THE CONVERGENCE OF TRADING AND FINANCIAL TECHNOLOGY INNOVATION

Transcription

1 THE CONVERGENCE OF TRADING AND FINANCIAL TECHNOLOGY INNOVATION October 1, 2015 Mid-America Club Our speakers include: INNOVATIVE TECHNOLOGY TRADING STRATEGIES AND TCA REGULATION AND COMPLIANCE RISK TECHNIQUES DATA AND STORAGE AUTOMATED TRADING AND LATENCY Mike Madigan, Chief Technology Officer, WH TRADING Henry Jiang, Chief Information Security Officer, OPPENHEIMER AND COMPANY Glenn Graham, President and Chief Investment Officer, GOLDEN POINT CAPITAL Ling Shao, Chief Technology Officer, DCI Lead sponsor: Panel sponsor: Sponsors: Hosted by: In association with:

2 WELCOME LETTER I am delighted to announce that the Trading & Technology Summit is coming to Chicago on October 1st, 2015 at the Mid-America Club. The purpose of the Summit is to unite traders and investors with technology experts who can help improve their business. The event agenda will provide you with an opportunity to discover and discuss the latest strategies, hottest trends, and most advanced tools to help you improve your operational efficiency, risk management strategy and navigate the current regulatory landscape. Featuring some of the leading thinkers and practitioners in the sphere of trading, risk management and technology, the event will offer a forum for sharing best practice and cutting-edge solutions to industry challenges. Highlights include: Impact of alternative trading venues and exchanges Sourcing liquidity in fragmented markets Cloud computing in a trading environment Pre- and post-trade analytics Optimizing data strategies for improved trading The future of high frequency trading Managing technology innovation, implementation and change Market regulation and its impact on participants Implications of bitcoin and the blockchain Real-time risk management Achieving best execution Cyber security for trading firms Choice of trading venues in dark pools and lit pools Electronification of US FICC products With a blend of lively debate and expert commentary, delivered through panel discussions and in-depth presentations, the Chicago Trading and Technology Summit is not to be missed. I look forward to welcoming you in October. Yours cordially, ANTHONY MALAKIAN, US Editor, Waters and WatersTechnology REASONS TO ATTEND: Discuss the emergence of new trading venues and their impact on market participants Hear how to successfully navigate your business through the world of increased financial regulation Learn how to use regulatory changes to drive improvements in your trading and investment processes Listen to best practice from leading risk experts on real time risk management for high speed trading Enhance your knowledge and learn how to manage technology innovation, implementation and change from top Chief Technology and Information Officers Improve your approach to liquidity and understand how to source liquidity in fragmented markets Learn latest techniques and developments in transactional cost analysis Gain the opportunity to ask the questions you want answered Share ideas, meet and network with top regulators and industry representatives and academics from across the region ATTENDEES BY JOB FUNCTION: CEOs /CIOs /CROs Chief Operations/Technology/Information Officers Managing Directors Presidents / Vice Presidents Portfolio Managers Heads of Trading Quant Analysts Heads of Risk Heads of Trade Execution Heads of Software Engineering/ Quality/ Development Heads of Market Data Heads of Trading Technology Equity/Commodity/Fixed Income/FX Traders IT & Operations WHO SHOULD ATTEND: HIGH FREQUENCY TRADING FIRMS PROPRIETARY TRADING FIRMS HEDGE FUNDS ASSET MANAGERS INVESTMENT BANKS HEDGE FUNDS MARKET MAKERS EXCHANGES TRADING VENUES REGULATORS SOFTWARE PROVIDERS TECHNOLOGY COMPANIES CONSULTANCY FIRMS

3 AGENDA Morning KEY: STREAM 1 STREAM 2 8:00 REGISTRATION AND REFRESHMENTS 8:00 BREAKFAST ROUNDTABLES Attendees are invited to join discussions on specific topics of interest with other like-minded professionals over breakfast. Full details will be available on the website in advance of the event. 8:50 CHAIRMAN S OPENING REMARKS 9:00 KEYNOTE: THE ROLE OF MARKET MAKERS IN A MORE TRANSPARENT AND COMPETITIVE MARKETPLACE Speaker to be confirmed, please visit the event website for further updates 9:40 MARKET LEADERS PANEL: THE EMERGENCE OF NEW TRADING VENUES AND THEIR IMPACT ON MARKET PARTICIPANTS Latest changes in market making dynamics and their impact on liquidity Alternative trading venues vs exchanges in the new market landscape: identifying a winner Best execution, transaction costs and post-trade transparency across venues The role of dark pools vs traditional ECNs in sourcing liquidity in the market Opportunities created by the electronification of US FICC products Initiatives in buy-side to buy-side trading models Jay Feuerstein, Managing Director, Alternative Strategies Group, MANNING & NAPIER Daniel Schwartz, Managing Director, RBS Glenn Graham, President and CIO, GOLDEN POINT CAPITAL Thomas N. Rollinger, Managing Partner, Chief Investment Officer, RED ROCK CAPITAL 10:15 MORNING COFFEE AND NETWORKING BREAK 10:45 CHAIRMAN S OPENING REMARKS FOLLOWED BY PANEL: DEVELOPMENTS IN TRANSACTION COST ANALYSIS (TCA): DO THEY LIVE UP TO INDUSTRY REQUIREMENTS? Are current technologies really allowing for better real time analysis, execution control and cost management? Can an industry standard model be achieved? Effectively matching data and evaluating its representation of the market How to effectively perform TCA and adhere to current good practice Cross-asset class TCA analytics Glenn Graham, President and CIO, GOLDEN POINT CAPITAL Peter van Kleef, Managing Director, LAKEVIEW CAPITAL MARKET SERVICES Further panelists to be confirmed, please visit the event website for further updates CHAIRMAN S OPENING REMARKS FOLLOWED BY PANEL: APPLYING CLOUD COMPUTING TO SUPPORT THE TRADING AND RISK FUNCTIONS Applying cloud computing and open source technology in a trading environment How can cloud computing help analytics, compliance and risk management? The business and compliance impact of moving large parts of your enterprise and applications to the cloud Challenges associated with the move of in-house functions into the cloud Tom Tiefenworth, Head of Technology initiative, LEGG MASON Daniel Schwartz, Managing Director, RBS Robert Cornish, Chief Technology Officer, ISE Jack Kline, Chief Information Officer, SEER CAPITAL 11:30 PANEL: THE OUTLOOK FOR HFT AND MARKET REGULATION - A TRUE INDUSTRY PERSPECTIVE How long has it taken for the market to commoditize your pioneering strategies? Innovations in trade algorithms: next generation algorithms What kind of HFT behavior is detrimental to the markets (spoofing, layering, etc.)? Sarao: Real Deal or Flash Patsy What happened on Oct 15th 2014 with U.S. Treasury markets? Rajeev Ranjan, Policy Advisor, FEDERAL RESERVE BANK OF CHICAGO Elliott Lorenz, Portfolio Manager, 3RED TRADING Ricky Cooper, Assistant Professor of Finance, Stuart School of Business, ILLINOIS INSTITUTE OF TECHNOLOGY Bill Harts, Chief Executive Officer, MODERN MARKETS INITIATIVE PANEL: LEVERAGING TECHNOLOGY INNOVATION TO MANAGE REGULATION AND COMPLIANCE The evolution of faster and better pre-trade analytics Regulatory reporting and data management The challenges of market surveillance: tools, technologies and trends to effectively monitor trading activity Jerry Jeske, Group Chief Compliance Officer, MERCURIA ENERGY TRADING Marc R. Merrill, Chief Compliance Officer, E.ON GLOBAL COMMODITIES NORTH AMERICA Petar Kostur, Vice President, Chief Compliance Officer - Swap Dealer, Capital Markets and Volcker, FIFTH THIRD BANK Justin Slaughter, Chief Policy Adviser and Special Counsel, Office of Commissioner Sharon Bowen, CFTC 12:15 GUEST ADDRESS: BITCOIN AND CRYPTOCURRENCIES Glimpsing into the future of money and commerce in the digital age. Is blockchain the beginning of a long term revolution in capital markets? Speaker to be confirmed, please visit the event website for further updates 12:35 LUNCH

4 AGENDA Afternoon KEY: STREAM 1 STREAM 2 1:35 PANEL: USING REGULATORY CHANGES TO DRIVE IMPROVEMENTS IN YOUR TRADING AND INVESTMENT PROCESSES Key changes going on through regulation and enforcement: best execution, 605/606, short sale, market access rule, Basel Supplementary Coverage Ratio and Speculative position limits in the US and its implication on market participants How have execution rules under Dodd-Frank to use Swap Execution Facilities impacted competition for investors? New enforcement of CFTC s Disruptive trading practices and its impact on trading Are high frequency traders able to buy an unfair advantage over other more traditional market participants? How should HFT be regulated? Among the various regulatory changes which have occurred in the US and are slated to soon occur in Europe, which are most critical to delivering benefits for end investors? Which are more unhelpful, what should we see more of? Future regulation of dark pools Mehmet Yanilmaz, Partner, MYRA TRADING John McPartland, Senior Policy Advisor, Financial Markets Group, FEDERAL RESERVE BANK OF CHICAGO Daniel Mezydlo, Exam Manager, SEC Paul Hamill, Global Head of FICC, CITADEL SECURITIES PANEL: OPTIMIZING YOUR DATA STRATEGY TO ENHANCE TRADING PERFORMANCE Utilizing Big Data analysis and Big Data technology platforms to produce more data inputs and better trading decisions Applying technology to extract more value from new data sources and new forms of unstructured content Taking advantage of co-location facilities, cloud computing platforms and virtualized datacenters to ease the information overload Improving latency and reducing execution costs Leveraging relationships with data providers to maximize data quality, optimize data strategy and comply with regulations and licensing obligations Tom Etheridge, Managing Director, JORDAN & JORDAN Andrew Kurmiega, Adjunct Professor, School of Applied Technology, ILLINOIS INSTITUTE OF TECHNOLOGY Alexander Fleiss, CEO, REBELLION RESEARCH 2:20 PANEL: REAL-TIME RISK FOR HIGH SPEED TRADING General alert systems- how to catch an abnormal situation and deviation from what should be happening Limitations of current risk systems Real-time pre-trade risk management tools How much latency is acceptable to be able to manage risk real-time pre-trade? Can CRO s truly prevent another Knight Capital? William Nunez, Director, CREDIT SUISSE ASSET Peter van Kleef, Managing Director, LAKEVIEW CAPITAL MARKET SERVICES Elliot Noma, Managing Director, GARRETT ASSET CIO/CTO PANEL: MANAGING TECHNOLOGY INNOVATION, IMPLEMENTATION AND CHANGE Where should tech budgets be spent to deliver the best ROI Enhancing your technology infrastructure to increase your performance, agility and speed of change Optimal vendor management, contract negotiation and SLAs Enhancing cyber resilience in your firm Sourcing and retaining IT talent. Build in-house or buy? What is the competitive advantage? Mike Madigan, Chief Technology Officer, WH TRADING Henry Jiang, Executive Director and Chief Information Security Officer, OPPENHEIMER AND COMPANY Ling Shao, Chief Technology Officer and Principal, DCI 3:05 AFTERNOON COFFEE AND NETWORKING BREAK 3:25 PRESENTATION: SOURCING LIQUIDITY IN FRAGMENTED MARKETS The implication of the lack of liquidity on banks, trading firms and the buy-side Are we prepared for a liquidity crisis? How liquidity differs between markets Stu Taylor, Chief Executive Officer, ALGOMI 3:55 C-LEVEL PANEL: WHAT DO TRADERS NEED FROM I.T TO DRIVE A COMPETITIVE ADVANTAGE? What specific technology can you include to help firms to gain a competitive advantage? Keeping up with technology and risk tools that can be integrated into proprietary systems How should traders, risk and technology professionals collaborate with technology across the firm to improve trade and risk analytics? Can you survive if you don t do it efficiently? The Chief Information Officer and the trading floor ensuring technology supports the trading function Jack Kline, Chief Information Officer, SEER CAPITAL Further panelists to be confirmed, please visit the event website for further updates 4:40 CLOSING REMARKS: BRINGING IT ALL TOGETHER: KEY TAKEAWAYS FROM THE EVENT 4:50 COCKTAIL RECEPTION

5 SPEAKERS Jay Feuerstein, Managing Director, Alternative Strategies Group, MANNING & NAPIER Glenn Graham, President and Chief Investment Officer, GOLDEN POINT CAPITAL Jerry Jeske, Group Chief Compliance Officer, MERCURIA ENERGY TRADING Henry Jiang, Chief Information Security Officer, OPPENHEIMER AND COMPANY Andrew Kurmiega, Adjunct Professor, School of Applied Technology, ILLINOIS INSTITUTE OF TECHNOLOGY John McPartland, Senior Policy Advisor, Financial Markets Group, FEDERAL RESERVE BANK OF CHICAGO Marc R. Merrill, Chief Compliance Officer, E.ON GLOBAL COMMODITIES NORTH AMERICA Ling Shao, Chief Technology Officer, DCI Petar Kostur, Vice President, Chief Compliance Officer - Swap Dealer, Capital Markets and Volcker, FIFTH THIRD BANK Mehmet Yanilmaz, Partner, MYRA TRADING Justin Slaughter, Chief Policy Adviser and Special Counsel, Office of Commissioner Sharon Bowen, CFTC William Nunez, Director, CREDIT SUISSE ASSET NEXT EVENT

6 SPONSORS Lead Sponsor: ALGOMI Network that enables all market participants to securely and intelligently harness data to make valuable financial trading connections. In the ever-changing landscape of capital, leverage and liquidity requirements, Algomi s revolutionary technology empowers fixed income professionals to fulfil their precise needs, for both sides of the market. By maximising the relationships between salespeople, traders and investors, the Algomi Honeycomb suite of scalable software greatly increases the opportunities and velocity in large and illiquid voice trades between banks and institutional investors. With tenacity and integrity, Algomi unlocks the full potential of the fixed income market through pioneering and pragmatic technology.we are Algomi and we want to show you what s next. Algomi was founded in 2012 by Stu Taylor (Former Global Head of Matched Principal Trading and creator of PIN-FI at UBS), Usman Khan and Robert Howes (Founders of CAPXD), and Michael Schmidt (Former Head of European Credit Trading and IB Board Member at UBS. Backed by investment from Lakestar and an exceptional panel of Strategic Advisors, the Algomi team has grown to 140 employees with offices in London, New York and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston. algomi.com Panel Sponsor: INTERNATIONAL SECURITIES EXCHANGE International Securities Exchange Holdings, Inc. (ISE Holdings) operates two U.S. options exchanges, ISE and ISE Gemini, and delivers a superior trading experience to its member firms through its patented market structure, industry-leading technology, unique functionality for trading complex orders, and award-winning customer service. In addition to the options business, ISE ETF Ventures provides its partners with a broad range of capabilities in index development, index licensing, and financing of exchange-traded products. ISE Market Data also offers a full suite of advanced real-time and historical data solutions. ISE Holdings technology division fosters and infuses new efficiencies and operational innovations in securities trading. Since its launch, ISE Holdings has remained committed to continually enhancing its trading systems to provide investors with the best marketplace to execute their options orders. ise.com Sponsors: CAPE CITY COMMAND Cape City Command produces purpose-built appliances for electronic trading. Our technology creates a new product category. We are not about passive monitoring and measurements. We are all about enabling automatic, continuous, and preemptive actions that seize opportunities and avoid problems in real time. For example, the CC-7090 Trade Xccelerator enables trades to be routed to the exchange session with the current least latency, thereby improving order ack times. capecitycommand.com MICROSOFT CORPORATION Microsoft Corporation is an American multinational technology company headquartered in Redmond, Washington, that develops, manufactures, licenses, supports and sells computer software, consumer electronics and personal computers and services. Its best known software products are the Microsoft Windows line of operating systems, Microsoft Office suite, and Internet Explorer web browser. Its flagship hardware products are the Xbox game consoles and the Microsoft Surface tablet lineup. microsoft.com

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