Technology Advisory Committee

CFTC’s Technology Advisory Committee
1155 21st Street, N.W.
Washington, DC 20581

March 29, 2012

Agenda

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:

  • Introduction of the Subcommittee on Automated and High Frequency Trading

    • o Andrei Kirilenko, Chief Economist, CFTC

  • Exchange Oversight of Automated Trading Strategies (ATS) and High Frequency Trading (HFT)

    • o Mark Wassersug, Vice President of Operations, ICE

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

  • An Academic Review of Defining and Measuring HFT Strategies

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

  • Defining ATS vs. HFT Strategies and Their Evolution: A Practitioner’s View

    • o Sean Castette, Chief Information Officer, GETCO, LLC

    o

   

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:

  • Presentation of Working Groups Recommendations

    • o Chuck Vice, President and Chief Operating Officer, ICE

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

    o

  • Open Discussion of Final Recommendations

    • o Andrei Kirilenko, Chief Economist, CFTC

  • 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:

  • Buy Side

    • o Randall Costa, Managing Director, Citadel LLC

    o

  • Sell Side

    • o Paul Hamill, Managing Director, UBS

  • Confirm Entity

    • o Jeffrey Maron, Managing Director, MarkitSERV

  • Execution Facility

    • o Jim Rucker, Head of Credit and Risk, MarketAxess

  • Q & A

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

Open Discussion and Concluding Remarks

Commissioner Scott D. O’Malia, Chairman, TAC