Mission of the FIA Principal Traders Group:

  • Provide a forum for proprietary trading firms to identify and discuss issues confronting the FIA PTG community
  • Define common positions on public policy issues and advance the group’s collective interests through FIA
  • Improve public understanding of the constructive role played by proprietary trading firms in the exchange-traded equities and derivatives markets
  • Promote cost-effective, transparent access to U.S. and non-U.S. markets.


  1. Continue educating policymakers, including regulators, relevant legislators, and staff.
  2. Continue pursuit of additional worthwhile representation opportunities on regulatory advisory committees, panels, and roundtables.
  3. Continue to work with equity and futures exchanges on matters of importance to the group.
  4. Continue to work with other like-minded trade associations and companies where appropriate on issues of mutual interest.
  5. Continue to inform Members and Member offices of our positions on possible legislative initiatives, as well as actions by the regulatory agencies they oversee. Possible legislative initiatives could include:
    1. Legislation on cryptocurrencies/digital assets.
    2. Legislation related to SEC regulatory proposals, including equity market structure, dealer registration, FINRA membership, Consolidated Audit Trail, and treasury mandatory clearing.
    3. Financial transaction tax.
    4. Legislation aimed at “excessive speculation” in derivatives markets.
    5. Legislation related to artificial intelligence.
    6. Other relevant legislation to derivatives/securities regulation.
  6. Continue pursuing specific regulatory initiatives including:
    1. Monitor for rule proposals and oversight developments related to automated trading (CFTC, SEC, Federal Reserve Board, US Treasury, and Exchanges).
    2. Engagement with regulators on rule proposals for introducing artificial latency mechanisms (CFTC, SEC, and Exchanges).
    3. Engagement on the SEC’s equity market structure proposals (SEC).
    4. Engagement regarding other SEC proposed rules including dealer registration (SEC).
    5. Monitor CCP recovery and resolution developments – including variation margin gains haircutting, waterfall, default auctions, and other issues (CFTC, IOSCO).
    6. Monitor developments in policies for cybersecurity risks (SEC, CFTC)
    7. Monitor for any developments on transaction tax (Administration) and carried interest (Treasury).
    8. Monitor for regulatory developments regarding artificial intelligence (CFTC, SEC, and Administration
    9. Monitor regulatory developments in digital asset markets and consider engagement where appropriate (CFTC, SEC, and Administration).

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