ESMA provides guidance to applicants under the DLT Pilot Regime
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Final Report including Guidelines on standard templates, forms and formats to apply for permission to operate a DLT market infrastructure.
These Guidelines include templates to be used by market participants to apply for specific permission to operate any type of DLT market infrastructure (DLT MI) under the DLT Pilot Regulation (DLTR), namely: a DLT MTF, a DLT settlement system or a DLT trading and settlement system. They also include templates for the applicants DLT MIs to request limited exemptions from specific requirements under MiFIR, MiFID II or CSDR, provided they comply with certain conditions. Instructions on how to submit this information should be published by the national competent authorities on their website.
Applicants are strongly encouraged to anticipate the formal entry into force of the guidelines, and to refer to the Guidelines included in this Final Report and liaise with their national competent authority to prepare their application for permission to operate a DLT MI.
The Final Report takes into account responses received to the Public Consultation conducted in July and August 2022.
Next steps
The Guidelines will be published on the ESMA website in the EU official languages in the coming weeks. The comply or explain procedure for authorities will follow, in accordance with Article 16(3) of ESMA Regulation. The Guidelines will enter into force on 23 March 2023.
Further information:
Dan Nacu-Manole
Communications Officer
✆ +33 (0)1 58 36 52 06