The Commodity Futures Trading Commission is on the hunt for new technology talent to bring the regulator into the 21st century, a leading commissioner at the US watchdog has told Financial News.

Speaking on the sidelines of the Futures Industry Association conference in Singapore, Scott O'Malia, one of the CFTC's most senior commissioners, said the regulator was hamstrung by a lack of staff capable of handling the vast volumes of trading data it now receives as a result of new derivatives trading rules.