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🔗 Back to Summary. 🇫🇷 French Version: 2017R0583_FR.1. Back to Summary of LVL1. Direct link to EUR-LEX.
Retour au sommaire ⬅️ | ➡️ Article 1a – Scope of application of Articles 3, 6, 8, 9, 10, 11 and 13
References LVL1 <=> LVL2
Level 1 reference(s): 2014R0600_EN.9 > 5#f
Article 1 - Definitions
For the purposes of this Regulation, the following definitions shall apply:
(1)
‘central limit order book trading system’ means any of the following:
(a)
a continuous order book trading system that by means of an order book and a trading algorithm operated without human intervention matches sell orders with buy orders on the basis of the best available price on a continuous basis;
(b)
a trading system combining elements of a continuous order book trading system, as referred to in point (a), and of a periodic auction trading system, as defined in point (2);
(2)
‘periodic auction trading system’ means a trading system that matches orders on the basis of a periodic auction and a trading algorithm operated without human intervention.