The FIA Principal Traders Group issued the following statement today in response to a Nov. 12 joint announcement by self-regulatory organizations in the U.S. equities and options markets regarding efforts to strengthen critical market structure.
“FIA PTG is pleased to see the self-regulatory organizations (SROs) for the equities and options markets coming together and working on practical steps to improve the resiliency of the U.S. markets, and we commend SEC Chair Mary Jo White for her active involvement in this effort. We are particularly pleased to see that the SROs have agreed on basic principles around coordinating and communicating trading halts as well as uniform policies for identifying and canceling trades made in error. FIA PTG strongly supports the harmonization of exchange policies around these important issues. We believe this would go a long way toward reducing the fragility of the current market structure, and we stand ready to work with the SROs as they finalize this important initiative."