In a letter filed today with FINRA, the FIA Principal Traders Group (FIA PTG) supported FINRA’s proposal to exempt from the Trading Activity Fee (“TAF”) transactions executed by proprietary trading firms (“PTFs”) on an exchange of which the firm is a member. In the letter, FIA PTG agreed with both FINRA and the Securities and Exchange Commission (SEC), who acknowledged the potentially significant monetary impact of applying the current TAF structure to PTF broker dealers that become FINRA members.
