Group 1: Development and Efficiency of Algorithmic Trading - Algorithmic trading originated in the US and has rapidly developed in China due to market growth and demand for diverse investment tools[1] - Algorithmic trading enhances market efficiency by improving price discovery, reducing transaction costs, and minimizing human errors[4] - In 2024, over 97% of algorithmic trading at Huachuang Securities utilized TWAP, VWAP, and POV algorithms, indicating their widespread application[5] Group 2: Regulatory Environment and Future Outlook - The China Securities Regulatory Commission (CSRC) implemented regulations on algorithmic trading to ensure market fairness and stability, effective from October 8, 2024[6] - The future of China's algorithmic trading industry looks promising, driven by market maturity and advancements in AI and big data technologies[7] - Algorithmic trading accounted for 1.56% of the total trading volume in the A-share market, with Huachuang's algorithmic trading volume reaching 4 trillion yuan in 2024[16] Group 3: Risks and Challenges - The development of algorithmic trading faces risks related to technology, models, market conditions, and regulatory compliance[8] - The rapid growth of algorithmic trading may lead to increased market volatility and potential manipulation if not properly regulated[6]