The CFTC commissioner has criticised the US futures regulator for lacking a technology plan
Commissioner Scott O’Malia believes the
Commodity Futures Trading Commission (CFTC) is inept in the
oversight of high speed automated trading due to a lack of a
strategic technology plan, writes Joe
O’Malia has on many occasions voiced his
discontent over the technological inabilities of the US
derivatives watchdog, and in response to the controversial
debate over high frequency trading (HFT) following Michael
Lewis’s book, he believes the CFTC systems cannot
"I do not believe that the Commission’s systems
are adequate to oversee today’s fast and complex
derivatives markets," said O’Malia.
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