FIA PTG News
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FIA PTG urges SEC to reject proposed CAT funding model
In a letter filed with the US Securities and Exchange Commission (SEC) in response to the Amendment to the National Market System Plan Governing the Consolidated Audit Trail (CAT), the FIA Principal Traders Group (FIA PTG) urged the SEC to reject the latest proposed Funding Model. FIA PTG said the CAT requires a fundamental change to its governance and transparency model.
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FIA PTG Responds to Regulation Systems Compliance and Integrity Expansion Proposal
In a letter filed today with the US Securities and Exchange Commission in response to the Regulation Systems Compliance and Integrity Expansion Proposal (Reg SCI), the FIA Principal Traders Group (FIA PTG) said that the SEC has not justified expanding Reg SCI to broker-dealers nor has it adequately considered alternatives and the impact on competition.
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FIA PTG Responds to SEC Cybersecurity Risk Management Proposal
In a letter filed today with the Securities and Exchange Commission (SEC) in response to the Risk Management Proposal, the FIA Principal Traders Group (FIA PTG) recommended that the SEC prioritize critical operations as focus of rule scope and requirements; take into account firm attributes, market structure and service provider due diligence mechanisms as part of reasonably designed policies and procedures; leverage the Financial Services Information Sharing and Analysis Center (FS-ISAC) for incident reporting and threat analysis; eliminate public disclosure requirements and associated risk in favor of Reg S-P customer notifications; and address implementation and enforcement concerns in the adopting release.
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FIA PTG responds to FTC Non-Compete Clause Rulemaking
In a letter filed today with the Federal Trade Commission, the FIA Principal Traders Group responded to the proposed Non-Compete Clause Rulemaking which would effectively prohibit the use of non-compete clauses. FIA PTG cautioned that proprietary software, and the innovative source code that runs it, is key to many FIA PTG members’ success as liquidity providers. Accordingly, this Proposal if implemented as proposed would limit their ability to protect their intellectual property from disclosure to competitors and potentially jeopardize the liquidity they are able to provide.
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FIA PTG Responds to TSX Alpha Exchange Proposed Amendments to add Additional Order Books
In a letter filed with TMX Group, the FIA Principal Traders Group (FIA PTG) commented on Alpha Exchange’s recently proposed amendments to their Alpha Trading Policy Manual to introduce two new order books and to make changes to their order processing delay.
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FIA PTG Responds to SEC Equity Market Structure Reform Proposals
n a letter filed with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) commented on the four recently proposed equity market structure reform rulemakings.
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FIA PTG responds to Nasdaq proposal to add additional order types
In a letter filed today with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) opposed Nasdaq’s proposal to establish new “Contra Midpoint Only” and “Contra Midpoint Only with Post-Only” order types.
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FIA PTG responds to FINRA Trading Activity Fee Proposal
In a letter filed today with FINRA, the FIA Principal Traders Group (FIA PTG) supported FINRA’s proposal to exempt from the Trading Activity Fee (“TAF”) transactions executed by proprietary trading firms (“PTFs”) on an exchange of which the firm is a member.
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FIA PTG responds again to FINRA proposal to add IntelligentCross ATS to the Alternative Display Facility
In a letter filed today with the 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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FIA PTG responds to FINRA proposal to add IntelligentCross ATS to the Alternative Display Facility
In a letter filed today with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) opposed a proposal to add IntelligentCross ATS as a new entrant to FINRA’s Alternative Display Facility.
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