The third phase in a Working Equitation competition is the Speed Trial which is only available for Levels 2-7. There is no speed phase for Intro/Level 1.
This phase is judged solely on the time taken to complete the course by the same judges that judged both the dressage and ease of handling trials, plus any time adjustments for bonuses or penalties. This trial provides evidence of the rider's coordination and anticipation, and the horse’s submission, speed, and attention.
Don't be intimidated by having to navigate a speed round. At the lower levels, many riders choose to trot the obstacles. Fast is not always the most efficient. Riding a smooth course and shaving time off by using more direct lines to the obstacles can be faster than cantering or galloping.
The same list of approved obstacles listed on our EOH page are used in the Speed Trial.