high-frequency algorithmic trading technique
as defined in Directive 2014/65/EU of the European Parliament and of the Council of 15 May…, Article 4(1), point (40) (Definitions)
an algorithmic trading technique characterised by: (a) infrastructure intended to minimise network and other types of latencies, including at least one of the following facilities for algorithmic order entry: co-location, proximity hosting or high-speed direct electronic access; (b) system-determination of order initiation, generation, routing or execution without human intervention for individual trades or orders; and (c) high message intraday rates which constitute orders, quotes or cancellations;