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At Treasury Market Confab, Anxiety and Signs of More Oversight

  • SEC and CFTC warn new rules coming, especially for flash boys
  • Wall Street skeptical October 2014 volatility won't reoccur

For about 300 regulators, industry executives and academics who spend at least some of their waking hours thinking about the stability of the $13 trillion U.S. Treasury market, the New York Fed is the place to be this week.

They’re gathered to discuss the evolution of trading, and more importantly, how to prevent the jarring price swings that frayed nerves on Oct. 15, 2014, from happening again. On that day, yields fluctuated in a way that had only happened three other times since 1998 and unlike the earlier incidents, there was no obvious catalyst.