Are both of the modalities of issuing DLT financial instruments described below allowed under the DLT Pilot Regulation (DLTPR)?

1) Direct issuance of financial instruments on DLT, whereby financial instruments are initially and directly issued, recorded, transferred and stored using a DLT;

2) Issuance of existing non-DLT financial instruments in the form of DLT financial instruments as described in recital 3 of the DLTPR.

Are other issuance modalities of DLT financial instruments possible under the DLTPR?

Are SFT transactions admissible on a DLT MTF/TSS? In particular, should Article 3(1), point (b), DLTPR, which excludes instruments “that embed a derivative or incorporate a structure which makes it difficult for the client to understand the risk involved” be read as also excluding complex transactions like SFTs?

Article 11 of RTS 15 MiFIR permits a trading venue to charge fees to a CCP in relation to access to the trading venue, which can include fees charged to cover one-off and ongoing costs. Can a trading venue that has already granted access to a CCP be permitted to charge new fees, whether one-off or ongoing, that were not agreed at the time of access, and if so, under which circumstances?

How to disclose cost information (in good time) to a client who places an order via telephone?

How should information in a universal registration document be updated before it is a constituent part of a prospectus?