The New York Stock Exchange has filed a comprehensive rule change with the U.S. Securities and Exchange Commission to enable tokenized versions of eligible securities to trade on its market. According to reports from Crypto.news, the filing was submitted on April 9, 2026, and would adopt Rule 7.50 while amending several exchange rules. The SEC issued the notice on April 17, 2026, with public comments due by May 13, 2026.
Under the proposed framework, tokenized securities must maintain complete equivalence with their traditional counterparts. As reported by Crypto.news, these securities must share the same CUSIP number, ticker, rights, and privileges as regular securities. The exchange confirmed that tokenized securities would trade on the same order book and follow the same execution priority rules. The filing emphasizes that tokenized securities must provide holders with the same rights to dividends, voting, and residual assets as traditional shares.
The proposed rule change would operate within a three-year Depository Trust Company pilot program under a December 2025 SEC staff no-action letter. According to Crypto.news, eligible members would enter orders through the exchange and choose instructions for DTC to clear and settle the trade in tokenized form. The filing states that tokenized securities can trade within the current national market system, maintaining compliance with existing regulatory frameworks.
NYSE's filing follows similar regulatory developments from other major exchanges. As reported by Crypto.news, Nasdaq recently amended its rules to allow tokenized securities trading during the DTC pilot, with NYSE's proposal based on Nasdaq's approved rule structure. Additionally, a separate NYSE Arca filing named XRP, Bitcoin, Ethereum, and Solana as assets that could qualify under proposed commodity trust listing standards, though this filing does not formally classify XRP as a commodity under federal law. The regulatory push comes as the Office of the Comptroller of the Currency faces pressure from major asset managers regarding tokenized reserve caps.
