trading system

Uses as of 25/11/2018

Definitions over time (1)

20/04/2017 – today applies on 25/11/2018 Article 2, Commission Delegated Regulation (EU) 2017/575 Scope: Whole act

For the purposes of this Regulation, the following definitions shall apply:

trading system means the way in which an execution venue executes orders as continuous auction order book, continuous quote driven, request for quote, periodic auction or any hybrid system falling into two or more of these categories or into a system where the price determination process is of a different nature than that applicable to the types of system set out above;