Global Classification Standard
Tokenized Financial Instruments Classification (TFIC)
The TFIC provides a structured framework for categorizing financial instruments issued or represented on distributed ledger infrastructures (DLT).
This standard aims to harmonize the interpretation of tokenized assets for regulators, financial institutions, and researchers.
The TFIC follows the logical structure of ISO 10962 (CFI) but is optimized for the multi-registry nature of tokenized finance.
Level 1: Category
Class (D, E, F)
Level 2: Group
Instrument Nature
Level 3: Type
Execution Logic
Level 4: Subtype
Registry Marker
Institutional Classification Matrix
Debt Instruments TFIC-D
- Smart Bonds (D-01)
- Tokenized Commercial Paper (D-02)
- Digital Debt Certificates (D-03)
- On-chain Syndicated Loans (D-04)
Equity Instruments TFIC-E
- Tokenized Common Stock (E-01)
- Digital Preferred Shares (E-02)
- Fractionalized RWA Equity (E-03)
Fund Instruments TFIC-F
- Tokenized UCITS VI (F-01)
- On-chain Money Market Funds (F-02)
- Private Equity Tokenized Vehicles (F-03)
Derivative Instruments TFIC-DR
- Smart Derivative Contracts (DR-01)
- On-chain Options & Futures (DR-02)
- Programmable Swaps (DR-03)
Institutional Citation
DCM Core Institute (2026). "TFIC: Technical Financial Instruments Classification Standard".
Institutional Standards Series. Available at: dcmcore.com/en/research/programmable-capital-markets/tfic-classification.html
@techreport{dcmcore2026tfic,
author = {DCM Core Institute},
title = {TFIC Classification Framework},
institution = {DCM Core Institute},
year = {2026},
url = {https://dcmcore.com/en/standards/tfic-classification.html}
}