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In this paper, the FIA Principal Traders Group advocates for targeted reforms to Regulation NMS, addressing Reg NMS’ impact on costs, best execution, venue proliferation and the generation of complex order types.

Principal Traders Group (FIA PTG) supported FINRA's proposal to extend Trade Reporting Facilities (TRFs) operating hours and align them with current Securities Information Processors (SIP) hours.

The letter covers a range of topics including, security status issues and regulation of tokenized U.S. equity securities. It also covers potential collateral efficiencies and accounting considerations.

In a letter filed with the US Securities and Exchange Commission, the FIA Principal Traders Group applauded FINRA for eliminating the harmful manual trade exception previously approved but never implemented, and encouraged FINRA to continue to improve the TRACE regime, including by shortening the reporting timeframe for all transactions.

In a letter filed with the Securities and Exchange Commission, the FIA Principal Traders Group said it supports the Commission's action to address spiralling Consolidated Audit Trail costs, promote accountability and fashion a reasonable governance framework for the CAT.

In a letter filed with the Financial Industry Regulatory Authority, the FIA Principal Traders Group welcomed the opportunity to participate in the Modernization Review and commended FINRA for undertaking this worthwhile initiative.