John Lothian News: Reg AT “Precarious, Unwarranted and Unnecessary Risk”

John Lothian News: Reg AT “Precarious, Unwarranted and Unnecessary Risk”
At the CFTC’s Technology Advisory Committee meeting the most contentious aspect of the discussion was whether or not the CFTC should be allowed to look at firms’ computer code for their automated trading systems and hold them in a repository.  Richard Gorelick, co-founder and CEO of RGM Advisors, said it would violate standards of due process.  One comment letter submitted by the Modern Markets Initiative said the rule would “place the trade secrets and intellectual property of algorithmic trading firms at precarious, unwarranted and unnecessary risk.”