FIA PTG News
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FIA PTG joins FIA, CME and ICE in responding to CFTC Request for Comment on AI
In a letter filed with the Commodity Futures Trading Commission (CFTC) today, the FIA Principal Traders Group (FIA PTG) joined FIA, CME Group and Intercontinental Exchange in responding to the CFTC’s request for comment on the uses of artificial intelligence in derivatives markets. The letter commends the CFTC for seeking public input and hopes this is the first of many steps the CFTC will take to better understand any potential, risks, and use cases for AI.
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FIA PTG responds to FICC Rule Change Proposals
In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) responded to the Fixed Income Clearing Corporation’s (FICC) proposals to revise its customer clearing access models and to modify its margin segregation rules.
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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.
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FIA PTG responds to FINRA proposal to further shorten reporting windows for some bond contracts
In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) urged the SEC to reject the Proposal which would reduce the current 15-Minute TRACE reporting timeframe to one minute across certain bond markets.
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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.
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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.
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FIA PTG makes the case for Congressional oversight over CAT funding
FIA Principal Traders Group (FIA PTG) has published an essay calling for Congressional oversight over Consolidated Audit Trail (CAT) funding. FIA PTG cites dramatically spiraling costs – both historical and ongoing, persistent budget overruns, and a model that lacks incentives to manage costs, as the rationale for this appeal.
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FIA PTG supports FINRA US Treasury trade dissemination proposal
In a letter filed with the Securities and Exchange Commission, the FIA Principal Traders Group (FIA PTG) supported FINRA’s US Treasury trade dissemination proposal. FIA PTG also raised concerns with two Treasury market structure proposals currently pending at the SEC – the clearing and dealer proposals.
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FIA PTG responds to Nasdaq PHLX proposal to add additional order types
In a letter filed with the US Securities and Exchange Commission, the FIA Principal Traders Group (FIA PTG) opposed Nasdaq PHLX’s proposal to establish new “Contra Midpoint Only” and “Contra Midpoint Only with Post-Only” order types.
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FIA PTG responds for the third time to FINRA proposal to add IntelligentCross ATS to the Alternative Display Facility
In a letter filed with the US Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) again opposed a proposal to add IntelligentCross ATS as a new entrant to FINRA’s Alternative Display Facility.
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