A group of technology companies, including Facebook Inc., Google Inc. and Apple Inc., opposed the bill because of what it called an “unacceptable loophole that could enable the bulk collection of Internet users’ data.”
Michel Barnier, the bloc’s financial-services chief, will seek permission from the 28 EU governments to postpone by six months a deadline to decide on whether U.S. rules for clearing of swaps are as tough as EU standards.
Sometime after the start of 2007, the CBOT and CME began letting HFTs peek “at all orders to buy and sell futures contracts before they were reflected” to the rest of the market, according to the complaint filed April 11 in federal court in Chicago.
The CFTC and its enforcement division are reviewing trading practices in the futures market to ensure they aren’t manipulative, Wetjen said. The agency is also reviewing relationships between exchanges and trading firms, he said.