Retained EU Law SI 2017/584 United Kingdom

Commission Delegated Regulation (EU) 2017/584 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying organisational requirements of trading venues (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm22

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Financial Services Firm — also bound by 167 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art002 Self-assessments of compliance with Article 48 of Directive 2014/65/EU(Article 48 of Directive 2014/65/EU) Regulated
  • Conduct annual self-assessments of compliance with trading venue rules and keep recordsFinancial Services Firm
s.art003 Governance of trading venues(Article 48(1) of Directive 2014/65/EU) Regulated
  • Set up clear governance for your trading systemsFinancial Services Firm
s.art004 Compliance function within the governance arrangements(Article 48(1) of Directive 2014/65/EU) Regulated
  • Ensure compliance function oversees algorithmic trading obligationsFinancial Services Firm
s.art005 Staffing(Article 48(1) of Directive 2014/65/EU) Regulated
  • Employ sufficient skilled staff to manage algorithmic trading systemsFinancial Services Firm
s.art006 Outsourcing and procurement(Article 48(1) of Directive 2014/65/EU) Regulated
  • Manage outsourcing of algorithmic trading systems operationsFinancial Services Firm
s.art007 Due diligence for members of trading venues(Article 48(1) of Directive 2014/65/EU) Regulated
  • Set conditions for members' electronic order submission and conduct due diligenceFinancial Services Firm
s.art008 Testing of the trading systems(Article 48(1) of Directive 2014/65/EU) Regulated
  • Test trading systems before deploying or updating themFinancial Services Firm
s.art009 Conformance testing(Article 48(6) of Directive 2014/65/EU) Regulated
  • Ensure conformance testing for members' systems and algorithmsFinancial Services Firm
s.art010 Testing the members' algorithms to avoid disorderly trading conditions(Article 48(6) of Directive 2014/65/EU) Regulated
  • Provide algorithm testing and environment for membersFinancial Services Firm
s.art011 Trading venues' capacity(Article 48(1) of Directive 2014/65/EU) Regulated
  • Ensure trading systems have sufficient capacity and manage capacity risksFinancial Services Firm
s.art012 General monitoring obligations(Article 48(1) of Directive 2014/65/EU) Regulated
  • Monitor algorithmic trading systems in real-time and ensure robustnessFinancial Services Firm
s.art013 Ongoing monitoring(Article 48(1) of Directive 2014/65/EU) Regulated
  • Monitor trading system performance in real time and address issues promptlyFinancial Services Firm
s.art014 Periodic review of the performance and capacity of the algorithmic trading systems(Article 48(1) of Directive 2014/65/EU) Regulated
  • Periodically review performance and capacity of algorithmic trading systemsFinancial Services Firm
s.art015 Business continuity arrangements(Article 48(1) of Directive 2014/65/EU) Regulated
  • Demonstrate system stability and resume trading within 2 hours of disruptionFinancial Services Firm
s.art016 Business continuity plan(Article 48(1) of Directive 2014/65/EU) Regulated
  • Create and maintain a business continuity plan for your trading venueFinancial Services Firm
s.art017 Periodic review of business continuity arrangements(Article 48(1) of Directive 2014/65/EU) Regulated
  • Test and review your business continuity arrangements regularlyFinancial Services Firm
s.art018 Prevention of disorderly trading conditions(Article 48(4), (5) and (6) of Directive 2014/65/EU) Regulated
  • Implement arrangements to prevent disorderly tradingFinancial Services Firm
s.art019 Mechanisms to manage volatility(Article 48(5) of Directive 2014/65/EU) Regulated
  • Keep volatility management mechanisms running and tested at all timesFinancial Services Firm
s.art020 Pre-trade and post-trade controls(Article 48(4) and (6) of Directive 2014/65/EU) Regulated
  • Implement pre-trade controls for all financial instruments traded on your venueFinancial Services Firm
s.art021 Pre-determination of the conditions to provide direct electronic access(Article 48(7) of Directive 2014/65/EU) Regulated
  • Publish rules for direct electronic access (DEA)Financial Services Firm
s.art022 Specific requirements for trading venues permitting sponsored access(Article 48(7) of Directive 2014/65/EU) Regulated
  • Control and monitor sponsored access to your trading venueFinancial Services Firm
s.art023 Security and limits to access(Article 48(1) of Directive 2014/65/EU) Regulated
  • Implement security measures to protect trading systems and dataFinancial Services Firm
3 other provisions — procedural and definitional
s.annex para.1 Nature of the trading venue, in terms of: types and...
s.art001 Subject matter and scope(Article 48 of Directive 2014/65/EU)
s.art024 Entry into force

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.