Raj Mahajan, CEO of Allston Trading, faced a vexing scenario: Regulators increasingly expect firms to be able to explain what traders were thinking at specific times. Such is the state of auditing. For example, "What were you thinking at 12:15 and 22 seconds when you put that order into the marketplace?"
It's a multi-dimensional problem, says Mahajan, who spoke on a panel at Inside Market Data Chicago this week. One has to be able to look at the data and not only understand what was happening in
Anthony and James talk about how regulators in the US are falling behind other nations' regulators, the lack of talk about Reg AT, and an SRO for cryptocurrencies.Subscribe to Weekly Wrap emails