FEDERALhearing transcript

Congressional Hearing on CFTC Automated Trading Rules

Original title: EXAMINING THE CFTC'S PROPOSED RULE: REGULATION AUTOMATED TRADING

January 1, 2016

financial regulation automated trading derivatives markets CFTC market oversight

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The Frame

What this does

This hearing addresses the regulatory framework for high-frequency and systems, which directly impacts the stability, speed, and cost of markets used by farmers and businesses to manage financial risk.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Derivatives market participants

These entities must comply with new oversight and technical requirements for automated trading systems if the proposed rules are finalized.

Commodity Futures Trading Commission

The agency is responsible for drafting and enforcing the proposed regulatory framework.

What changed

Last recorded activity January 1, 2016.

What's next

Next step not available in the current record.

Summary

The House Committee on Agriculture held a hearing on July 13, 2016, to examine the Commodity Futures Trading Commission's (CFTC) proposed regulations for in markets. The session featured testimony from industry experts and market participants regarding the impact of these proposed rules on market stability and efficiency.

Key Facts

The hearing took place on July 13, 2016, in the Longworth House Office Building.
The subject of the hearing was the CFTC's 'Regulation Automated Trading' (Reg AT) proposal.
The committee reviewed the implementation of Title VII of the Dodd-Frank Act regarding derivatives markets.
Witnesses included representatives from the Futures Industry Association, RGM Advisors, CME Group, and Trading Technologies International.
The American Gas Association submitted a statement for the record.

Frequently Asked Questions

What is 'Regulation Automated Trading'?

It is a proposed rule by the CFTC intended to oversee and regulate the use of automated and algorithmic trading systems in the markets.

Why was this hearing held?

To allow the House Committee on Agriculture to examine the potential impacts of the CFTC's proposed rules on market participants and overall market function.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Post-Dodd-Frank Regulatory Evolution

The hearing highlights the ongoing effort to refine Title VII implementation years after the initial passage of the Dodd-Frank Act.

Commodity Futures Trading Commission

Connected Entities

organizationHouse Committee on Agriculture“The committee conducting the hearing”Map →

personGregory John Wood“Witness representing the Futures Industry Association”Map →

personMichael G. Ryan“Witness from Trading Technologies International, Inc.”Map →

organizationCommodity Futures Trading Commission“The federal agency proposing the automated trading regulations”Map →

personAndrew Vrabel“Witness from CME Group, Inc.”Map →

personK. Michael Conaway“Chairman of the House Committee on Agriculture”Map →

personRichard Gorelick“Witness and CEO of RGM Advisors, LLC”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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