MARKETS NEWS
Wed May 1, 2013 07:20 AM CDT

WASHINGTON (Dow Jones) -- The head of the Commodity Futures Trading Commission said the false tweet that temporarily sent markets diving last week highlights the need for the agency to move forward on new oversight of high-speed traders.

CFTC Chairman Gary Gensler, speaking Tuesday, said he hopes the commission can finish a draft policy paper in the next month or two that could help guide future regulation. The commission has been working "for many moons" on the paper about risk controls and safeguards for automatic trading, Gensler said.

In addition to new rules, Gensler said the CFTC needs more funding ...

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