The Reference
Price protection, built in. A reference price for each asset. Orders too far from it are rejected, not filled.
Simulated orders and prices, for illustration
A market that never closes can drift away from one that does. On True Markets, every order is checked against the underlying's price, so
what you pay is what it's worth.
Traditional markets have real prices but close at 4pm. AMM pools never close, but lose the price once the stock stops trading. True Markets keeps both.
| Feature | True Markets | Traditional markets | AMM pools |
|---|---|---|---|
| Trading | |||
| Trading hours | 24/7 | 32.5 hours a week, weekdays only | 24/7 |
| Price after hours | Checked against a reference price | No trading once the market closes | Drifts from what the stock is worth |
| Order types | Limit orders on an order book | Limit orders on an order book | Swaps against a pool, worse price as size grows |
| Liquidity | Professional market makers | Professional market makers | Whatever is in the pool |
| Infrastructure | |||
| Custody | Your own wallet | Held by your broker | Your own wallet |
| Settlement | On-chain | T+1, through intermediaries | On-chain |
| Proof of execution | A best execution report on every order | Best-execution rules | None |
| Feature | True Markets | Traditional markets |
|---|---|---|
| Trading | ||
| Trading hours | 24/7 | 32.5 hours a week, weekdays only |
| Price after hours | Checked against a reference price | No trading once the market closes |
| Order types | Limit orders on an order book | Limit orders on an order book |
| Liquidity | Professional market makers | Professional market makers |
| Infrastructure | ||
| Custody | Your own wallet | Held by your broker |
| Settlement | On-chain | T+1, through intermediaries |
| Proof of execution | A best execution report on every order | Best-execution rules |
A token on a blockchain that tracks the price of a real stock, such as Nvidia or Tesla. It trades 24/7 and settles on-chain.
Trading a tokenized stock at the price of the real stock, with proof. True Markets does it with a reference price, an order book of professional market makers, and a best execution report on every order.
Yes, 24/7. Subject to venue liquidity.
It is rejected rather than filled. That is price protection.
Where the asset was trading across venues at the time of your order, where you filled, and your slippage, positive or negative.
No. When you submit an order, True Markets places a hold on your own wallet balance and settles on-chain after the match, typically within five seconds.
NVDAc/USDC is live now. Tokenized Tesla (TSLAc) follows in October, with more assets added as liquidity supports them.
Integrate tokenized stocks with price protection, a real book and a best execution report on every order.