--- title: "ESMA Q&A 2002 — Q&A — Authorisation for credit institutions to operate a DLT [Answer Published]" shortTitle: "ESMA Q&A 2002 — Q&A — Authorisation for credit institutions to operate a DLT [Answer Published]" answer_id: ESMA_QA_2002 topic: "DLT multilateral trading facility (DLT MTF)" status: "Answer Published" type: qa instrument_type: qa authority: ESMA binding: false binding_character: non_binding legal_status: in_force regulation: "DLT Pilot" dlt_level3: true mica_level2: false legal_basis: "Article 8 of DLTR" date: 7 November 2023 source_link: https://www.esma.europa.eu/publications-data/questions-answers/2002 lifecycle: "Answer Published" text_version: "ESMA Q&A register, 7 November 2023" source_url: "https://www.esma.europa.eu/publications-data/questions-answers/2002" check_status: matched verified: true last_checked: 2026-10-26 checked_against: "the ESMA publication" source: prepared_by: "European Commission" published_by: "ESMA" published_in: "ESMA Q&A tool" evidence: prepared_by: "Answer provided by the European Commission" locator: "ESMA Q&A entry ESMA_QA_2002, first line of the answer field" document_type: "qa_answer" legal_nature: "not_legislation" addressees: "not stated in the document" dates: published_on: "2023-11-07" question_submitted_on: "2023-11-07" locators: published_on: "ESMA Q&A Excel export ESMA_QA_2002, column 'Esma responses', date line" question_submitted_on: "ESMA Q&A Excel export ESMA_QA_2002, column 'Date of submission'" lifecycle_label: "Answer Published" --- **Answer prepared by the European Commission, published in the ESMA Q&A tool · not legislation · published 7 Nov 2023 [Answer Published]** *Answer Published · ESMA Q&A register, 7 November 2023 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/2002)* | | | |---|---| | **Full title** | ESMA Q&A 2002 — Q&A — Authorisation for credit institutions to operate a DLT \[Answer Published\] | | **Prepared by** | European Commission | | **Published by** | ESMA, in the ESMA Q&A tool | | **Reference** | ESMA_QA_2002 | | **Document type** | Q&A | | **Legal nature** | Not legislation | | **Addressees** | Not stated in the document | | **Dates** | Published 7 November 2023; question submitted 7 November 2023 | | **Legal basis** | Article 8 of DLTR | | **Related instruments** | None recorded | | **Text on this page** | Word for word — the full text of the ESMA publication | **Authorisation for credit institutions to operate a DLT MTF** ### Question Should a credit institution authorised in accordance with CRD IV/CRR and providing investment services or performing investment activities in accordance with MiFID II/MiFIR be required to apply for an authorisation as an investment firm in order to operate a DLT MTF (distributed ledger technology multilateral trading facility)? *** ### Answer Answer provided by the European Commission in accordance with Article 16b(5) of the ESMA Regulation Recital 38 of Directive 2014/65/EU states that credit institutions authorized under Directive 2013/36/EU should not need a separate authorization under Directive 2014/65/EU to provide investment services or perform investment activities. It also notes that the national competent authority should verify compliance with Directive 2014/65/EU before granting an authorization to the credit institution to provide investment services or perform investment activities. This means that a credit institution does not need a separate license as an investment firm under Directive 2014/65/EU in order to apply for a DLT MTF license under the DLTPR but can rather leverage its existing licence under Directive 2013/36/EU. In that sense, recital 13 of the DLTPR, which notes that a credit institution should only be allowed to operate a DLT MTF when it is authorised as an investment firm under Directive 2014/65/EU, should be interpreted such that the competent authority should ensure that the credit institution complies with the provisions of Directive 2014/65/EU applicable to the service of operating an MTF as well as other relevant provisions of that directive when considering the need for an application for a DLT MTF licence under the DLTPR. The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts. *** **Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2002) ## Related Level 1 articles - [Article 8 — Specific permission to operate DLT MTF](../../../articles/8.md)