Principal Traders Groups Carved Out of FIA

In a move that the groups say reflects the evolution of their work, the Principal Traders Group (PTG) and its European equivalent (EPTG) have restructured outside of the FIA umbrella, under which they have existed for the best part of the last 15 years.

EPTA and PTG will begin to operate independently of the FIA, advocating on behalf of their members in various markets and asset classes globally, however the groups stress that FIA will continue to work closely with both over the coming months to support the full build out of their independent organisations in the US and Europe.

With the launch of the new independent associations, FIA adds it plans to create a new complementary membership category to allow principal trading firms, including EPTA and PTG members, to continue as members of FIA participating in its conferences and on industry initiatives.

 “Since their launch more than a decade ago, we anticipated a time when EPTA and PTG would evolve into independent organisations,” says Walt Lukken, president and CEO of FIA. “Today’s announcement is a testament to the power of these brands that can now serve as standalone organisations advocating for their members across multiple asset classes beyond cleared derivatives. Principal trading firms serve as an integral source of liquidity for our global markets, and we look forward to working together as independent but aligned partners for the betterment of our industry.”

EPTA chairman Niels Lemmers adds, “I am proud of what we have achieved together, advancing the principal trading industry while building strong working relationships across the industry as well as with regulators and policymakers. I want to thank the FIA leadership for their collaboration and EPTA members for their commitment and support. Looking ahead, we will continue to represent our shared interests and advocate for fair, transparent and competitive capital markets that enable efficient access to liquidity for investors to ensure sustainable economic growth.”

FIA’s role in their development was also recognised by Graham Harper, chair of PTG, who says, “Since 2010, FIA has been an outstanding partner to PTG and our members. As our reach expands across asset classes, it’s the right time for us to become a standalone organization — but our commitment to open, competitive and transparent markets, and our strong relationship with FIA, will remain unchanged.”