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ARTICLE · 21 DECEMBER 2022

The DLT Pilot Regime: ESMA Issues Guidelines To Applicants

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On the 15th December 2022, the European Securities and Markets Authority (ESMA) published the Final Report comprising of guidelines on standard templates, forms and formats...

MaltaFinance and Banking
Jean Farrugia
Jean Farrugia
Alejandro Borg
Alejandro Borg

On the 15th December 2022, the European Securities and Markets Authority (ESMA) published the Final Report comprising of guidelines on standard templates, forms and formats to be used by market participants when applying for permission to operate any type of Distributed Ledger Technology ('DLT') based market infrastructure under the DLT Regulation ('DLTR'). The Report also includes templates for applicants to request limited exemptions from specific requirements under MiFIR, MiFID II or CSDR, subject to certain conditions. DLT market infrastructure includes MTF's that only admit DLT financial instruments to trading, as well as settlement systems that settle transactions in DLT financial instruments.

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