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FIA PTG Responds to B3 Public Consultation on Cross Orders

FIA PTG Responds to B3 Public Consultation on Cross Orders

1 February 2019 4:30pm EST

Today FIA PTG responded to the Brasil, Bolsa, Balcão - B3 Exchange, public consultation on a change to the rule for registration of cross orders in the exchange environment. FIA PTG said that while we support B3’s efforts to make the cross order rules consistent across the Markets, and we support clear cross order rules that are consistently enforced, we believe the Proposal’s retail broker preferencing mechanism would badly damage the health of the Markets, perpetuate a conflict of interest, and ultimately harm the investors that trade on the Markets. The Markets have been served well by current rules which encourage open and fair price competition among all market participants in central limit order books. 

The full letter is available here.

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