Equity Market Structure Advisory Committee — Market Quality Subcommittee

Summary Minutes of March 21, 2016 Call

The Market Quality Subcommittee held a call on March 21, 2016, to discuss the Subcommittee's potential recommendations.

The call convened at approximately 9:00 a.m. The following Subcommittee members were on the call:

Reginald Browne
Kevin Cronin
Ted Kaufman
Mehmet Kinak
Jamil Nazarali
Eric Noll
Maureen O'Hara

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

David Shillman
Arun Manoharan
Charles Collver
Barry Pershkow
Alex Jadin
Benjamin Kalish
Vince Vuong
Arisa Kettig

The primary focus of the call was to further discuss the Subcommittee's potential recommendations regarding limit-up/limit-down, market wide circuit breakers, and the policies and procedures around the market opening.

The Subcommittee plans to meet on April 8, 2016 to discuss market-making, its privileges and responsibilities, as well as, the view of issuing companies on market structure generally.

The call concluded at approximately 9:30 a.m.