United States:
CFTC To Examine New Proposal On Access To High Frequency Trading Computer Code
10 November 2016
Cadwalader, Wickersham & Taft LLP
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The CFTC will examine a supplemental proposal to Regulation
Automated Trading at an open meeting on Friday, November 4, at
10:00 a.m. The new proposal would modify a previous proposal to
give the CFTC access to the complex computer code that drives
high-frequency trading firms' trading decisions.
Under the supplemental proposal, the CFTC would gain access to a
trading firm's algorithmic computer code through a
"special call" that is commonly used by the agency's
surveillance staff to monitor trading. This would replace a
previous proposal that would have allowed CFTC staff to demand
access to a trading firm's proprietary source code.
The content of this article is intended to provide a general
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about your specific circumstances.
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