Today FIA PTG responded to the Brasil, Bolsa, Balcão - B3 Exchange public consultation on a change to the rule for registration of cross orders in the exchange environment. FIA PTG said that while we support B3’s efforts to make the cross order rules consistent across the Markets, and we support clear cross order rules that are consistently enforced, we believe the proposal’s retail broker preferencing mechanism would badly damage the health of the markets, perpetuate a conflict of interest, and ultimately harm the investors that trade on the markets. The markets have been served well by current rules which encourage open and fair price competition among all market participants in central limit order books.
The full letter is available under Resources on the right.
