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. FIA PTG opposed both the new order types and the artificial latency introducing mechanisms proposed in connection with these two new order books. FIA PTG said they are concerned about the negative impact of these types of orders on overall market quality and do not believe the two new proposed order books are good for markets.
