The UK's Financial Conduct Authority (FCA) opened the Digital Securities Sandbox (DSS) for applications at the end of September, relaxing certain rules for DLT market infrastructure. The two entities that have currently been announced to have received preliminary approval are the (expected) Central Securities Depository (CSD) Montis (owned by Archax) and ClearToken, the latter of which plans to operate as a central clearinghouse for crypto and tokenized assets. ClearToken has received support from companies such as Nomura Securities' Laser Digital and Standard Chartered's Zodia Custody. Similar to the EU's DLT pilot regime, the DSS plans to relax the requirement that exchanges and central securities depositories must always be separated (which can sometimes be impractical for DLT).