BlockBeats News, March 19th, the U.S. Securities and Exchange Commission officially approved a Nasdaq rule modification, allowing the exchange to pilot “tokenized form” trading of securities, marking a key step for the traditional capital market towards blockchain.
According to the plan, eligible stocks and ETFs can undergo clearing and settlement in tokenized form within the existing trading system and share the same order book, trading priority, and identical shareholder rights as traditional stocks.
This pilot is based on the tokenization plan of the Depository Trust & Clearing Corporation (DTCC). Investors can choose whether to settle in token form when placing orders, and the system will conduct on-chain processing after the trade.
Nasdaq stated that apart from the settlement method, trading rules, market data, fee structure, and regulatory monitoring remain unchanged, and tokenized securities are fully integrated into the current securities law framework.
The industry believes that this move signifies the official entry of “U.S. stocks on the chain” into the regulatory implementation phase, potentially reshaping the securities issuance, trading, and settlement system.
