Core Viewpoint - The China Futures Association has issued a notice regarding the implementation of the "Algorithmic Trading Entrustment Agreement Text (Essential Clauses)" to standardize the entrustment agreement signing and performance behavior for algorithmic trading in the futures market, effective from October 9, 2025 [2] Group 1 - The "Essential Clauses" were developed after extensive consultation and were approved at the 21st meeting of the 6th Council of the Association [2] - Futures companies must sign an entrustment agreement with clients before accepting algorithmic trading entrustments, and those already engaged in algorithmic trading must sign the agreement within six months of the implementation date [2] - The entrustment agreement must include all contents of the "Essential Clauses," and futures companies may add provisions based on their own risk control requirements [2]

Core Viewpoint - The China Financial Futures Exchange has announced the implementation of the "Procedural Trading Management Measures," which have been reported to the China Securities Regulatory Commission and will take effect on October 9, 2025 [1] Group 1 - The new rules aim to regulate algorithmic trading practices within the financial futures market [1] - The announcement indicates a significant step towards enhancing the regulatory framework for trading activities in China [1] - The implementation date provides a timeline for market participants to prepare for compliance with the new regulations [1]

Core Viewpoint - The Dalian Commodity Exchange has announced the approval of the "Management Measures for Programmatic Trading," which will take effect on October 9, 2025 [1] Group 1 - The measures were approved during the 62nd meeting of the fourth council of the Dalian Commodity Exchange [1] - Specific implementation methods for programmatic trading reports and transitional arrangements for activities already in progress will be notified separately [1]

Group 1 - The Shanghai International Energy Exchange has announced the approval of the "Procedural Trading Management Rules" by its board, which will be reported to the China Securities Regulatory Commission [1] - The new rules will come into effect on October 9, 2025 [1]

Core Viewpoint - The Shanghai Futures Exchange is seeking public opinion on the proposed "Management Measures for Program Trading," which focuses on trading monitoring and risk management [1] Group 1: Compliance and Risk Management - Program traders are required to enhance compliance awareness and strengthen risk prevention measures [1] - Futures company members, overseas special brokers, and overseas intermediaries must establish and effectively implement relevant program trading systems, enhancing monitoring of client program trading activities [1] Group 2: Monitoring and Regulation - The exchange will conduct real-time monitoring of program trading behaviors, particularly focusing on high cancellation rates and high cancellation-to-execution ratios [1] - There will be heightened regulation on high-frequency trading, including fees for cancellations and trading limits, with potential differentiated management of high-frequency trading fees [1] Group 3: Emergency Response - In the event of sudden incidents, program traders, futures company members, overseas special brokers, and overseas intermediaries must take immediate action, with the exchange having the authority to suspend trading if necessary [1]