Search

Equity Market Structure

FIA PTG advocates for open access to markets, transparency and data-driven policy and regularly engages on equity market structure issues in pursuit of these goals.

  • FIA PTG responds to Nasdaq Cabinet Proximity Option Program Proposals

    In a letter filed with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) urged the SEC to disapprove Nasdaq’s proposed rule changes to Expand the Cabinet Proximity Option Program and to Establish a Reservation Fee. FIA PTG raised three principal concerns with respect to the Proposed Rule Changes all in connection with Nasdaq’s existing data center facilities in Carteret, NJ (NY11) and Nasdaq’s new facility under construction just to the north of NY11 (NY11-4).

    CONTINUE READING

  • FIA PTG responds to SRO CAT Fee Filings

    In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) urged the SEC to disapprove the self-regulatory organizations’ (“SRO”) proposed rule changes to Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail (the “CAT Fee Filings”) incurred by the SROs prior to January 1, 2022.

    CONTINUE READING

  • FIA PTG Responds to SEC Volume-Based Exchange Transaction Pricing Proposal

    In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) opposed the SEC's Volume-Based Exchange Transaction Pricing Proposal and urged the SEC not to move forward with finalizing it. FIA PTG said that exchange volume-based pricing tiers are just one small piece of the much larger transaction pricing picture, and that tweaking one piece of the pricing puzzle is unlikely to generate the results the Commission is looking for.

    CONTINUE READING

  • FIA PTG responds again to SEC Dealer Definition Proposal

    In a letter filed with the Securities and Exchange Commission, the FIA Principal Traders Group (FIA PTG) offered additional comments on the SEC's Definition of a Dealer proposal. FIA PTG said that while it appreciates the importance of the proposal's stated goals to prevent market disruptions and support market transparency, integrity, resiliency, and investor protection, it fails to see how this proposal addresses any of those issues in a meaningful way.

    CONTINUE READING
Access the full archive of Equity Market Structure news