A European lobby group for the high-speed trading industry has used one of its first papers to call for an evidence-based approach to regulating HFTs, amid growing calls for tighter controls of these firms.

The European Principal Traders Association, a sister organisation to the US-based Principal Traders Group and part of the Futures Industry Association, wrote a joint-response to the International Organisation of Securities Commissions this week, emphasising the benefits that high-speed trading has brought to markets.