High-frequency trading

High-frequency trading

High-frequency trading (HFT) is a much-discussed trading technology allowing securities transactions to be executed via independently acting, extremely fast and powerful computers. This technology was developed in the course of the advancing technological evolution of the financial markets and already constitutes a significant share of the trading volume on European exchanges today. It thereby renders a key contribution to increasing liquidity in securities trading and reducing spreads. The improved price quality on the markets also benefits companies by way of lower financing costs. High-frequency trading thus plays a major role in efficient and functioning capital markets and bears economic benefits.

However, as with other technological innovations, certain risks such as increased volatility, market manipulations or technical errors cannot be excluded in connection with high-frequency trading. Deutsche Börse Group effectively counteracts these risks posed by high-frequency trading through comprehensive safety measures such as plausibility checks and circuit breakers, thereby safeguarding proper conduct of trading. High-frequency trading has been regulated in Germany since 15 May 2013 by the Act on the Prevention of Risks and Abuse in High-Frequency Trading (High-Frequency Trading Act) and addressed at the European level in the context of the revision of the Markets in Financial Instruments Directive (MiFID). This page contains a number of key elements of the High-Frequency Trading Act plus related links.

Further information

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