Impact Of Regulation On Technology On The 21st Century Essay

1517 Words Dec 1st, 2016 7 Pages
Regulation needs to occur in regards to innovative technology but also trade technology specifically. Trade has moved on with the advancement of technology to make trade easier. To stay in the past with our current policies would be nonsensical. If companies and their methods are advancing, the rules of the game must also advance with them. The policies and regulations from the CFTC “…have stayed pretty much the same. Most of the CFTC’s rules were written for 20th century analog markets” (Speeches). It might have been effective in the 20th century but now it cannot stay. Keeping the same rules for a different game will only result in unfair play. Updating the policy will keep the system in check. Even if updating means having to rethink the amount of force necessary to confiscate code, it might have to be considered because source code plays a big role in 21st century trade. In essence, “Regulation AT is a 20th century analog response to the 21st century digital revolution in trading markets”(Speeches). In order to stay on top of the trade markets, regulation AT needs to be modernized and revamped into a more effective plan for the environment it wishes to take on.
I focus on the CFTC’s regulation because that is a regulation that directly focuses on the commodities that are being traded through automation unlike other institutions with broader jurisdiction and policy directed towards protecting other areas of the financial industry. However, there are other forms of…

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