The purpose of this hearing will be to explore the
impact of electronic trading on the derivatives industry and its regulation,
including 1) how this industry will look in the near- and long-term as
a result of technological advances; 2) which electronic trading activity
should be regulated under the Commodity Exchange Act and which activity
should not; and 3) if an electronic exchange falls within the jurisdiction
of the Commodity Exchange Act, should it be regulated differently than
an open outcry exchange.
Opening Statement by Chairman Richard G. Lugar
United States Senator for Indiana
The witnesses follow:
Panel I
Roger Barton
BrokerTec Global, LLC
David P. Brennan and Thomas Donovan
Chicago Board of Trade
Shawn Dorsch
Derivatives Net, Inc. (Blackbird)
Howard Lutnick
Cantor Fitzgerald
Leo Melamed
Chicago Mercantile Exchange
Edward J. Rosen
Coalition of Commercial and Investment Banks
Panel II
David Downey
Interactive Brokers LLC
Phil Johnson
Skadden Arps, Slate, Meagher & Flom
Matt Andresen
Island ECN.