Futures exchanges would be expected to create defences against disruptive technology failures, but might not have to upgrade current policies under a proposal issued by the US derivatives regulator.

The proposal from the Commodity Futures Trading Commission, approved on 25 June on a 4 to 1 vote, would establish new principles for risk management, but largely relies on exchanges such as those owned by CME Group and Intercontinental Exchange to decide how to comply with them. The plan breaks with a stricter approach proposed in 2015 when the agency was under Democratic control. The earlier proposal would have placed more large trading firms under comprehensive oversight, including a requirement to furnish to regulators the computer code driving trading decisions.