high-frequency algorithmic trading technique

Definitions over time (2)

31/12/2019 – today applies on 11/11/2026 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act

For the purposes of this Directive, the following definitions apply:

‘high-frequency algorithmic trading technique’ means an algorithmic trading technique characterised by: infrastructure intended to minimise network and other types of latencies, including at least one of the following facilities for algorithmic order entry: co-location, proximity hosting or high-speed direct electronic access; system-determination of order initiation, generation, routing or execution without human intervention for individual trades or orders; and high message intraday rates which constitute orders, quotes or cancellations;
17/09/2014 – 01/07/2016 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act

For the purposes of this Directive, the following definitions apply:

‘high-frequency algorithmic trading technique’ means an algorithmic trading technique characterised by: infrastructure intended to minimise network and other types of latencies, including at least one of the following facilities for algorithmic order entry: co-location, proximity hosting or high-speed direct electronic access; system-determination of order initiation, generation, routing or execution without human intervention for individual trades or orders; and high message intraday rates which constitute orders, quotes or cancellations;

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