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

Summary Minutes of June 18, 2018 Call

The Technology and Electronic Trading Subcommittee held a call on June 18, 2018.

The call convened at approximately 2:00 p.m. via telephone. The following Subcommittee members were on the call:

Dan Allen
John Bagley
Horace Carter
Larry Harris
Amar Kuchinad
Rick McVey
Larry Tabb
Tom Thees
Michael Heaney

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

David Shillman
David Dimitrious
Tom Eady
Molly Kim
Patrick Norton
Justin Pica
Tyler Raimo
Ben Bernstein

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

Rebecca Olsen
Ahmed Abonamah
William Miller
Ben Tecmire

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

Abby Kim
Michael Schihl
Seung Won Woo

The Subcommittee continued their discussion of the current regulatory framework for fixed income electronic trading platforms and considered potential initiatives to examine the oversight regimes of platforms registered as broker-dealers and those that are registered as alternative trading systems.

The Subcommittee then discussed the market for providing bond reference data and potential means of making available information on bond issues.

The final topic the Subcommittee discussed was experiences in using bid wanted auctions on electronic trading platforms.

The Subcommittee decided to speak again in the coming weeks to further discuss these topics.

The call concluded at approximately 3:10 p.m.