24X rule change for tokenized securities trading under DTC pilot
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The rule change lets 24X National Exchange support trading of securities in tokenized form while DTC runs a pilot program approved through an SEC staff no-action letter. It updates 24X rules on eligible securities, exchange access, order priority, and routing to other trading centers. The practical impact is limited but important for market infrastructure firms, broker-dealers, exchange members, and firms testing tokenized securities. They will need to understand how tokenized versions of securities can trade on 24X during the pilot and how existing trading rules apply.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Allows tokenized securities to trade on 24X during the DTC pilot program
- Updates rules on which securities are eligible for trading on the exchange
- Clarifies how access, order priority, and routing rules apply to tokenized securities