13.IV.4.2 Timing

Second, in the context of timing, MiFID II requires RMs and MTFs, as well as their members or participants, to comply with the MiFID II clock synchronization-rules.1 Regulatory technical standards specify the level of accuracy to which clocks are to be synchronized in accordance with international standards.2MiFID II does not cover the explicit requirement that RMs and MTFs need to publish the equity pre-trade data in real-time (as is the case with equity post-trade publication under MiFID II and was the situation for pre-trade publication under MiFID I).3MiFID II suffices with the more general requirement that the information (MiFID II equity pre-trade data) needs to be available to the public ‘on a continuous basis’ during normal trading hours.4