Ten institutions recently completed a simulation trial of the Regulated Settlement Network (RSN), exploring the use of a shared DLT network to settle tokenized transactions. This is an extension of a previous trial of the Regulated Liability Network conducted last year, which included tokenized commercial bank currencies and tokenized central bank currencies on the same network. This time, tokenized government bonds and investment grade bonds were also on a shared ledger, enabling cash on delivery for wholesale transactions. The trial also explored interoperability with external DLT networks. SIFMA served as coordinator for participating institutions, including Citibank, JPMorgan Chase, MasterCard, Swift, TD Bank, Bank of America, USDF, Wells Fargo, Visa, and Zions Bancorp, led by SIFMA.