Recital 20

Regulation (EU) 2024/791 of the European Parliament and of the Council of 28 February 2024 amending Regulation (EU) No 600/2014 as regards enhancing data transparency, removing obstacles to the emergence of consolidated tapes, optimising the trading obligations and prohibiting receiving payment for order flow (Text with EEA relevance) · European Union

(20) To better monitor reportable events, Directive 2014/65/EU harmonises the synchronisation of business clocks for trading venues and their members. To ensure that, in the context of the consolidation of data, timestamps reported by different entities can be compared meaningfully, it is appropriate to extend the requirements for harmonisation of the synchronisation of business clocks to designated publishing entities, systematic internalisers, APAs and CTPs. Due to the level of technical expertise required to specify the requirements for application of a synchronised business clock, ESMA should be empowered to develop draft regulatory technical standards to specify the level of accuracy to which the business clocks should be synchronised.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-13 · Text as adopted (Official Journal); later amendments are not incorporated in this text.