Research on Some Issues of the New Regulations on Programmed Trading Supervision in the Securities Market
The scope and depth of the application of programmatic trading in China's securities market are gradually strengthening.On September 1,2023,the China Securities Regulatory Commission guided the three major stock exchanges in Shanghai,Shenzhen,and Beijing to respectively introduce two new regulatory regulations related to programmatic trading,namely The Notice on Strengthening the Management of Programmed Trading(Management Notice)and The Notice on Relevant Matters of Stock Programmed Trading Reporting(Report Notice).From the perspective of regulatory law,this paper discusses several important aspects of the new regulatory regulations on programmatic transactions,including the latest regulatory attitude towards programmatic transactions,the definition of programmatic transactions,the definition of transaction subjects,specific analysis of report content,requirements for quantitative supervision,and international influence;and put forward several suggestions for future improvement and perfection of regulatory laws.
万方数据
维普
