SEC Boosts Real-Time Trading Analysis, Dubs New System ‘Midas’

The U.S. Securities and Exchange Commission (SEC) is working to implement real-time trading analysis this month. Now the SEC is also looking to hire analysts to help give the system teeth. SEC’s Real-Time Trading Tech: Midas The SEC’s new technology – developed by Tradeworx, based in Red Bank,...

CFTC, Foreign Regulators Issue Joint Statement on OTC Derivatives

The U.S. Commodity and Futures Trading Commission (CFTC) issued a joint statement with foreign regulators today that outlines plans for cross-border rules. The joint statement was signed by regulatory leaders from Australia, Brazil, the European Union, Hong Kong, Japan, Canada, Singapore, and...

CFTC Inundated With Swap Rule Comments

As the comment period for a rule on the extraterritorial application of Dodd-Frank-mandated swap rules draws to a close, the CFTC is receiving a large volume of comments on the rule, the majority of them critical. Although the agency issued interpretive guidance on June 29 that waters down the rule by...

Sloppy algorithms raise ire of Australian ASIC regulators

The Australian Securities and Investments Commission (“ASIC”) released a market report this week which included comments on “problematic algorithms” used in high-frequency trading software. Unlike U.S. CFTC Commissioner Bart Chilton, who has been very vocal about his distrust of the...