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🔗 Back to Summary. 🇫🇷 French Version: 2017R0589_FR.12. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 11 – Management of material changes ⬅️ | ➡️ Article 13 – Automated surveillance system to detect market manipulation
Références LVL1 <=> LVL2
Level 1 reference(s): 2014L0065_EN.17 > 1
Article 12 - Kill functionality
1.
An investment firm shall be able to cancel immediately, as an emergency measure, any or all of its unexecuted orders submitted to any or all trading venues to which the investment firm is connected (‘kill functionality’).
2.
For the purposes of paragraph 1, unexecuted orders shall include those originating from individual traders, trading desks or, where applicable, clients.
3.
For the purposes of paragraph 1 and 2, an investment firm shall be able to identify which trading algorithm and which trader, trading desk or, where applicable, which client is responsible for each order that has been sent to a trading venue.