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Analysis: High speed trading a stiff challenge for U.S. regulators

Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes.The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U.S. market nosedive that ended minutes later when the Associated Press said its Twitter account had been hacked. In 2010 U.S. stocks plunged in a "flash crash" following aggressive sales of stock-index futures by a mutual fund."As technology changes, our financial system and the rules in place need to be resilient," Commodity Futures Trading Commission Chairman Gary Gensler said after the hacked AP Twitter message in late April.At a CFTC hearing last week, the potential dangers became even more apparent. Richard Shilts, acting director of CFTC's division of market oversight, was asked whether the agency could monitor high-frequency trading in real-time."No," Shilts said. "Fr...

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  1. CFTC's O'Malia: Agency's Data on Swaps Market Useless

    The Commodity Futures Trading Commission has requested too much data that it doesn't have the ability to analyze, making it impossible for staff to find the giant J....

  2. CFTC at Odds Over Swaps Deadline for Foreign Banks

    BOCA RATON, Fla.--Commodity Futures Trading Commission members disagree over whether to give foreign banks more time on swaps rules after the agency's July deadline....

  3. Top financial regulators to appear before Senate committee

    Officials responsible for overseeing Wall Street will update lawmakers next week on their progress implementing the 2010 Dodd-Frank financial oversight law, a U.S. S...

  4. Swap Dealers Begin Reporting Data

    Dozens of large financial firms registered with the Commodity Futures Trading Commission Monday and began reporting their swaps transactions, a milestone in the batt...

  5. U.S. gives foreign banks more time on swap rules

    The top U.S. derivatives regulator on Friday gave foreign banks more time to meet new derivative trading rules that had earlier sparked fears that international fina...

  6. U.S. delays derivative rules for foreign banks

    The top U.S. derivatives regulator on Friday granted foreign banks more time to meet new rules for swap trading, saying it would continue to fine-tune the regulation...

  7. Lawmakers Urge Delay of Swap Rules for Foreign Firms

    U.S. House lawmakers are urging the Commodity Futures Trading Commission to give foreign-based banks six more months to comply with new swaps rules."Widespread confu...

  8. Bumpy final stretch in U.S. watchdog swaps overhaul

    On Monday, October 15, top U.S. derivatives regulator Gary Gensler watched a mock ceremony to mark the start of a broad overhaul of the swaps industry that started t...

  9. Wall Street finds a foreign detour around U.S. derivatives rules

    Wall Street banks are looking to help offshore clients sidestep new U.S. rules designed to safeguard the world's $640 trillion over-the-counter derivatives market, t...

  10. Buffett: Dimon is Best for Treasury During a Crisis

    As President Obama mulls a replacement for Tim Geithner, billionaire investor Warren Buffett believes the best person to lead the Treasury Department during a financ...

  11. The Regulators are Coming…for the Tech Industry

    No, these regulators aren't the British on horseback.  Led by the "Four Horsemen of the Acronym" -- outgoing Federal Trade Commission (FTC) Chair Jon Leibowitz, Fede...

  12. Wall Street left to rebuild Obama ties after backing Romney

    Wall Street firms gambled on Mitt Romney and lost.Now, faced with the prospect of even tougher regulations in President Barack Obama's second term, they have to buil...

  1. U.S. regulator to vote on watered-down swap rules

    Big banks are set to gain key concessions as the top U.S. derivatives regulator meets to vote on watered-down rules for swap trading that will chip away at Wall Stre...

  2. EU probes oil majors on price manipulation

    European authorities have raided offices of oil majors Shell, BP and Statoil as part of a probe into suspected manipulation of oil prices, one of the biggest cross-b...

  3. Libor likely to be replaced by a dual-track system: FT

    A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor...

  4. SEC Proposes Easing Overseas Swaps Rules

    The Securities and Exchange Commission voted unanimously Wednesday to give overseas financial firms more leeway in adhering to their home countries' rules governing ...

  5. Speed traders eyed after Twitter hack attack: regulator

    The phony tweet from the Associated Press' hacked Twitter account, which sparked a short-lived panic in the stock market a week ago by saying that President Barack O...

  6. CFTC's Gensler Says Libor Should Be Ditched

    Libor and other benchmark interest rates pose a threat to financial stability and should be scrapped, the chairman of the U.S Commodity Futures Trading Commission sa...

  7. SEC's Walter urges "maximum" reliance on foreign swaps rules

    The top securities regulator is urging international market regulators to find a compromise as they struggle to agree on how to apply new rules for cross border over...

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