External Meetings: Meeting with BlackRock

On June 10, 2011, staff met with BlackRock representatives to discuss public reporting, block trades and related issues that BlackRock had raised in various public comment letters.  Specifically, BlackRock explained how allocation to their clients occurs and various issues related to allocation. Additionally, BlackRock referred to the company’s presentation at the March 1, 2011 Technology Advisory Committee meeting at the CFTC with regard to block trade sizes.  BlackRock stated that block size for interest rate swaps could be tied to 10 year equivalents and that SEFs and DCMs setting the block size without objective criteria could be problematic.