CFTC Commissioner Chilton Delivers "Hot Mess" Statement to the Technology Advisory Committee

CFTC Commissioner Bart Chilton delivered a brief statement titled "Hot Mess" to the CFTC Technology Advisory Committee in which he called technology in the financial markets "way cool." He then reiterated his concern that high-frequency traders, whom he referred to as "cheetah traders," might use technology in ways that led to bad results. Chilton also said that a number of technology issues should be addressed, including:

• testing;
• kill switches; and
• prohibiting wash sales.

See: Text of Chilton's Statement: "Hot Mess".See also: CFTC Commissioner Chilton's Keynote Address on "Market Cheetahs" (June 24, 2013); CFTC Commissioner Chilton's Advocates for Regulation of Massive Passives and E-Traders (with Lofchie Comment) (April 30, 2013).