新规实施！券商落地新版程序化交易协议 高频交易投资者的这些信息都要报告了

Core Viewpoint - The China Securities Association has released a standardized "Algorithmic Trading Entrustment Agreement" for securities firms to implement, which requires investors to comply with new regulations for algorithmic trading [1][5]. Group 1: Implementation of New Regulations - Securities firms are already adopting the new algorithmic trading agreement, mandating investors to sign it to engage in algorithmic trading or apply for related permissions [1][5]. - If investors do not agree to the new agreement, they must close their algorithmic trading permissions or cease algorithmic trading activities [1]. Group 2: Reporting Requirements - Investors must report various information before engaging in algorithmic trading, including account details, fund sources, trading strategies, and software information [2][3]. - Significant changes in reported information must be communicated to the securities firm within a specified timeframe [2][3]. Group 3: High-Frequency Trading (HFT) Regulations - HFT investors are required to report critical information such as server locations, system testing reports, and emergency plans in case of system failures [3][4]. - The agreement emphasizes compliance with laws and regulations, prohibiting activities like insider trading and market manipulation [4]. Group 4: Regulatory Framework - The implementation of the new algorithmic trading agreement is closely linked to the "Algorithmic Trading Management Implementation Rules" that took effect on July 7 [5]. - The rules define abnormal trading behaviors and outline measures that can be taken by exchanges in response to such behaviors, including high-frequency trading thresholds [5].