Using blockchain-based representations of real-world assets (securities, including equities and bonds), and operating under the SEC's December 2025 No-Action Letter that covers Russell 1000 stocks and major ETFs, the titans of Wall Street put the pedal to the metal for 4 hours. The test was a successful proof of concept, and DTCC is planning to move toward a live October 2026 launch. The trading system will operational by the end of 2026