Skip to content

The Hack That Upended Derivatives Trading Spurs Calls for Action

  • Defenses to ‘keep pace with evolving threats’: CFTC’s Johnson
  • Top US derivatives regulator is seeking to mitigate cyber risk
Updated on

A cyberattack that disrupted derivatives trading in January is prompting calls for more oversight to combat the risk of hacks across financial markets.

The top US derivatives regulator wants to update standards and monitoring systems that will help minimize the frequency and magnitude of hacks. The Commodity Futures Trading Commission is pushing for futures and swaps dealers to exercise more due diligence and oversight of the third-party service providers they work with, and requiring that they have a plan for responding to cyber incidents from the first day.