Equity Market Structure Advisory Committee — Market Quality Subcommittee

Summary Minutes of April 15, 2016 Meeting

The Market Quality Subcommittee held an in-person meeting on April 15, 2016, to discuss the Subcommittee's preliminary recommendations.

The meeting convened at approximately 9:00 a.m. at Convergex's NY office. The following Subcommittee members attended the meeting:

Matthew Andresen
Reginald Browne
Mehmet Kinak
Jamil Nazarali
Eric Noll

The following industry participants joined the meeting:

David Blitzer, S&P Dow Jones
Mark Campbell, FMR
Hubert De Jesus, Blackrock
Angelo Evangelo, CBOE
Jamie Farmer, S&P Dow Jones
Joe Kinahan, TD Ameritrade
David LaValle, State Street Global Advisors
Ovidio Montemayor, TD Ameritrade
Chris Nagy, Healthy Markets
Venu Palaparthi, Virtu Financial
Steven Quirk, TD Ameritrade
Ian Schad, Jane Street
Kathryn Sweeney, Goldman Sachs
Damon Walvoord, Susquehanna

The following staff from the Division of Trading and Markets joined the meeting via telephone:

John Roeser
Daniel Gray
Charles Collver
Barry Pershkow
Alex Jadin
Benjamin Kalish
Vince Vuong
Arisa Kettig

The first order of business was a roundtable discussion of issues relating to limit-up/limit-down, market wide circuit breakers, and the market opening.

The next order of business was the framing and discussion of market-maker privileges among the Subcommittee members and industry participants.

The meeting concluded at approximately 10:50 a.m.