CFTC Cancels Public Meeting On Algo Trading - Cites Inclement Weather As Reason

The US Commodity Futures Trading Commission (CFTC) announced today that it has canceled the proposed public meeting which was scheduled to be held by the CFTC's Technology Advisory Committee in Washington today in order to discuss methods by which to evolve the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of automated trading, high-frequency trading (HFT), and swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term facilities (SEFs) within the United States.

In a very brief notice provided by the CFTC, it was stated today that the severe weather conditions in the Washington Metropolitan area had been sufficient to warrant cancelation, however the regulatory authority has not issued a date on which the Technology Advisory Committee intends to reconvene in order to discuss these matters, nor has a notice been issued to advise that it will reschedule the meeting.

With the recent implementation of the Volcker Rule in North America, proprietary trading has become somewhat restricted among banking entities, but FX trading desks are currently exempt, therefore giving rise to a notion that the national regulators are showing less hostility toward the practice of HFT, algorithmic trading and firms which trade on their own account within the institutional FX sector than those which do so in Europe.

In this case, the harsh weather conditions in the North East may well be impeding the ability to travel, but are in no way impeding North America's long established and highly advanced algorithmic trading desks, at least for the time being.