SEC Announces Agenda and Panelists for Market Structure Roundtable

Washington, D.C., May 28, 2010 — The Securities and Exchange Commission today announced the agenda and panelists for its June 2 public roundtable to examine securities market structure issues.

The roundtable will feature in-depth discussions of key market structure issues, including high-frequency trading, undisplayed liquidity and the appropriate metrics for evaluating market structure performance. Panelists include representatives of retail and institutional investors, issuers, exchanges, alternative trading systems, financial services firms, high frequency traders, and the academic community.

"The roundtable is part of an ongoing Commission effort we initiated last summer to review the structure of our markets and ensure that they are fair, transparent and efficient," said SEC Chairman Mary L. Schapiro, who announced the roundtable last month.

The Commission already has proposed rules that would:

- Establish a consolidated audit trail system to help regulators keep pace with new technology and trading patterns in the markets.
- Generally require that information about an investor's interest in buying or selling a stock be made available to the public, instead of just to a select group operating with a dark pool.
- Effectively prohibit broker-dealers from providing their customers with unfiltered access to exchanges and alternative trading systems and ensure that broker-dealers implement appropriate risk controls.
- Create a large trader reporting system to enhance the Commission's ability to identify large market participants, collect information on their trades, and analyze their trading activity.

The Commission in January also issued a concept release to solicit public comment on a wide variety of market structure topics. The release and comments received are available at http://www.sec.gov/rules/concept.shtml.

The June 2 roundtable will be held at 9:30 a.m. in the auditorium at the SEC headquarters at 100 F Street N.E., Washington, D.C. The public is invited to observe the discussion, and seating will be available on a first-come, first-served basis. Reasonable accommodations for persons with disabilities attending this event in person can be arranged by submitting a request to DisabilityProgramOfficer@SEC.gov at least three business days prior to the event. The event will be webcast live at www.sec.gov and will be archived for later viewing.