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

Summary Minutes of September 12, 2018 Call

The Technology and Electronic Trading Subcommittee held a call on September 12, 2018.

The call convened at approximately 3:00 p.m. via telephone. The following Subcommittee members were on the call:

Dan Allen
John Bagley
Horace Carter
Amar Kuchinad
Rick McVey
Larry Tabb
Sonali Theisen
Brad Winges
Michael Heaney

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

David Dimitrious
Tom Eady
Tyler Raimo
David Shillman
Ben Bernstein

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

Ahmed Abonamah
Ben Tecmire

The following staff from the Division of Corporation Finance joined the call:

Michael Seaman

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

Abby Kim
Seung Won Woo

The Subcommittee continued their discussion of the market for providing bond reference data and potential means of making available information on bond issues. The Subcommittee determined to continue to consider potential initiatives regarding improving access to information on new issues and corporate actions.

The Subcommittee also continued to discuss experiences of market participants in using bid wanted auctions on electronic trading platforms. They also discussed a MSRB request for comment on draft interpretive guidance on pennying. The Subcommittee determined to continue to pursue their discussion on this topic on future subcommittee calls.

The call concluded at approximately 4:30 p.m.