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1 results

  • 16 - Adequately Supervising the Overseers of Algo Bots

  • Gregory Scopino, Georgetown University, Washington DC
  • Book:
    Algo Bots and the Law
    Published online:
    02 October 2020
    Print publication:
    15 October 2020, pp 391-410

  • Summary

    If I were to paraphrase the legal concept outlined in this chapter with a slogan, it would be this: “Keep a watchful eye on your computerized trading systems because oversight failures and carelessness can lead to culpability.” This chapter analyzes a potential way to hold firms accountable for the actions of algo bots despite the fact that trading bot software programming cannot – in many circumstances under existing law – provide sufficient evidence of the culpable mental states required by causes of action for financial fraud and price manipulation. As discussed earlier, the majority of trading decisions in large segments of the futures markets are made by ATSs and related algo bots acting without specific human direction.