1. Trading venues and their members, participants or users, systematic internalisers, designated  publishing  entities,  APAs  and CTPs shall synchronise the business clocks they  use  to  record  the date and time of any reportable event.

2. ESMA shall, in accordance with international standards, develop draft regulatory technical standards to specify the level of accuracy to which business clocks are to be synchronised.

ESMA shall submit those draft regulatory technical standards to the Commission by 29 December 2024.

Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first sub­ paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010. 

Explanatory note regarding MiFIR Review and Transition:

Article 22c will apply when the revised version of Commission Delegated Regulation (EU) 2017/574 (RTS 25) starts applying.

Till such date, in respect of reporting by investment firms: 

• Article 50 of MiFID of the consolidated version of 09/01/2024 applies; 
• The current version of Commission Delegated Regulation (EU) 2017/574 (RTS 25) applies.