{"title":"欧洲DLT市场基础设施试点制度:在创新、投资者保护和金融稳定之间找到平衡","authors":"Randy Priem","doi":"10.2139/ssrn.3919484","DOIUrl":null,"url":null,"abstract":"This article discusses the European Commission’s proposal for a pilot regime for market infrastructures to experiment with the distributed ledger technology (DLT). In this respect, the article comments on the purpose, scope, requirements, and attention points for market operators, investment firms, and central securities depositories (CSDs) that are considering using this technology.The proposed requirements aim to provide legal certainty, ensure investor protection, support innovation, and protect financial stability. The European Commission attempt to reach these goals by establishing uniform requirements for DLT market infrastructures. This article advocates, however, that a level playing field between the various market participants using the technology should be warranted.","PeriodicalId":20999,"journal":{"name":"Regulation of Financial Institutions eJournal","volume":"32 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2021-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"A European DLT Pilot Regime for Market Infrastructures: Finding a Balance Between Innovation, Investor Protection, and Financial Stability\",\"authors\":\"Randy Priem\",\"doi\":\"10.2139/ssrn.3919484\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article discusses the European Commission’s proposal for a pilot regime for market infrastructures to experiment with the distributed ledger technology (DLT). In this respect, the article comments on the purpose, scope, requirements, and attention points for market operators, investment firms, and central securities depositories (CSDs) that are considering using this technology.The proposed requirements aim to provide legal certainty, ensure investor protection, support innovation, and protect financial stability. The European Commission attempt to reach these goals by establishing uniform requirements for DLT market infrastructures. This article advocates, however, that a level playing field between the various market participants using the technology should be warranted.\",\"PeriodicalId\":20999,\"journal\":{\"name\":\"Regulation of Financial Institutions eJournal\",\"volume\":\"32 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-09-08\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Regulation of Financial Institutions eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3919484\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Regulation of Financial Institutions eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3919484","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
A European DLT Pilot Regime for Market Infrastructures: Finding a Balance Between Innovation, Investor Protection, and Financial Stability
This article discusses the European Commission’s proposal for a pilot regime for market infrastructures to experiment with the distributed ledger technology (DLT). In this respect, the article comments on the purpose, scope, requirements, and attention points for market operators, investment firms, and central securities depositories (CSDs) that are considering using this technology.The proposed requirements aim to provide legal certainty, ensure investor protection, support innovation, and protect financial stability. The European Commission attempt to reach these goals by establishing uniform requirements for DLT market infrastructures. This article advocates, however, that a level playing field between the various market participants using the technology should be warranted.