CFTC Commissioner Bowen Talks Reg. AT, Cybersecurity, Governance And Position Limits

CFTC Commissioner Sharon Y. Bowen reviewed the current status of market regulation initiatives on Regulation Automated Trading ("Regulation AT"), cybersecurity, governance and position limits.

In remarks delivered at the Futures Industry Association, BOCA 2017 International Futures Industry 42nd Annual Conference, Commissioner Bowen emphasized that the Regulation AT proposal would require (i) only those firms that use Direct Electronic Access to register if they also "have an average of 20,000 or more trades each day over a six-month period," and (ii) all electronic trading to have "two separate layers of pre-trade risk controls." She called on the CFTC to finalize Regulation AT "later this year."