SEC Approves NYSE Rule Change for Stock and ETF Token Trading Pilot

The U.S. Securities and Exchange Commission (SEC) has approved a rule change by the New York Stock Exchange (NYSE) to initiate a three-year pilot program allowing DTCC-qualified institutions to trade stock and ETF tokens. According to NS3.AI, this pilot will include components of the Russell 1000 index and ETFs that track major indices. The tokens will maintain the same tickers as their underlying securities and will offer identical shareholder rights, dividends, trading priority, and fees. Previously, the Depository Trust & Clearing Corporation (DTCC) indicated that trading would commence in July, with an expanded platform expected to launch in October.