Article 5 Staffing(Article 48(1) of Directive 2014/65/EU)

Trading venues shall employ a sufficient number of staff with the necessary skills to manage their algorithmic trading systems and trading algorithms and with sufficient knowledge of:

1. (a)

   the relevant trading systems and algorithms;

2. (b)

   the monitoring and testing of such systems and algorithms;

3. (c)

   the types of trading undertaken by the members, participants or clients of the trading venue ("members");

4. (d)

   the trading venue's legal obligations.

Trading venues shall define the necessary skills referred to in paragraph 1. The staff referred to in paragraph 1 shall have those necessary skills at the time of recruitment or shall acquire them through training after recruitment. The trading venues shall ensure that those staff's skills remain up-to-date and shall evaluate their skills on a regular basis.

The staff training referred to in paragraph 2 shall be tailored to the experience and responsibilities of the staff, taking into account the nature, scale and complexity of their activities.

The staff referred to in in paragraph 1 shall include staff with sufficient seniority to perform their functions effectively within the trading venue.