Orders per second limits for algorithmic trading increased, allowing higher OPS subject to infrastructure capacity and SEBI approval. Permits Stock Exchanges to set the per CTCL ID/ATS User ID Orders Per Second (OPS) limit up to one hundred and twenty orders per second, measured over a rolling five second window (five times the per second limit for each overlapping interval). Exchanges must prescribe economic disincentives for excess orders and ensure limits match system capacity. Further relaxation requires infrastructure upgrades demonstrating trading system capacity at least four times peak order load and SEBI approval; the revision is effective April first, two thousand twenty two.
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Provisions expressly mentioned in the judgment/order text.
Orders per second limits for algorithmic trading increased, allowing higher OPS subject to infrastructure capacity and SEBI approval.
Permits Stock Exchanges to set the per CTCL ID/ATS User ID Orders Per Second (OPS) limit up to one hundred and twenty orders per second, measured over a rolling five second window (five times the per second limit for each overlapping interval). Exchanges must prescribe economic disincentives for excess orders and ensure limits match system capacity. Further relaxation requires infrastructure upgrades demonstrating trading system capacity at least four times peak order load and SEBI approval; the revision is effective April first, two thousand twenty two.
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