China programme trading rules to boost futures market
Futures firms could adjust strategies to avoid HFT classification under new framework
A draft of China’s new programme trading rules has been welcomed by futures traders, who say it will clarify grey areas where high-frequency trading (HFT) could undermine some firms’ strategies.
Since last year, futures exchanges in China have been penalising firms for HFT by disqualifying them from receiving commission rebates, which dealers say has challenged the viability of some firms’
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