in force 2024-03-28 INSERTED+786 −0§
Amended by Regulation (EU) 2024/791 32024R0791
applies from: unknown (an inserted provision states its own application date only in prose)
Article 22c is a newly added provision requiring trading venues and their members, participants or users, systematic internalisers, designated publishing entities, APAs and CTPs to synchronise the business clocks used to record the date and time of any reportable event.
It also directs ESMA to develop draft regulatory technical standards specifying the level of accuracy for such synchronisation, in accordance with international standards, and to submit them to the Commission by 29 December 2024, with power delegated to the Commission to adopt those standards under Articles 10 to 14 of Regulation (EU) No 1095/2010.
Cited: Art. 22c, v2
text before / after
inserted text (02014R0600-20240328)
Article 22c Synchronisation of business clocks 1. Trading venues and their members, participants or users, systematic internalisers, designated publishing entities, APAs and CTPs shall synchronise the business clocks they use to record the date and time of any reportable event. 2. ESMA shall, in accordance with international standards, develop draft regulatory technical standards to specify the level of accuracy to which business clocks are to be synchronised. ESMA shall submit those draft regulatory technical standards to the Commission by 29 December 2024. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.