While US regulators struggle with the latest bout of algo-induced turbulence in markets, their counterparts in Asia have been getting ahead of the game.

This week, the Australian Securities and Investment Commission published proposals that would require traders to control and test automated trading systems more rigorously to stop their malfunction disrupting markets. Hong Kong’s market watchdog is already consulting on similar proposals that would mandate annual tests of trading algorithms and require brokers to have systems to shut down erroneous trades swiftly.

Their zeal is striking, given that high-speed trading is still in its infancy in Asian markets, where exchanges are only just starting to face competition from alternative platforms. Yet the region’s regulators are clearly anxious to avoid the problems now bedevilling more developed western markets.