20 October 2017
Find out more

European proprietary trading lobby group established

08 June 2011  |  5829 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)

Finextra news in your inbox

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

Related stories

FSA not interested in trawling through algo code

FSA not interested in trawling through algo code

12 April 2011  |  8737 views  |  1 comments
CFTC panel recommends HFT curbs

CFTC panel recommends HFT curbs

02 March 2011  |  13685 views  |  0 comments
HFT makes up 77% of UK market - Tabb

HFT makes up 77% of UK market - Tabb

24 January 2011  |  10058 views  |  0 comments
Dutch regulators see positive side of HFT

Dutch regulators see positive side of HFT

10 December 2010  |  10075 views  |  0 comments
MiFID II to tackle high-frequency trading

MiFID II to tackle high-frequency trading

03 December 2010  |  12380 views  |  0 comments
European Commissioner takes aim at HFT

European Commissioner takes aim at HFT

12 October 2010  |  8461 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.capgemini.comvisit www.fivedegrees.nl

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15921 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9019 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8162 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7196 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6337 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job