The Futures Industry Association ("FIA") and FIA Principal Trading Group expressed "grave concerns" about provisions for access to source code contained in the CFTC supplemental proposal to Regulation Automated Trading ("Reg. AT").
FIA CEO and President Walt Lukken stated that his organization "cannot support the proposed source code provision." He asserted that the CFTC ignored the "view expressed by a wide range of market participants as well as technology companies outside this industry that access to source code should require a subpoena." Because protections for intellectual property are the rule and not the exception, he argued, protections that apply to source code should be the same:
Source code deserves the same protections under the law as any other form of intellectual property. The proposed special call process simply does not meet that standard.
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