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FIA letter to Basel regarding New Liquidity Requirement
FIA submit a letter commenting on Basel's Consultative Document on the Revised Basel III Leverage Ratio Framework.
CONTINUE READINGFIA PTG statement on Government Release of Market-Moving Data
The FIA Principal Traders Group issued a statement on Oct. 2 urging U.S. federal agencies to clarify the procedures by which they release market-moving data. FIA PTG said greater transparency would improve public confidence in the fairness and integrity of the release process and help to prevent misunderstandings and confusion:
CONTINUE READINGFIA PTG asks SEC to suspend ISE rule change
The FIA Principal Traders Group asked the Securities and Exchange Commission on Oct. 7 to suspend a rule change proposed by the International Securities Exchange that establishes a continuing education program for proprietary traders. The rule change requires trading permit holders to develop a continuing education requirement for their employees that meets the ISE’s Firm Element requirement, which is designed for firms that handle customer orders and addresses issues such as suitability and sales practices. The FIA PTG argued that this obligation does not make sense for proprietary trading firms that do not trade on behalf of customers. The FIA PTG also noted that the rule change was not submitted properly to the SEC and was not made available for public comment.
CONTINUE READINGFIA PTG Statement on Launch of SEC Public MIDAS Data Website
The FIA Principal Traders Group released the following statement supporting the release of the SEC MIDAS database:
CONTINUE READINGFIA PTG Issues Statement on SRO Plan to Strengthen Critical Market Infrastructure
The FIA Principal Traders Group issued the following statement today in response to a Nov. 12 joint announcement by self-regulatory organizations in the U.S. equities and options markets regarding efforts to strengthen critical market structure.
CONTINUE READINGFIA PTG Files Comment Letter on CSBX Membership
The FIA Principal Traders Group filed a comment letter with the Securities and Exchange Commission regarding a proposed rule filing by the Chicago Board Options Exchange. The proposed rule would require all CBSX permit holders to become FINRA members. The FIA PTG said the proposed rule would be costly and burdensome without commensurate benefit to the market, and suggested a simpler and more direct alternative: It is more appropriate for CBOE to obtain what they require to enforce federal rules by contracting with FINRA as other exchanges do.
CONTINUE READINGFIA PTG Responds to FINRA Wash Sale Proposal
The FIA Principal Traders Group submitted a comment letter to the Securities and Exchange Commission on Jan. 6, 2014 in response to a FINRA proposed rule change relating to self-trades.
CONTINUE READINGFIA PTG discusses automated trading risk controls at CFTC TAC meeting
Rob Creamer, president of Geneva Trading and chairman of FIA PTG, gave a presentation on automated trading at a Feb. 10 meeting of the Commodity Futures Trading Commission’s Technology Advisory Committee. The presentation highlighted key points from the comment letter submitted by FIA in response to the CFTC’s concept release on risk controls and system safeguards for automated trading. FIA PTG members helped draft the comment letter and developed many of the comment letter’s responses to the CFTC’s questions about risk controls and system safeguards currently in use in the futures industry.
CONTINUE READINGFIA Volume Report: Global Futures and Options Volume Rose 2.1% to 21.64 Billion in 2013
FIA today released its annual report on global trends in the trading of futures and options. According to statistics gathered by FIA from 84 exchanges worldwide, 21.64 billion futures and options contracts were traded in 2013, an increase of 2.1% from the previous year, but still well below the number of contracts traded in 2011 and 2010.
CONTINUE READINGFIA Europe’s Special Report – Derivatives Clearing 2014
This special report provides valuable insight into key developments in the clearing of derivatives globally, including assessments of the impact of regulatory change on market infrastructures, intermediaries and end-users.
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