The SEC’s proposed Regulation SCI is intended to protect market technology from outages and technical glitches. But industry commentators contend the rule doesn’t include all market participants and underestimates the implementation costs. Here are five areas that market participants would like to change.
In an attempt to fix the plumbing of the global financial markets under Dodd Frank with a unique identification code for swaps and counterparties, technology has been an afterthought, writes Allan Grody, President of Financial InterGroup Holdings LLC.
As electronic trading in OTC derivatives takes place on swap execution facilities, market participants will increasingly rely on technologies like smart order routing, algorithmic trading, market making order management, and DMA, writes SunGard Front Arena's Tim Dodd.