Fixed Income Market Structure Advisory Committee — Technology and Electronic Trading Subcommittee
Summary Minutes of March 16, 2018 Call
The Technology and Electronic Trading Subcommittee held a call on March 16, 2018, to continue discussing, among other things, matters concerning executing retail customer orders on electronic trading platforms.
The call convened at approximately 11:00 a.m. via telephone. The following Subcommittee members were on the call:
The following other persons joined the call:
Tom Vales, TMC Bonds
Kristen Maher, Wells Fargo Advisers
David Umeda, Charles Schwab
Bob Colby, FINRA
The following staff from the Division of Trading and Markets joined the call:
The follow staff from the Office of Municipal Securities joined the call:
The following staff from the Division of Economic and Risk and Analysis also joined the call:
Seung Won Woo
The Subcommittee continued their discussion of several issues concerning executing retail customer orders in corporate and municipal bonds on electronic trading platforms including matters concerning order handling protocols and current industry practices, best execution requirements, and current experiences with bid wanted auctions.
The Subcommittee decided to speak again in several weeks to further discuss these topics and to potentially begin discussing other topics concerning the operation of fixed income electronic trading platforms.
The call concluded at approximately 12:20 p.m.