Watch Brad Katsuyama, featured in Michael Lewis’ bestseller Flash Boys, discuss issues affecting the US equity markets, particularly conflicts of interest in pricing structure, market design and technology architecture, such as high-frequency trading.
Presented before the Permanent Subcommittee on Investigations
June 17, 2014 09:30AM, Room 216, Hart Senate Office Building
Member Statements
- SENATOR CARL LEVIN D (MI)
- SENATOR JOHN McCAIN R (AZ)
Agenda
The Permanent Subcommittee on Investigations has scheduled a hearing, “Conflicts of Interest, Investor Loss of Confidence, and High Speed Trading in U.S. Stock Markets,” on Tuesday, June 17, 2014, at 9:30 a.m., in Room 216 of the Hart Senate Office Building.
The Subcommittee hearing will examine conflicts of interest in the U.S. stock markets and the impact of such conflicts on consumer confidence, including in the context of high frequency trading. In particular, the hearing will focus on the conflicts of interest that arise between the obligation of brokers to provide their customers with best execution of their orders to buy or sell securities, and the brokers’ receipt of payments from other brokers for order flow and rebates from some trading venues for placing those orders directly. Witnesses will include representatives of stock exchanges, brokerage firms, and institutional investors, as well as a securities market expert. A witness list will be available Friday, June 13, 2014.
Witnesses
PANEL ONE
- BRADLEY KATSUYAMA
President & CEO
IEX Group, Inc.
New York, NY
- ROBERT H. BATTALIO
Professor of Finance, Mendoza College of Business
University of Notre Dame
Notre Dame, IN
PANEL TWO
- THOMAS W. FARLEY
President
NYSE Group
New York, NY
- JOSEPH P. RATTERMAN
Chief Executive Officer
BATS Global Markets, Inc.
Lenexa, KS
- JOSEPH P. BRENNAN
Principal and Head of Global Equity Index Group
The Vanguard Group, Inc.
Malvern, PA
- STEVEN QUIRK
Senior Vice President, Trader Group
TD Ameritrade
Omaha, NE
Watch the hearings: VIDEO