Programme

FULL AGENDA - Wednesday, 1st July, 2009

08:30 Registration and breakfast

09:00 Chairman's opening remarks

Victor Anderson, Editor, BUY-SIDE TECHNOLOGY
Daniel Morgan, Publisher, DEALING WITH TECHNOLOGY and BUY-SIDE TECHNOLOGY

09:10 KEYNOTE ADDRESS : The EU Regulatory Model- Challenges and Foreseen Changes in the securities markets regulation.

Michael Fridrich, Legal and Policy Affairs Officer, EUROPEAN COMMISSION

09:40 PANEL: The battle between home-grown and vendor-provided technology: Who will throw the final blow?

When does it make sense to build or buy, and which ensures optimal ROI?
How the decision is impacted by the type of asset class traded and institution
Developing the infrastructure to handle cross-asset trading
Incorporating complex event processing
Deploying low-latency execution infrastructures
Examining the current trading solutions and their limitations
Assessing the impact of budgetary constraints on the build vs. buy decision
Migrating capital expenditure to operational expenditure via managed services

Moderator: Martin Toyer, CTO, NYLON CAPITAL
Oliver Albers, Senior Managing Director, Global Data Products,
The NASDAQ OMX GROUP
Simon Hazlitt, Co-Founder and Chief Operating Officer, MAJEDIE ASSET MANAGEMENT
Gulamabbas Lakha, CEO and Chief Investment Officer, PROVIDENTIA CAPITAL
Lincoln Osunkoya, Account Director, STREAMBASE
Barney Walker, Chief Technology Officer for IB Global Rates, FX and TECM, J.P.MORGAN

10:40 Morning break

11:10 PRESENTATION: The impact of a fragmented market on liquidity management

Strategies to navigate market fragmentation
Liquidity aggregation tools
Achieving best execution in a fragmented market
Impact of MiFID on market structure
Trading in new asset classes: The emergence of electronic cross-asset and multi-asset class trading
How are the buy- and sell-side adapting to this fragmented landscape?

Tom Middleton, Head of European Algorithmic Trading, CITI

11:40 PANEL: Wising up on smart order routing

Using smart order routing to optimise trade flow and locate hidden liquidity
The role of smart order routing in achieving best execution
How competitive can one remain without smart order routing?
Smart order routing and the challenges of trading through multiple venues
The impact of smart order routing on direct market access

Moderator: Bob Giffords, BANKING AND TECHNOLOGY ANALYST
Betsy Anderson, Head of Centralised Dealing, IGNIS ASSET MANAGEMENT
Alex Foster, Head of UK Sales, Global Execution Services, BNP PARIBAS
Andrew Morgan, Head of Autobahn Equity Europe, DEUTSCHE BANK
Patrik Ristner, Head of UK Sales, NEONET
Edward Strauss, Head of Sales and Electronic Trading, BAADER BANK
Tim Wildenberg, Head of Direct Execution, Europe, UBS

12:40 Lunch break

1:40 PRESENTATION: Using transaction cost analysis to measure best execution

Assembling flexible TCA tools to allow for multiple benchmarks
Choosing the best benchmark for trading conditions
Reliability of pre-and post-trade tools and real time monitoring
How can the buy side ensure objective TCA?
Is TCA the optimal way to measure best execution?
Measuring TCA throughout the entire trade life-cycle: How close are we to achieving it?

Richard Semark, Managing Director, European Client Trading and Execution, UBS

2:10 PANEL: Trading dark liquidity pools: The survival of the fittest

Proliferation of dark pools and their market impact
Predicting liquidity in dark pools and measuring their effectiveness
Aggregating dark pools
Avoiding toxic dark pools
Impact of dark pools on traditional exchanges
The emergence of grey pools

Moderator: Toby Bayliss, Head of Portfolio and Algorithmic Trading, Europe, SANFORD C. BERNSTEIN
Scott Bradley, Head of Sales EMEA, Electronic Client Solutions, JPMORGAN
Takis Christias, Director, Electronic Execution Sales and Analytics, CITI
Lee Hodgkinson, Chief Executive Officer, SMARTPOOL TRADING
Stephane Loiseau, Managing Director, Head of Execution Services, SOCIETE GENERALE
Simon Maisey, Global Head of Rates e-Commerce, J.P.MORGAN
Clemens Reuter, Head of Clients & Product Management, SIX SWISS EXCHANGE

3:10 Afternoon break

3:40 PANEL: Algorithmic trading as a viable solution to sourcing liquidity

Customising algorithms to meet trading strategies
How have algorithms managed the recent extreme volatility?
Managing the systemic risk associated with algorithmic trading
Algorithmic trading in dark pools and liquidity seeking algorithms
Benchmarking algorithmic trading
Algorithmic trading across different asset classes
Assessing the implementation of next-generation algorithms

Moderator: Victor Anderson, Editor, BUY-SIDE TECHNOLOGY
Gangadhar Darbha, Product Manager, Algorithmic Trading, ROYAL BANK OF SCOTLAND
Rishi Karir, Director AES Sales, CREDIT SUISSE
Brian Schwieger, Head of EMEA Algorithmic Execution, BANK OF AMERICA MERRILL LYNCH
Michael Seigne, Head of European Algorithmic Trading Sales, GOLDMAN SACHS

4:40 KEYNOTE ADDRESS : How electronic market-makers are complementing fragmented markets

Examining the consequences of the current market structure on best execution
How can firms achieve best execution in extreme market conditions?
How have trading volumes impacted best execution?
How have trading costs impacted best execution?
Is a fragmented market pushing for consolidation of trading actors?
Investigating the impact of counterparty risk on trade execution decisions

Matteo Cassina, President, Citadel Execution Services Europe, CITADEL CAPITAL MARKETS

5:10 Chairman’s closing remarks