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Regulator Pledges to Keep Secrets for High-Frequency Traders

The U.S. regulator for derivatives said it will look after high-frequency traders’ code once planned new rules oblige them to share their algorithms with the authorities.

High-speed firms Hudson River Trading LLC and CTC Trading Group LLC both filed public letters earlier this week criticizing the regulations because they give the government easier access to their code. The Commodity Futures Trading Commission wants the ability to examine algorithms to help it determine who to blame when markets crash.