10:00 a.m. to 10:10 a.m.

Opening Remarks

• Commissioner J. Christopher Giancarlo, Sponsor, EEMAC
• Chairman Timothy Massad
• Commissioner Mark Wetjen
• Commissioner Sharon Bowen

10:10 a.m. to 10:30 am

Current Conditions in U.S. Energy Markets

• Adam Sieminski, Administrator, U.S. Energy Information Administration

EEMAC Member Questions

10:30 a.m. to 11:30 a.m.

Panel I: What Does the Data Show?

Witnesses

• Vince McGonagle, Director, Division of Market Oversight
• Steve Sherrod, Senior Economist, Division of Market Oversight
• Tom LaSala, Chief Regulatory Officer, CME
• Erik Haas, Director – Market Regulation, ICE Futures U.S.
• Craig Pirrong, Professor of Finance and Energy Markets, Director of Global Energy Management Institute, Bauer College of Business, University of Houston

Open Discussion

11:30 a.m. to 11:45 a.m.

Break

11:45 a.m. to 12:45 p.m.

Panel II: Designated Contract Market Experience with Position Limits and Trading Liquidity

Witnesses

• Tom LaSala, Chief Regulatory Officer, CME
• Erik Haas, Director – Market Regulation, ICE Futures U.S.

Open Discussion

12:45 p.m. to 2:00 p.m.

Lunch

2:00 p.m. to 3:30 p.m.

Panel III: Bona Fide Hedging

Witnesses

• Vince McGonagle, Director, Division of Market Oversight
• Steve Sherrod, Senior Economist, Division of Market Oversight
• Joe Nicosia, Commodity Markets Council
• Ron Oppenheimer, Commercial Energy Working Group

Open Discussion

3:30 p.m. to 3:45p.m.

Closing Remarks