FIA European Principal Traders Association (FIA EPTA) represents Europe’s leading Principal Trading Firms. Our 24 members are independent market makers and providers of liquidity and risk transfer for exchanges and end-investors across Europe. We work constructively with policymakers, regulators and other market stakeholders to ensure efficient, resilient, high-quality financial markets.
Advocating for fair, transparent and competitive capital markets that enable efficient access to liquidity for end-investors to ensure sustainable economic growth.
About Principal Trading Firms
Principal Trading Firms are independent firms which provide liquidity in equity, fixed income, FX, and commodities markets. The products they trade include cash products, ETFs, futures, and options. All of FIA EPTA’s members are MiFID II investment firms.
Data-driven, innovation-oriented, and nimble, Principal Trading Firms are a catalyst for choice and competition in European capital markets. They help create a more resilient and diverse capital market ecosystem where end-investors can achieve their investment and risk management goals safely and efficiently.
Principal Trading Firms use their own capital to act as market makers and liquidity providers – they buy and sell financial instruments for their own risk and do not manage funds for third parties.
Principal Trading Firms transact through regulated marketplaces and their trades are clearing member guaranteed which significantly limits risks to the market. Our member firms are technology-driven and use highly sophisticated, proven, advanced risk management techniques. This enables them to provide liquidity on a sustainable, continuous, real-time basis across a great variety of products and markets throughout Europe. As a diverse and highly competitive community, Principal Trading Firms help to level the playing field and:
- Improve price discovery and price formation for end-investors
- Reduce volatility in the markets
- Provide liquidity and immediate risk transfer to end-investors across Europe
- Lower transaction and post trade costs for the end investor
- Create transparency for all market participants
FIA EPTA members are strong supporters of market transparency as this leads to better functioning and more robust capital markets.
Through their continuous commitment to providing liquidity, Principal Trading Firms help ensure that end-investors can buy or sell shares, options, futures and ETFs in all market conditions.
In serving as the voice of European principal traders, the Association:
- Actively monitors regulatory and legislative developments, giving members access to high-quality and up-to-date regulatory intelligence
- Voices industry opinions and provides constructive input to all relevant legislators and regulators, whether in Brussels, at the European Supervisory Authorities, or in national jurisdictions
- Actively engages with other market stakeholders, including trade bodies, key market participants (such as sell side, buy side, market operators, vendors) and the financial and business media
- Promotes the standing of member firms from across Europe to create a better understanding of trading practices and the added value principal traders have for overall market quality
- Operates in Europe with independent governance under the FIA umbrella
We believe a joint approach by principal traders increases the impact of advocacy in a dynamic regulatory landscape.
FIA EPTA encourages the involvement from our members to create an active network and community. Members underwrite the principles of FIA EPTA, which stipulate the common outlook and high-level objectives and commitments of its members.
The support of these principles allows FIA EPTA to operate effectively through working groups and committees in order to reach a consensus. These include:
- Prudential Regulation
- Market Structure
- Digital Assets
- Brexit and Cross Border Issues
- Sustainable Finance
For more information about the benefits of joining FIA EPTA please download our Membership Guide.
The FIA European Principal Traders Association operates as an affiliated organisation of the Futures Industry Association.
The FIA EPTA has its own governance structure. The management and control of the association is under the direction of the FIA EPTA executive committee. The Executive Committee is composed of representatives of principal trading member firms. Officers of the executive committee include a chairman and a vice chairman. The executive committee and officers are elected at the FIA EPTA’s annual meeting. A firm may have no more than one representative on the executive committee.
The FIA EPTA’s Executive Committee consists of:
- Diederik Dorst (All Options B.V.)
- David Furlong (Virtu Financial LLC)
- Niels Lemmers (Flow Traders B.V. and Vice Chair)
- Emma Lokko (Susquehanna International Group Limited)
- Alistair McGrath (Tower Research Capital Europe Limited, Chairman)
- Jackie Mesa (FIA)
- Ed Monrad (Optiver VOF)
- Virginie Saade (Citadel Securities Europe Ltd.)
- Piebe Teeboom (Secretary General - non-voting member)
The FIA EPTA will operate under the governance structure of FIA. FIA is governed by a 30-person board of directors that includes representatives from more than 15 primary member firms, the chairman of FIA EPTA is a board member of FIA. The FIA board sets the agenda of FIA and oversees and coordinates the activities of the FIA EPTA.
Amsterdam office address
Gustav Mahlerplein 105-115, 27th floor, 1082 MS Amsterdam
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