CFTC Technology Advisory Committee
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The CFTC Technology Advisory Committee is a discretionary or advisory committee for the agency, which is focused on various issues of technology in the futures industry and their impact. The committee, which was re-established in June 2010[1] and renewed in June of 2012[2] holds meetings on various technology topics and makes recommendations to the CFTC. The committee looks at the new technologies used by exchanges as well as by participants and provides advice to the commission on the appropriate level of investment in technology needed by the CFTC to monitor such advances.[3]
History[edit]
The Technology Advisory Committee was originally founded in 1999, however, its registration and usage dropped over the following years. In June 2010, the committee was reinstated after no meetings were held for five years prior.[4][5] [6]
Upon reorganization, the TAC began meeting several times a year to discuss emerging and continuing technology trends and issues affecting market participants. Major topics in 2013 included technology implications of the Dodd-Frank Act and algorithmic and high-frequency trading.
The CFTC met with the TAC after the publication of the Concept Release on Automated Trading in September 2013.
Its agenda items as of 2016 include Regulation AT, swap data standardization and harmonization, cybersecurity and the potential of blockchain and distributed ledger technology to the derivatives market.
Members of TAC[edit]
- Paul Chou, CEO, LedgerX
- Marisol Collazo, CEO, DTCC Data Repository
- Gary DeWaal, special counsel, Katten Muchin Rosenman LLP
- Bryan Durkin, chief commercial officer, CME Group
- Evelyn Fuhrer, Promontory Financial Group
- Richard Gorelick, CEO, RGM Advisors, LLC
- Christopher Hehmeyer, Vice-Chairman of the Board, National Futures Association
- Jeffrey Jennings, managing director, Credit Suisse
- Steven A. Joachim, Executive Vice President of Transparency Services Financial Industry Regulatory Authority (FINRA)
- Pierre Lamy, managing director, Goldman Sachs
- Brad Levy, CEO, MarkitSERV
- Justing Llewellyn-Jones, COO and global head of derivatives, Fidessa
- Clifford Lewis, independent director, Eris Exchange
- John Lothian, CEO, John J. Lothian & Company
- Ben MacDonald, President, Bloomberg SEF and Bloomberg SDRBloomberg LP
- Lee Olesky, CEO, Tradeweb
- Larry Tabb, CEO, TABB Group
- Marshall Terry, COO and chief compliance officer, Rotation Capital Management
- Jeffrey Trahan, Deere & Company
- Supurna VedBrat, managing director, BlackRock
- Charles A. Vice, President and COO, Intercontinental Exchange
TAC Meeting Webcasts[edit]
September 12, 2013
Agenda items:
- Swap data reporting
- CFTC Concept Release on Automated Trading
- Swap Execution Facilities, Made Available to Trade Provision
Part 1
Part 2
References[edit]
- ↑ COMMODITY FUTURES TRADING COMMISSION Reestablishment of the Technology Advisory Committee. Federal Register.
- ↑ Technology Advisory Committee and Renewal of the Committee Charter and Membership. U.S. Commodity Futures Trading Commission.
- ↑ COMMODITY FUTURES TRADING COMMISSION CHARTER OF THE TECHNOLOGY ADVISORY COMMITTEE. CFTC.
- ↑ CFTC Announces Members Of The CFTC’s Technology Advisory Committee – Committee To Meet On July 14, 2010 To Discuss Best Practices For HFT/ALGO. CFTC.
- ↑ CFTC reestablishes Technology Advisory Committee. CFTC press release.
- ↑ CFTC official admits data still collected by fax. FT.