CFTC Pushes Forward with Reg AT, Source Code Provision as Giancarlo Dissents

Commissioner J. Christopher Giancarlo issued a scathing rebuke of the proposal's source code provision.

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J. Christopher Giancarlo, CFTC Commissioner

You might not expect English common law, the US Bill of Rights, and Ben Franklin to be evoked in a discussion about algorithmic trading, but that's where CFTC commissioner J. Christopher Giancarlo's argument against Regulation AT ended up.

In a 2–1 vote—with Giancarlo voting no, and chairman Timothy Massad and commissioner Sharon Bowen voting in favor—the CFTC approved the "Supplemental Notice of Proposed Rulemaking—Regulation Automated Trading." The body will now publish the Supplemental

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FCA declines to directly regulate market data prices

A year-long investigation by the UK regulator to determine whether competition is hindered in the wholesale data markets has concluded with its decision not to directly regulate much-maligned data pricing and licensing structures.

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As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

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