A major exchange recently adjusted the fee rate charging cycle. The rule is as follows: if the hourly fee rate remains within the very narrow range of 0.025% to -0.025% for 16 consecutive hours, starting from the 17th hour, the fee deduction changes from once every hour to once every 4 hours.

It sounds great, but for market makers and institutions, it has almost no binding effect. They can slightly manipulate the market up or down, and the fee rate immediately jumps out of this range. The entire rule essentially becomes ineffective. So, ordinary retail investors still follow the same logic—the fee rate can fluctuate as it pleases, and the new regulation cannot change the fundamental nature.