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 " .
The chair of the Commodities and Futures Trading Commission (CFTC) has said he will consider changes to proposed regulation on automated trading. Timothy Massad said some industry 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 exchange level, and either the trader or FCM (futures commission merchant) level".