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FIA

Global Reach. Regional Expertise.

Mission

Learn more about the mission and work of FIA PTG:

Mission of the FIA Principal Traders Group 

  • Provide a forum for proprietary trading firms to identify and discuss issues confronting the PTG community

  • Define common positions on public policy issues and advance the group’s collective interests through FIA

  • Improve public understanding of the constructive role played by proprietary trading firms in the exchange-traded equities and derivatives markets
  • Promote cost-effective, transparent access to U.S. and non-U.S. markets.

2018 Advocacy Goals

  1. Continued emphasis on relationship building in 2018, with a focus on new senior staff members and Commissioners at the primary agencies (SEC and CFTC) and Treasury.
  2. Continue educational efforts for policymakers on Capitol Hill and at the regulatory agencies/departments about the principal trading market sector in general and about particular issues of interest to our group.
  3. Pursue additional representation on regulatory advisory committees of interest to members.
  4. Continue efforts on Capitol Hill to inform Members and Member offices of our regulatory positions.
  5. Specific regulatory initiatives including:
    • Regulation AT (CFTC) and any other new rules and oversight of automated trading (CFTC and SEC)
    • Rules related to changes in Treasury market structure (Treasury, Fed, CFTC, SEC)
    • Rules related to broker-dealer and FINRA registration requirements for principal trading firms (SEC)
    • Rules related to changes to equity market structure including Regulation NMS (SEC)
    • Engagement with the SEC as the Equity Market Structure Advisory Committee transitions to a roundtable format
    • Monitor the regulatory developments of cryptocurrencies and consider engagement where appropriate (CFTC, SEC, Administration)
    • Engage the CFTC on upcoming proposals related to swap dealer registration
    • Fair access to centrally traded and cleared OTC markets
    • Capital requirements for Swap Dealers and Major Swap Participants and discussion of capital requirements for principal trading firms (CFTC, SEC, and Prudential Regulators)
    • Position limits and aggregation of positions (CFTC)
    • CCP recovery and resolution – variation margin gains haircutting, waterfall, other issues (CFTC)
    • Monitor any developments on transaction tax (Administration)
    • MAT process revisions (CFTC)

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