Reg AT's Source Code Proposal Remains Lighting Rod

Panelists at the North American Buy-Side Technology Summit 2016 discussed the merits of the source code portion of Reg AT.

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Regulation round table at North American Buy-Side Technology Summit 2016.

Regulation Automated Trading (Reg AT) was proposed almost a year ago by the Commodity Futures Trading Commission (CFTC), but that hasn't mellowed the reaction the rule gets when the discussion turn toward the source code section of the regulation.

Reg AT, as covered in a previous issue of Waters, aims to, in the broadest of terms, regulate algorithmic trading. Part of the regulation, as it stands now, requires firms to maintain a source code repository that would house their algorithms and be o