The chair of the Commodities and Futures Trading Commission ( CFTC ) has said he would consider changes to the regulation on automated trading . Timothy Massad said some initial concerns about the scope of the proposals were valid , adding he would endorse limited oversight to two , rather than three , levels . REUTERS/Gary Cameron WASHINGTON (Reuters) - Timothy Massad, the chair of the Commodities and Futures Trading Commission, on Monday said he was willing to narrow a proposal that would govern automated trading. Specifically , he told a conference in New York he " would support requiring risk controls at the market level , and either the trader or FCM ( futures commission merchant ) level " .
The chair of the Commodities and Futures Trading Commission ( CFTC ) has said he would consider changes to the regulation on automated trading . Timothy Massad said some initial concerns about the scope of the proposals were valid , adding he would endorse limited oversight to two , rather than three , levels . Specifically , he told a conference in New York he " would support requiring risk controls at the market level , and either the trader or FCM ( futures commission merchant ) level " .