natgillin/translations-raw huggingface dataset:
Trading venues shall also ensure that compliance staff have, at all times, direct contact with persons who have access to the functionality referred to in Article 18(2)(c) (‘kill functionality’) or access to that kill functionality and to those who are responsible for the algorithmic trading system.
Mesta trgovanja tudi zagotovijo, da imajo zaposleni, odgovorni za spremljanje skladnosti, ves čas neposreden stik z osebami, ki imajo dostop do funkcionalnosti iz člena 18(2)(c) (mehanizem za izklop v sili – kill functionality), ali neposreden dostop do navedenega mehanizma za izklop v sili in z osebami, ki so odgovorne za sistem za algoritemsko trgovanje.
Where the compliance function, or elements thereof, is outsourced to a third party, trading venues shall provide the third party with the same access to information as they would to their own compliance staff.
Kadar funkcijo spremljanja skladnosti ali elemente te funkcije izvaja zunanja tretja oseba, mesta trgovanja zagotovijo tretji osebi enak dostop do informacij kot svojim zaposlenim, odgovornim za spremljanje skladnosti.
Trading venues shall enter into an agreement with such compliance consultants, ensuring that:
Mesta trgovanja sklenejo pogodbo s takšnimi svetovalci za spremljanje skladnosti in zagotovijo, da:
data privacy is guaranteed;
je zagotovljena zasebnost podatkov;
auditing of the compliance function by internal and external auditors or by the competent authority is not hindered.
ni ovirano revidiranje funkcije spremljanja skladnosti, ki ga izvedejo notranji ali zunanji revizorji ali pristojni organ.
Staffing
Kadrovanje
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:
Mesta trgovanja zaposlijo dovolj osebja s spretnostmi, potrebnimi za upravljanje njihovih sistemov za algoritemsko trgovanje in algoritmov za trgovanje ter z zadostnim poznavanjem:
the relevant trading systems and algorithms;
ustreznih sistemov in algoritmov trgovanja;
the monitoring and testing of such systems and algorithms;
spremljanja in preizkušanja takšnih sistemov ter algoritmov;
the types of trading undertaken by the members, participants or clients of the trading venue (‘members’);
vrst trgovanja, ki ga izvajajo člani, udeleženci ali stranke mesta trgovanja (v nadaljnjem besedilu: člani);
the trading venue's legal obligations.
pravnih obveznosti mesta trgovanja.
Trading venues shall define the necessary skills referred to in paragraph 1.
Mesta trgovanja opredelijo potrebne spretnosti iz odstavka 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.
Osebje iz odstavka 1 ima navedene potrebne spretnosti ob zaposlitvi ali jih pridobi z usposabljanjem po zaposlitvi.
The trading venues shall ensure that those staff's skills remain up-to-date and shall evaluate their skills on a regular basis.
Mesta trgovanja zagotovijo, da so navedene spretnosti osebja posodobljene, in jih redno ocenjujejo.
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.
Usposabljanje osebja iz odstavka 2 je zasnovano tako, da se upoštevajo izkušnje in odgovornosti osebja glede na naravo, obseg in zapletenost njihovih dejavnosti.
The staff referred to in in paragraph 1 shall include staff with sufficient seniority to perform their functions effectively within the trading venue.
Osebje iz odstavka 1 vključujejo osebje z dovolj dolgo delovno dobo, da učinkovito izvaja svoje funkcije znotraj mesta trgovanja.
Outsourcing and procurement
Zunanje izvajanje in javno naročanje
Trading venues outsourcing all or part of their operational functions in relation to the systems allowing or enabling algorithmic trading shall ensure that:
Mesta trgovanja, ki v celoti ali delno oddajo v zunanje izvajanje svoje operativne funkcije v zvezi s sistemi, ki dovoljujejo ali omogočajo algoritemsko trgovanje, zagotovijo, da:
the outsourcing agreement exclusively relates to operational functions and does not alter the responsibilities of the senior management and the management body;
se pogodba o zunanjem izvajanju nanaša izključno na operativne funkcije in ne spreminja odgovornosti višjega vodstva in upravljalnega organa;
the relationship and obligations of the trading venue towards its members, competent authorities, or any third parties, such as clients of data feed services are not altered;
se odnos in obveznosti mesta trgovanja do njegovih članov, pristojnih organov ali katere koli tretje osebe, kot so stranke storitev vira podatkov, ne spremenita;
they meet the requirements that they must comply with in order to be authorised in accordance with Title III of Directive 2014/65/EU.
izpolnjujejo zahteve, ki jih morajo izpolnjevati, da dobijo dovoljenje v skladu z naslovom III Direktive 2014/65/EU.
For the purposes of this article, operational functions shall include all direct activities related to the performance and surveillance of the trading systems supporting the following elements:
Za namene tega člena operativne funkcije vključujejo vse neposredne dejavnosti v zvezi z uspešnostjo in nadzorom sistemov trgovanja, ki podpirajo naslednje elemente:
upstream connectivity, order submission capacity, throttling capacities and ability to balance customer order entrance through different gateways;
povezljivost navzgor, zmogljivost oddaje naročila, zmogljivosti regulacije in zmožnost uravnoteženega vstopanja naročil stranke prek različnih prehodov;
trading engine to match orders;
trgovalno orodje za usklajevanje naročil;
downstream connectivity, order and transaction edit and any other type of market data feed;
povezljivost navzdol, urejanje naročil in poslov ter kakršno koli drugo vrsto vira podatkov o trgovanju;
infrastructure to monitor the performance of the elements referred to in points (a), (b) and (c).
infrastrukturo za spremljanje uspešnosti elementov iz točk (a), (b) in (c).
Trading venues shall document the process of selecting the service provider to whom the operational functions are to be outsourced (‘the service provider’).
Mesta trgovanja dokumentirajo postopek izbire ponudnika storitev, kateremu se v zunanje izvajanje oddajo operativne funkcije (v nadaljnjem besedilu: ponudnik storitev).
They shall take the necessary steps to ensure, before concluding the outsourcing agreement and throughout its duration, that the following conditions are satisfied:
Pred sklenitvijo pogodbe o zunanjem izvajanju in med njenim trajanjem sprejmejo potrebne ukrepe, s katerimi zagotovijo, da so izpolnjeni naslednji pogoji:
the service provider has the ability to perform the outsourced functions reliably and professionally and is the holder of any authorisations required by law for those purposes;
ponudnik storitev ima sposobnost, da zanesljivo in strokovno opravlja funkcije, oddane v zunanje izvajanje, ter je imetnik katerega koli dovoljenja, ki je po zakonu potrebno za te namene;
the service provider properly supervises the carrying out of the outsourced functions and adequately manages risks associated with the outsourcing agreement;
ponudnik storitev ustrezno nadzoruje izvajanje funkcij, oddanih v zunanje izvajanje, in v zadostnem obsegu upravlja tveganja, povezana s pogodbo o zunanjem izvajanju;
the outsourced services are provided in accordance with the specifications of the outsourcing agreement, which are based on pre-determined methods for assessing the standard of performance of the service provider, including metrics to measure the service provided and specifications of the requirements that shall be met;
storitve, oddane v zunanje izvajanje, se zagotovijo v skladu s specifikacijami pogodbe o zunanjem izvajanju, ki temeljijo na vnaprej določenih metodah za ocenjevanje standarda uspešnosti ponudnika storitev, vključno z metrikami za merjenje opravljenih storitev in specifikacijami zahtev, ki jih je treba izpolniti;
the trading venue has the necessary expertise to supervise the outsourced functions effectively and manage risks associated with the outsourcing agreement;
mesto trgovanja ima potrebno strokovno znanje za učinkovit nadzor funkcij, oddanih v zunanje izvajanje, ter upravljanje tveganj, povezanih s pogodbo o zunanjem izvajanju;
the trading venue has the ability to take swift action if the service provider does not carry out the functions effectively and in compliance with applicable laws and regulatory requirements;
mesto trgovanja lahko hitro ukrepa, če ponudnik storitev funkcij ne opravlja učinkovito in v skladu z veljavnimi zakoni in regulativnimi zahtevami;
the service provider discloses to the trading venue any fact that may have a material impact on its ability to carry out the outsourced functions effectively and in compliance with its legal obligations;
ponudnik storitev mestu trgovanja razkrije vsako dejstvo, ki bi lahko pomembno vplivalo na njegovo zmožnost izvajanja funkcij, oddanih v zunanje izvajanje, na učinkovit način in v skladu z veljavnimi pravnimi obveznostmi;
the trading venue is able to terminate the outsourcing agreement where necessary without detriment to the continuity and quality of its services to clients;
mesto trgovanja lahko po potrebi prekine pogodbo o zunanjem izvajanju brez negativnih vplivov na neprekinjenost in kakovost njegovih storitev za stranke;
the service provider cooperates with the competent authorities of the trading venue in connection with the outsourced activities;
ponudnik storitev sodeluje s pristojnimi organi mesta trgovanja v zvezi s storitvami, oddanimi v zunanje izvajanje;
the trading venue has effective access to data related to the outsourced activities and to the business premises of the service provider, and auditors of the trading venue and competent authorities have effective access to data related to the outsourced activities;
mesto trgovanja ima učinkovit dostop do podatkov v zvezi z dejavnostmi, oddanimi v zunanje izvajanje, in do poslovnih prostorov ponudnika storitev, revizorji mesta trgovanja in pristojni organi pa imajo učinkovit dostop do podatkov v zvezi z dejavnostmi, oddanimi v zunanje izvajanje;
the trading venue sets out requirements to be met by the service providers to protect confidential information relating to the trading venue and its members, and to the venue's proprietary information and software;
mesto trgovanja določa zahteve, ki jih morajo izpolnjevati ponudniki storitev glede varovanja zaupnih informacij, ki se nanašajo na mesto trgovanja in njegove člane ter na zaščitene informacije in programsko opremo mesta trgovanja;
the service provider meets the requirements referred to in point (j);
ponudnik storitev izpolnjuje zahteve iz točke (j);
the trading venue and the service provider establish, implement and maintain a contingency plan for disaster recovery and periodic testing of backup facilities, where that is necessary having regard to the operational function that has been outsourced;
mesto trgovanja in ponudnik storitev vzpostavita, izvajata in vzdržujeta krizni načrt za izvajanje ukrepov v primeru kriznega dogodka ter redno preizkušanje varnostne opreme, če je to potrebno ob upoštevanju operativne funkcije, oddane v zunanje izvajanje.
the outsourcing agreement specifies the obligations of the service provider in case it cannot provide its services, including the provision of the service by a substituting firm;
pogodba o zunanjem izvajanju določa obveznosti ponudnika storitev v primeru, da ne more opravljati svojih storitev, vključno z zagotavljanjem storitev nadomestne družbe;
the trading venue has access to information in relation to the business continuity arrangements referred to in Article 16 of the service provider.
mesto trgovanja ima dostop do informacij v zvezi z ureditvami neprekinjenega poslovanja ponudnika storitev iz člena 16.
Outsourcing agreements shall be concluded in writing and shall set out:
Pogodbe o zunanjem izvajanju se sklenejo v pisni obliki, v njih pa se navedejo:
the assignment of rights and obligations between service provider and trading venue;
razdelitev pravic in obveznosti med ponudnikom storitev in mestom trgovanja;
a clear description of:
jasen opis:
the operational functions that are outsourced;
operativnih funkcij, ki se oddajo v zunanje izvajanje;
the access of the trading venue to the books and records of the service provider;
dostopa mesta trgovanja do poslovnih knjig in evidenc ponudnika storitev;
the procedure to identify and address potential conflicts of interest;
postopka za odkrivanje in odpravo potencialnih nasprotij interesov;
the responsibility assumed by each party;
odgovornosti, ki jo prevzame vsaka stranka;
the procedure for the amendment and termination of the agreement.
postopka za spremembe in prekinitev pogodbe;
the means to ensure that both the trading venue and the service provider facilitate in any way necessary the exercise by the competent authority of its supervisory powers.
sredstva za zagotavljanje, da mesto trgovanja in ponudnik storitev, na kakršen koli način je to potrebno, olajšata izvajanje nadzornih pooblastil pristojnega organa.
Trading venues shall report to the competent authorities their intention to outsource operational functions in the following cases:
Mesta trgovanja pristojnim organom poročajo o svoji nameri, da oddajo operativne funkcije v zunanje izvajanje v naslednjih primerih:
where the service provider provides the same service to other trading venues;
kadar ponudnik storitev zagotavlja enako storitev drugim mestom trgovanja;
where critical operational functions necessary for business continuation would be outsourced, in which case the trading venues shall request a prior authorisation from the competent authority.
kadar bi se v zunanje izvajanje oddale ključne operativne funkcije, potrebne za neprekinjeno poslovanje; v tem primeru mesta trgovanja zaprosijo za predhodno dovoljenje pristojnega organa.
For the purposes of point (b) in paragraph 5, critical operational functions shall include those functions necessary to comply with the obligations referred to in Article 47(1)(b), (c) and (e) of Directive 2014/65/EU.
Za namene točke (b) odstavka 5 ključne operativne funkcije vključujejo tiste funkcije, ki so potrebne za izpolnjevanje obveznosti iz člena 47(1)(b), (c) in (e) Direktive 2014/65/EU.
Trading venues shall inform the competent authorities of any outsourcing agreements not subject to prior authorisation requirement immediately after the signature of the agreement.
Mesta trgovanja takoj po podpisu pogodbe o zunanjem izvajanju, za katero ni potrebno predhodno dovoljenje, obvestijo pristojne organe o vsaki taki pogodbi.
CAPACITY AND RESILIENCE OF TRADING VENUES
ZMOGLJIVOST IN ODPORNOST MEST TRGOVANJA
Due diligence for members of trading venues
Potrebna skrbnost za člane mest trgovanja
Trading venues shall set out the conditions for using its electronic order submission systems by its members.
Mesta trgovanja določijo pogoje za uporabo svojih sistemov za elektronsko predložitev podatkov s strani članov.
Those conditions shall be set having regard to the trading model of the trading venue and shall cover at least the following:
Navedeni pogoji se določijo ob upoštevanju modela trgovanja mesta trgovanja in zajemajo vsaj naslednje:
pre-trade controls on price, volume and value of orders and usage of the system and post-trade controls on the trading activities of the members;
kontrole cene, obsega in vrednosti naročil in uporabe sistema pred trgovanjem ter dejavnosti trgovanja članov po trgovanju;
qualifications required of staff in key positions within the members;
kvalifikacije, ki se zahtevajo od osebja na ključnih položajih znotraj članov;
technical and functional conformance testing;
preizkušanje tehnične in funkcionalne skladnosti;
policy of use of the kill functionality;
politiko uporabe mehanizma za izklop v sili;
provisions on whether the member may give its own clients direct electronic access to the system and if so, the conditions applicable to those clients.
določbe o tem, ali lahko član svojim strankam zagotovi neposreden elektronski dostop do sistema, in če je tako, pogoji, ki se uporabljajo za navedene stranke.
Trading venues shall undertake a due diligence assessment of their prospective members against the conditions referred to in paragraph 1 and shall set out the procedures for such assessment.
Mesta trgovanja izvedejo oceno potrebne skrbnosti svojih potencialnih članov glede na pogoje iz odstavka 1 in določijo postopke za takšno oceno.
Trading venues shall, once a year, conduct a risk-based assessment of the compliance of their members with the conditions referred to in paragraph 1 and check whether their members are still registered as investment firms.
Mesta trgovanja enkrat na leto na podlagi tveganj ocenijo, kako njihovi člani izpolnjujejo pogoje iz odstavka 1, ter preverijo, ali so njihovi člani še vedno registrirani kot investicijska podjetja.
The risk-based assessment shall take into account the scale and potential impact of trading undertaken by each member as well as the time elapsed since the member's last risk based assessment.
Ocena na podlagi tveganj upošteva obseg in potencialni učinek trgovanja vsakega člana ter čas, ki je minil od njegove zadnje ocene na podlagi tveganj.
Trading venues shall, where necessary, undertake additional assessments of their members' compliance with the conditions referred to in paragraph 1 following the annual risk-based assessment laid down in paragraph 3.
Mesta trgovanja po letni oceni na podlagi tveganj iz odstavka 3 po potrebi dodatno ocenijo, kako njihovi člani izpolnjujejo pogoje iz odstavka 1.
Trading venues shall set out criteria and procedures for imposing sanctions on a non-compliant member.
Mesta trgovanja določijo merila in postopke za naložitev sankcij v primerih članov, ki ne izpolnjujejo obveznosti.
Those sanctions shall include suspension of access to the trading venue and loss of membership.
Te sankcije vključujejo začasno ukinitev dostopa do mesta trgovanja in izgubo članstva.
Trading venues shall for at least five years maintain records of:
Mesta trgovanja najmanj pet let vodijo evidence o:
the conditions and procedures for the due diligence assessment;
pogojih in postopkih za oceno potrebne skrbnosti;
the criteria and procedures for imposing sanctions;
merilih in postopkih za naložitev sankcij;
the initial due diligence assessment of their members;
začetni oceni potrebne skrbnosti svojih članov;
the annual risk-based assessment of their members;
letni oceni svojih članov na podlagi tveganj;
the members that failed the annual risk-based assessment and any sanctions imposed on such members.
članih, ki niso uspešno prestali letne ocene na podlagi tveganj, in morebitnih sankcijah za take člane.
Testing of the trading systems
Preizkušanje sistemov trgovanja
Trading venues shall, prior to deploying or updating a trading system, make use of clearly defined development and testing methodologies which ensure at least that:
Mesta trgovanja pred namestitvijo ali posodobitvijo sistema trgovanja uporabijo jasno opredeljene metodologije za razvoj in preizkušanje, ki zagotavljajo vsaj, da:
the trading system does not behave in an unintended manner;
sistem trgovanja ne deluje na nenačrtovan način;
the compliance and risk management controls embedded in the systems work as intended, including the automatic generation of error reports;
kontrole skladnosti in obvladovanja tveganja, vgrajene v sisteme, delujejo, kot je bilo načrtovano, vključno s samodejno pripravo poročil o napakah;
the trading system can continue to work effectively in case of a significant increase of the number of messages managed by the system.
lahko sistem trgovanja še naprej deluje učinkovito v primeru znatnega povečanja števila sporočil, ki jih upravlja sistem.
Trading venues shall be able to demonstrate at all times that they have taken all reasonable steps to avoid that their trading systems contribute to disorderly trading conditions.
Mesta trgovanja so v vsakem trenutku sposobna dokazati, da so sprejela vse potrebne ukrepe za preprečitev, da bi njihovi sistemi trgovanja prispevali k neurejenim pogojem trgovanja.
Conformance testing
Preizkušanje skladnosti
(Article 48(6) of Directive 2014/65/EU)
(člen 48(6) Direktive 2014/65/EU)
Trading venues shall require their members to undertake conformance testing prior to the deployment or a substantial update of:
Mesta trgovanja zahtevajo od svojih članov, da opravijo preizkušanje skladnosti pred namestitvijo ali znatno posodobitvijo:
the access to the trading venue's system;
dostopa do sistema mesta trgovanja;
the member's trading system, trading algorithm or trading strategy.
sistema trgovanja, algoritma trgovanja ali strategije trgovanja člana.
The conformance testing shall ensure that the basic functioning of the member's trading system, algorithm and strategy complies with the trading venue's conditions.
Preizkušanje skladnosti zagotovi, da je osnovno delovanje sistema trgovanja, algoritma in strategije člana v skladu s pogoji mesta trgovanja.
The conformance testing shall verify the functioning of the following:
V okviru preizkušanja skladnosti se preveri delovanje naslednjega:
the ability of the system or algorithm to interact as expected with the trading venue's matching logic and the adequate processing of the data flows from and to the trading venue;
sposobnosti interakcije sistema ali algoritma z logiko mesta trgovanja glede usklajevanja, kot je bila pričakovana, in ustrezne obdelave toka podatkov v mesto trgovanja in iz njega;
the basic functionalities such as submission, modification or cancellation of an order or an indication of interest, static and market data downloads and all business data flows;
osnovnih funkcionalnosti, kot so predložitev, sprememba ali preklic naročila ali navedba interesa, prenosi statičnih podatkov in podatkov o trgovanju ter vsi tokovi poslovnih podatkov;
the connectivity, including the cancel on disconnect command, market data feed loss and throttles, and the recovery, including the intra-day resumption of trading and the handling of suspended instruments or non-updated market data.
povezljivosti, vključno s preklicem pri prekinitvi povezave (Cancel-on-Disconnect), izgubo vira podatkov o trgovanju in regulatorji, ter okrevanja, vključno s ponovno vzpostavitvijo trgovanja znotraj enega dne in obravnavo začasno prekinjenih instrumentov ali neposodobljenih podatkov o trgovanju.
Trading venues shall provide a conformance testing environment to their actual and prospective members which:
Mesta trgovanja svojim sedanjim in potencialnim članom zagotovijo okolje za preizkušanje skladnosti, ki:
is accessible on conditions equivalent to those applicable to the trading venue's other testing services;
je dostopno pod pogoji, ki so enakovredni tistim, ki se uporabljajo za druge storitve preizkušanja mesta trgovanja;
provides a list of financial instruments which can be tested and which are representative of every class of instruments available in the production environment;
zagotavlja seznam finančnih instrumentov, ki jih je mogoče preizkušati in ki so reprezentativni za vsak razred instrumentov, ki so na voljo v produkcijskem okolju;
is available during general market hours or, if available only outside market hours, on a pre-scheduled periodic basis;
je na voljo med splošnim trgovalnim časom ali, če je na razpolago samo zunaj trgovalnega časa, ob vnaprej določenih rednih obdobjih;
is supported by staff with sufficient knowledge.
ga podpira osebje z zadostnim znanjem.
Trading venues shall deliver a report of the results of the conformance testing to the actual or prospective member only.
Mesto trgovanja dostavi poročilo o rezultatih preizkušanja skladnosti samo sedanjim in potencialnim članom.
Trading venues shall require their actual and prospective members to use their conformance testing facilities.
Mesta trgovanja zahtevajo od svojih sedanjih in potencialnih članov, naj uporabijo svoje sisteme za preizkušanje skladnosti.