For Immediate Release
'If You Haven't Read The Speed Traders, I Recommend ItHighly'
The Speed Traders: An Insider's Look at the New High-Frequency Trading Phenomenon That isTransforming the Investing World, Published by McGraw-Hill Inc., Highlighted by CFTC CommissionerBart Chilton at High-Frequency Trading Leaders Forum 2011 Chicago
(June 18, 2012 New York) Bart Chilton, Commissioner, U.S.Commodity Futures Trading Commission,, while presenting at GoldenNetworking
All speed traders, HFTs, whatever we want tocall them,
should be registered next year,” he said. In explaining why he
is urgently needed, Commissioner Chilton said: “
Thethird largest trader by volume on the Chicago Mercantile Exchange (CME) is a cheetah based in Prague. That isfine, but shouldn't we know who runs these cheetah firms? Don't we want to know where they are located? Afterall, we have seen many examples of potential financial terrorism. We've seen hackers get into mainframes fromNYSE to Citi to the U.S. Senate. Registration would add a bare minimum of information on cheetahs forregulators. Registration and related due diligence of cheetahs is a step that makes common sense.