Core Viewpoint - The article discusses the recent developments in the regulatory framework for algorithmic trading in the futures market, highlighting the introduction of various standards and guidelines aimed at enhancing market order and fairness. Group 1: Regulatory Developments - The China Futures Association (CFA) has solicited opinions on two group standards regarding futures trading information systems and algorithmic trading information systems testing to maintain market order and fairness [1][2] - Multiple exchanges, including the Shanghai Futures Exchange and Dalian Commodity Exchange, have released draft management measures for algorithmic trading, indicating a coordinated regulatory effort [3][11] Group 2: Testing Guidelines - The China Securities Regulatory Commission (CSRC) issued the "Futures Market Algorithmic Trading Management Regulations (Trial)" on June 13, which will be implemented from October 9, establishing a framework for algorithmic trading oversight [4] - The CFA has prepared draft guidelines for testing futures company trading information systems and algorithmic trading systems, which will be open for feedback until July 26, 2025 [4][8] Group 3: Testing Requirements - The draft guidelines for testing algorithmic trading systems outline specific requirements across six areas: interface adaptability, anomaly monitoring, threshold management, error prevention, emergency response, and log recording [5][6][8] - The guidelines aim to enhance the safety, stability, and risk management capabilities of algorithmic trading systems, promoting a more standardized and efficient industry [8][9] Group 4: Market Impact - Industry experts suggest that while the new regulations may increase costs and technical barriers in the short term, they will significantly improve market stability, investor protection, and overall industry efficiency in the long run [9][13] - The introduction of these measures marks a shift towards a more refined regulatory approach to algorithmic trading, emphasizing strategy depth and compliance capabilities over mere speed [13]