The Commodity Futures Trading Commission took its first concrete step toward boosting oversight of rapid-fire traders, advancing plans to increase controls of computerised trading after a series of market glitches.
The CFTC on November 24 voted, 3-0, to propose requiring about 100 trading firms to register with the agency and adhere to a series of risk controls aimed at ensuring their computer systems are less susceptible to disruptive breakdowns.
