Article 3 thresholds
Regulation (EU) 2022/858 limits what a DLT market infrastructure may record. These are the live figures the operator measures itself against.
Status
OK
Aggregate market value
EUR 1,000,000.00 0.0167 percent of the admission cap
Admission cap, Art 3(2)
EUR 6,000,000,000.00
Transition figure, Art 3(3)
EUR 9,000,000,000.00
ECB rate
1.17 USD per EUR, 2026-09-09, OPERATOR
Instruments
| ISIN | Class | Circulating units | Price | Source | Market value (EUR) | Declared basis (EUR) | Class cap (EUR) | Art 3(1) |
|---|---|---|---|---|---|---|---|---|
| EZSANDBOXKB1 | BOND | 1,000,000 | NONE | unpriced | 1,000,000.00 | 1,000,000,000.00 | within cap |
How the figures are made
- Valuation
- closing or opening auction price of the market, else the last trade, else the mark; EUR at the ECB reference rate; an unpriced instrument counts at its declared basis.
- Article 3(1)
- A share is admitted only while its issuer's market capitalisation is below EUR 500,000,000.00, a bond or money-market instrument while its issue size is below EUR 1,000,000,000.00, a fund unit while its assets under management are below EUR 500,000,000.00.
- Article 3(2)
- No new instrument is admitted once the aggregate market value of all recorded instruments reaches the admission cap.
- Article 3(3)
- At the transition figure the operator activates its transition strategy: the register is exported to a receiving infrastructure and the instruments leave the ledger in an orderly way.
- Reporting
- The operator records one valuation per instrument and calendar day and reports the month to its competent authority.