Industry Participants: Regulatory Approval of Algos Doesn't Make Sense

Industry participants who spoke at a recent Futures Industry Association (FIA) conference in New York reject the idea that securities regulators should test algorithms and assign seals of approval—a proposal raised by Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton—instead suggesting this sort of process would be better suited to risk controls, especially pre-trade.

"Algorithms evolve too organically to give a seal of approval," says Matt Haraburda, head of operations at XR

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Waters Wrap: The tough climb for startups

Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.

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