Clifford Chance
The EU Pilot Regime: accelerating the development of a digital capital market in Europe
2 September 2022
From 23 March 2023, for an initial three year period, operators of DLT Market infrastructures will be given the opportunity under the EU Pilot Regime to experiment with the use of DLT in issuance and post-trade processes, free from certain regulatory constraints. This is expected to give rise to an increase in the volume of issuances of financial instruments that are issued, recorded, transferred and stored using DLT in Europe.
We discuss this recent development in the fourth edition of our monthly European capital markets briefing series.
The key points discussed in this briefing are:
- Who can benefit from the EU Pilot Regime?
- What EU Financial Services Legislation can be disapplied?
- What are the conditions attached to participation in the EU Pilot Regime?
- What are the next steps?
Our European Capital Markets team is happy to further discuss these and other topics with you. Do not hesitate to reach out to one of our team members in Europe.
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