The New German Rules on High Frequency Trading

June 27, 2013

The German Federal Parliament adopted a bill on February 28, 2013, setting forth detailed rules and provisions dealing with so-called “high frequency trading.” Rather than being enacted on a stand-alone basis, the high frequency trading rules will be integrated into, and amend, existing statutes, such as the German Securities Trading Act, the German Banking Act, and the German Stock Exchange Act and will supplement existing provisions regulating (i) trading with financial instruments, (ii) the operation and functioning of stock exchanges and other trading venues, and (iii) the provision of services related to the trading in financial instruments. The high frequency trading rules came into force on May 14, 2013.

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