New York Stock Exchange applies to allow tokenized securities trading

According to the official website of the SEC, the New York Stock Exchange submitted a rule revision application on April 9th, proposing to add Rule 7.50, which allows member institutions to trade tokenized securities within the framework of the DTC III tokenization pilot. The trading scope is limited to constituent stocks of the Russell 1000 Index and ETFs tracking major indices. tokenized securities must share CUSIP codes and trading codes with traditional securities, and grant holders the same rights. Regulatory rules will apply equally, and settlement will maintain the T+1 standard. This rule is consistent with a similar revision approved by Nasdaq on March 18th.