\documentclass{article}
\usepackage{xparse}
\ExplSyntaxOn
\cs_new:Nn \msx_parse:n {#1}
\NewDocumentCommand \MusicChord { }
{
\group_begin:
\char_set_catcode_letter:n \#
\__msx_scan:w
}
\cs_new:Npn \__msx_scan:w / #1 /
{
\msx_parse:n {#1}
\group_end:
}
\ExplSyntaxOff
\begin{document}
\MusicChord/Dm7#9#9#5#11b9#5/
\end{document}