S&P goes 24/7; Nasdaq cleared tokenization
S&P Dow Jones has licensed an official 24/7 on‑chain perpetual futures product—traded via Hyperliquid—letting market participants take round‑the‑clock leveraged exposure to the index. At the same time the SEC approved Nasdaq’s plan to allow select U.S. stocks and ETFs to trade and settle as tokenized securities through the DTC, paving the way for tokenized equity markets. (coindesk.com; coindesk.com)
S&P Dow Jones Indices gave Trade[XYZ] the license on March 18, 2026 to launch what S&P DJI calls the first officially licensed S&P 500 perpetual derivative on the Hyperliquid chain. (PRNewswire.com ) S&P DJI said the on‑chain perpetual is supported directly by institutional‑quality S&P DJI index data and is targeted to “eligible, non‑U.S. investors” seeking 24/7 leveraged exposure. (PRNewswire.com ) S&P DJI’s release quantified the benchmark’s linked liquidity, noting over $1 trillion traded daily across exchange‑traded futures, options, ETFs and structured products—framing the perpetual as an on‑chain extension of that ecosystem. (PRNewswire.com ) Coverage of the product and Hyperliquid describes a decentralized, high‑performance trading chain with on‑chain order‑book perpetual mechanics and continuous settlement that enables round‑the‑clock perp trading and leverage. (Atomicwallet.io ) The SEC issued an approval order (Release No. 34‑105047, SR‑NASDAQ‑2025‑072) on March 18, 2026 authorizing Nasdaq to amend its rules to permit trading of securities “in tokenized form” during a DTC‑operated tokenization pilot tied to a December 11, 2025 no‑action letter. (SEC.gov ) Public summaries of the Nasdaq filing say initial DTC‑eligible instruments for the pilot include constituents of the Russell 1000 and major index ETFs such as S&P 500 and Nasdaq‑100 trackers. (Blockonomi.com ) Nasdaq and market write‑ups state tokenized representations will be fungible with legacy shares—sharing the same CUSIP and ticker—and will clear and settle through DTC rails on the same Nasdaq order book using a tokenization flag to preserve order‑book priority. (CoinCentral.com )
