CFTC's Massad wants access to automated trader source code

The Commodity Futures Trading Commission is moving forward on a controversial rule to require firms engaged in automated trading to provide access to source code and register what CFTC Chair Timothy Massad said were now the dominant players in markets.

Massad wants access to automated trader source code

Speaking Wednesday in Chicago at the Futures Industry Association (FIA) annual conference, Massad said he was still open to listen to privacy concerns from automated traders, but pledged to move forward with the agency's controversial proposal.

In June the CFTC asked for comments on its 500-page proposal, Regulation Automated Trading, also known as “Reg AT,” which would mandate traders to place their computer source code into a repository so the regulatory could...