The Commodity Futures Trading Commission on Monday extended to May 1 the comment period for its supplemental Regulation Automated Trading proposal.
The original comment period for the proposal was to expire Tuesday.
The supplement to what is known as Reg AT, which would require money managers to disclose their algorithmic codes to the agency, had been approved by the commission Nov. 4.
Reg AT was originally proposed in December 2015 and would require the registry of any algorithmic codes used in derivatives trading, and defined whether the codes’ creators or those firms using them would be subject to the rule. The supplemental proposal specified that money managers would be responsible for disclosure; it also would reduce the level of risk controls to avoid burdening smaller market participants and create a minimum trading volume test for compliance.
“The CFTC recognizes the broad range of topics addressed in the supplemental proposal and the number of questions within it,” according to a news release from the CFTC.