At a meeting of the CFTC Technology Advisory Committee, industry representatives considered presentations on automated and modern trading markets, distributed ledger technology and market infrastructure, virtual currencies, and cybersecurity.
The CFTC Office of the Inspector General highlighted significant deficiencies in the agency's Data Governance Program and advised the CFTC to either update the existing Integrated Surveillance System platform or transfer to a better platform.
A futures commission merchant agreed to pay $100,000 to settle CFTC charges that it failed to supervise the implementation of an information systems security program, resulting in the loss of personally identifiable customer information.
The SEC and the FBI offered data protection and risk prevention guidance after unidentified hackers launched a massive cyberattack using ransomware known as "WannaCry" that compromised over 200,000 computers across the world.
At an upcoming meeting, the CFTC Market Risk Advisory Committee will consider Central Counterparty Risk Management Subcommittee recommendations, cybersecurity and performance in the derivatives market.