CFTC regulator says open to narrowing automatic trading rule

Timothy Massad, the chair of the Commodities and Futures Trading Commission, on Monday said he was willing to narrow a proposal that would govern automated trading. Massad said he stands behind the idea of adding regulations on automated trading but that some industry concerns about the scope were valid. Specifically, Massad said he could endorse limiting the oversight to two levels, not three as originally proposed.