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High-Speed Traders Enlist Chilton to Improve Image in Washington

Former U.S. Commodity Futures Trading Commission member Bart Chilton, an outspoken critic of some high-speed trading practices while at the agency, has been enlisted in a Washington-based effort to improve the image of an industry beset by regulatory and legislative scrutiny.

The Modern Markets Initiative, organized by four firms last year, has hired former Bank of America Corp. and Nasdaq OMX Group Inc. executive Bill Harts to lead its efforts, the group said in a statement today. Chilton, now a senior adviser at law firm DLA Piper, was hired to advise on regulatory and public policy, according to the statement.