期货交易所应当定期或者不定期对程序化交易者报告的信息进行核查

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the implementation of the "Regulations on the Management of Program Trading in the Futures Market (Trial)" effective from October 9, 2025, which aims to enhance the oversight of program trading activities in the futures market [1] Group 1: Regulatory Requirements - Futures companies are required to periodically or irregularly verify the information reported by program trading clients and urge clients to correct any discrepancies found [1] - If clients fail to correct the reported issues after being urged, futures companies must refuse to accept their opening orders according to the regulations of the futures exchange and the entrusted agreement [1] Group 2: Exchange Oversight - Futures exchanges are also mandated to conduct regular or irregular checks on the information reported by program traders, focusing on high-frequency traders [1] - The verification will include checking the types of trading strategies reported, the maximum cancellation frequency, and the highest number of cancellations reported in a single day [1] - If discrepancies are found in the reports, self-regulatory measures will be taken according to business rules [1]