Nasdaq receives regulatory approval from the SEC to pilot tokenized stock trading alongside traditional securities, with a focus on high-volume stocks and participation limited to eligible participants. The pilot will involve the Depository Trust Company and aim to offer tokenized versions of stocks with the same trading conditions as their traditional counterparts.
Nasdaq has been given the regulatory green light to offer some tokenized stocks , which will trade alongside traditional securities on its exchange.The US Securities and Exchange Commission on Wednesday approved Nasdaq ’s pilot proposal to support the trading of tokenized versions of stocks and other securities.
seeking to allow trades on high-volume stocks in either a traditional or tokenized form on the same exchange in a pilot with the key market infrastructure firm, Depository Trust Company. The tokenized stocks would trade alongside their traditional counterparts on the same order book, at the same price, with the same ticker and identifying number and carry the same rights., where an asset is represented on a blockchain, has seen a recent boom as major financial firms have tested the technology to shrink settlement times and experiment with longer trading hours.filing, only"eligible participants” are to take part in the tokenization pilot and can choose whether to trade a traditional or tokenized stock. The options for tokenized stock are limited to securities that trade in the Russell 1000 Index, which tracks the 1,000 largest publicly-traded companies in the US by market capitalization, along with exchange-traded funds tracking the S&P 500 and Nasdaq-100 indices.The SEC noted Nasdaq’s proposal received feedback raising concerns around market surveillance and diverging prices, which it said was later allayed by an amendment laying out more details.crypto exchange Kraken to allow its clients to move securities from its infrastructure to tokenized versions that can be used on blockchains and to allow public companies to create and issue their own tokenized shares., including a “fundraising exemption” to allow some securities involving crypto to raise a set amount in any 12-month period while being exempted from registering under securities laws.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
Nasdaq Tokenized Stocks SEC Approval Pilot Program Blockchain
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