Yesterday the Chairman of the US Commodities Futures Trading Commission (CFTC), J. Christopher Giancarlo, gave a
keynote address at FinTech Week at Georgetown University Law School. In the speech, Giancarlo highlighted the role of distributed ledger technologies (DLT) in both trading and compliance.
Giancarlo’s talk only touched on DLT. The primary focus was on big data, automated analysis and artificial intelligence (AI). Particularly the ability to glean insights as a regulator from ever-expanding data lakes.
Talking about the increasing automation of markets, the chairman said: “As we think about the application of these technologies to trading markets, it is no leap of the imagination to consider how automation could help reduce cost and bring efficiencies to trade matching, processing, and clearing and settlement. Indeed, when paired with systems inspired by DLT that standardize and distribute data to market actors – and even regulators – we begin to see a world where the majority of standard tasks are managed by machine.”
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