“There are concerns about operational risk: will a fat finger or faulty algorithm cause a sudden spike? And there are questions about fairness: will market participants who do not operate at the speed of light get a fair shake? There are also questions about how these changes in market structure may affect liquidity.” The rule proposals are expected to be issued this fall and be open for public comment before finalisation. http://www.ifre.com/cftc-set-to-propose-algo-trading-rules/21215620.article
Well, if the exchanges and the NFA won't address it maybe the CFTC should. And I'm sure that Senators Dick Durbin and Charles Schumer will lead the arm twisting on behalf of their check writing constituency and any legislation which manages to see the light of day (doubtful) will be very milk toast.