[TD Securities: Nasdaq's Tokenization Plan May Lead to a Split into Two Markets] According to a report by Cointelegraph, TD Securities has warned that Nasdaq's tokenization plan could result in a dual market structure in the U.S., where traditional exchanges and blockchain trading platforms operate in parallel. Reid Noch, Vice President of U.S. Equity Market Structure at TD Securities, pointed out that Nasdaq is advancing three initiatives: upgrading the trade settlement process, supporting companies in issuing tokenized stocks, and facilitating trading on offshore platforms like Kraken. The institution believes that while tokenized stocks are backed by real stocks, they operate outside the U.S. regulatory framework. This could lead to price discrepancies for the same asset across different platforms, a potential outflow of trading activity from traditional exchanges, and reduced market predictability.