The FIA European Principal Traders Association issued a position paper on Oct. 15 outlining its positions on several key issues related to the regulation of financial markets. European policy makers are close to finalizing a major overhaul of the Markets in Financial Instruments Directive, and the position paper explains FIA EPTA’s views on several provisions under discussion. These include rules related to market access, the definitions of algorithmic and high-frequency trading, continuous quoting obligations, minimum order resting times, order-to-trade ratios, cancellation fees, third-country recognition, best execution obligations, and open access provisions.
