Article 8
Testing of the trading systems
1. 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:
(a) |
the trading system does not behave in an unintended manner; |
(b) |
the compliance and risk management controls embedded in the systems work as intended, including the automatic generation of error reports; |
(c) |
the trading system can continue to work effectively in case of a significant increase of the number of messages managed by the system. |
2. 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.