Can an agreement which is formed purely through the operation of algorithms be considered a binding contract? If so, can such a contract be unilaterally cancelled because of a mistake, where such mistake resulted in trades being concluded at 250 times the market rate?
The SICC and SIDRA recently concluded a thought leadership event on dispute resolution options for trust disputes. The key issue was: given the increasing prevalence of alternative forms of dispute resolution (“ADR”), why was there still uncertainty as to whether trust disputes were amenable to ADR (and in particular, arbitration)? The distinguished panellists provided a stimulating discussion of the various conceptual and practical difficulties faced in submitting trust disputes to arbitration.