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Gary Gensler

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. 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

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  5. Speed traders eyed after Twitter hack attack: regulator

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  6. CFTC's Gensler Says Libor Should Be Ditched

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  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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