ESMA seeks evidence on tokenized collateral for central counterparties
CIE News ·
On October 9, 2026, ESMA published a call for evidence under EMIR and MiCA on using DLT, e-money tokens, and tokenized HQLA for central counterparty margin requirements.
On October 9, 2026, the European Securities and Markets Authority published an official call for evidence addressing collateral tokenization for central counterparties, according to europa.eu. Conducted under the EMIR and MiCA frameworks, the consultation investigates the use of distributed ledger technology, e-money tokens, and tokenized High-Quality Liquid Assets for initial and variation margin requirements. ESMA is coordinating with the European Central Bank and the European Banking Authority to assess settlement finality risks, custody segregation, and operational resilience under DORA to inform future regulatory technical standards.