%0 Journal Article
%T 高频交易对金融市场的影响分析<br>Analysis of the Impact of High-Frequency Trading on Financial Markets
%A 骆甜甜
%A 刘成志
%J Statistics and Applications
%P 934-942
%@ 2325-226X
%D 2024
%I Hans Publishing
%R 10.12677/sa.2024.133095
%X 高频交易以其快速和大量交易的特点在海外金融市场日益普及，为技术投资者带来便利，但滥用行为也对市场造成巨大冲击。2023年9月5日，证监会加强对高频交易的监管，以遏制过度投机。基于沪深300指数2014~2024年的交易数据，本文利用GARCH模型分析监管后金融市场相关指标的变化，分析了高频交易对金融市场的影响。结果显示，高频交易虽然能促进市场流动性，但也会对市场稳定性产生消极影响，过度交易增加市场波动率和不确定性。<br />
High-frequency trading, characterized by its speed and large volume of transactions, has become increasingly popular in overseas financial markets, providing convenience for technical investors. However, abusive practices have also caused significant impacts on the market. On September 5, 2023, the China Securities Regulatory Commission strengthened its supervision of high-frequency trading to curb excessive speculation. Based on the trading data of the China Securities Index 300 from 2014 to 2024, this paper utilizes the GARCH model to analyze the changes in relevant financial market indicators after the regulation. It examines the impact of high-frequency trading on the financial market. The results show that while high-frequency trading can promote market liquidity, it harms market stability, and excessive trading increases market volatility and uncertainty.
%K 高频交易，金融市场，GARCH模型，市场监管<br>High-Frequency Trading
%K Financial Market
%K GARCH Model
%K Market Regulation
%U http://www.hanspub.org/journal/PaperInformation.aspx?PaperID=90794