资深评论员董少鹏指出，盲目叫停量化交易是错误的，监管重拳已至，操纵市场者难再隐身

Core Viewpoint - Recent extreme stock price movements in the market have led many investors to blame quantitative trading for significant losses, with some suggesting a complete halt to such trading practices. However, seasoned financial commentator Dong Shaopeng argues that this approach is misguided and that a more nuanced understanding of quantitative trading's role in the market is necessary [1][3]. Group 1: Market Reactions and Opinions - Investors have experienced daily losses of up to 20% due to sudden stock price drops, particularly during the market's closing hours [1][3]. - There are two main opinions regarding quantitative trading: one advocates for a separate market for quantitative trading, while the other calls for a complete suspension of such trading [3]. - Dong Shaopeng emphasizes that halting quantitative trading would not necessarily benefit retail investors but would instead transfer speculative opportunities to other market participants [4]. Group 2: Causes of Market Volatility - The primary creators of "high volatility" in the market are various "stock manipulators," with retail investors often being collateral damage [5][7]. - Manipulative practices by these "stock manipulators" include spreading false information and artificially inflating or deflating stock prices, which misleads retail investors [7]. Group 3: Regulatory Developments - The implementation of new regulatory guidelines for algorithmic trading in China, effective from July 2025, marks a significant step in managing high-frequency trading [8][9]. - These guidelines include specific standards for high-frequency trading, such as a maximum of 300 order submissions or cancellations per second per account, and a daily cap of 20,000 submissions or cancellations [9]. - The new regulations aim to prevent excessive trading frequency and to address manipulative practices, thereby promoting a more stable trading environment [11][13]. Group 4: Future Directions - Dong Shaopeng advocates for a balanced approach to regulating quantitative trading, suggesting that it should not be outright banned but rather guided towards enhancing market stability [13]. - The goal is to transform quantitative trading from a "market volatility amplifier" into a "market liquidity stabilizer" through effective regulatory frameworks [13].