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    <title>Orders per second limit and requirement of empanelment of system auditors for algorithmic trading in commodity derivatives</title>
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    <description>Exchanges shall set an orders per second limit (X) for algorithmic trading per CTCL ID/ATS User ID within the regulator&#039;s maximum, measured over a rolling five second window; exchanges must impose and disclose economic disincentives for breaches and ensure limits match their capacity. The requirement that system audits be performed by auditors empanelled by exchanges is deleted; exchanges must notify members and publish the provisions.</description>
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