+Article 4 4

Article 4 4

4.   Where an operator of a DLT MTF requests an exemption under paragraph 2 or 3, it shall demonstrate that the exemption requested is:

(a)

proportionate to, and justified by, the use of distributed ledger technology; and

(b)

limited to the DLT MTF and does not extend to any other multilateral trading facility operated by that operator.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards