摘要
高频交易具有高速且复杂的指令操作程序、低延迟、持仓时间短、交易次数多、日内开平仓、批量挂单撤单的特点,在降低一些证券交易参与者交易成本的同时,也加剧了市场动荡。本文总结了欧美等国在高频交易监管方面的经验,对我国发展高频交易提出了相应的监管建议。
High-frequency trading(HFT) has introduced fast and complex trading operations to the securities markets, reducing transaction costs, but also increasing market volatility. This article summarizes the experience of the EU and the United States in regulating HFT, and puts forward regulatory recommendations to the development of HFT in China.
出处
《金融市场研究》
2014年第1期98-102,共5页
Financial Market Research
关键词
高频交易
风险控制
风险防范
应急处理
high-frequency trading
risk control
risk prevention
emergency response
