{
  "url": "https://openlegislation.uk/eu-regulation-2017-574/annex",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-574/annex.json",
  "legislation": "eur/2017/574",
  "legislation_title": "Commission Delegated Regulation (EU) 2017/574 of 7 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the level of accuracy of business clocks (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-574",
  "path": "annex",
  "kind": "annex",
  "number": null,
  "heading": null,
  "text": "Table 1\nLevel of accuracy for operators of trading venues\nGateway-to-gateway latency time of the trading system\nMaximum divergence from UTC\nGranularity of the timestamp\n> 1 millisecond\n1 millisecond\n1 millisecond or better\n≤ 1 millisecond\n100 microseconds\n1 microsecond or better\nTable 2\nLevel of accuracy for members or participants of a trading venue\nCommission Delegated Regulation (EU) 2017/583 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and derivatives (see page 229 of this Official Journal).\nType of trading activity\nDescription\nMaximum divergence from UTC\nGranularity of the timestamp\nActivity using high frequency algorithmic trading technique\nHigh frequency algorithmic trading technique.\n100 microseconds\n1 microsecond or better\nActivity on voice trading systems\nVoice trading systems as defined in Article 5(5) of Commission Delegated Regulation (EU) 2017/583\n1 second\n1 second or better\nActivity on request for quote systems where the response requires human intervention or where the system does not allow algorithmic trading\nRequest for quotes systems as defined in Article 5(4) of Delegated Regulation (EU) 2017/583\n1 second\n1 second or better\nActivity of concluding negotiated transactions\nNegotiated transaction as set out in Article 4(1)(b) of Regulation (EU) No 600/2014.\n1 second\n1 second or better\nAny other trading activity\nAll other trading activity not covered by this table.\n1 millisecond\n1 millisecond or better",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Commission Delegated Regulation (EU) 2017/583 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and derivatives (see page 229 of this Official Journal)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/574/annex",
    "retrieved_at": "2026-11-01T14:45:05.602445+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}