Börse Stuttgart Group has become the first exchange operator in Europe to obtain the DLT Trading and Settlement System (TSS) licence under the bloc’s DLT Pilot Regime. The DLT TSS will allow Seturion, the group’s digital settlement platform for tokenised assets, to operate as a pan-European digital settlement platform.
The licence was granted by BaFin, German’s Federal Financial Supervisory Authority, after a licensing process carried out by the European Securities and Markets Authority (ESMA) and the European Central Bank (ECB).
Börse Stuttgart revealed in a press release that its plan is to transform Seturion into “a digital asset platform that is open to banks, brokers, and trading venues across Europe” and to “contribute to an efficient capital market, in full alignment with European regulation”. The move is considered a stepping stone to solving Europe’s fragmentation – by connecting trading venues across markets, transactions can be completed without each venue acquiring its own DLT licence.
