FIA PTG sent a letter to the CFTC requesting no-action relief from the swap dealer de minimis threshold for registered floor traders under certain conditions.
The letter explains, "If the Division issues the no-action relief we are requesting, we believe more principal trading firms, including member firms of FIA PTG, will register as floor traders and become active liquidity providers on centrally cleared, centrally traded swap markets. That could be of significant benefit in promoting the viability of the relatively young SEF markets, a number of which are struggling to attract a critical mass of trading volume."
