NYSE Files Rule Change to Enable Tokenized Securities Trading Under SEC Pilot

NYSE Seeks Approval for Tokenized Stocks and ETFs

The New York Stock Exchange has filed a proposed rule change with the Securities and Exchange Commission to enable trading of tokenized securities. The plan would allow digital versions of eligible equities and exchange-traded funds to be listed and traded under a structured pilot program led by the Depository Trust & Clearing Corporation.

Tokenized Assets to Mirror Traditional Securities

Under the proposal, tokenized securities must carry identical identifiers and features as their traditional counterparts, including the same CUSIP, ticker symbol, ownership rights and investor privileges. These assets would not function as separate instruments but as blockchain-based representations of existing securities.

Trading Structure and Settlement Process

The exchange intends to integrate tokenized assets directly into its current trading system, meaning they will share the same order book and execution priority as standard securities. Despite the digital format, clearing and settlement will continue through established infrastructure, with transactions finalized on a T+1 basis.