CFTC Chief Counsel Petal Walker Discusses Reg AT's Source Code Proposal

At this year's Chicago Trading Technology Summit, the CFTC's Petal Walker gave an update on Reg AT's progression and what's at stake for the source code provision.


If you look at comment letters sent to the Commodity Futures Trading Commission (CFTC) or listen to panelists talk at industry events, market participants tend to understand much of the thinking behind the CFTC's Regulation Automated Trading (Reg AT) proposal.

Perhaps 90-95 percent of the rule has at least a fair amount of support, but there's one piece of the regulation that has been universally criticized: the source code oversight provision. Reg AT requires each market participant to keep a

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