links tokenized trading with shareholder services that public companies already use, including record management, communications and voting.

The exchange is working to bring stock trading onto blockchain networks, a shift that could allow shares to trade around the clock. For that model to work, issuers still need systems to track ownership, distribute dividends and let investors vote on corporate matters.

Broadridge Chief Executive Tim Gokey says the company is building the governance layer for tokenized equities and combining digital and traditional transfer agency services with proxy voting in a single offering. Investors are expected to be able to vote through supported digital wallets, brokerage platforms or Broadridge's ProxyVote service.

Transfer agents are central to the model because they maintain shareholder records and track changes in ownership as securities change hands. Previous announcements also identified Securitize and tZERO as transfer agency providers for the NYSE platform.

Competition grows across U.S. market infrastructure

Broadridge is expanding its blockchain business through its DLX tokenization platform and Distributed Ledger Repo network, which the company says processes more than $360 billion in transactions daily. The group's broader role in market infrastructure is already significant, serving more than 10,000 public companies globally and settling over $15 trillion in securities trades each day.

The NYSE is one of several major institutions developing blockchain-based stock market infrastructure. Nasdaq is also building tokenized securities capabilities, including a partnership with Kraken's parent company to distribute blockchain-based shares globally, while both exchanges are exploring how tokenization can enter mainstream equity markets without removing existing investor protections.

The Depository Trust & Clearing Corporation introduced its own tokenization platform last week, allowing eligible firms to convert stocks, ETFs and U.S. Treasuries held at its depository into blockchain-based tokens on Canton Network and its private Besu blockchain. Unlike exchange-led efforts, that service is focused on custody and transfers rather than trading, while the SEC's innovation exemption is opening a separate route for selected blockchain venues to trade tokenized stocks through automated market makers.

In our earlier article on the launch of JQQQ, we covered how Janus Henderson and Centrifuge introduced a blockchain-native fund designed to provide digital access to the Nasdaq-100 Index. We also highlighted the mixed technical backdrop for NDX at the time, noting near-term selling pressure and key levels to watch while positioning the product as a longer-term step toward broader institutional adoption of blockchain-based equity exposure.

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