Summary
- The New York Stock Exchange has submitted a proposed rule change to the SEC to allow trading in tokenized securities.
- Tokenized securities would retain the same CUSIP, ticker, rights and investor benefit structure as traditional securities and trade in the same order book.
- Clearing and settlement would proceed on a T+1 basis through the DTC system, and the move is seen as an expansion of the tokenization trend into regulated trading infrastructure.
Forecast Trend Report by Period
The New York Stock Exchange has filed a proposed rule change with the U.S. Securities and Exchange Commission to allow trading in tokenized securities.
Wu Blockchain reported on May 3 that the NYSE submitted the proposal in line with the Depository Trust & Clearing Corporation's three-year tokenization pilot program. The proposal would support trading in tokenized versions of stocks and exchange-traded funds.
Eligible tokenized securities must carry the same CUSIP, ticker, rights and investor benefit structure as their traditional counterparts. They would also trade in the same order book under the same priority rules as existing shares.
Clearing and settlement would continue through the DTC system on a T+1 basis. That means settlement and fund delivery would be completed one day after a trade is executed.
The market views the move as an expansion of asset tokenization into regulated trading infrastructure in traditional finance.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
