RTS · European Commission
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
RTS 7 on organisational requirements of trading venues that permit or enable algorithmic trading: covers governance, compliance, staffing and outsourcing, member due diligence, conformance and algorithm testing, capacity, monitoring, business continuity, volatility mechanisms, pre- and post-trade controls, and conditions for direct electronic and sponsored access.
Details
| Reference | Delegated Regulation (EU) 2017/584 |
|---|---|
| Issuer | European Commission |
| Published | 31 Mar 2017 |
| CELEX | 32017R0584 |
| In force / applies from | 20 Apr 2017, 3 Jan 2018 |
Provisions it relates to
- Article 48 MiFID II · Systems resilience, circuit breakers and electronic tradingLegal basis
UK version: UK Delegated Regulation (EU) 2017/584.
Documents that refer to it
- Q&AAnsweredExplicit reference · 90%
AI summaryRTS 7 applies to any trading venue where order submission and matching are facilitated electronically, including RFQ systems without auto-matching and venues that prohibit algorithmic trading, though some organisational requirements may be applied proportionately to such trading models.
- Q&AAnsweredExplicit reference
AI summaryOnly Tier 1 DEA clients, who obtain the use of a member's trading code directly, have direct electronic access and so lose the own-account dealing exemption in Article 2(1)(d) MiFID II; Tier 2 clients using sub-delegated access do not hold the code and can still rely on the exemption.
- Q&AAnsweredExplicit reference
AI summaryA DEA provider's checks and controls under Article 17(5) MiFID II and RTS 6 apply to all clients, whether or not authorised EU firms, and it stays responsible for sub-delegated clients; it must be able to obtain all information the venue's authority needs and must be able to suspend access.
FCA Handbook
Handbook provisions whose source note cites it:
- MAR 5.3A.2R · Systems and controls
- MAR 5A.5.2R · Systems and controls
- REC 2.2.4G · Outsourcing
- REC 2.2.6G · Outsourcing
- REC 2.2.7G · Outsourcing
- REC 2.5.1UK · Schedule to the Recognition Requirements Regulations, paragraphs 3 – 3H
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