Le coincheap bhonneagair mhargaidh DLT, cuimsítear saoráidí trádála iltaobhacha DLT (MTF DLT), córais socraíochta DLT (SS DLT) agus córais trádála agus socraíochta DLT (TSS DLT).
The concept of DLT market infrastructure comprises DLT multilateral trading facilities (DLT MTF), DLT settlement systems (DLT SS) and DLT trading and settlement systems (DLT TSS).
Ba cheart gurb éard a bheadh in TSS DLT ná MTF DLT ina gcomhcheanglaítear na seirbhísí arna ndéanamh ag MTF DLT agus arna ndéanamh ag SS DLT, agus ba cheart é a bheith á oibriú ag gnólacht infheistíochta nó ag oibreoir margaidh a bhfuil cead sonrach faighte aige TSS DLT a oibriú faoin Rialachán seo, nó ar cheart dó a bheith ina SS DLT ina gcomhcheanglaítear na seirbhísí arna ndéanamh ag MTF DLT agus arna ndéanamh ag SS DLT, agus ba cheart é a bheith á oibriú ag CSD a bhfuil cead sonrach faighte aige TSS DLT a oibriú faoin Rialachán seo.
A DLT TSS should be either a DLT MTF that combines the services performed by a DLT MTF and by a DLT SS, and should be operated by an investment firm or market operator that has received a specific permission to operate a DLT TSS under this Regulation, or should be a DLT SS that combines the services performed by a DLT MTF and by a DLT SS, and should be operated by a CSD that has received a specific permission to operate a DLT TSS under this Regulation.
ciallaíonn “córas trádála agus socraíochta DLT” nó “TSS DLT” MTF DLT nó SS DLT lena gcomhcheanglaítear na seirbhísí a dhéanann MTF DLT agus SS DLT araon;
‘DLT trading and settlement system’ or ‘DLT TSS’ means a DLT MTF or DLT SS that combines services performed by a DLT MTF and a DLT SS;
ciallaíonn “bonneagar margaidh DLT” saoráid trádála iltaobhach DLT, córas socraíochta DLT nó córas trádála agus socraíochta DLT;
‘DLT market infrastructure’ means a DLT multilateral trading facility, a DLT settlement system or a DLT trading and settlement system;
líon agus luach ionstraimí airgeadais DLT a ligtear isteach chun a dtrádála ar MTF DLT nó TSS DLT agus líon agus luach ionstraimí airgeadais DLT arna dtaifeadadh ag oibreoir SS DLT nó TSS DLT;
the number and value of DLT financial instruments admitted to trading on the DLT MTF or DLT TSS and the number and value of DLT financial instruments recorded by the operator of the DLT SS or DLT TSS;
líon agus luach na n-idirbheart arna dtrádáil ar MTF DLT nó TSS DLT agus arna socrú ag oibreoir SS DLT nó TSS DLT;
the number and value of transactions traded on the DLT MTF or DLT TSS and settled by the operator of the DLT SS or DLT TSS;
Is é an t-údarás inniúil do oibreoir margaidh a bhfuil MTF DLT nó TSS DLT á oibriú aige a bheidh san údarás inniúil arna ainmniú ag an mBallstát ina bhfuil oifig chláraithe de chuid oibreoir margaidh a bhfuil MTF DLT nó TSS DLT á oibriú aige suite nó, mura bhfuil aon oifig chláraithe ag an oibreoir margaidh i gcomhréir le dlí an Bhallstáit sin, an Ballstát ina bhfuil ceannoifig oibreoir margaidh a bhfuil MTF DLT nó TSS DLT á oibriú aige suite.
The competent authority for a market operator operating a DLT MTF or DLT TSS shall be the competent authority designated by the Member State in which the registered office of the market operator operating the DLT MTF or DLT TSS is situated or, if in accordance with the law of that Member State the market operator has no registered office, the Member State in which the head office of the market operator operating the DLT MTF or DLT TSS is situated.
ciallaíonn “córas socraíochta DLT” nó “SS DLT” córas socraíochta lena socraítear idirbhearta in ionstraimí airgeadais DLT i gcoinne íocaíochta nó i gcoinne seachadta, gan beann ar an gcóras socraíochta sin a bheith ainmnithe agus fógartha i gcomhréir le Treoir 98/26/CE, agus lena lamháiltear d’ionstraimí airgeadais DLT a thaifeadadh den chéad uair nó lena lamháiltear do sheirbhísí slánchoinneála a sholáthar i ndáil le hionstraimí airgeadais DLT;
‘DLT settlement system’ or ‘DLT SS’ means a settlement system that settles transactions in DLT financial instruments against payment or against delivery, irrespective of whether that settlement system has been designated and notified in accordance with Directive 98/26/EC, and that allows the initial recording of DLT financial instruments or allows the provision of safekeeping services in relation to DLT financial instruments;
ciallaíonn “saoráid trádála iltaobhach DLT” nó “MTF DLT” saoráid trádála iltaobhach nach mbíonn rannpháirteach ach i dtrádáil ionstraimí airgeadais DLT;
‘DLT multilateral trading facility’ or ‘DLT MTF’ means a multilateral trading facility that only admits to trading DLT financial instruments;
Ríomhfaidh oibreoir bhonneagar margaidh DLT meán-mhargadhluach comhiomlán míosúil ionstraimí airgeadais DLT a thrádálfar nó a thaifeadfar ar an mbonneagar margaidh DLT sin.
The operator of a DLT market infrastructure shall calculate the monthly average aggregate market value of DLT financial instruments traded or recorded on that DLT market infrastructure.
Ba cheart gnólacht infheistíochta nó oibreoir margaidh a bhfuil TSS DLT á oibriú aige a bheith faoi réir na gceanglas uile a bhfuil feidhm acu maidir le MTF DLT, agus ba cheart CSD a bhfuil TSS DLT á oibriú aige a bheith faoi réir na gceanglas uile a bhfuil feidhm acu maidir le SS DLT.
An investment firm or market operator operating a DLT TSS should be subject to the requirements that apply to a DLT MTF, and a CSD operating a DLT TSS should be subject to the requirements that apply to a DLT SS.
I gcás ina mbíonn slánchoinneáil cistí cliant, mar atá airgead tirim nó coibhéisí airgid, nó ionstraimí airgeadais DLT, nó modhanna rochtana ar na hionstraimí airgeadais DLT sin, lena n-áirítear i bhfoirm eochracha cripteagrafacha, mar chuid de phlean gnó oibreoir bhonneagar margaidh DLT, ba cheart socruithe leordhóthanacha a bheith i bhfeidhm ag bonneagar margaidh DLT chun na sócmhainní sin a chosaint.
Where the business plan of an operator of a DLT market infrastructure involves the safekeeping of clients’ funds, such as cash or cash equivalents, or of DLT financial instruments, or of the means of access to such DLT financial instruments, including in the form of cryptographic keys, the DLT market infrastructure should have adequate arrangements in place to safeguard those assets.
Ní ligfear ionstraimí airgeadais DLT isteach chun a dtrádála ar bhonneagar margaidh DLT, nó ní dhéanfar iad a thaifeadadh ar bhonneagar margaidh DLT, ach amháin, más rud é, tráth a ligin isteach chun trádála nó tráth an taifeadta ar mhórleabhar dáilte, gurb iad seo a leanas ionstraimí airgeadais DLT:
DLT financial instruments shall only be admitted to trading on a DLT market infrastructure, or be recorded on a DLT market infrastructure, if, at the moment of admission to trading or the moment of recording on a distributed ledger, the DLT financial instruments are:
Maidir le margadhluach comhiomlán ionstraimí airgeadais DLT uile a ligtear isteach chun a dtrádála ar bhonneagar margaidh DLT nó a thaifeadtar ar bhonneagar margaidh DLT, ní rachaidh siad thar EUR 6 bhilliún tráth a ligin isteach chun trádála, nó tráth chéad taifeadta ionstraim airgeadais nua DLT.
The aggregate market value of all the DLT financial instruments that are admitted to trading on a DLT market infrastructure or that are recorded on a DLT market infrastructure shall not exceed EUR 6 billion at the moment of admission to trading, or initial recording, of a new DLT financial instrument.
I gcás ina shroichfeadh an margadhluach comhiomlán dá dtagraítear sa chéad fhomhír EUR 6 bhilliún mar thoradh ar ionstraim airgeadais DLT a ligean isteach chun trádála nó mar thoradh ar thaifeadadh ionstraim airgeadais nua DLT, le bonneagar margaidh DLT, ní dhéanfar an ionstraim airgeadais DLT sin a ligean isteach chun trádála nó í a thaifeadadh.
Where the admission to trading or initial recording of a new DLT financial instrument would result in the aggregate market value referred to in the first subparagraph reaching EUR 6 billion, the DLT market infrastructure shall not admit that DLT financial instrument to trading or record it.
I gcás ina shroichfeadh margadhluach comhiomlán ionstraimí airgeadais DLT uile a ligtear isteach chun a dtrádála ar bhonneagar margaidh DLT nó a thaifeadtar ar bhonneagar margaidh DLT EUR 9 mbilliún, gníomhachtóidh oibreoir bhonneagar margaidh DLT an straitéis aistrithe dá dtagraítear in Airteagal 7(7).
Where the aggregate market value of all the DLT financial instruments that are admitted to trading on a DLT market infrastructure or that are recorded on a DLT market infrastructure has reached EUR 9 billion, the operator of the DLT market infrastructure shall activate the transition strategy referred to in Article 7(7).
I gcás ina ndearnadh CSD a bhfuil SS DLT á oibriú aici a dhíolmhú i gcomhréir leis an gcéad fhomhír, tabharfaidh sí rochtain ar a SSanna DLT d’oibreoirí eile SSanna DLT nó d’oibreoirí eile TSSanna DLT.
Where a CSD operating a DLT SS has been exempted in accordance with the first subparagraph of this paragraph, it shall give other operators of DLT SSs or other operators of DLT TSSs access to its DLT SS.
Déanfaidh oibreoirí bhonneagair mhargaidh DLT doiciméadacht scríofa atá cothrom le dáta, soiléir agus mionsonraithe a chur ar fáil go poiblí freisin, doiciméadacht a fhéadfaidh siad a chur ar fáil go leictreonach, ina sainmhíneofar na rialacha faoina n-oibreoidh bonneagair mhargaidh DLT agus a n-oibreoirí, lena n-áirítear na téarmaí dlíthiúla lena sainmhíneofar cearta, oibleagáidí, freagrachtaí agus dliteanais oibreoirí bhonneagair mhargaidh DLT, mar aon le cearta, oibleagáidí, freagrachtaí agus dliteanais na gcomhaltaí, na rannpháirtithe, na n-eisitheoirí agus na gcliant a bhaineann úsáid as a mbonneagar margaidh DLT.
Operators of DLT market infrastructures shall also make publicly available up-to-date, clear and detailed written documentation that defines the rules under which the DLT market infrastructures and their operators are to operate, including the legal terms defining the rights, obligations, responsibilities and liabilities of operators of DLT market infrastructures, as well as those of the members, participants, issuers and clients using their DLT market infrastructure.
Coinneoidh oibreoirí bhonneagar margaidh DLT taifid shábháilte, chruinne, iontaofa agus in-aisghafa de na cistí, den chomhthaobhacht agus d’ionstraimí airgeadais DLT atá i seilbh a mbonneagar margaidh DLT le haghaidh a gcomhaltaí, a rannpháirtithe, a n-eisitheoirí nó a gcliant mar aon leis na modhanna rochtana ar na cistí, ar an gcomhthaobhacht agus ar ionstraimí airgeadais DLT sin.
Operators of DLT market infrastructure shall maintain safe, accurate, reliable and retrievable records of the funds, collateral and DLT financial instruments held by their DLT market infrastructure for their members, participants, issuers or clients, as well as of the means of access to those funds, collateral and DLT financial instruments.
Gan dochar do Rialachán (AE) Uimh. 909/2014 agus do Threoir 2014/65/AE, ba cheart an chumhacht a bheith ag na húdaráis inniúla cead sonrach nó aon díolúintí a deonaíodh do bhonneagar margaidh DLT a tharraingt siar i gcás inar aimsíodh locht sa bhunteicneolaíocht nó sna seirbhísí agus sna gníomhaíochtaí arna soláthar ag oibreoir an bhonneagair margaidh DLT, i gcás inar mó an locht sin ná na buntáistí agus gníomhaíochtaí a sholáthraíonn an tseirbhís atá i gceist, nó i gcás inar sháraigh oibreoir an bhonneagair margaidh DLT aon oibleagáidí a ghabhann leis na ceadanna nó leis na díolúintí arna dtabhairt ag an údarás inniúil, nó i gcás ina bhfuil ionstraimí airgeadais taifeadta ag oibreoir an bhonneagair margaidh DLT ar ionstraimí iad a sháraíonn na tairseacha a leagtar amach sa Rialachán seo nó nach gcomhlíonann siad coinníollacha eile is infheidhme maidir le hionstraimí airgeadais DLT faoin Rialachán seo.
Without prejudice to Regulation (EU) No 909/2014 and Directive 2014/65/EU, competent authorities should have the power to withdraw a specific permission or any exemptions granted to a DLT market infrastructure where a flaw has been discovered in the underlying technology or in the services and activities provided by the operator of the DLT market infrastructure, if that flaw outweighs the benefits of the service and activities at stake, or where the operator of the DLT market infrastructure has breached any obligations attached to the permissions or exemptions granted by the competent authority, or where the operator of the DLT market infrastructure has recorded financial instruments that exceed the thresholds set out in this Regulation or that do not fulfil other conditions that apply to DLT financial instruments under this Regulation.
Níor cheart do bhonneagair margaidh DLT ach ionstraimí airgeadais DLT a ligean isteach chun a dtrádála nó chun a dtaifeadta ar mhórleabhar dáilte.
DLT market infrastructures should only admit to trading or record DLT financial instruments on a distributed ledger.
Ós rud é go gcuirfeadh TSS DLT ar chumas gnólachta infheistíochta nó oibreora margaidh seirbhísí socraíochta a sholáthar freisin, agus go gcuirfeadh sé ar chumas CSD seirbhísí trádála a sholáthar freisin, tá sé riachtanach go gcomhlíonfaidh na gnólachtaí infheistíochta nó na hoibreoirí margaidh na ceanglais a bhfuil feidhm acu maidir le SS DLT, agus go gcomhlíonfadh CSDanna na ceanglais a bhfuil feidhm acu maidir le MTF DLT.
Since a DLT TSS would enable an investment firm or market operator also to provide settlement services, and would enable a CSD also to provide trading services, it is necessary that investment firms or market operators also comply with the requirements that apply to a DLT SS, and that CSDs comply with the requirements that apply to a DLT MTF.
Ba cheart oibreoirí TSSanna DLT a bheith in ann na díolúintí céanna atá ar fáil d’oibreoirí MTFanna DLT agus SSanna DLT a iarraidh ar choinníoll go gcomhlíonann siad na coinníollacha a ghabhann leis na díolúintí agus le haon bhearta cúiteacha arna gceangal ag na húdaráis inniúla.
Operators of DLT TSSs should be able to request the same exemptions as those available to operators of DLT MTFs and of DLT SSs, provided that they comply with the conditions attached to the exemptions and with any compensatory measures required by the competent authorities.
Maidir le breithnithe a bhfuil feidhm acu maidir le MTFanna DLT agus SSanna DLT, ba cheart go mbeadh feidhm ag breithnithe cosúil leis na cinn sin maidir le díolúintí atá ar fáil do TSSanna DLT, maidir le haon choinníollacha a ghabhann leis na díolúintí sin, agus maidir le haon bhearta cúiteacha.
Considerations similar to those that apply to DLT MTFs and DLT SSs should apply to the exemptions that are available to DLT TSSs, to any conditions attached to those exemptions, and to compensatory measures.
Chun foráil a dhéanamh do sholúbthacht bhreise i gcur i bhfeidhm ceanglas áirithe de Rialachán (AE) Uimh. 909/2014 maidir le gnólachtaí infheistíochta nó oibreoirí margaidh a bhfuil TSS DLT á oibriú acu agus ag an am céanna cothrom na Féinne a áirithiú ina soláthraíonn CSDanna seirbhísí socraíochta faoin gcóras píolótach, ba cheart díolúintí áirithe ó cheanglais an Rialacháin a mhéid a bhaineann le bearta chun teipeanna socraíochta a chosc agus aghaidh a thabhairt orthu, ceanglais maidir le rannpháirtíocht, trédhearcacht, agus ó cheanglais maidir le nósanna imeachta cumarsáide áirithe a úsáid le rannpháirtithe agus bonneagair eile mhargaidh a bheith ar fáil do CSDanna a bhfuil SS DLT nó TSS DLT á oibriú acu, agus do ghnólachtaí infheistíochta nó oibreoirí ag a bhfuil TSS DLT á oibriú acu.
In order to provide for additional flexibility in the application of certain requirements of Regulation (EU) No 909/2014 to investment firms or market operators operating a DLT TSS while ensuring a level playing field with CSDs providing settlement services under the pilot regime, certain exemptions from the requirements of that Regulation concerning measures to prevent and address settlement fails, from requirements for participation and transparency, and from requirements to use certain communication procedures with participants and other market infrastructures, should be available to CSDs operating a DLT SS or a DLT TSS, and to investment firms or market operators operating a DLT TSS.
Ba cheart oibreoirí bhonneagair mhargaidh DLT a bheith faoi dhliteanas i gcás caillteanas cistí, comhthaobhachta nó ionstraim airgeadais DLT.
Operators of DLT market infrastructures should be liable in the case of a loss of funds, of collateral or of a DLT financial instrument.
Go háirithe, chun aon riosca don chobhsaíocht airgeadais a sheachaint, ba cheart margadhluach comhiomlán ionstraimí airgeadais DLT a ligtear isteach chun a dtrádála ar bhonneagar margaidh DLT nó a thaifeadtar ar bhonneagar margaidh DLT a bheith teoranta.
In particular, to avoid any risk to financial stability, the aggregate market value of DLT financial instruments admitted to trading or recorded on a DLT market infrastructure should be limited.
Chun go mbeifear níos gaire do chothroime iomaíochta a bhaint amach i gcás ionstraimí airgeadais a ligtear isteach chun a dtrádála ar ionaid trádála traidisiúnta de réir bhrí Threoir 2014/65/AE agus chun a áirithiú go mbeidh ardleibhéil cosanta infheisteoirí, sláine an mhargaidh agus cobhsaíochta airgeadais ann, ba cheart ionstraimí airgeadais DLT a ligtear isteach chun a dtrádála ar MTF DLT nó ar TSS DLT a bheith faoi réir na bhforálacha lena dtoirmisctear drochúsáid margaidh i Rialachán (AE) Uimh. 596/2014.
In order to move closer to a level playing field for financial instruments admitted to trading on traditional trading venues within the meaning of Directive 2014/65/EU and in order to ensure high levels of investor protection, market integrity and financial stability, DLT financial instruments admitted to trading on a DLT MTF or on a DLT TSS should be subject to the provisions prohibiting market abuse under Regulation (EU) No 596/2014.
Ba cheart d’oibreoir an bhonneagair margaidh DLT íoc as na costais a bhaineann leis an iniúchadh.
The costs of the audit should be borne by the operator of the DLT market infrastructure.
Ba cheart do bhonneagair margaidh DLT cistí cliant agus ionstraimí airgeadais DLT, agus na modhanna rochtana ar na sócmhainní sin, a leithscaradh óna sócmhainní féin nó ó shócmhainní cliant eile.
DLT market infrastructures should segregate clients’ funds and DLT financial instruments, and the means of access to such assets, from their own assets or from other clients’ assets.
Tá tábhacht ar leith ag baint leis sin maidir le hionstraimí airgeadais DLT a thaifeadadh.
That is of particular importance for the recording of DLT financial instruments.
An t-údarás inniúil a dhéanann scrúdú ar iarratas arna chur isteach ag oibreoir bhonneagar margaidh DLT ba cheart an fhéidearthacht a bheith aige diúltú cead sonrach a dheonú más rud é go bhfuil cúiseanna ann lena chreidiúint nach mbeadh bonneagar margaidh DLT in ann na forálacha is infheidhme a leagtar síos le dlí an Aontais nó le forálacha an dlí náisiúnta atá lasmuigh de raon feidhme dhlí an Aontais a chomhlíonadh, má tá cúiseanna ann lena chreidiúint gur baol é an bonneagar margaidh DLT do chosaint infheisteoirí, sláine an mhargaidh nó cobhsaíocht airgeadais, nó más iarracht é an t-iarratas teacht timpeall ar cheanglais atá ann cheana.
The competent authority that examines an application submitted by an operator of a DLT market infrastructure should have the possibility of refusing to grant a specific permission if there are reasons to believe that the DLT market infrastructure would not be able to comply with applicable provisions laid down by Union law or with provisions of national law falling outside the scope of Union law, if there are reasons to believe that the DLT market infrastructure would pose a risk to investor protection, market integrity or financial stability, or if the application is an attempt to circumvent existing requirements.
Ba cheart a chur in iúl sa chead sonrach arna thabhairt ag údarás inniúil d’oibreoir bhonneagar margaidh DLT na díolúintí a deonaíodh don bhonneagar margaidh DLT sin.
A specific permission granted by a competent authority to an operator of DLT market infrastructure should indicate the exemptions granted to that DLT market infrastructure.
Ba cheart d’oibreoirí na mbonneagar margaidh DLT tuarascálacha rialta a thabhairt dá n-údaráis inniúla.
Operators of DLT market infrastructures should submit regular reports to their competent authorities.
Bheadh sé neamh-inmhianaithe dá mbeadh dhá chóras chomhthreomhara ann maidir le bonneagair mhargaidh bunaithe ar DLT agus bonneagair mhargaidh nach bhfuil bunaithe ar DLT.
It would not be desirable to have two parallel regimes for DLT-based and non-DLT-based market infrastructures.
D’fhéadfadh sé go mbeadh próiseáil sonraí pearsanta i gceist le hoibriú bhonneagair margaidh DLT.
The operation of DLT market infrastructures could involve the processing of personal data.
bonneagair mhargaidh DLT a oibriú;
operating DLT market infrastructures;
maoirseacht a dhéanamh ar bhonneagair margaidh DLT; agus
supervising DLT market infrastructures; and
ciallaíonn “teicneolaíocht mórleabhar dáilte” nó “DLT” teicneolaíocht lena gcumasaítear oibriú agus úsáid mórleabhar dáilte;
‘distributed ledger technology’ or ‘DLT’ means a technology that enables the operation and use of distributed ledgers;
Teorainneacha le hionstraimí airgeadais a ligtear isteach chun a dtrádála ar bhonneagar margaidh DLT nó a thaifeadtar ar bhonneagar margaidh DLT
Limitations on the financial instruments admitted to trading or recorded on DLT market infrastructure
Ríomhfar an meán míosúil sin mar mheán phraghsanna scoir laethúla gach ionstraime airgeadais DLT, iolraithe faoi líon ionstraimí airgeadais DLT a thrádálfar nó a thaifeadfar ar bhonneagar margaidh DLT den sórt sin leis an Uimhir Aitheantais Urrús Idirnáisiúnta (ISIN) céanna.
That monthly average shall be calculated as the average of the daily closing prices of each DLT financial instrument, multiplied by the number of DLT financial instruments that are traded or recorded on that DLT market infrastructure with the same International Securities Identification Number (ISIN).
Bainfidh oibreoir bhonneagar margaidh DLT úsáid as an meán míosúil sin sna cásanna seo a leanas:
The operator of the DLT market infrastructure shall use that monthly average:
agus measúnú á dhéanamh i dtaobh an mbeadh ligean isteach chun trádála d’ionstraim airgeadais nua DLT nó taifeadadh d’ionstraim airgeadais nua DLT an mhí dár gcionn ina shiocair le margadhluach comhiomlán na n-ionstraimí airgeadais DLT an tairseach dá dtagraítear i mír 2 den Airteagal seo a shroicheadh; agus
when assessing whether the admission to trading or recording of a new DLT financial instrument in the following month would result in the aggregate market value of DLT financial instruments reaching the threshold referred to in paragraph 2 of this Article; and
Déanfaidh oibreoir bhonneagar margaidh DLT tuarascálacha míosúla a chur faoi bhráid a údaráis inniúil lena léireofar nach sáraíonn hionstraimí airgeadais DLT a ligfear isteach chun trádála nó a thaifeadtar ar bhonneagar mhargadh DLT na tairseacha a leagtar amach i mír 2 agus mír 3.
The operator of a DLT market infrastructure shall submit monthly reports to its competent authority demonstrating that all DLT financial instruments that are admitted to trading or recorded on the DLT market infrastructure do not exceed the thresholds set out in paragraphs 2 and 3.
Tá feidhm ag Rialachán (AE) Uimh. 596/2014 maidir le hionstraimí airgeadais DLT a ligtear isteach chun a dtrádála ar MTF DLT nó ar TSS DLT.
Regulation (EU) No 596/2014 applies to DLT financial instruments admitted to trading on a DLT MTF or on a DLT TSS.
Ceanglais agus díolúintí maidir le MTFanna DLT
Requirements and exemptions regarding DLT MTFs
nach cruthaitheoirí margaidh iad ar MTF DLT;
they are not market makers on the DLT MTF;
nach mbaineann siad úsáid as teicníc trádála algartamaí ar MTF DLT;
they do not use a high-frequency algorithmic trading technique on the DLT MTF;
nach ndéanann siad rochtain dhíreach leictreonach ar MTF DLT a chur ar fáil do dhaoine eile;
they do not provide other persons with direct electronic access to the DLT MTF;
go bhfuil toiliú feasach tugtha acu i leith trádáil a dhéanamh ar MTF DLT mar chomhaltaí nó mar rannpháirtithe agus go ndearna MTF DLT iad a chur ar an eolas faoi na rioscaí ionchasacha a bhaineann lena córais a úsáid chun ionstraimí airgeadais DLT a thrádáil.
they have given informed consent to trading on the DLT MTF as members or participants and have been informed by the DLT MTF of the potential risks of using its systems to trade DLT financial instruments.