NYSE Tokenized Stocks Draw Attention From TD Securities

TD Securities says tokenization may be nearing an institutional turning point following the New York Stock Exchange’s push into tokenized equities. Reid Noch, the bank’s vice president for electronic trading, pointed to the NYSE’s proposed tokenized equities alternative trading system as a key development with real implications for market structure.

The planned platform would enable 24-hour trading and near-instant settlement of tokenized stocks and exchange-traded funds, subject to regulatory approval. Rather than creating a parallel crypto-native marketplace, the venue is designed to operate within existing US market rules while leveraging blockchain-based settlement infrastructure.

Noch described the structure as closer to a “2.0” market shift, with custody and settlement anchored to the Depository Trust & Clearing Corporation (DTCC) while trading would comply with National Best Bid and Offer (NBBO) requirements to prevent fragmented liquidity.

United States, New York

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