India's GIFT City regulator proposes rules to ring-fence algo trading
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The regulator for India's GIFT City has proposed new rules to manage algorithmic trading, requiring prior exchange permission for participants. The International Financial Services Centres Authority (IFSCA) aims to ensure risk control and market integrity by auditing algorithms and establishing filters on certain securities. Additionally, financial penalties may be imposed for excessive order placements compared to executed trades to deter market manipulation.
Source: Reuters The copyright of this article belongs to the original author/organization.
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