Hearings
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Dark Pools, Flash Orders, High Frequency Trading, and Other Market Structure Issues

Securities, Insurance, and Investment

Wednesday, October 28, 2009
09:30 AM - 12:30 PM
538 Dirksen Senate Office Building

[view archive webcast]

The witness on Panel I will be: The Honorable Edward Kaufman, United States Senator. The witnesses on Panel II will be: James A. Brigagliano, Esq., Co-Acting Director of the Division of Trading and Markets, U.S. Securities and Exchange Commission; Dr. Frank Hatheway, Senior Vice President and Chief Economist, NASDAQ OMX; William O'Brien, Esq., Chief Executive Officer, Direct Edge; Mr. Christopher Nagy, Managing Director of Order Routing Sales & Strategy, Ameritrade; Mr. Daniel Mathisson, Managing Director and Head of Advanced Execution Services, Credit Suisse; Mr. Robert C. Gasser, President and Chief Executive Officer, Investment Technology Group; Mr. Peter Driscoll, Chairman, Security Traders Association; and Mr. Adam C. Sussman, Director of Research, TABB Group.

Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.

Minority Statements

Witnesses

Panel 1

Panel 2

  • James A. Brigagliano, Esq. [view testimony]
    Co-Acting Director of the Division of Trading and Markets
    U.S. Securities and Exchange Commission
  • Mr. Frank Hatheway [view testimony]
    Senior Vice President and Chief Economist
    NASDAQ OMX
  • William O'Brien, Esq. [view testimony]
    Chief Executive Officer
    Direct Edge
  • Mr. Christopher Nagy [view testimony]
    Managing Director of Order Routing Sales & Strategy
    Ameritrade
  • Mr. Dan Mathisson [view testimony]
    Head of U.S. Equity Trading
    Credit Suisse Securities LLC
  • Mr. Robert C. Gasser [view testimony]
    Chief Executive Officer and President
    Investment Technology Group
  • Mr. Peter Driscoll [view testimony]
    Chairman
    Security Traders Association
  • Mr. Adam C. Sussman [view testimony]
    Director of Research
    TABB Group

2009 Hearings

2009

December 17th Executive Session to Vote on Nominees
538 Dirksen Senate Office Building
9:30 AM - 11:00 AM
December 10th Examining the Federal Role in Overseeing the Safety of Public Transportation Systems
538 Dirksen Senate Office Building
9:30 AM - 12:30 PM
December 9th Weathering the Storm: Creating Jobs in the Recession
538 Dirksen Senate Office Building
2:00 PM - 4:00 PM
December 3rd Hearing on the nomination of The Honorable Ben S. Bernanke
106 Dirksen Senate Office Building
10:00 AM - 4:00 PM
November 19th Executive Session: to consider Opening Statements on an original bill entitled: “Restoring American Financial Stability Act of 2009”
325 Russell Senate Office Building, room 325
10:00 AM - 5:00 PM
November 17th Protecting Consumers from Abusive Overdraft Fees: The Fairness and Accountability in Receiving Overdraft Coverage Act
538 Dirksen Senate Office Building
3:00 PM - 5:30 PM
November 10th Ending Veterans’ Homelessness
538 Dirksen Senate Office Building
10:00 AM - 12:00 AM
November 5th Nominations Hearing
538 Dirksen Senate Office Building
9:30 AM
October 29th EXECUTIVE SESSION to MARK-UP an original bill entitled: “Comprehensive Iran Sanctions, Accountability and Divestment Act of 2009” and VOTE on the revised subcommittee organization for the 111th Congress.
538 Dirksen Senate Office Building
2:30 PM - 4:00 PM
October 29th Modernizing Affordable Housing for Seniors and People with Disabilities
538 Dirksen Senate Office Building
10:30 AM - 12:30 PM
October 28th Dark Pools, Flash Orders, High Frequency Trading, and Other Market Structure Issues
538 Dirksen Senate Office Building
9:30 AM - 12:30 PM
October 20th The State of the Nation’s Housing Market
538 Dirksen Senate Office Building
9:30 AM - 12:30 PM
October 14th Examining the State of the Banking Industry
538 Dirksen Senate Office Building
2:30 PM - 5:00 PM
October 9th Restoring Credit to Manufacturers
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
October 8th Future of the Mortgage Market and the Housing Enterprises
538 Dirksen Senate Office Building
9:30 AM - 12:30 PM
October 7th Securitization of Assets: Problems and Solutions
538 Dirksen Senate Office Building
2:30 PM - 5:00 PM
October 6th Minimizing Potential Threats from Iran: Administration Perspectives on Economic Sanctions and Other US Policy Options
106 Dirksen Senate Office Building
9:30 AM - 12:30 PM
September 30th International Cooperation to Modernize Financial Regulation
538 Dirksen Senate Office Building
2:30 PM - 4:30 PM
September 29th Strengthening and Streamlining Prudential Bank Supervision (continuation of the August 4, 2009 hearing)
538 Dirksen Senate Office Building
2:00 PM - 5:00 PM
September 24th (Hearing has been POSTPONED) Securitization of Assets: Problems and Solutions
538 Dirksen Senate Office Building
2:30 PM
September 24th Emergency Economic Stabilization Act: One Year Later
538 Dirksen Senate Office Building
9:30 AM - 12:30 PM
September 21st Helping Homeowners Avoid Foreclosure
One Bergen County Plaza, Hackensack, New Jersey, Bergen County Administration Building, room Freeholders Public Meeting Room
12:00 PM
September 10th Oversight of the SEC’s Failure to Identify the Bernard L. Madoff Ponzi Scheme and How to Improve SEC Performance
538 Dirksen Senate Office Building
2:30 PM - 5:30 PM
August 17th Alleged Stanford Financial Group Fraud: Regulatory and Oversight Concerns and the Need for Reform
Louisiana State Police Training Academy Auditorium, 7901 Independence Boulevard, Baton Rouge, Louisiana , room Building A
1:30 PM
August 5th Examining Proposals to Enhance the Regulation of Credit Rating Agencies
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
August 4th Rail Modernization: Getting Transit Funding Back on Track
538 Dirksen Senate Office Building
2:30 PM - 4:30 PM
August 4th Strengthening and Streamlining Prudential Bank Supervision
538 Dirksen Senate Office Building
9:00 AM - 11:45 AM
July 30th Minimizing Potential Threats from Iran: Assessing Economic Sanctions and Other US Policy Options
538 Dirksen Senate Office Building
10:00 AM - 1:00 PM
July 29th Protecting Shareholders and Enhancing Public Confidence by Improving Corporate Governance
538 Dirksen Senate Office Building
2:30 PM - 4:30 PM
July 28th Executive Session to Vote on a Nominee
538 Dirksen Senate Office Building
9:30 AM - 10:30 AM
July 28th Regulatory Modernization: Perspectives on Insurance
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
July 23rd Executive Session to Mark-up and vote on "The Public Transportation Extension Act of 2009"
538 Dirksen Senate Office Building
9:30 AM - 11:30 AM
July 23rd Establishing a Framework for Systemic Risk Regulation
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
July 22nd Nomination Hearing
538 Dirksen Senate Office Building
3:00 PM - 4:30 PM
July 22nd The Semiannual Monetary Policy Report to the Congress
106 Dirksen Senate Office Building
10:00 AM - 1:00 PM
July 17th The U.S. as Global Competitor: What are the Elements of a National Manufacturing Strategy?
538 Dirksen Senate Office Building
10:00 AM - 12:00 PM
July 16th Preserving Homeownership: Progress Needed to Prevent Foreclosures
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
July 15th Regulating Hedge Funds and Other Private Investment Pools
538 Dirksen Senate Office Building
2:30 PM - 4:30 PM
July 14th Creating a Consumer Financial Protection Agency: A Cornerstone of America’s New Economic Foundation
538 Dirksen Senate Office Building
9:00 AM - 11:30 AM
July 8th The Effects of the Economic Crisis on Community Banks and Credit Unions in Rural Communities
538 Dirksen Senate Office Building
2:00 PM - 4:30 PM
July 7th Public Transportation: A Core Climate Solution
538 Dirksen Senate Office Building
9:30 AM - 11:30 AM
June 25th Executive Session to Vote on Nominations
To Be Determined
11:00 AM
June 22nd Over-the-Counter Derivatives: Modernizing Oversight to Increase Transparency and Reduce Risks
538 Dirksen Senate Office Building
3:00 PM - 5:30 PM
June 18th The Administration’s Proposal to Modernize the Financial Regulatory System
216 Hart Senate Office Building, room 216
9:30 AM - 12:30 PM
June 16th Greener Communities, Greater Opportunities: New Ideas for Sustainable Development and Economic Growth
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
June 10th The State of the Domestic Automobile Industry: Impact of Federal Assistance
2:30 PM - 5:30 PM
June 10th Executive Session to Vote on Nominations
538 Dirksen Senate Office Building
2:30 PM
June 4th Nomination Hearing
9:30 AM - 12:00 PM
June 3rd A Fresh Start for New Starts
2:00 PM - 4:00 PM
May 21st Executive Session to Vote on Nominations
S-216, The Capitol, room S-216
10:30 AM
May 20th Oversight of the Troubled Assets Relief Program
538 Dirksen Senate Office Building
9:30 AM - 12:00 PM
May 13th Nomination Hearing
538 Dirksen Senate Office Building
2:00 PM - 3:30 PM
May 13th Manufacturing and the Credit Crisis
538 Dirksen Senate Office Building
10:30 AM - 12:00 PM
May 7th Strengthening the S.E.C.’s Vital Enforcement Responsibilities
538 Dirksen Senate Office Building
2:30 PM - 5:00 PM
May 6th Regulating and Resolving Institutions Considered ‘Too Big to Fail’
538 Dirksen Senate Office Building
9:00 AM - 12:00 PM
April 28th Executive Session to Vote on Nominations
538 Dirksen Senate Office Building
10:00 AM - 11:00 AM
April 23rd Nomination Hearing
538 Dirksen Senate Office Building
10:30 AM - 1:30 PM
April 16th A 21st Century Transportation System: Reducing Gridlock, Tackling Climate Change, and Growing Connecticut’s Economy
The Hall of Records, 200 Orange Street, New Haven, Connecticut
10:00 AM
March 31st Lessons from the New Deal
538 Dirksen Senate Office Building
2:30 PM - 5:00 PM
March 31st EXECUTIVE SESSION to MARK-UP and VOTE on S. 414, Credit Card Accountability Responsibility and Disclosure Act of 2009
538 Dirksen Senate Office Building
10:00 AM - 11:30 AM
March 26th Enhancing Investor Protection and the Regulation of Securities Markets – Part II
9:30 AM - 1:30 PM
March 24th Modernizing Bank Supervision and Regulation, Part II
538 Dirksen Senate Office Building
10:00 AM - 1:00 PM
March 19th Current Issues in Deposit Insurance
538 Dirksen Senate Office Building
2:00 PM - 3:30 PM
March 19th Modernizing Bank Supervision and Regulation "Video Courtesy of C-SPAN"
538 Dirksen Senate Office Building
10:30 AM - 2:00 PM
March 18th Lessons Learned in Risk Management Oversight at Federal Financial Regulators
538 Dirksen Senate Office Building
3:00 PM - 5:30 PM
March 17th Perspectives on Modernizing Insurance Regulation
538 Dirksen Senate Office Building
9:30 AM - 2:00 PM
March 12th Sustainable Transportation Solutions: Investing in Transit to Meet 21st Century Challenges
538 Dirksen Senate Office Building
10:00 AM
March 10th Enhancing Investor Protection and the Regulation of Securities Markets
538 Dirksen Senate Office Building
10:30 AM
March 5th American International Group: Examining what went wrong, government intervention, and implications for future regulation
538 Dirksen Senate Office Building
10:00 AM
March 3rd Consumer Protections in Financial Services: Past Problems, Future Solutions
538 Dirksen Senate Office Building
10:00 AM
February 26th Homeowner Affordability and Stability Plan
538 Dirksen Senate Office Building
10:00 AM
February 24th The Semiannual Monetary Policy Report to the Congress
216 Hart Senate Office Building, room 216
10:00 AM
February 24th Executive Session to Vote on the Committee's Rules of Procedure
216 Hart Senate Office Building, room 216
10:00 AM
February 12th Modernizing Consumer Protection in the Financial Regulatory System: Strengthening Credit Card Protections
538 Dirksen Senate Office Building
10:00 AM
February 10th Executive Session
106 Dirksen Senate Office Building
2:30 PM
February 10th Oversight of the Financial Rescue Program: A New Plan for the TARP
538 Dirksen Senate Office Building
2:30 PM
February 5th Pulling Back the TARP: Oversight of the Financial Rescue Program
538 Dirksen Senate Office Building
10:00 AM
February 4th Modernizing the U.S. Financial Regulatory System
538 Dirksen Senate Office Building
3:00 PM
January 27th Madoff Investment Securities Fraud: Regulatory and Oversight Concerns and the Need for Reform
538 Dirksen Senate Office Building
10:00 AM
January 15th Nomination Hearing
538 Dirksen Senate Office Building
10:00 AM
January 13th Nomination Hearing
538 Dirksen Senate Office Building
10:00 AM