Deutsche Börse Preps for HFT Regulation
It is intended to lay the system-related foundations for the German High-frequency Trading Act, adopted in the spring for the regulation of algorithmic and high-frequency trading.
The new release also introduces system-based risk management by automatically deleting quotes and orders from designated sponsors when a certain threshold is exceeded within a pre-defined period.
Iceberg orders were previously only valid for one day; they will be valid for 360 days with Release 14.0. Access for trading participants has also been improved via the FIX Gateway interfaces and the Enhanced Transaction Solution, and more information is now available in this way.
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