Regulatory Alerts2016-11-25 | 2016-27250Added · Updated
Regulation Automated Trading: Supplemental Notice of Proposed Rulemaking
The Commodity Futures Trading Commission proposes modifying its Regulation Automated Trading framework by shifting from a three-level to a two-level risk control structure, allowing AT Persons to delegate pre-trade risk controls to Financial Clearing Members. The proposal introduces a volume-based quantitative test to determine AT Person status and registration requirements, estimating approximately 120 affected entities. It also replaces annual compliance reporting obligations for AT Persons and Financial Clearing Members with streamlined annual certification requirements and revises definitions for Algorithmic Trading and Electronic Trading.
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