程序化交易委托协议

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中期协公布《程序化交易委托协议文本(必备条款)》和三项期货行业推荐性团体标准
Qi Huo Ri Bao Wang· 2025-09-05 14:08
同日,中期协还公布了三项期货行业推荐性团体标准,包括《期货程序化交易系统功能测试指引》 (T/ZQX 0004-2025)、《期货公司交易信息系统测试指引》(T/ZQX 0005-2025)、《期货公司柜台 系统管理接口标准 第1部分:出入金接口》(T/ZQX 0006.1-2025),自公布之日起实施。 期货日报网讯(记者 杨美)9月5日,中期协关于发布实施《程序化交易委托协议文本(必备条款)》 的通知。为落实《期货市场程序化交易管理规定(试行)》有关要求,规范程序化交易委托协议签约履 约行为,中国期货业协会(下称协会)经广泛征求意见,制定了《程序化交易委托协议文本(必备条 款)》(以下简称《必备条款》),自2025年10月9日起施行。 通知称,期货公司接受客户程序化交易委托前,应当与客户签订委托协议,《必备条款》施行前已经从 事程序化交易相关活动的,应当自施行之日起6个月内签订委托协议。委托协议必须涵盖《必备条款》 所有内容,期货公司可以结合自身风控要求等具体情况对《必备条款》进行适当增加。 ...
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
Mei Ri Jing Ji Xin Wen· 2025-07-09 14:42
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].