Finra: poor controls around HFT a big concern

HFT operational monitoring a real issue

Finra headquarters

Technology getting out of control is the biggest concern with high-frequency trading (HFT), the US Financial Industry Regulatory Authority's (Finra) chief information officer told delegates at the North American Financial Information Summit in New York yesterday. Steve Randich said that incidents such as the 2010 flash crash – which saw the Dow Jones Industrial Average plunge 998.5 points and then recover almost as quickly as it fell – are the result of unintended conseq