SEC Equity Market Structure Committee Full of Tech Faces
New group formed to tackle growing issues

The new committee will act as a means by which the SEC can receive advice and recommendations specifically related to equity market structure issues.
Its members come from different sectors of the financial services industry. A large number of technologists and trading technology firms are represented, with additional members coming from academia and public interest groups.
“Additional expertise from a diversity of backgrounds and viewpoints will be invaluable to us in ensuring that our markets continue to operate openly, fairly and efficiently to benefit investors and promote capital formation,” says SEC Chair Mary Jo White. “This impressive committee will provide extremely helpful input as we continue to move forward in our efforts to enhance our equity market structure.”
Conflicts in Routing and Execution, NMS
Among the issues the committee is expected to be asked to discuss are those relating to the review of SEC Regulation NMS (national market system), the role of exchanges in the current market structure, and the presence and effect of conflicts in the routing and execution of equity orders.
The committee is expected to hold public meetings approximately four times a year. Its first meeting will be held after the announcement of the establishment of the committee is published in the Federal Register.
The group has a two-year term, which can be renewed by the Commission, and will be led by its designated federal officer, SEC director of division of trading and markets Stephen Luparello.
Other members include:
Matthew Andresen, Co-Chief Executive Officer, Headlands Technologies LLC
Reginald Browne, Senior Managing Director & Global Co-Head, ETF Group, Cantor Fitzgerald & Co.
Kevin Cronin, Global Head of Trading, Invesco Ltd.
Brad Katsuyama, President and CEO, IEX Group Inc.
Ted Kaufman, Professor, Duke University Law School and former U.S. Senator from Delaware
Richard Ketchum, Chairman and CEO, FINRA
Manisha Kimmel, Managing Director, Financial Information Forum
Mehmet Kinak, Vice President and Head of Global Equity Market Structure and Electronic Trading, T.Rowe Price Group
Andrew Lo, Charles E. and Susan T. Harris Professor of Finance and Director, Laboratory for Financial Engineering, MIT Sloan School of Management and Chairman and Chief Investment Strategist, AlphaSimplex Group
Joseph Mecane, Managing Director, Barclays PLC
Jamil Nazarali, Senior Managing Director & Head of Execution Services, Citadel Securities
Eric Noll, President & CEO, Convergex Group
Maureen O’Hara, Robert W. Purcell Professor of Finance, Johnson Graduate School of Management, Cornell University and Chairman of the Board, Investment Technology Group Inc.
Joe Ratterman, CEO, BATS Global Markets Inc.
Nancy Smith, Corporate Secretary & Chief Integration Officer, AARP
Chester Spatt, Kenneth B. and Pamela R. Dunn Professor of Finance, Tepper School of Business, Carnegie Mellon University and Director of its Center for Financial Markets
Gary Stone, Chief Strategy Officer, Bloomberg Tradebook LLC
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