Participant Docs

Description of roles and responsiblities for different participant in the 21X ecosystem

The 21X DLT Trading and Settlement System (DLT-TSS) is a regulated market infrastructure that enables the issuance, trading, and settlement of DLT Financial Instruments in an integrated environment. It combines the functionality of a DLT Multilateral Trading Facility (DLT-MTF) and a DLT Settlement System (DLT-SS).

Participants in the ecosystem perform distinct roles across the lifecycle of instruments—from issuance and admission to trading, through trading and liquidity provision, to settlement.

Participant categories

• Issuers

• Listing Sponsors

• Trade Participants

• Orderflow Providers

• Market Makers & Liquidity Providers

• Stablecoin Issuers