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证券时报：因势利导让量化交易在阳光下运行

Securities Times: Snobbish drives quantitative trading to run under the sun

Moomoo 24/7 ·  Sep 3, 2023 17:28
Recently, the Securities Regulatory Commission issued a notice to guide the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange to formulate and issue a series of rules for the supervision of programmatic transactions. The reporter believes that some of these signals are particularly noteworthy: First, judging from the statements made by the regulatory authorities, the positive significance and development trend of programmatic transactions have all been affirmed. This has brought various recent debates surrounding China's quantification to a certain extent. Second, regulation emphasizes “taking advantage of circumstances” and implements differentiated management in key areas such as high-frequency transactions; there will be no one-size-fits-all approach. Finally, building a multi-person supervisory system requires all parties to form joint efforts. For example, as an access window for programmatic transactions, brokerage firms need to assume front-line management responsibilities. It is believed that with the gradual regulation of regulations, some harmful horses that use quantitative tools to carry out illegal transactions will be punished, and quantification of active compliance will further operate with high quality under the sun.
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