Strategy Chief Executive Officer Phong Le said markets could shift permanently toward faster, modern and continuously open trading after investors experience a U.S. Securities and Exchange Commission (SEC) pilot for tokenized securities. The SEC announcement allows tokenized securities to be tested in automated market makers (AMMs), software that prices and matches trades through liquidity pools. In a Sept. 18 report, PANews said Phong Le argued that the model being tested over the next five years could become a lasting market norm, making a return to traditional fixed trading hours and structures shaped by particular regulators difficult.