NYSE files with SEC for major rule changes that would also impact cryptocurrencies

The New York Stock Exchange (NYSE) has filed a rule change with the SEC that would allow tokenized securities to be traded on the exchange.

The New York Stock Exchange aims to make tokenized versions of eligible stocks and ETFs available for trading under the Depository Trust Company’s (DTC) three-year tokenization pilot program, according to the filing.

The proposed regulations would require that tokenized securities have the same CUSIP number, the same ticker symbol, the same rights, and the same privileges as traditional securities. These assets trade on the same order book as traditional securities and are subject to the same rules regarding order priority.

However, the clearing and settlement process is not carried out on-chain, but through existing market infrastructure via DTC. Transactions are planned to be completed within the T+1 settlement cycle.

However, a large number of tokenized securities are already being traded in the crypto market, although not officially.

*This is not investment advice.