Overview

• Ready brokers may activate retail algo services from October 1, 2025 under the new framework.
• By October 31, brokers must register at least one product and one strategy with exchanges, with broader registrations due by November 30.
• Brokers must complete at least one fully functional mock trading session by January 3, 2026 and submit proof to exchanges.
• Brokers that miss milestones will be barred from onboarding new retail API‑algo clients starting January 5, 2026.
• Exchanges will monitor compliance, and brokers not going live on October 1 must disclose client counts as of September 30, 2025.