FIA European Principal Traders Association

FIA European Principal Traders Association (FIA EPTA) represents Europe’s leading Principal Trading Firms. Our 28 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.

Learn more about EPTA

Recent Updates

  • Trade organizations call for extension of temporary equivalence and recognition of UK CCPs

    Trade organizations call for extension of temporary equivalence and recognition of UK CCPs

  • US Equity Market Structure: An Investor Perspective

    BlackRock discusses several market structure issues affecting U.S. equity markets and provides several recommendations to further improve market quality and stability.

  • Response by the FIA European Principal Traders Association to the EBA Consultation Paper on draft RTS on revised identified staff for remuneration purposes

    Principal Trading Firms are relatively small, non-complex firms with flat organization structures. Importantly, our members trade for own account and risk only, and do not hold or manage client assets or money or take deposits.

  • FIA EPTA response to the LSE consultation on market structure and trading hours

    FIA EPTA members consider that, generally speaking, the longer hours in Europe do not seem to provide a benefit to market liquidity and observe that the shorter hours in, for example, the U.S. main trading session do not hamper market liquidity.

  • FIA EPTA statement on Ferber Report on MiFID and MiFIR

    FIA European Principal Traders Association (FIA EPTA) looks forward to the draft report on the proposed revision to the Markets in Financial Instruments Directive (MiFID) and the proposal for the Markets in Financial Instruments Regulation (MiFIR) by MEP Markus Ferber.

  • FIA EPTA response to the European Securities and Markets Authority’s Discussion Paper on the trading obligation for derivatives under MiFIR

    FIA EPTA members have consistently supported the leading objective of the 2009 G20 Pittsburgh commitments and the subsequent EU derivatives markets reforms, which aim to ensure that trading in standardised OTC derivatives takes place on exchanges or electronic trading platforms where possible.



  • Who are the participants in modern markets?

    It has been noted many times over recent weeks and months (not to mention years) that the current market structures are complex and difficult to understand as an outsider.

  • Markets: the engine of the economy

    With the publication of the recent Bank of England report demonstrating that high frequency trading makes pricing more accurate in the markets it seems a good time to consider not only why this is good for the markets, but why, in fact, it benefits the economy as a whole.

  • EU legislation: a delicate balance

    With EU legislation in the hands of both political and regulatory institutions, getting the balance right between these powers is of critical importance to the effectiveness of market policy.

  • A light bulb goes off at Bercy

    Every now and then we all have an "aha!" moment: with a flash of inspiration, we see a new way to solve a problem or unravel a mystery.

  • The myths around latency arbitrage

    One of the criticisms of High Frequency Trading is that they gain an unfair advantage by receiving data faster than others. This enables them to react to market events before anybody else and effectively ‘front-run’ the rest of the market.

  • Systems of the future

    Have you seen the video of the BMW driving down Germany’s Autobahn with no one at the controls? You might not think that a “hands free” driving experience is one you’d ever like to have yourself but it’s quite extraordinary to watch. As long as the route is programmed into the car, it can manoeuvre itself through the traffic.