The Futures Industry Association (FIA) announced today that they have retained former chief economist at both the CFTC and SEC Jim Overdahl as spokesman for the association’s recently created Principal Traders Group (PTG). He currently is and will remain a vice president at NERA Economic Consulting. According to a press release put out by the FIA, “He will be responsible for articulating the group’s views on public policy issues and improving public understanding of the role played by principal trading firms in the financial and commodity markets.”
The creation of the PTG and Overdahl’s appointment as spokesman have come as high frequency traders have recently come under increased scrutiny by regulators. While not all principal traders engage exclusively in high frequency trading, it is a strategy many employ on some level. So far 25 firms have joined the FIA PTG.
The complete press release can be viewed at the FIA PTG homepage.