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CFTC’s Gensler calls algorithms ‘rote, even dumb’

Posted on 21 May 2010

From Dow Jones: Commodity Futures Trading Commission Chairman Gary Gensler said Thursday that it is important to have market circuit-breakers in place because preprogrammed algorithms can be “dumb” and may need to be readjusted if the markets are volatile.

Gensler told lawmakers at a Senate hearing Thursday that the CFTC is considering whether new rules may be in order for algorithmic trading as it continues to examine the role it may have played in the May 6 market plunge……………………………………..Full Article: Source


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