Following a review of the impact of growth in electronic
trading on its trade practice surveillance programme, Commodity
Futures Trading Commission (CFTC) is considering introducing
new requirements for the recording, time-indexing and retention
of telephone calls in which customers place orders for
Speaking at FOW's Asia Pacific Derivatives & Securities
World in Singapore last week, Ananda Radhakrishnan, counsel to
the CFTC chairman, said electronic trading as a percentage of
overall volume at US futures exchanges had grown from 5% in
1999, to 42% last year. Furthermore, electronic trading volume
at Chicago Board of Trade (CBoT) and Chicago Mercantile
Exchange (CME) currently stood at 60% of total volume, while
five new, all-electronic exchanges had been designated in the
last two years.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.