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🔗 Back to Summary. 🇫🇷 French Version: 2017R0584_FR.5. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 4 – Compliance function within the governance arrangements ⬅️ | ➡️ Article 6 – Outsourcing and procurement
Références LVL1 <=> LVL2
Level 1 reference(s): 2014L0065_EN.48 > 1
Article 5 - Staffing
1.
Trading venues shall employ a sufficient number of staff with the necessary skills to manage their algorithmic trading systems and trading algorithms and with sufficient knowledge of:
(a)
the relevant trading systems and algorithms;
(b)
the monitoring and testing of such systems and algorithms;
(c)
the types of trading undertaken by the members, participants or clients of the trading venue (‘members’);
(d)
the trading venue’s legal obligations.
2.
Trading venues shall define the necessary skills referred to in paragraph 1. The staff referred to in paragraph 1 shall have those necessary skills at the time of recruitment or shall acquire them through training after recruitment. The trading venues shall ensure that those staff’s skills remain up-to-date and shall evaluate their skills on a regular basis.
3.
The staff training referred to in paragraph 2 shall be tailored to the experience and responsibilities of the staff, taking into account the nature, scale and complexity of their activities.
4.
The staff referred to in in paragraph 1 shall include staff with sufficient seniority to perform their functions effectively within the trading venue.