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publication"},"repo_path":"spaces/dlt-pilot/level-3/q-and-a/esma/esma-qa-2046-eligibility-for-operating-a-dlt-ss-under-the-dlt-pilot.md","body_sha256":"e230de85760c7193d66d6370bfc4377928ab25ebe07f3814b9b4b7f59dd18334"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 2046 — Q&A — Eligibility for operating a DLT SS under the DLT Pilot [Answer Published]\"\nshortTitle: \"ESMA Q&A 2046 — Q&A — Eligibility for operating a DLT SS under the DLT Pilot [Answer Published]\"\nanswer_id: ESMA_QA_2046\ntopic: \"DLT market infrastructure\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"DLT Pilot\"\ndlt_level3: true\nmica_level2: false\nlegal_basis: \"DLT Pilot\"\ndate: 18 December 2023\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/2046\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 18 December 2023\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/2046\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"European Commission\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"Answer provided by the European Commission\"\n    locator: \"ESMA Q&A entry ESMA_QA_2046, first line of the answer field\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2023-12-18\"\n  question_submitted_on: \"2023-12-18\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_2046, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_2046, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer prepared by the European Commission, published in the ESMA Q&A tool · not legislation · published 18 Dec 2023 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 18 December 2023 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/2046)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 2046 — Q&A — Eligibility for operating a DLT SS under the DLT Pilot \\[Answer Published\\] |\n| **Prepared by** | European Commission |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_2046 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 18 December 2023; question submitted 18 December 2023 |\n| **Legal basis** | DLT Pilot |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Eligibility for operating a DLT SS under the DLT Pilot Regime**\n\n### Question\n\nWho can be the operator of a DLT SS under the DLT Pilot Regime?\n\n***\n\n### Answer\n\nAnswer provided by the European Commission in accordance with Article 16b(5) of the ESMA Regulation\n\nAn operator of a digital ledger technology settlement system (DLT SS) under Regulation (EU) 2022/858 (DLTR) can only be a legal person that is authorised as a central securities depository (CSD) under Regulation (EU) No 909/2014 (CSDR) and has received the specific permission to operate a DLT SS under the DLTR.\n\nThis follows from Article 9(1) DLTR which provides that “a legal person who is authorised as a CSD under Regulation (EU) No 909/2014 may apply for a specific permission to operate a DLT SS under this Regulation”.\n\nThis is also clearly stated in recital 18 of the DLTR: ”\\[a\\] DLT SS should be a settlement system operated by a CSD authorised under Regulation (EU) No 909/2014 that has received a specific permission to operate a DLT SS under this Regulation”.\n\nThe 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.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2046)\n"}