The French AMF published on 5 April 2012 its position based on the ESMA's orientations dated 24 February 2012 on automatised trade facilities, in particular for high-frequency trading.  

These guidelines, based on the provisions of the Markets in Financial Instruments Directives (MIFID) and market abuse directives will come into force on 7 May 2012, and relate to the organisation of the electronic trade facilities, the preservation of a fair and orderly negotiation within an electronic trade facility and the prevention of market abuses.  

These guidelines will apply to (i) operations on an electronic trade facility on a regulated market or a multilateral trading platform, (ii) algorithmic trading by an investment company and (iii) the supply of direct and sponsored access to market by an investment company in relation to execution of third party orders.