China’s stock exchanges plan to impose stricter rules and extra fees on high-frequency trading — one type of controversial trading that has been blamed for fueling market turmoil this year.

The stock exchanges in Shanghai, Shenzhen and Beijing each released draft rules on Friday for program trading — which includes quantitative trading, whereby investors employ mathematical models and algorithms to make trading decisions and execute transactions. The rules, which are similar on the three bourses, are open for public comment through Friday.


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