ESMA publishes consultation on applying to operate DLT market infrastructure

Consultation Paper on guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure

Articles 8 to 10 of the (EU) Regulation No 858/2022 on a pilot regime for market infrastructures based on distributed ledger technology (‘DLTR’) provides for the main conditions to apply for a specific permission to operate a DLT MTF, a DLT SS or a DLT TSS. These articles require ESMA to develop guidelines to establish standard forms, formats andtemplates for this purpose. This consultation paper seeks stakeholders’ views on the draft guidelines prepared by ESMA.

Section 2 contains information on the background and mandate, while Section 3 contains the proposed guidelines and related questions. Two sets of guidelines are submitted to consultation: the first ones specify the minimum instructions that NCAs should provide to market participants for submitting their applications to them and the second one specifies how applicants should provide the requested information and documents to their competent authorities.

ESMA will consider the feedback it will receive to this consultation with a view to finalising the guidelines ahead of the application date of DLTR (23 March 2023).

The consultation paper is available at https://www.esma.europa.eu/sites/default/files/library/esma_70-460-34_cp_on_dlt_pilot_gl_on_application_for_permission.pdf

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