The following statement can be attributed to the Futures Industry Association Principal Traders Group (FIA PTG) regarding the SEC roundtable:
"Market competition was the goal of regulatory changes in 2005 and as a result, we now have a diverse landscape of markets that utilize different safety measures. Our group has created specific recommendations for a wide range of risk controls that aim to prevent market disruption. The exchange of ideas among industry and regulators has always been essential and, in the wake of Knight Capital, roundtables like this one further ensure that the best safety and soundness tools are widely known and utilized where appropriate.
"The FIA PTG has supported smart regulatory policies that reduce the frequency and impact of error trades and unusual market events,including the creation of circuit breakers and limit-up/limit-down rules. We encourage regulators and the industry to continuously review the landscape for other safety and soundness measures that may be appropriate.
"Today, trading costs are lower, markets are deeper and more liquid, and prices better reflect information about the value of stocks and commodities. Long-term and individual investors are among the primary beneficiaries and these improvements should be preserved as we consider additional market reforms."