On 15 December 2022, the European Securities and Markets Authority published a final report containing guidelines on standard forms, formats and templates to apply for permission to operate a Distributed Ledger Technology market infrastructure (DLT MI).

Between 11 July and 9 September 2022, ESMA conducted a public consultation on draft guidelines on standard forms, formats and templates to apply for permission to create a DLT MI. The final report summarises and analyses the responses to the consultation paper and explains how the responses have been taken into account.

The guidelines include templates to be used by market participants to apply for specific permission to operate any type of DLT MI under the DLT Pilot Regulation, namely a DLT MTF, a DLT settlement system or a DLT trading and settlement system. They also include a template for the applicant DLT MIs to request limited exemptions from specific requirements under MiFIR, MiFID II or CSDR, provided they comply with certain conditions.

Applicants are strongly encouraged to anticipate the formal entry into force of the guidelines, and to refer to the guidelines and liaise with their Member State national competent authority to prepare their application for permission to operate a DLT MI.

The guidelines will be published on ESMA’s website in the EU official languages in the coming weeks. The guidelines will enter into force on 23 March 2023.