diff --git a/freqtrade/plugins/pairlist/ProducerPairList.py b/freqtrade/plugins/pairlist/ProducerPairList.py
index dc575f29b..fa351c9cc 100644
--- a/freqtrade/plugins/pairlist/ProducerPairList.py
+++ b/freqtrade/plugins/pairlist/ProducerPairList.py
@@ -6,6 +6,7 @@ Provides pair list from Leader data
 import logging
 from typing import Any, Dict, List, Optional
 
+from freqtrade.exceptions import OperationalException
 from freqtrade.plugins.pairlist.IPairList import IPairList
 
 
@@ -34,8 +35,9 @@ class ProducerPairList(IPairList):
 
         self._num_assets: int = self._pairlistconfig.get('number_assets', 0)
         self._producer_name = self._pairlistconfig.get('producer_name', 'default')
-        if config.get('external_message_consumer', {}).get('enabled') is False:
-            raise ValueError("ProducerPairList requires external_message_consumer to be enabled.")
+        if not config.get('external_message_consumer', {}).get('enabled'):
+            raise OperationalException(
+                "ProducerPairList requires external_message_consumer to be enabled.")
 
     @property
     def needstickers(self) -> bool:
diff --git a/tests/conftest.py b/tests/conftest.py
index 51b1b03e3..a9eeb481e 100644
--- a/tests/conftest.py
+++ b/tests/conftest.py
@@ -200,6 +200,8 @@ def patch_freqtradebot(mocker, config) -> None:
     mocker.patch('freqtrade.freqtradebot.RPCManager._init', MagicMock())
     mocker.patch('freqtrade.freqtradebot.RPCManager.send_msg', MagicMock())
     patch_whitelist(mocker, config)
+    mocker.patch('freqtrade.freqtradebot.ExternalMessageConsumer')
+    mocker.patch('freqtrade.configuration.config_validation._validate_consumers')
 
 
 def get_patched_freqtradebot(mocker, config) -> FreqtradeBot:
diff --git a/tests/plugins/test_pairlist.py b/tests/plugins/test_pairlist.py
index 26b7ebbe2..a6b5813da 100644
--- a/tests/plugins/test_pairlist.py
+++ b/tests/plugins/test_pairlist.py
@@ -9,6 +9,7 @@ import pytest
 import time_machine
 
 from freqtrade.constants import AVAILABLE_PAIRLISTS
+from freqtrade.data.dataprovider import DataProvider
 from freqtrade.enums import CandleType, RunMode
 from freqtrade.exceptions import OperationalException
 from freqtrade.persistence import Trade
@@ -40,6 +41,12 @@ def whitelist_conf(default_conf):
             "sort_key": "quoteVolume",
         },
     ]
+    default_conf.update({
+        "external_message_consumer": {
+            "enabled": True,
+            "producers": [],
+        }
+    })
     return default_conf
 
 
@@ -1167,6 +1174,10 @@ def test_spreadfilter_invalid_data(mocker, default_conf, markets, tickers, caplo
      "[{'OffsetFilter': 'OffsetFilter - Taking 10 Pairs, starting from 5.'}]",
      None
      ),
+    ({"method": "ProducerPairList"},
+     "[{'ProducerPairList': 'ProducerPairList - default'}]",
+     None
+     ),
 ])
 def test_pricefilter_desc(mocker, whitelist_conf, markets, pairlistconfig,
                           desc_expected, exception_expected):
@@ -1341,3 +1352,64 @@ def test_expand_pairlist_keep_invalid(wildcardlist, pairs, expected):
             expand_pairlist(wildcardlist, pairs, keep_invalid=True)
     else:
         assert sorted(expand_pairlist(wildcardlist, pairs, keep_invalid=True)) == sorted(expected)
+
+
+def test_ProducerPairlist_no_emc(mocker, whitelist_conf):
+    mocker.patch('freqtrade.exchange.Exchange.exchange_has', MagicMock(return_value=True))
+
+    whitelist_conf['pairlists'] = [
+        {
+            "method": "ProducerPairList",
+            "number_assets": 10,
+            "producer_name": "hello_world",
+        }
+    ]
+    del whitelist_conf['external_message_consumer']
+
+    with pytest.raises(OperationalException,
+                       match=r"ProducerPairList requires external_message_consumer to be enabled."):
+        get_patched_freqtradebot(mocker, whitelist_conf)
+
+
+def test_ProducerPairlist(mocker, whitelist_conf, markets):
+    mocker.patch('freqtrade.exchange.Exchange.exchange_has', MagicMock(return_value=True))
+    mocker.patch.multiple('freqtrade.exchange.Exchange',
+                          markets=PropertyMock(return_value=markets),
+                          exchange_has=MagicMock(return_value=True),
+                          )
+    whitelist_conf['pairlists'] = [
+        {
+            "method": "ProducerPairList",
+            "number_assets": 2,
+            "producer_name": "hello_world",
+        }
+    ]
+    whitelist_conf.update({
+        "external_message_consumer": {
+            "enabled": True,
+            "producers": [
+                {
+                    "name": "hello_world",
+                    "host": "null",
+                    "port": 9891,
+                    "ws_token": "dummy",
+                }
+            ]
+        }
+    })
+
+    exchange = get_patched_exchange(mocker, whitelist_conf)
+    dp = DataProvider(whitelist_conf, exchange, None)
+    pairs = ['ETH/BTC', 'LTC/BTC', 'XRP/BTC']
+    # different producer
+    dp._set_producer_pairs(pairs + ['MEEP/USDT'], 'default')
+    pm = PairListManager(exchange, whitelist_conf, dp)
+    pm.refresh_pairlist()
+    assert pm.whitelist == []
+    # proper producer
+    dp._set_producer_pairs(pairs, 'hello_world')
+    pm.refresh_pairlist()
+
+    # Pairlist reduced to 2
+    assert pm.whitelist == pairs[:2]
+    assert len(pm.whitelist) == 2