WASHINGTON, July 12 (Reuters) - A U.S. Commodity Futures Trading Commission technology panel holds its first meeting this week as the agency works to catch up with the fast-moving financial industry it helps regulate.
The CFTC’s technology advisory panel, headed by CFTC Commissioner Scott O‘Malia, will discuss algorithmic and high-frequency trading on July 14. It also is expected to look at issues such as co-location and swap execution facilities in upcoming meetings.
O‘Malia told Reuters last month the U.S. futures market regulator will look hard at whether to impose new rules to limit high-frequency and algorithmic trading strategies that threaten to distort prices. [ID:nN03249720][ID:nN04129392]
The meeting comes as U.S. regulators try to determine the cause of the May 6 stock market “flash crash” and prepare to implement the financial reform bill, which gives the CFTC oversight of the over-the-counter derivatives market.
Below are the members of the technology panel: John Bates Senior Vice President, Chief Technology Officer and Head of Corporate Development Progress Software (PRGS.O) Brenda Boultwood Chief Risk Officer Constellation Energy CEG.N John Breyault Vice President, Telecommunications and Fraud Public Policy National Consumers League Peter Carr Global Head of Market Modeling Morgan Stanley (MS.N) Michael Cosgrove Managing Director-Head of Commodities & Energy Brokerage, North America GFI Group GFIG.O Gary DeWaal Senior Managing Director and General Counsel Newedge USA, LLC Donald Donahue President and Chief Executive Officer The Depository Trust & Clearing Corporation Bryan Durkin Chief Operating Officer and Managing Director, Products & Services CME Group Inc (CME.O) Richard Gorelick Chief Executive Officer RGM Advisors, LLC Michael Gorham Industry Professor of Finance and Director IIT Center for Financial Markets Illinois Institute of Technology Simon Grensted Managing Director, Business Development LCH.Clearnet Jill Harlan Corporate Risk Manager Caterpillar Inc (CAT.N) Douglas Harris Managing Director Promontory Financial Group, LLC Christopher Hehmeyer Vice-Chairman of the Board National Futures Association Steven Joachim Executive Vice President of Transparency Services Financial Industry Regulatory Authority (FINRA) Peter Johnson Managing Director of Futures & Options JPMorgan (JPM.N) Albert Kyle Charles E. Smith Chair Professor of Finance University of Maryland Garry O‘Connor Chief Executive Officer International Derivatives Clearing Group, LLC Michael Ricks Merchandising Manager, North America Cargill Inc. Matt Schatzman Senior Vice President, Energy Marketing BG Americas & Global LNG Thomas Secunda Chief Technology Officer Bloomberg LP Charles Vice President and Chief Operating Officer IntercontinentalExchange (ICE.N) Matthew White Senior Economist ISO New England, Inc. Charles Whitman Chief Executive Officer Infinium Capital Management