The SEC has published the agenda for next week’s meeting of the Equity Market Structure Advisory Committee (EMSAC). The bulk of the meeting will tackle the “Flash Crash” that occurred on August 24th, 2015. This was a bone-jarring event that saw the Dow nose-dived 1000 points erasing wealth on an epic scale only to claw its way back up a bit towards the end of the day. Of course, following this event there was much finger-pointing and hand-wringing shared by all. The SEC is tasked with keeping markets operating in an efficient fashion and the Flash Crash revealed systemic challenges in our high-speed, data-driven, algo-trading world.
The agenda is published below. Interested observers may view the live-stream on the SEC website on Tuesday, February 2, 2015.
Agenda
9:30 a.m. Welcoming Remarks
- Chair White, Commissioners, and Director of the Division of Trading and Markets Stephen Luparello
10:00 a.m. Presentation on Market Volatility by SEC staff
10:10 a.m. Presentation and Q&A on Market Volatility
- Stacey Cunningham, Chief Operating Officer, NYSE
- Hubert De Jesus, Co-Head Market Structure & Electronic Trading, BlackRock
- Frank Hatheway, Chief Economist, NASDAQ
- Paul O’Donnell, Managing Director, Morgan Stanley
11:00 a.m. Committee Discussion on Market Volatility
12:00 p.m. Lunch
1:00 p.m. Presentation on Customer Issues by SEC staff
1:10 p.m. Presentation and Q&A on Customer Issues
- Jeffrey Brown, Senior VP-Legislative & Regulatory Affairs, Charles Schwab
- Frank Childress, Managing Director, Wells Fargo Advisors
- Dennis Dick, Member – Capital Markets Policy Council, CFA Institute
- Christine Parlour, Professor of Finance & Accounting, Haas School of Business, UC Berkeley
2:00 p.m. Committee Discussion on Customer Issues
3:00 p.m. Break
3:15 p.m. Subcommittee Updates
4:15 p.m. Discussion of Next Steps/Adjournment
