27 March 2015

Industry lobby attacks CFTC's surveillance plans

06 August 2014  |  863 views  |  0 Source: FIA

FIA and the FIA Principal Traders Group sent a letter to the Commodity Futures Trading Commission yesterday, urging the CFTC to leverage existing resources as it works to develop a 21st-century surveillance system.

"We appreciate the CFTC's efforts to keep pace with evolving markets," said Walt Lukken, President and CEO of FIA. "The Commission already collects a range of valuable data points, and it has access to even more surveillance data through the exchanges. Rather than creating redundant systems, we believe the CFTC would more effectively enhance its surveillance efforts by increasing its analytical capacity and using existing data to test for cross-exchange abuses."

FIA and FIA PTG detailed five core requirements for surveillance modernization, including:

Continuing the successful practice of delegating "front-line surveillance" to exchanges
Increasing the quantitative and analytical expertise of CFTC staff so as to better understand increasingly complex data
Surveying cross-market activities using existing large trader and daily transaction reports
Avoiding the duplication of existing systems built or commissioned by exchanges
Maintaining data privacy and security

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
Banking has reached a digital tipping poin...
8860 views comments | 50 tweets | 28 linkedin
Six undertakes hackathon talent challenge...
4424 views comments | 9 tweets | 5 linkedin
Google preps Gmail bill payment feature
4073 views comments | 11 tweets | 12 linkedin
Credit Suisse paper offers qualified bitco...
3882 views comments | 4 tweets | 9 linkedin
Barclays and PayPal join Government ID acc...
3703 views comments | 10 tweets | 9 linkedin

Featured job

Competitive
New York City, NY (USA)

Find your next job