10 October 2015

European proprietary trading lobby group established

08 June 2011  |  5177 views  |  0 Man writing graphs on glass wall

A group of proprietary trading firms have set up a European lobby group as they prepare for greater regulatory scrutiny of high-frequency trading.

The FIA European Principal Traders Association is a forum for firms that trade their own capital to "identify and discuss issues" confronting their community, says a statement.

The Brussels-headquartered group has been formed by the Futures Industry Association, which set up a similar pressure group in Washington last year. So far it claims 15 member firms, including Dutch outfits Flow Traders, IMC and Optiver and US-based Getco.

Under the upcoming overhaul of MiFID, high-frequency trading in Europe is expected to face tougher scrutiny, with the new European Securities Markets Authority watchdog planning to insist on knowing about firm's specific algorithms, an approach not welcomed by traders or the UK's national regulator, the FSA.

The new group will work to "define common positions on public policy issues, improve the public's understanding of the constructive role played by principal trading groups in the exchange-traded markets and promote cost-effective, equal and transparent access to European markets".

John Damgard, president, FIA, says: "Financial reform is a global issue. Creation of the FIA EPTA comes at a critical time as policymakers in Europe, the US and elsewhere are writing rules that will change how our markets work. It is especially important that there be a voice in Europe for this important segment of our markets."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

12 April, 2011
02 March, 2011
24 January, 2011
10 December, 2010
03 December, 2010
12 October, 2010

Related company news


Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
9394 views comments | 44 tweets | 58 linkedin
Banks must embrace fintech-fuelled payment...
5544 views comments | 18 tweets | 14 linkedin
London fintech investment in first three q...
5122 views comments | 25 tweets | 19 linkedin
Chinese hackers breach LoopPay
5096 views comments | 8 tweets | 6 linkedin
Faster Payments eases access for challenge...
5036 views comments | 20 tweets | 25 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job