Traduction de «ordre de retrait négociable » (Français → Anglais) :

If, in the course of this year, we can find other areas for voluntary liberalization which can be pushed into the WTO sphere, particularly since it is likely that in the next two years we will be moving into some new negotiations and, by the end of the century, will be resuming agriculture and services negotiations, then that will be something that APEC can do.

We remain committed and I think I can speak for all national joint council of unions in this case, as well as the retirees to negotiating something on the surplus.

Arrangements where the client of a member or participant of a trading venue, including the client of a direct clients of organised trading facilities (OTFs), submit their orders through arrangements for optimisation of order execution processes that determine parameters of the order other than the venue or venues where the order should be submitted through SORs embedded into the provider's infrastructure and not on the client's infrastructure should be excluded from the scope of direct electronic access since the client of the provider does not have control over the time of submission of the order and its lifetime.

(39)‘algorithmic trading’ means trading in financial instruments where a computer algorithm automatically determines individual parameters of orders such as whether to initiate the order, the timing, price or quantity of the order or how to manage the order after its submission, with limited or no human intervention, and does not include any system that is only used for the purpose of routing orders to one or more trading venues or for the processing of orders involving no determination of any trading parameters or for the confirmation of orders or the post-trade processing of executed transactions.

6. Member States shall require a regulated market to have in place effective systems, procedures and arrangements, including requiring members or participants to carry out appropriate testing of algorithms and providing environments to facilitate such testing, to ensure that algorithmic trading systems cannot create or contribute to disorderly trading conditions on the market and to manage any disorderly trading conditions which do arise from such algorithmic trading systems, including systems to limit the ratio of unexecuted orders to transactions that may be entered into the system by a member or participant, to be able to slow down th ...[+++]e flow of orders if there is a risk of its system capacity being reached and to limit and enforce the minimum tick size that may be executed on the market.

No, but the Implementing Regulation establishes a set of components (or data fields) which will be common to all the records or reports required by MiFID (with regard to record keeping of orders, post-trade transparency, record keeping of transactions, and transaction reporting to clients and the authorities) (Annex I Implementing Regulation).