[bhasinanant]

Interesting choice to be using CPython. Very impressed with the completeness, and in particular the Risk Engine. Not having delved in too deeply yet, it does have the basics, but the markets are very highly regulated, and automated trading is always in the microscope. At Goldman, my team's whole job was to make sure the automated trading desks have all the checks implemented. It's a little spoilsport, but anyone seriously looking to use this, it's not gonna be very plug and play, at least while comlying with the market regulations.

[hiatus]

I know FINRA has regulations but the CFTC proposed regulations were shelved. Are little guys who are not FINRA members encumbered by regulations here too?

[bhasinanant]

Particularly for India, for example, all algo's have to be pre-approved, and the core principle is that you cannot operate in isolation; your broker is your gateway and your primary point of compliance.

For the US, the SEC and FINRA place the onus on the broker-dealer to supervise all trading activity, including automated trading by retail clients. This includes having risk controls to prevent erroneous or manipulative orders. An individual is not typically required to register their specific algorithm with the SEC, but they are subject to all overarching rules against market manipulation and fraud.

So, end of day, you'll still have to do a ton of back and forth with your broker, to make sure their controls cover your implementation. Not really feasible for the retail trader from the looks of it, regardless of location. But some smaller firms can perhaps utilise it.