Overview
- Eligibility spans Russell 1000 stocks, major index-tracking ETFs, and U.S. Treasurys for opt-in DTC participants, with some temporarily excluded for tax and reporting reasons.
- DTCC targets a launch in the second half of 2026 under a three-year production window on pre-approved L1/L2 networks to be published.
- Tokens will record participants’ security entitlements while the underlying securities remain registered to Cede & Co., maintaining the existing nominee framework.
- Transfers will be limited to DTCC-registered wallets, and DTCC will retain a root wallet to reverse or correct transactions under defined conditions.
- DTC must file quarterly reports covering participants, tokenized values, networks used or declined, outages, and any reversals, with tokens initially carrying no collateral or settlement value.