Prawne implikacje wykorzystywania sztucznej inteligencji w handlu algorytmicznym na rynku kapitałowym
Legal Implications of Using Artificial Intelligence in Algorithmic Trading in the Capital Market

Author(s): Adrian Żądło
Subject(s): Law, Constitution, Jurisprudence, Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: Artificial Intelligence; algorithmic trading; capital market;
Summary/Abstract: The article is focused on the use of artificial intelligence in algorithmic trading in capital markets. The purpose of the study is to answer the questions of whether 1) the existing laws relating to algorithmic trading can successfully regulate such uses; 2) the hypothetical extension application of the draft Artificial Intelligence Act and the recognition of the use of artificial intelligence in algorithmic trading as a high-risk system would increase the safety and stability of the capital market; 3) capital markets law can be a model for other sectoral regulations on the use of artificial intelligence. The research method adopted in the article is the analysis of binding EU legislative and executive acts, the draft of the Act on Artificial Intelligence, as well as the practice of supervisory authorities – the Financial Supervision Authority and the European Banking Authority. The article formulates conclusions de lege ferenda.

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