Equity Market Structure Advisory Committee — Market Quality Subcommittee

Summary Minutes of November 16, 2015 Call

The Market Quality Subcommittee held a call on November 16, 2015, to discuss the Subcommittee's organization, Chair selection, and description of potential topics to be reviewed by the Subcommittee.

The call convened at approximately 10:30 a.m. via telephone. The following Subcommittee Members were on the call:

  • Matthew Andresen
  • Reginald Browne
  • Ted Kaufman
  • Mehmet Kinak
  • Jamil Nazarali
  • Eric Noll

The following staff from the Division of Trading and Markets were on the call:

  • Steve Luparello
  • David Shillman
  • Arisa Kettig

The first order of business was a Subcommittee Chair. All Members on the call favored having a Chair and discussed the nomination and voting process. All Members on the call agreed to email nominations and votes to Mr. Luparello.

The next order of business was the scope of the Subcommittee. Mr. Luparello noted that a Member had raised the concern that issuers were not represented in any Subcommittee description and suggested that issuers be included in the Market Quality Subcommittee description. All Members on the call concurred with the proposed description of the Subcommittee, as revised.

The final order of business discussed was the expectation of Subcommittee meetings. It is anticipated that the Subcommittee will meet once a month or every six weeks. Mr. Luparello noted that as discussed at the full Committee meeting on October 27, 2015, it is expected that minutes of Subcommittee meetings will be posted to the Equity Market Structure Advisory Committee website. Mr. Luparello suggested that the Subcommittee provide a status report to the full Committee at the next public meeting.

The call concluded at approximately 10:35 a.m.