ESMA have published a final report on a regulation for a pilot regime for market infrastructures based on distributed ledger technology (DLT).

The DLT Pilot aims at developing the trading and settlement for ‘tokenised’ securities, i.e. digital representations of traditional securities.

The pilot is designed to assess whether RTS 22 (and other regulatory standards) needs to be amended to be effectively applied to financial instruments issued, traded and recorded on DLT.

Please find the key sections and comments relevant to RTS 22 here;

• RTS 22 on transaction reporting – Private individuals
• RTS 22 – Details to be reported
• 5.3.1 Definition of order
• 5.3.2 Chains of transmission on DLT financial instruments
• 5.3.3 Split or aggregated orders
• 5.3.4 “Transmission of an order”
• 5.3.5 Definition of execution and transaction
• 5.3.6 General fields: instrument identification and classification
• 5.3.7 Reporting formats, systems and IT infrastructure
• 5.3.8 Currency fields

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