Nasdaq, the world’s second-largest inventory trade by market capitalization, is in search of regulatory approval from the US securities regulator to checklist tokenized shares.
Nasdaq filed a request Monday with the US Securities and Trade Fee (SEC) asking for a rule change that might enable the corporate to checklist tokenized shares.
The trade operator particularly requested to amend sure guidelines, together with the definition of a safety, to commerce tokenized shares beneath the identical execution and documentation guidelines as conventional securities, offered the tokenized variations are deemed equal.
According to a report by Bloomberg, Nasdaq’s request with the SEC would transcend a technical rule change because it pertains to the foundations of how shares are issued and settled.
Tokenized property must be clearly labeled
One of many modifications sought by Nasdaq with the SEC is that tokenized property must be clearly labeled to make sure that all members, together with these answerable for clearing and settlement, just like the Depository Belief Firm, correctly course of these trades.
Moreover, Nasdaq additionally stated that tokenized property would have the identical precedence during which the trade executes that order because it does with conventional shares.
If authorized, US-regulated exchanges, together with Nasdaq, could be licensed to checklist tokenized shares on their platforms, which might enhance liquidity for blockchain-based variations of conventional securities.
This can be a creating story, and additional info can be added because it turns into out there.
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