(Article 48(4), (5) and (6) of Directive 2014/65/EU)

1. Trading venues shall have at least the following arrangements in place to prevent disorderly trading and breaches of capacity limits:

(a) limits per member of the number of orders sent per second;

(b) mechanisms to manage volatility;

(c) pre-trade controls.

2. For the purposes of paragraph 1, trading venues shall be able to:

(a) request information from any member or user of sponsored access on their organisational requirements and trading controls;

(b) suspend a member's or a trader's access to the trading system at the initiative of the trading venue or at the request of that member, a clearing member, the CCP, where provided for in the CCP's governing rules, or the competent authority;

(c) operate a kill functionality to cancel unexecuted orders submitted by a member, or by a sponsored access client under the following circumstances:

(i) upon request of the member, or of the sponsored access client where the member, or client is technically unable to delete its own orders;

(ii) where the order book contains erroneous duplicated orders;

(iii) following a suspension initiated either by the market operator or the competent authority;