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---
title: "ESMA Q&A 1492 — Q&A — Direct Electronic Access (DEA) and algorithmic trading [Answer Published]"
shortTitle: "ESMA Q&A 1492 — Q&A — Direct Electronic Access (DEA) and algorithmic trading [Answer Published]"
answer_id: ESMA_QA_1492
topic: "Direct Electronic Access and algorithmic trading"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
binding: false
binding_character: non_binding
legal_status: in_force
regulation: "MiFID II"
mifid_level3: true
mica_level2: false
legal_basis: "MiFID II"
date: 23 September 2022
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1492
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 23 September 2022"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1492"
check_status: matched
verified: true
last_checked: 2026-10-26
checked_against: "the ESMA publication"
source:
  prepared_by: "ESMA"
  published_by: "ESMA"
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  evidence:
    prepared_by: "ESMA Answer"
    locator: "ESMA Q&A entry ESMA_QA_1492: field 'ESMA Answer', no 'Answer provided by' line"
document_type: "qa_answer"
legal_nature: "not_legislation"
addressees: "not stated in the document"
dates:
  published_on: "2022-09-23"
  question_submitted_on: "2022-09-23"
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    published_on: "ESMA Q&A Excel export ESMA_QA_1492, column 'Esma responses', date line"
    question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1492, column 'Date of submission'"
lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 23 Sep 2022 [Answer Published]**

*Answer Published · ESMA Q&A register, 23 September 2022 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1492)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1492 — Q&A — Direct Electronic Access (DEA) and algorithmic trading \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1492 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 23 September 2022; question submitted 23 September 2022 |
| **Legal basis** | MiFID II |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Direct Electronic Access (DEA) and algorithmic trading - Trading venues**

### Question

Can trading venues set specific trading hours which are applicable only to a sub-set of financial instruments (or to a specific financial instrument)?

***

### Answer

\[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 3.35\]

Yes, a trading venue may set instrument-level trading hours for a specific sub-set of financial instruments (or for a specific financial instrument), provided that such specific trading hours (and the instruments to which they apply) are made public and communicated by the venue to market participants.

As an example, trading venues may set specific trading hours based on the trading hours of the underlying market (where applicable) to facilitate liquidity provisions by market makers.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1492)