Jon Herrick, Chief Product Officer at the New York Stock Exchange, recently outlined a major initiative that signals a meaningful shift in how digital trading and settlement could function in regulated markets. The announcement reflects the next phase of modernization for the NYSE, an institution that has anchored global finance since 1792. Herrick’s remarks focused on how the exchange is adapting to new technologies while preserving the regulatory rigor that underpins investor and issuer confidence.
At the center of the announcement is the NYSE’s plan to bring trading and settlement together within a single, integrated platform. Herrick explained that the move goes beyond a routine technology refresh. Instead, it represents a fundamental upgrade to the underlying market infrastructure, often described as the plumbing of the financial system. By unifying these processes, the exchange aims to create an environment where regulated market participants can build and deploy more advanced digital solutions tailored to the needs of modern investors.
Investor expectations have changed rapidly, particularly among retail participants. Herrick noted that demand for continuous access to markets is growing, influenced in part by experiences in digital assets and decentralized finance. Many investors now expect markets to operate closer to real time. The NYSE’s approach is designed to address that shift by enabling capabilities such as faster settlement cycles and fractional share trading, features that align more closely with how investors interact with financial products today.
Regulation remains a core consideration as these changes take shape. Herrick stressed that trust is the foundation of functioning capital markets and that innovation must be paired with strong oversight. The NYSE is actively engaging with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, to ensure that new digital frameworks meet existing standards while strengthening market protections. That collaboration is intended to preserve transparency, fairness, and resilience as technology evolves.
Herrick also pointed to the growing role of blockchain and artificial intelligence in shaping the future of finance. These technologies have the potential to improve efficiency, reduce friction, and support new forms of capital formation. As interest in sustainability and impact investing continues to rise, more efficient digital infrastructure could help mobilize capital toward long-term projects aligned with the Sustainable Development Goals.
Taken together, Herrick’s comments underscore a broader strategy at the NYSE to remain at the forefront of global markets. By integrating trading and settlement into a unified digital platform, the exchange is responding to shifting investor behavior while maintaining its commitment to regulatory discipline. The convergence of finance and technology is accelerating, and the NYSE’s latest move highlights how traditional institutions are positioning themselves for a future shaped by innovation, speed, and trust.