Svmuu News: The New York Stock Exchange (NYSE) has submitted a rule amendment proposal to the U.S. Securities and Exchange Commission (SEC), proposing to add new Rule 7.50 and revise related provisions to allow eligible securities to be traded on the exchange in tokenized form.
The proposal is being advanced based on the Depository Trust Company's (DTC) three-year tokenization pilot program and is formulated with reference to similar Nasdaq rules previously approved by the SEC. According to the proposal, tokenized securities must share the same CUSIP number, trading symbol, and shareholder rights as traditional securities to be traded with equal priority on the same order book. The initial scope of application is limited to Russell 1000 Index constituents and ETFs tracking major indices. The settlement cycle will remain T+1, and existing regulatory rules will simultaneously apply to tokenized securities.