Fixed Income Market Structure Advisory Committee — Fixed Income Market Structure Advisory Committee Corporate Bond Transparency Subcommittee

Summary Minutes of February 26, 2019 Call

The Corporate Bond Transparency Subcommittee held a call on February 26, 2019.

The call convened at approximately 11:00 a.m. via telephone. The following Subcommittee Members were on the call:

Gilbert Garcia
Larry Harris
Amar Kuchinad
Sonali Theisen
Kumar Venkataraman
Mihir Worah
Michael Heaney

The following other persons were on the call:

Scott Pintoff, MarketAxess
Brad Winges, Hilltop Securities

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

Elizabeth Baird
Ben Bernstein
David Dimitrious
Tom Eady
Michael Gaw
Patrick Norton
Justin Pica
Ted Uliassi

The following staff from the Office of Municipal Securities were also on the call:

Ahmed A. Abonamah

The following staff from the Division of Economic and Risk Analysis were also on the call:

Louis Craig
Abby Kim

The Subcommittee discussed (1) liquidity and other risks in the retail note market, including investor education and disclosure related to these risks and (2) separating out riskless principal markups in TRACE.

The call concluded at approximately 12:00 noon.