Monday August 11 2025
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: China
On 8th August 2025, the China Financial Futures Exchange (CFFEX) announced that in order to implement the various regulatory requirements of the “Regulations on the Administration of Algorithmic Trading in the Futures Market (Trial)” (Regulations) of the China Securities Regulatory Commission (CSRC), comprehensively and strictly strengthen the supervision of algorithmic trading, and maintain market order, under the overall guidance of the CSRC, the CFFEX.
The Administrative Measures, centered around strengthening regulation, preventing risks, and promoting high-quality development, adhere to the regulatory objectives of “seeking benefits and avoiding harm, prioritizing fairness, strict regulation, and standardized development.” They provide detailed regulations for the management of programmed trading reports, system access management, hosting and trading seat management, transaction monitoring and risk management, and oversight and management, ensuring the effective implementation of the Administrative Measures. The Measures clarify the “report before trading” requirement; strengthen system access management; standardize the use and allocation of hosting resources and trading seats; clarify transaction monitoring and risk management requirements; and clarify exchanges’ inspection powers and self-regulatory measures.
Following the formal implementation of the Administrative Measures, a six-month transition period will be set during which program traders will complete matters such as signing commission agreements and filing program trading reports.
Going forward, the CFFEX will continuously review market practices and refine regulatory arrangements related to program trading. It will also conduct timely training and provide detailed interpretation of the rules to effectively protect investor rights and interests and promote the healthy and stable operation of the capital market.
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