Investment firms can apply to their national supervisory authorities for DPE status in accordance with Article 21a (1) of the Markets in Financial Instruments Regulation (MiFIR). This voluntary status allows transactions to be published via an approved publication arrangement (APA) without having to assume the status and obligations of a systematic internalizer (SI). The national supervisory authority grants DPE status for certain asset classes.

DPEs must also submit certain reference data for OTC derivatives to the European Securities and Market Authority (ESMA). This is regulated in Article 27 (1) subparagraph 3 MiFIR. ESMA maintains a public DPE register for the information of market participants.

Transition period

ESMA will set up a transitional register for DPEs here by September 29, 2024 at the latest. This register will later be integrated into ESMA's existing IT register structure.

A transitional phase until February 3, 2025 will allow market participants to adapt their systems and processes. DPEs will only have to comply with their obligations from this date. This includes, in particular, the publication of transactions in accordance with Article 20 (1) and Article 21 (1) MiFIR. Until then, the old system with reporting by SIs will apply.

Notification

Investment firms can now apply to BaFin for DPE status for certain asset classes. It provides a form for this purpose here.

A valid Legal Entity Identifier Code (LEI) is required for entry in the ESMA register. The form can also be used to waive a granted DPE status or to extend it to other asset classes. Notifications are possible on an ongoing basis.
Please send a scan copy of the signed form by e-mail to secondarymarkets@bafin.de. It is not necessary to send it physically. You will receive a confirmation of receipt. Please note: Entry in the ESMA register may take a few days for system-related reasons.