In this act Article 14 of 29
Article 14 — Business continuity arrangements (Article 17(1) of Directive 2014/65/EU)
Financial servicesLevel 2RTSMiFID IIIn forceOfficial source
14(1)Copy link
1.An investment firm shall have business continuity arrangements in place for its algorithmic trading systems which are appropriate to the nature, scale and complexity of its business. Those arrangements shall be documented in a durable medium.
14(2)Copy link
2.Business continuity arrangements of an investment firm shall effectively deal with disruptive incidents and, where appropriate, ensure a timely resumption of the algorithmic trading. Those arrangements shall be adapted to the trading systems of each of the trading venue accessed and shall include the following:
14(2)(a)
(a)a governance framework for the development and of the deployment of the business continuity arrangement;
Copy link14(2)(b)
(b)a range of possible adverse scenarios relating to the operation of the algorithmic trading systems, including the unavailability of systems, staff, work space, external suppliers or data centres or loss or alteration of critical data and documents;
Copy link14(2)(c)
(c)procedures for relocating the trading system to a back-up site and operating the trading system from that site, where having such a site is appropriate to the nature, scale and complexity of the algorithmic trading activities of the investment firm;
Copy link14(2)(f)
(f)arrangements for shutting down the relevant trading algorithm or trading system where appropriate;
Copy link14(2)(g)
(g)alternative arrangements for the investment firm to manage outstanding orders and positions.
Copy link