According to the SEC website, the New York Stock Exchange submitted a rule change application on April 9 to add Rule 7.50, permitting member firms to trade tokenized securities within the DTC’s three-year tokenization pilot framework. Trading will be limited to Russell 1000 Index components and ETFs tracking major indices. Tokenized securities must share the same CUSIP code and trading symbol as their traditional counterparts and confer identical rights to holders. Regulatory rules will apply equally, and settlement will remain on a T+1 basis. This rule aligns with a similar amendment approved by Nasdaq on March 18.
NYSE Files Rule Change to Enable Trading of Tokenized Securities
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Summary
The New York Stock Exchange filed a rule change on April 9 to implement Rule 7.50, enabling trading of tokenized securities under the DTC’s three-year pilot. The rule applies to components of the Russell 1000 and major index ETFs. Tokenized assets must correspond to traditional securities in CUSIP, symbol, and rights. Settlement remains T+1, and all cryptocurrency rules apply equally. Nasdaq approved a similar rule on March 18. No security breach risks were reported.
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