House Agriculture Committee Examines CFTC’s Reg AT
Today, the House Agriculture Committee held a hearing to examine the Commodity Futures Trading Commission’s (CFTC) proposed
“Over the past three decades, computers have revolutionized the way we do business – including how trading is conducted in financial markets. Computer networks have slowly replaced traditional trading pits, often eliminating the human element altogether. With that comes the challenge of appropriately regulating these markets. While the intent of Reg AT is to reduce the risk of market disruptions and increase the transparency of algorithmic trading systems, this rule falls short of the CFTC’s goals. I am concerned that Reg AT could expose the intellectual property of market participants and unintentionally subject end-users to its prescriptive mandates. It is my hope that the Commission will reconsider the broad scope and sweeping requirements of this rule,” said Chairman Conaway.
Mr. Greg Wood, Chair, FIA Market Access Committee, Washington, DC
Mr. Richard Gorelick, Chief Executive Officer, RGM Advisors, LLC, Austin, TX
Mr. Andrew Vrabel, Executive Director, Global Investigations, CME Group, Chicago, IL
Mr. Michael Ryan, Executive Vice President and General Counsel, Trading Technologies International, Inc., Chicago, IL