Regulation · Permission · United States · Regulator rule or rulebook
SEC order approving Nasdaq trading of securities in tokenised form (SR-NASDAQ-2025-072)
SEC approval (Release 34-105047) of a Nasdaq rule change letting members trade eligible DTC securities, initially Russell 1000 stocks and ETFs on major indices, in tokenised form on the same order book, ticker and priority as ordinary shares. Clearing stays at NSCC/DTC on T+1 and DTC tokenises after settlement. The rule only takes effect once DTC's infrastructure is in place, with at least 30 days' notice to members.
In force · effective 18 Mar 2026 · part of SEC framework for tokenised securities and crypto assets (federal securities laws, staff statements and exemptive relief)
Held by
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| Nasdaq trading of securities in tokenised form Nasdaq | Announced | Reviewed 1d ago |
Sources
- [1]Order Approving a Proposed Rule Change, as Modified by Amendment No. 2, to Amend the Exchange's Rules to Enable the Trading of Securities on the Exchange in Tokenized Form — US Securities and Exchange Commission, 18 Mar 2026. Accessed 11 Oct 2026.A
- [2]SEC approves Nasdaq tokenized trading — Ledger Insights, 19 Mar 2026. Accessed 11 Oct 2026.C