> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/dlt-pilot/articles/6.md).

# Article 6 — Requirements and exemptions regarding DLT TSSs

*In force · Regulation (EU) 2022/858, OJ L 151, 2.6.2022 · Checked against EUR-Lex on 5 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/eli/reg/2022/858/oj/eng)

1. An investment firm or market operator operating a DLT TSS shall be subject to:

   **(a)** the requirements that apply to a multilateral trading facility under Regulation (EU) No 600/2014 and Directive 2014/65/EU; and

   **(b)** mutatis mutandis, the requirements that apply to a CSD under Regulation (EU) No 909/2014, with the exception of Articles 9, 16, 17, 18, 20, 26, 27, 28, 31, 42, 43, 44, 46 and 47 of that Regulation.

   The first subparagraph does not apply in respect of those requirements from which the investment firm or market operator operating the DLT TSS has been exempted under [Article 4(2)](/dlt-pilot/articles/4.md) and (3) and [Article 5(2)](/dlt-pilot/articles/5.md) to (9), provided that that investment firm or market operator complies with:

   **(a)** [Article 7](/dlt-pilot/articles/7.md);

   **(b)** [Article 4(2)](/dlt-pilot/articles/4.md), (3) and (4) and [Article 5(2)](/dlt-pilot/articles/5.md) to (10); and

   **(c)** any compensatory measures that the competent authority deems appropriate in order to meet the objectives of the provisions in respect of which an exemption has been requested, or in order to ensure investor protection, market integrity or financial stability.
2. A CSD operating a DLT TSS shall be subject to:

   **(a)** the requirements that apply to a CSD under Regulation (EU) No 909/2014; and

   **(b)** mutatis mutandis, the requirements that apply to a multilateral trading facility under Regulation (EU) No 600/2014 and Directive 2014/65/EU, with the exception of Articles 5 to 13 of that Directive.

   The first subparagraph does not apply in respect of those requirements from which the CSD operating the DLT TSS has been exempted under [Article 4(2)](/dlt-pilot/articles/4.md) and (3) and [Article 5(2)](/dlt-pilot/articles/5.md) to (9), provided that that CSD complies with:

   **(a)** [Article 7](/dlt-pilot/articles/7.md);

   **(b)** [Article 4(2)](/dlt-pilot/articles/4.md), (3) and (4) and [Article 5(2)](/dlt-pilot/articles/5.md) to (10); and

   **(c)** any compensatory measures that the competent authority deems appropriate in order to meet the objectives of the provisions in respect of which an exemption has been requested or in order to ensure investor protection, market integrity or financial stability.

***

[Articles](/dlt-pilot/articles.md) · [← Article 5](/dlt-pilot/articles/5.md) · [Article 7 →](/dlt-pilot/articles/7.md)


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