The NYSE has submitted a proposal to amend its rules to allow tokenized securities to be listed and traded.

The New York Stock Exchange (NYSE) has submitted a rule amendment proposal to the U.S. Securities and Exchange Commission (SEC), proposing a new Rule 7.50 and revising related provisions to allow eligible securities to be traded on the exchange in tokenized form. This proposal builds upon the Depository Trust Company (DTC) three-year tokenization pilot program and is modeled after similar rules previously approved by the SEC for Nasdaq. 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 in the same order book. Initially, the application will be limited to Russell 1000 index constituents and ETFs tracking major indices, with the settlement cycle remaining T+1. Existing regulatory rules will also apply to tokenized securities.