Germany is set to become the first nation to enact limits on high-speed trading, the computer-based trading that generates millions of dollars in profits for big banks but also makes financial markets more volatile. The German government approved draft legislation that would require all high-speed trades to be licensed and clear labeling of all financial products traded at high frequency, the New York Times reported. It would also limit the number of high-speed orders, and firms that violate the rules would face fines. The European Union is considering similar legislation that could be adopted across the Eurozone. In other nations, including the United States, lawmakers have proposed a financial transactions tax that would limit high-frequency trades while also raising significant amounts of revenue.