The China Securities Regulatory Commission has published draft trial provisions on the management of programmatic trading in the futures market for public comment, aiming to strengthen oversight, standardise trading behaviour, and safeguard market order and fairness in line with the Futures and Derivatives Law and related State Council guidance. The draft sets out a framework for end-to-end supervision of programmatic trading, including a definition and general requirements, reporting obligations, controls over system access, requirements for host colocation and seat management, and expectations for trading monitoring and risk management. It also specifies supervisory arrangements and how the provisions apply to relevant market participants. The Commission will revise the draft based on public feedback and, after completing the relevant procedures, publish the final provisions for implementation.
China Securities Regulatory Commission 2025-01-17
China Securities Regulatory Commission launches consultation on trial rules to regulate programmatic trading in futures markets
The China Securities Regulatory Commission has released draft trial provisions for managing programmatic trading in the futures market, seeking public comment. The draft outlines a comprehensive framework for supervision, including definitions, reporting obligations, system access controls, and risk management expectations. Final provisions will be published after public feedback and procedural completion.