Equity Market Structure Advisory Committee — Customer Issues Subcommittee

Summary Minutes of March 18, 2016 Call

The Customer Issues Subcommittee held a call on March 18, 2016, to discuss issues relating to retail customers.

The call convened at approximately 3:00 p.m. via telephone. The following Subcommittee members were on the call:

Matthew Andresen
Brad Katsuyama
Ted Kaufman
Richard Ketchum
Manisha Kimmel
Jamil Nazarali

The following staff from the Division of Trading and Markets were on the call:

David Shillman
Leah Mesfin
Andrew Sioson
Arisa Kettig

The primary focus of the call was to further discuss potential recommendations regarding retail execution quality reports and payment for order flow disclosures.

The Subcommittee then discussed next steps, including potential topics for future consideration.

The call concluded at approximately 3:40 p.m.