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CFTC Staff Clash Over Automated Trading Rules
Staff at the Commodity Futures Trading Commission (CFTC) clashed over the supplemental proposal to the Automated Trading Regulation (RegAT), even though the proposals were ultimately approved today by the Commission. In a meeting in Washington today CFTC Commissioner, Christian Giancarlo, who voted against the proposal, disagreed with Chairman Timothy Massad on a number of issues relating to RegAT. The main point of contention was the access that the proposed rules would give the CFTC to automated trading firms’ source code, which has drawn some strong criticism from market participants and industry bodies throughout this year.

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