U.S. lawmaker calls for CFTC probe into high-speed oil trading

U.S. lawmaker calls for CFTC probe into high-speed oil trading

U.S. lawmaker calls for CFTC probe into high-speed oil trading

(Reuters) – A U.S. lawmaker on Wednesday asked futures regulators to probe the larger effects of high-speed trading in the oil markets after crude futures prices took a brief unexplained plunge earlier this week.

Representative Edward Markey, a Democrat, asked the Commodity Futures Trading Commission to expand its review of the rapid price drop to include the larger effects of high-frequency trading. The congressman from Massachusetts is the ranking member of the House Committee on Natural Resources.

“If large Wall Street computers are effectively running our oil markets, this high-frequency trading ‘cheetah’ technology may really be nothing more than ‘cheater’ technology,” Markey said in a letter to CFTC Chairman Gary Gensler.

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About yocijourney

God does not play dice
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