Equities Leaders Summit USA 2017

December 04-December 06, 2017

Eden Roc, Miami Beach

+44 207.368.9445

Day 2 - Tuesday 5th December 2017

Maintaining A Competitive Edge Amidst Market Uncertainty

07:30 AM - 08:25 AM Registration And Networking Coffee

08:25 AM - 08:30 AM Welcome Address: Lucy Bradley, Editorial Director, Worldwide Business Research

08:30 AM - 08:35 AM Chairperson’s Opening Remarks

John Lowrey, Global Head of Cash Product Strategy, Citi

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John Lowrey

Global Head of Cash Product Strategy
Citi

08:35 AM - 09:15 AM Opening Keynote Panel: A view from the top: What are the major priorities for buy side global heads of trading as we move into another year of uncertainty in the equities marketplace?

Vlad Khandros, Global Head of Market Structure and Liquidity Strategy, UBS Paul Whitehead, Managing Director, Global Head of Equity Trading, BlackRock Frank Loughlin, Global Co-Head of Equity Trading, AllianceBernstein
  • What are the key challenges and opportunities posed by today's complex marketplace and what can you do to stay ahead of the game?

  • Aligning your strategy for 2018: What developments are set to transform the equity landscape and how will this impact buy side interaction across the market value chain?

  • Exploring new market entrants: How can you better leverage technology to improve desk performance and efficiency whilst remaining compliant?

  • What will equity desk best practice look like as we move into another year of trading in a multifaceted environment?


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Paul Whitehead

Managing Director, Global Head of Equity Trading
BlackRock
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Vlad Khandros

Global Head of Market Structure and Liquidity Strategy
UBS
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Frank Loughlin

Global Co-Head of Equity Trading
AllianceBernstein

9:15 AM - 9:35 AM Inspirational Keynote: Exploiting multi-asset trading capabilities: How can you successfully leverage the latest cross-asset trading technologies to streamline your workflow and boost the profitability of your desk?

Chris Rice, Senior Managing Director and Global Head of Trading, State Street Global Advisors
  • How to break down internal barriers to reap huge business benefits with multi-asset trading
  • How can you build a seamless multi-asset trading desk to increase exposure to new alpha opportunities?
  • How to pinpoint the best technologies to support a multi-asset strategy and set your desk up for success in the face of declining headcount
  • How can you implement a technology-enabled trade desk to boost internal processes and help you successfully navigate uncertain market environments?


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Chris Rice

Senior Managing Director and Global Head of Trading
State Street Global Advisors
  • How are sell side services evolving to best serve the buy side in an increasingly complex marketplace?

  • How are technology innovations from outside the industry being leveraged to help the buy side navigate the complex equities market?

  • How can transparency be increased with new buy side and sell side initiatives to build and maintain trust?

  • How are the sell side evolving their business models to increase collaboration with the buy side and provide an end to end service?


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Curt Engler

Head of Equity Trading, The Americas
JP Morgan AM
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Ben Polidore

Managing Director, Head of Algorithmic Trading
ITG
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Jim Ross

Managing Director, Institutional Equities
CODA
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Mani Singh

Director, Global Execution Sales
Citi
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John Roeser

Associate Director, Office of Market Supervision, Division of Trading and M
U.S. Securities and Exchange Commission (SEC)

10:05 AM - 10:30 AM Regulatory Keynote: Updates from the SEC: Which regulatory initiatives should you deprioritize as a result of Trump’s new administration and how can you best prepare for the intended and unintended consequences of the reforms that are being implemented?

  • Under Trump which financial services regulations are being prioritized and deprioritized?

  • What is the latest status of Reg NMS and how will the enforcement impact equity market structure?

  • What are the ramifications of the targeted roll back of Dodd Frank reforms?

  • How are the US regulators accounting for the way in which MIFID II impacts US firms? How can you best prepare for the intended and unintended consequences of these multiple regulatory updates?


10:30 AM - 11:15 AM Morning Networking Break

Exploring Trading Trends

11:15 AM - 11:50 AM 360 Perspective Panel Discussion: Future market structure outlook and the implications for sell side, venues and technology players- which business models and types of products and services will come out on top in 2018 and beyond?

John Lowrey, Global Head of Cash Product Strategy, Citi Eric Stockland, Chief Strategy Officer, IEX Curtis Pfeiffer, Chief Business Officer, Pragma Trading Justin Schack, Partner, Head of Market Structure, Rosenblatt Securities Tara Muller, Head of Off-Exchange Liquidity, Virtu Financial
  • How are regulatory changes impacting equity market structure and what can you do to remain competitive?
  • How are sell side adapting to changes in market structure and performance to add value to the buy side?
  • How will consolidation affect the equities market and will it trigger changes in liquidity?
  • How are the sell side implementing innovations from outside the industry to improve performance in the equity market?
  • Which new trading technologies will be required by market players in 2018 and beyond to respond to these changes?

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Eric Stockland

Chief Strategy Officer
IEX
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Curtis Pfeiffer

Chief Business Officer
Pragma Trading
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John Lowrey

Global Head of Cash Product Strategy
Citi
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Justin Schack

Partner, Head of Market Structure
Rosenblatt Securities
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Tara Muller

Head of Off-Exchange Liquidity
Virtu Financial

11:50 AM - 12:10 PM Exploring key trends in institutional ETF trading: How can the buy side build a successful trading strategy to win with ETFs?

Joe Mahoney, Institutional Sales & Trading, Jane Street
  • How are institutions assessing liquidity, and how does this impact how they trade ETFs?
  • How do institutions conduct pre-trade analysis on ETFs? How do they evaluate post-trade?
  • Who are they executing orders through and using which methods?
  • Impact of the growth of RFQ platforms on liquidity and counterparties


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Joe Mahoney

Institutional Sales & Trading
Jane Street
  • How can block trading help you to source liquidity in the fragmented equity landscape?

  • What are the key strategy considerations in successfully trading a block?

  • How do you select the most appropriate venues in the hunt to find block liquidity?

  • How can you work with brokers to create a best in breed block trading strategy?

  • How can you best interact with block crossing platforms in the search for optimal liquidity?

  • How what percentage of 2017 trades were blocks and how will this look moving into 2018?

  • How does your trading desk need to adapt to take full advantage of block trading?

  • How are the sell side building out their block functionality in response to increased buy side demands for better execution of high volume orders?


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Eden Simmer

Senior Vice President, Head of Americas Equity Trading
PIMCO
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Ramy Saad

Head Trader
Pershing Square Capital Management
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Jonathan Clark

CEO
Luminex Trading & Analytics
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Tim Mahoney

CEO
BIDS Trading
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John Lowrey

Global Head of Cash Product Strategy
Citi

12:50 PM - 1:10 PM Inspirational Case Study: Bringing finance back to the forefront of innovation: How to leverage the latest technologies that are widely used outside of the finance sector to enhance your trading workflow efficiency and boost profitability

Kenneth McLeish, Managing Director, Global Head of Equities Trading Technology, JPMorgan Asset Management
  • Investing in multi-asset solutions: How can you better evaluate and evolve your trading technology to optimise your in-house processes?

  • How can you best seamlessly integrate new agile tech suites onto your desk?

  • Future proofing your desk: How can you take advantage of developments in cloud and open source technology to increase your operational competencies?

  • How to utilise machine learning techniques to automate manual processes and free up trader time for high value tasks to better serve your clients

  • How can you leverage innovations and developments from outside the financial sector to boost your performance


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Kenneth McLeish

Managing Director, Global Head of Equities Trading Technology
JPMorgan Asset Management

1:10 PM - 2:10 PM Networking Lunch

1:10 PM - 2:10 PM Exclusive Invite Only Buy Side Think-Tank: How can the buy side better collaborate with the wider value chain to drive new initiatives forward?

Open to 15 Heads of Equity Trading

Lunch will be served during this session at Nobu


Achieving Best Execution

2:10 PM - 2:55 PM Panel Discussion: The impact of MIFID II on US buy side firms-What is the definition of best execution under a more complex new regime?

Spencer Mindlin, Senior Analyst, Aite Group Tyler Platte, Director of Global Equity Trading, Rainier Investment Management , , Lori Hoch, COO, Cortina Asset Management Eden Simmer, Senior Vice President, Head of Americas Equity Trading, PIMCO
  • Benchmarking the MiFID II checklist: How have different buy side firms prepared for operating under MiFID II?

  • Achieving global synergy with best practice: Should US desks adhere to the highest global regulatory standard to provide consistency for EU clients and ensure industry compliance?

  • How can US traders take steps to align with MiFID II best practice to increase transparency for clients and remain competitive?

  • How will global and domestic firms be impacted by market ramifications of MiFID II?

  • What impact will MiFID II have on buy side and sell side relationships?

  • Exploring further down the road: What will MiFID II look like when it is fully implemented by the US market and what affect will it have on US based clients?


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Spencer Mindlin

Senior Analyst
Aite Group
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Tyler Platte

Director of Global Equity Trading
Rainier Investment Management
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Lori Hoch

COO
Cortina Asset Management
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Eden Simmer

Senior Vice President, Head of Americas Equity Trading
PIMCO

Achieving Best Execution

2:55 PM - 3:40 PM Case Study Interactive: What does the future of transaction reporting look like under MiFID II and how will this affect your desk?

  • How to determine who holds the responsibility for transaction reporting

  • How can you ensure you are meeting compliance requirements to achieve true transparency?

  • How can you evaluate the pros and cons of in-house building vs outsourcing of transaction reporting?

  • How is the sell side ensuring that reports are completed with all the required data and information?

  • Who are the new comers to the transaction reporting market and what advantages are they offering?


  • Supporting best execution: How are current TCA platforms performing with increasing trading volumes and their related data streams?

  • Accessing actionable trading insights: How can you embed intelligence into your TCA to reach optimum operational efficiency?

  • Next steps with TCA: How can you analyze and clean data on a huge scale?

  • Using pre-trade analytics: How can you best leverage TCA in real-time to increase pre and intra-trade intelligence and achieve best execution?

  • How can you use TCA to measure your trading performance and reaffirm your investment strategies?

  • What are the TCA requirements for 2018?


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Miles Huffman

Head of Equity Analytics and TCA
Vanguard
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Jay Wolstenholme

Senior Analyst, Securities and Investments Group
Celent
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Teresa Woodard

VP, Equity Trading Analyst
T. Rowe Price
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Mark Garabedian

CFA, Trading Analytics and Market Structure Analyst; Investment Officer
MFS Investment Management
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Henry Yegerman

Global Head of Sales
LiquidMetrix
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Michael Mollemans

Head of Sales Trading, APAC
Pavilion Global Markets

Optimizing Trade Performance

2:55 PM - 3:40 PM Case Study Interactive: Achieving smarter algo analysis: How can you better select algos and improve your data analysis to enhance workflow performance on your desk?

Miles Huffman, Head of Equity Analytics and TCA, Vanguard
  • How can you implement automated algo processes to optimize systematic trading capabilities?

  • Selecting best in breed: How can you analyze developments in algos to assess their performance and enhance your selection process?

  • How can you evaluate huge volumes of data output from algos to make more sophisticated order route selections?

  • Making smarter trading decisions: How can you use data-driven strategies to capture greater insights from real-time trade information?


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Miles Huffman

Head of Equity Analytics and TCA
Vanguard

Buy Side Only Workshops

2:10 PM - 2:55 PM Synergy Workshop: Active vs passive management: What does the continued growth of passive investment strategies mean for buy side desks, and how can you best exploit the volatile marketplace?

James Hill, Senior Vice President, Head of Equity Trading, Hartford Investment Management Michael Warlan, Head of Global Trading, Third Avenue Management Joseph Bacchi, Head of Multi-Asset Trading and Investment Operations, Acadian Asset Management
  • How is the buy side moving from active to passive investment strategies?

  • Is the increase in passive management a threat for the future longevity of active management?

  • How has the prevalence of passive management pushed trading activity volumes up at market close and what does this mean for the market moving forward?

  • How has the move to passive strategies impacted broker services?

  • Where can active management strategies


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Michael Warlan

Head of Global Trading
Third Avenue Management
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Joseph Bacchi

Head of Multi-Asset Trading and Investment Operations
Acadian Asset Management
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James Hill

Senior Vice President, Head of Equity Trading
Hartford Investment Management

Buy Side Only Workshops

2:55 PM - 3:40 PM Synergy Workshop: High-touch vs high-tech: What are the pros and cons of each trading strategy and how should you structure your team to get the most out of both approaches?

Jason Vedder, Director of Global Trading and Operations, Driehaus Capital Management Joe Sowin, Head of Global Equity Trading, Highland Capital Management, L.P.
  • How can you best measure the results of high touch and low touch trading strategies?

  • Evaluating the one touch trading desk: How will the continued evolution of automation in the marketplace affect the future of high touch trading?

  • How can you incorporate both low and high touch strategies to achieve best execution?

  • Silo’s vs full coverage: How should you structure your team to get the most out of both approaches?

  • How can you integrate technology-led strategies in the best way to source liquidity?

  • Will automation ever fully replace the personalized approach that high touch strategies offer in building trust and relationships across the market?


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Jason Vedder

Director of Global Trading and Operations
Driehaus Capital Management
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Joe Sowin

Head of Global Equity Trading
Highland Capital Management, L.P.

Interactive Boardrooms

2:10 PM - 2:55 PM Boardroom: Refining the technique of trading around the VIX for desk success

  • How can you optimise your trading strategies to be successful in low volatility market environment?
  • What changes do you introduce to trading approach as volatility starts to increase?
  • Exploring the drivers of VIX manipulated derivatives and how you can best incorporate them into your portfolio
  • How can you best trade volatility products to manage risk and increase returns?
  • Exploring volatility themes for the year ahead and how to organise your desk to stay ahead


Interactive Boardrooms

2:55 PM - 3:40 PM Boardroom: What are the benefits of multi asset trading and how can it help to protect your desk against risk and volatility in the market?

Joseph Bacchi, Head of Multi-Asset Trading and Investment Operations, Acadian Asset Management Terry Flynn, Front Office Specialist & Team Lead, SimCorp
  • Getting the formula right: What are the key considerations when formulating a multi asset trading strategy?

  • Increasing your multi asset activity: How can you organize your desk to optimize handling of multi asset investment strategies and boost portfolio performance?

  • Which technologies should you leverage to facilitate multi asset trading and increase exposure to new alpha?

  • What is the future role of machine learning and artificial intelligence in multi asset trading?


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Joseph Bacchi

Head of Multi-Asset Trading and Investment Operations
Acadian Asset Management
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Terry Flynn

Front Office Specialist & Team Lead
SimCorp

3:40 PM - 4:10 PM Afternoon Networking Break: Join us for our exclusive wine tasting session of the finest grapes from around the world

Achieving Best Execution

4:10 PM - 4:55 PM Fireside Chat: The future of research payments with unbundling: How is research now being valued and priced under MiFID II and what does this mean for US buy side firms?

Spencer Mindlin, Senior Analyst, Aite Group
  • What does unbundling mean for your trading desk and search for best execution?

  • How can you set accurate research budgets based on consumption rates and quality evaluation?

  • How can you still get bang for your buck whilst managing shrinking commission budgets?

  • How is the buy side tackling increasing research fees whilst sourcing high quality research? Consuming costs in own P&Ls, paying RPAs or outsourcing to third parties?

  • How can you assess research quality with evaluation programs?

  • Working in with brokers for best practice: How can you effectively separate research payments and execution costs without impacting execution quality?


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Spencer Mindlin

Senior Analyst
Aite Group

Achieving Best Execution

4:55 PM - 5:40 PM Interactive Interview: How can you leverage advances in venue analysis to improve your execution quality in an increasingly fragmented market?

  • How can you leverage advances in venue analysis to improve your execution quality?
  • How can you format your analytics to better consume data from venue analysis?
  • How can you explore data sets in greater detail to minimize future information leakage?
  • What are the recent developments in SOR systems, and how are they helping with venue selection and achieving best execution?
  • How can you use insights from venue analytics to better navigate the fragmented venue landscape?

Optimizing Trade Performance

4:10 PM - 4:55 PM Panel Discussion: What are the latest developments in OMS and EMS and how are they performing on increasingly automated and multi-asset trading desks?

Jay Wolstenholme, Senior Analyst, Securities and Investments Group, Celent Shawn Ailawadhi, Head of Equity Trading Technology, Neuberger Berman Michael Chin, Managing Director, Global Head of Equities, Thomson Reuters Leo Hmelnitsky, Head of Global Equity Trading, Mellon Capital Management
  • What is the current state of OMS and EMS functionalities and do they need to do more?

  • How are OMS and EMS platforms performing under greater market requirements?

  • Optimizing Performance: How can you get the most out of your platforms to meet your trading needs in constantly changing market environments?

  • How are developments in OMS and EMS technology achieving more with less to improve trading desk efficiencies?

  • How far away is a fully integrated OMS and EMS system and what advantages will this combined platform provide?


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Shawn Ailawadhi

Head of Equity Trading Technology
Neuberger Berman
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Jay Wolstenholme

Senior Analyst, Securities and Investments Group
Celent
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Michael Chin

Managing Director, Global Head of Equities
Thomson Reuters
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Leo Hmelnitsky

Head of Global Equity Trading
Mellon Capital Management

Optimizing Trade Performance

4:55 PM - 5:40 PM Case Study Interactive: Increasing your trading edge by applying artificial intelligence analytics to a broader range of information sets

Philippe Burke, Portfolio Manager, Apache Capital Management

  • Alpha from Data: How to raise your trading alpha by broadening your data inputs away from traditional data (including text, images, internet of things, and model-generated inputs)
  • Alpha from Analytics: How to raise your trading alpha by adding machine learning techniques to traditional analytic tools
  • Machine vs Humans: Examining which parts of the trading process is more likely to be boosted with artificial intelligence, and what should be left to the human touch?
  • Looking ahead: Exlporing new trends, risks, and opportunities in the next 2-3 years


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Philippe Burke

Portfolio Manager
Apache Capital Management

Buy Side Only Workshops

4:10 PM - 4:55 PM Synergy Workshop: How can you remove internal silos to increase information sharing between traders and portfolio managers and ensure trading decisions are aligned with the investment strategy to maximize profitability?

Dave Lauer, Chair, Healthy Markets Association Christopher Fiorito, Director of Trading, River Road Asset Management
  • What is the best way to encourage information sharing between your PM and trading desk?

  • How can you improve PM and trader relations to create new opportunities for alpha discovery?

  • How can you create a strategy to enable your PM and trading team to succeed in a scarcely liquid market?

  • How can you use alpha modelling to generate greater insights that allow for smarter trade execution for your PM?

  • How can you erase internal silo's to create a more agile workflow between PM’s and trader’s?


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Christopher Fiorito

Director of Trading
River Road Asset Management
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Dave Lauer

Chair
Healthy Markets Association

Buy Side Only Workshops

4:55 PM - 5:40 PM Insitutional Investor Think Tank: Exploring the opportunities provided by the equity market for investor portfolios: What are the key challenges surrounding the equities market and how do you best navigate these to achieve optimum results?

Tereck Fares, Director of Equity Trading, Chicago Equity Partners

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Tereck Fares

Director of Equity Trading
Chicago Equity Partners

Interactive Boardrooms

4:10 PM - 5:40 PM Exclusive Invite Only Buy Side Think-Tank Followed by Drinks Reception

Open to 15 Global Heads of Trading from the top asset managers. Join this interactive session, air your own hot topics and together brainstorm ways you can better collaborate to drive forward buy side objectives.

Followed by KCG de-brief and cocktail reception at Nobu


5:40 PM - 5:45 PM 5 minute Transition to Main Room

Adopting New Innovations

5:45 PM - 6:15 PM Inspirational Guest Speaker: Applying ‘The Big Short’ to today’s market: How out of the box thinking can drive your equity trading performance

Steve Eisman, The inspiration behind ‘The Big Short’ , Managing Director, Portfolio M, Neuberger Berman (Eisman group)


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Steve Eisman

The inspiration behind ‘The Big Short’ , Managing Director, Portfolio M
Neuberger Berman (Eisman group)

Special Guest Speaker

6:15 PM - 6:20 PM Chairperson’s Closing Remarks

6:20 PM - 8:19 PM Networking Drinks Reception