Thursday, November 6, 2014 at 1:00 PM
T1:00C Best Practices in Developing and Operating Automated Trading Systems
Boulevard, 2nd Floor
After the Flash Crash and the Knight Incident, regulators around the world have been examining every aspect of the implementation of automated trading strategies. The FIA has developed a series of white papers addressing various aspects of direct market access and system development. Currently the Market Technology Division of FIA is sponsoring a broad-reaching committee effort to update best practices and enhance the codification of best practices from system trading controls, responses to trading interruptions, post execution processes and controls, co-location, business continuity, software development, testing, deployment, change management, operational support and system documentation. The results of this effort will lead to a standard that can be applied across the globe and asset classes. It is hoped that the adoption of such a standard will assist regulators in developing guidelines that are consistent across the globe and reflective of practical reality.
James Moran, Executive Director, Global Markets Regulation, CME Group
Ben Morof, Associate General Counsel & Chief Compliance Officer, Teza Technologies