On 11 July 2022, the European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on standard forms, formats and templates to apply for permission to operate a distributed ledger technology (DLT) market infrastructure.
Regulation No 858/2022 on a pilot regime for market infrastructures based on distributed ledger technology (DLTR) introduces three categories of DLT market infrastructures – DLT multilateral trading facilities (DLT MTF), DLT trading and settlement systems (DLT TSS) and DLT settlement systems (DLT SS). Articles 8 to 10 of the DLTR provides for the main conditions for a market participant to apply for a specific permission to operate a DLT MTF, a DLT SS or a DLT TSS. The information to be provided is listed in Article 8(4), 9(4) and 10(4) of the DLTR. The DLTR provides for the ESMA to establish standard forms, formats and templates for the submission of this information by market participants to Member State competent authorities.
The deadline for comments on the draft guidelines is 9 September 2022 with a view to finalising the guidelines ahead of the application date of DLTR (23 March 2023).