SEC (US) issued a temporary conditional exemptive order enabling permissioned distributed ledger trading venues and AMM liquidity providers for tokenized NMS stocks, and is requesting public comment on the order.
The order sets the technical and regulatory conditions under which tokenized securities can trade on smart-contract-based AMM liquidity pools in the US — including permissioning criteria, exchange/dealer exemption scope, and market structure definitions that will shape how tokenized equities settle going forward. The comment period is open now, giving technical practitioners a concrete window to inform AMM architecture, permissioning standards, and interoperability requirements before these become entrenched market practice.
Coordinate a technical comment submission to the SEC docket (File No. 4-927, Release No. 34-106402) drawing on member expertise in tokenized securities, smart contract AMM design, and DLT market infrastructure standards.
