In this act Article 8 of 22
Article 8 — Testing and capacity
Financial servicesLevel 2RTSMiFID IIIn forceOfficial source
1.A data reporting services provider shall implement clearly delineated development and testing methodologies, ensuring that:
2.A data reporting services provider shall also use the methodologies referred to in paragraph 1 prior to and following the deployment of any updates of the IT systems.
3.A data reporting services provider shall promptly notify the competent authority of its home Member State of any planned significant changes to the IT system prior to their implementation.
4.In the case of ARMs, the notifications referred to in paragraph 3 shall also be made to any competent authority to whom the ARM submits transaction reports.
5.A data reporting services provider shall set up an on-going programme for periodically reviewing and, where needed, modifying the development and testing methodologies.
6.A data reporting services provider shall run stress tests periodically at least on an annual basis. A data reporting services provider shall include in the adverse scenarios of the stress test unexpected behaviour of critical constituent elements of its systems and communication lines. The stress testing shall identify how hardware, software and communications respond to potential threats, specifying systems unable to cope with the adverse scenarios. A data reporting services provider shall take measures to address identified shortcomings in those systems.