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European Commission Introduces Sandbox for DLT-Based Trading and Post-Trading Market Infrastructures
17 November 2020
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The European Commission introduced a draft of a regulation providing for a sandbox for DLT based-trading and post-trading market infrastructures.
The sandbox will allow investment firms and market operators authorized under MiFID to operate DLT-based multilateral trading facilities while being exempted from certain MiFID rules.
Central securities depositories authorized under the CSDR will also be able to operate DLT-based securities settlement systems while being exempted from certain CSDR requirements.
The exemption will be only granted to DLT-based market infrastructures providing trading and post-trading services with respect to DLT-based transferable securities that are illiquid.
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Gary E. Murphy
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