Quote
To curb excessive speculation and protect small investors a fee will be levied on HFT(high frequency trading). The five major exchanges will discuss a rate which will be used across all five platforms.
No more scumbag fake volume? Yes please. 
Topic: Joint statement by 5 chinese exchanges (they will keep operating) - page 2. (Read 2215 times)
It basically means "please don't shut us down, we will be a good boy from now on".
Yes, unless there is some alternate meaning lost in translation, this is not good news.
OK - so what "stop financing new financing currency after currency to pay off all of the facility or stopping leveraged finance trading operations" means? Does that mean that they will stop receiving funds and only let people trade with the money they already have on the exchanges?
I guess that jump today was because of this statement - but if it means what I think it means - then it is in fact bearish.
I guess that jump today was because of this statement - but if it means what I think it means - then it is in fact bearish.
http://www.coindesk.com/five-chinese-exchange-ceos-pull-out-conference/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29
http://www.huobi.com/news/index.php?a=show_notice&id=357[1]
https://www.okcoin.com/t-1008656.html[2]
Google Translated:
Bitcoin trading platform self-declaration
Time: 2014-05-06 13:38:51 Source: Fire coins Network [Huobi]
Will Bitcoin enthusiasts:
From 2009 Bitcoin birth, because of its innovative thinking, math and beautiful design, Bitcoin has developed in the world, many people think that bitcoins as a payment technology that can improve efficiency and reduce costs. Regulatory agencies around the world out of respect for innovation, given Bitcoin suitable for development, China's regulators are also very wisely gave Bitcoin relatively tolerant regulatory environment, and propose their own risk in the five ministries jointly file the case can be traded freely bitcoins.
However, we also see there are some problems bitcoins in China's development, such as prices rose too fast, making the manipulator, the risk of lack of retail tips, etc., has led to the emergence of a number of small investors lost. As Bitcoin trading platform , currently appears on various issues, we do not shirk responsibility. Currently fire coins network, bitcoin China , OKCoin, CHBTC, BtcTrade five trading platform through deep reflection and discussion, decided to take a self-consistent action to promote positive development of Bitcoin.
Our joint commitment:
1, do Bitcoin transaction risk prompts to guide public investment concepts normal
2, do not participate in large marketing organizations and the nature of Bitcoin meetings or gatherings, meetings and lead the industry in the direction of technology development and application of innovative
3, compliance with policies and regulations, in the framework of the operation of legal compliance trading platform before May 10 to stop financing new financing currency after currency to pay off all of the facility or stopping leveraged finance trading operations
4, to curb excessive speculation and protect small investors, for a certain fee levied on high-frequency trading, the five trading platform will then discuss a unified rate
5, to promote transparency in the process of trading platforms, control clearing, settlement risk link
6, comply with the requirements of relevant state departments, strict real-name system certification, tracking suspicious transactions and perform anti-money laundering obligations feedback
7, establish and improve the information disclosure mechanism, so that investors have full right to know
8, regularly take the initiative to report the latest developments in the industry, the risk to the competent authorities, etc.
The following five Bitcoin trading platform for voluntary compliance of the agreement, and agreed to strengthen consultation and actively promote open and transparent Bitcoin transaction, so that bitcoin healthy development in China, and accept the supervision of the parties.
Joint Statement Members: Fire bitcoin currency network [Huobi] China OKCoin CHBTC BtcTrade
Fire currency net May 6, 2014
Attachment:
Charge service fees on high-frequency trading and closed financing currency financial service description
http://www.huobi.com/news/index.php?a=show_notice&id=357[1]
https://www.okcoin.com/t-1008656.html[2]
Google Translated:
Bitcoin trading platform self-declaration
Time: 2014-05-06 13:38:51 Source: Fire coins Network [Huobi]
Will Bitcoin enthusiasts:
From 2009 Bitcoin birth, because of its innovative thinking, math and beautiful design, Bitcoin has developed in the world, many people think that bitcoins as a payment technology that can improve efficiency and reduce costs. Regulatory agencies around the world out of respect for innovation, given Bitcoin suitable for development, China's regulators are also very wisely gave Bitcoin relatively tolerant regulatory environment, and propose their own risk in the five ministries jointly file the case can be traded freely bitcoins.
However, we also see there are some problems bitcoins in China's development, such as prices rose too fast, making the manipulator, the risk of lack of retail tips, etc., has led to the emergence of a number of small investors lost. As Bitcoin trading platform , currently appears on various issues, we do not shirk responsibility. Currently fire coins network, bitcoin China , OKCoin, CHBTC, BtcTrade five trading platform through deep reflection and discussion, decided to take a self-consistent action to promote positive development of Bitcoin.
Our joint commitment:
1, do Bitcoin transaction risk prompts to guide public investment concepts normal
2, do not participate in large marketing organizations and the nature of Bitcoin meetings or gatherings, meetings and lead the industry in the direction of technology development and application of innovative
3, compliance with policies and regulations, in the framework of the operation of legal compliance trading platform before May 10 to stop financing new financing currency after currency to pay off all of the facility or stopping leveraged finance trading operations
4, to curb excessive speculation and protect small investors, for a certain fee levied on high-frequency trading, the five trading platform will then discuss a unified rate
5, to promote transparency in the process of trading platforms, control clearing, settlement risk link
6, comply with the requirements of relevant state departments, strict real-name system certification, tracking suspicious transactions and perform anti-money laundering obligations feedback
7, establish and improve the information disclosure mechanism, so that investors have full right to know
8, regularly take the initiative to report the latest developments in the industry, the risk to the competent authorities, etc.
The following five Bitcoin trading platform for voluntary compliance of the agreement, and agreed to strengthen consultation and actively promote open and transparent Bitcoin transaction, so that bitcoin healthy development in China, and accept the supervision of the parties.
Joint Statement Members: Fire bitcoin currency network [Huobi] China OKCoin CHBTC BtcTrade
Fire currency net May 6, 2014
Attachment:
Charge service fees on high-frequency trading and closed financing currency financial service description
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