9:30 a.m. to 10:00 a.m.

Check-in with CFTC Reception – Lobby Level

10:00 a.m. to 5:00 p.m.

TAC Meeting, CFTC Headquarters Conference Center

10:00 a.m. to 10:05 a.m.

Opening Remarks

Commissioner Scott D. O’Malia, Chairman, TAC

10:05 a.m. to 10:15 a.m.

Opening Remarks of CFTC Commissioners

Chairman Gary Gensler, Commissioner Jill Sommers, Commissioner Bart Chilton, and Commissioner Mark Wetjen

10:15 a.m. to 12:30 p.m.

Panel I: Automated and High Frequency Trading

Presentations:

o Andrei Kirilenko, Chief Economist, CFTC

o Mark Wassersug, Vice President of Operations, ICE

o Dean Payton, Managing Director & Deputy Chief Regulatory Officer, CME Group

o Joel Hasbrouck, Kenneth G. Langone Professor of Business Administration and Professor of Finance, Stern School of Business, New York University

o Sean Castette, Chief Information Officer, GETCO, LLC

• Introduction of the Subcommittee on Automated and High Frequency Trading
• Exchange Oversight of Automated Trading Strategies (ATS) and High Frequency Trading (HFT)
• An Academic Review of Defining and Measuring HFT Strategies
• Defining ATS vs. HFT Strategies and Their Evolution: A Practitioner’s View

12:30 p.m. to 2:00 p.m.

Lunch (not provided)

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

Panel II: Final Recommendations from the Subcommittee on Data Standardization

Presentations:

o Chuck Vice, President and Chief Operating Officer, ICE

o Douglass E. Harris, Managing Director, Promontory Financial Group, LLC

o Andrei Kirilenko, Chief Economist, CFTC

• Presentation of Working Groups Recommendations
• Open Discussion of Final Recommendations
• Full TAC Recommendation Regarding Final Recommendations

2:30 p.m. to 4:00 p.m.

Panel III: Credit Limit Checks: Market Structure and Technology Issues

Presentations:

o Randall Costa, Managing Director, Citadel LLC

o Paul Hamill, Managing Director, UBS

o Jeffrey Maron, Managing Director, MarkitSERV

o Jim Rucker, Head of Credit and Risk, MarketAxess

• Buy Side
• Sell Side
• Confirm Entity
• Execution Facility
• Q & A

4:00 p.m. to 5:00 p.m.

Open Discussion and Concluding Remarks

Commissioner Scott D. O’Malia, Chairman, TAC