Font Size: AAA // Print // Bookmark

Technology Advisory Committee

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

    March 29, 2012


    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


    • 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



    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


    • Presentation of Working Groups Recommendations
    • o Chuck Vice, President and Chief Operating Officer, ICE

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


    • 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


    • Buy Side
    • o Randall Costa, Managing Director, Citadel LLC


    • 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