On Wednesday, April 19, buy-side, sell-side, exchanges, and academics gathered to holistically examine the impact of the SEC's equity market structure proposals on investors and equity markets. A follow-up to SIFMA's Equity Market Structure Roundtable held last September, this Roundtable discussed the SEC's four proposals released on December 14, 2022:
• Disclosure of Order Execution Information;
• Tick Sizes, Access Fees, and Transparency of Better Priced Orders;
• Regulation Best Execution; and
• Enhancing Order Competition.
Download the Roundtable Debrief from SIFMA Insights, view the transcript and watch the Roundtable replay on demand.
Download the transcript.
- Ashley Banfield, Co-Head, US Sector Trading, Fidelity Investments
- Robert Battalio, Professor of Finance, University of Notre Dame
- Gregg E. Berman, Ph.D., Director of Market Analytics & Regulatory Structure, Citadel Securities
- Matt Billings, Senior Vice President, Trading Services, Two Sigma
- Michael Blaugrund, CFA, Chief Operating Officer, NYSE
- Stephen Cavoli, Executive Vice President, Global Head of Execution Services, Virtu Financial
- Diwa Cody, Vice President, Head Equities Market Structure and Strategic Partnerships, Goldman Sachs
- Michael Costley, Vice President, Equity, Option & Advisory Trading, Ameriprise
- Jessica D’Alton, Executive Director, Head of America’s Market Structure and Liquidity Strategy, UBS
- Hubert DeJesus, Global Head of Electronic Trading & Market Structure, BlackRock
- Dan Gallagher, Chief Legal Officer, Robinhood; Former SEC Commissioner
- Alan Goldberg, Associate Director, Susquehanna
- Christopher Gwozdz, Head of Order Flow Management, Fidelity Capital Markets, Fidelity Institutional
- Terrence Hendershott, Professor & Faculty Director, Haas School of Business, UC Berkeley
- Adam Inzirillo, SVP, Head of North American Equities (CAD + US), Cboe Global Markets
- C. Annette Kelton, Managing Director, Senior Counsel and Co-Head of Equities Legal, Goldman Sachs
- JJ Kinahan, CEO of IG North America, tastytrade
- Mehmet Kinak, Global Head of Systematic Trading & Market Structure, T. Rowe Price
- Chris Larkin, Managing Director, Digital Brokerage Product E*TRADE, Morgan Stanley
- Craig Lewis, Madison S. Wigginton Professor of Finance, Vanderbilt University
- Nicholas Losurdo, Partner, Goodwin Procter LLP
- Chuck Mack, Head of US Equities, Nasdaq
- James Martielli, CFA, CAIA, Head of Investment & Trading Services, Vanguard
- Michael Masone, Director, Head of Americas Equities Market Structure, Citigroup
- Rick McDonald, Director of Compliance, Susquehanna
- Joe Mecane, Head of Execution Services, Citadel Securities
- Ovidio Montemayor, Managing Director, Financial Markets Services, Charles Schwab | TD Ameritrade
- Sapna C. Patel, Head of Americas Market Structure & Liquidity Strategy, Morgan Stanley
- Elad L. Roisman, Partner, Cravath, Swaine & Moore LLP; Former SEC Commissioner
- Charles A. Sommers, Partner, Securities Enforcement and Regulatory Practice, Sidley
- Chester Spatt, Professor of Finance, Carnegie Mellon University
- Debbie Toennies, Managing Director, Head of Regulatory Affairs, JPMorgan Chase & Co.
- Andrew Upward, ETF Strategist, Jane Street
- Jessica Wachter, Chief Economist and Director of the Division of Economic Risk and Analysis, U.S. Securities and Exchange Commission
Speaker
Chief Economist, Director of the Division of Economic & Risk Analysis
U.S. Securities and Exchange Commission
Moderator
Craig M. Lewis
Madison S. Wigginton Professor of Finance
Vanderbilt University