11.3 Role of Technology in Securities Trading (e.g., Algorithmic Trading,Blockchain)

1. The online-and-mobile trading era (the TMS's-and-the brokers' apps; the market-access democratisation — the outage-and-capacity lessons of the bull-market days).2. Algorithmic-and-HFT trading (the speed's arms-race; the surveillance's new demands — the spoofing-and-layering faces of Unit 6.2; the regulatory gates: the SEBON's algo-approval-and- controls debates).3. The blockchain-and-tokenisation frontier (the digital-securities'-and-smart-contracts' theory; the crypto-assets' perimeter battles — Nepal's restrictive stance (the bans-and- warnings regime) against the global experimentation; the regulatory-sandbox idea).4. The RegTech-and-SurTech (the compliance-and-surveillance technology: the anomaly- detection, the reporting's automation).5. The AI faces (the analytics-and-robo-advice; the deepfake-and-market-rumour risks — the information-integrity's newest front). The exam's frame: technology multiplies the market's speed-and-reach; the law's task is the same trust-engineering at the new velocity.