MiFID II Article 50
Article 50 : Synchronisation of business clocks
1. Member States shall require that all trading venues and their members or participants synchronise the business clocks they use to record the date and time of any reportable event.
2. ESMA shall develop draft regulatory technical standards to specify the level of accuracy to which clocks are to be synchronised in accordance with international standards.
ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
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