Commission Delegated Regulation (EU) 2017/565 Article 18

Algorithmic trading

Article 18

For the purposes of further specifying the definition of algorithmic trading in accordance with Article 4(1)(39) of Directive 2014/65/EU, a system shall be considered as having no or limited human intervention where, for any order or quote generation process or any process to optimise order-execution, an automated system makes decisions at any of the stages of initiating, generating, routing or executing orders or quotes according to pre-determined parameters.

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CitationArticle 18 of Commission Delegated Regulation (EU) 2017/565 (LawPlayer, data as of 2026-07-04)

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