Securities Supervision Commission: Exchanges can appropriately increase high-frequency trading fees

On April 12, the Securities Supervision Commission publicly solicited opinions on the "Securities Market Programmatic Trading Management Regulations (Trial) (exposure draft) ". First, clarify the definition of high-frequency trading. Second, clarify the differentiated management requirements for high-frequency trading, including the requirement for additional reporting servers for high-frequency trading, system test reports, fault emergency plans and other information. The exchange can appropriately raise the charging standards for high-frequency trading and strictly manage the abnormal trading behavior of high-frequency trading investors.