Meeting Date:
Thursday, April 19, 2012
CFTC Staff:
Aravit Menon
George Pullen
John Paul Rothenberg
Lynn Riggs
Esen Onur
Nhan Nguyen
Stephen Sherrod
Organization(s):
Kinetix Trading Solutions
External Attendees:
George Bollenbacher (Kinetix Trading Solutions)
Mike Sherman (Kinetix Trading Solutions)
Amit Karande (Kinetix Trading Solutions)
Additional Information:
Meeting with Kinetix Trading Solutions to discuss Block Trade FNPRM
i. Recommend running the 67-percent notional amount calculation for every individual swap UPI not by swap category;
ii. Recommend that each strike price for an option have an individual UPI and therefore individual block trade size;
iii. Recommend running block trade calculations monthly instead of yearly and publishing new sizes on the 3rd day of each month with compliance required by the 5th day of each month to provide market participants with certainty of the rules and publication schedule;
iv. Recommend swaps with very low trading volume have all trades be treated as block trades.
