Fixed Income Market Structure Advisory Committee — Technology and Electronic Trading Subcommittee

Summary Minutes of March 5, 2020 Call

The Technology and Electronic Trading Subcommittee held a call on March 5, 2020.

The call convened at approximately 4:00 p.m. via telephone. The following Subcommittee members were on the call:

Dan Allen
Matt Andresen
John Bagley
Horace Carter
Larry Harris
Michael Heaney
Rick McVey
Lee Olesky
Larry Tabb
Sonali Theisen

The following other persons joined the call:

Lance Dial, Wellington Management
Kevin Gleason, Voya Investment Management
Nora Jordan, David Polk & Wardell LLP
James Wallin, AllianceBernstein
Michael Winnike, Blackrock

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

Ben Bernstein
David Dimitrious
Tom Eady
Arisa Kettig
Justin Pica
Patrick Norton

The following staff from the Office of Municipal Securities joined the call:

Ahmed Abonamah

The following staff from the Division of Investment Management also joined the call:

Zeena Abdul-Rahman
Katilin Bottock
Christian Broadbent
Jacob Krawitz
John Lee

The Subcommittee discussed considering a potential recommendation regarding internal fund crosses. The Subcommittee heard from various market participants on matters related to the potential benefits and challenges of modernizing Rule 17a-7 under the 1940 Act.

The call concluded at approximately 4:45 p.m.