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of <h1>New Framework to Regulate Algorithmic Trading with Broker Accountability and Investor Protection from 2025</h1> Regulatory authorities have issued a framework to ensure safer participation of retail investors in algorithmic trading through brokers and exchanges. Brokers will act as principals, with algo providers as their agents, and all algo orders via APIs must be uniquely identified and registered if exceeding specified thresholds. Brokers must implement strict access controls, including two-factor authentication and vendor empanelment, and remain responsible for investor grievances and monitoring. Exchanges are tasked with supervising algo trading, including testing, surveillance, and maintaining kill switches, while defining roles and empanelment criteria for algo providers. Algos are categorized as transparent 'white box' or opaque 'black box,' with additional research and registration requirements for the latter. Implementation standards will be developed by industry forums and take effect from October 1, 2025. Exchanges must amend rules and notify stakeholders accordingly to protect investor interests and market integrity.
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