SEC proposes rule to strengthen exchange technology

04/10/2013 | Bloomberg

The proposed Regulation Systems Compliance and Integrity mandate from the Securities and Exchange Commission would govern testing, disaster preparedness and software development, and would require brokers and exchanges to coordinate tests to demonstrate their disaster-recovery readiness. "It's a warning shot,” said Matt Samelson of Woodbine Associates. "The rule says generally firms need to have more organization around how they're administering and running their systems and testing."

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