German High Frequency Trading Act — Potential implications for HFT firms and other firms using automated trading strategies - .PDF file.
On 30 July 2012, the German Ministry of Finance published a discussion draft bill regarding High Frequency Trading for the German financial services sector in the form of an Act for the Prevention of Risks and the Abuse of High Frequency Trading (HFTA). The new rules amend various German laws to extend their application to high-frequency and algorithmic trading. HFTA is expected to be finalised and in force in Germany as early as March 2013.
Click on the link above to download this Orrick Herrington & Sutcliffe briefing.