Research On The Legal Issues Of High-Frequency Trading Regulation

At present,there is no consensus on the concept of high-frequency trading.Some scholars define high-frequency trading from technical means,and some scholars define high-frequency trading from market means.Therefore,the concept of high-frequency trading is controversial.The risks of high-frequency trading are shown in technical risks and market risks.The technical risk is reflected in the risk of computer network crash and the risk of algorithm program error.Market risk manifests itself in the influence of unfair trading strategies on transaction fairness,high-speed liquidity on transaction security,and transaction behavior on transaction efficiency.This paper defines the concept,characteristics and legal nature of high-frequency trading,and then introduces the current development status,risk performance and reasons of high-frequency trading.It can be seen that high-frequency trading is a double-edged sword.Although it can bring liquidity to the market and increase market vitality,it also has certain risks.Therefore,high-frequency trading should be carried out.Legal supervision.From the current legislative situation,China's law does not make relevant provisions on the concept of high-frequency transactions,which are applicable to procedural transactions.High-frequency trading and procedural trading are essentially different in terms of transaction speed and specific application,and can not be assimilated.Secondly,in view of the lack of specific regulatory system for high-frequency trading,we can learn from the relevant provisions of foreign countries to find the experience that our country can learn from.On this basis,we should combine the fuse system and the stop-up system to solve the problem of imperfect supporting measures for high-frequency trading;establish a wrong trading system to solve the problem of insufficient remedial measures for high-frequency trading;and establish a fair and equal system.Bit trusteeship standard solves the problem of preemptive trading in improper trading strategy.