Equities Leaders Summit USA Main Day 1- 12/06/2018
7:30 am - 8:25 am
Registration & Networking Breakfast
8:25 am - 8:30 am
Welcome Address: Lucy Bradley, Editorial Director, Worldwide Business Research
8:30 am - 8:35 am
Chairperson’s Opening Remarks: Dave Weisberger, Head of Crypto, ViableMKTS
Dave Weisberger -
Head of Crypto,
ViableMKTS
8:35 am - 8:55 am
Buy Side Keynote Interview: What are the top trends shaping the future of the equity trading landscape and how are global heads of trading adapting their people, processes, and technology to stay ahead of this new market order?
Clive Williams -
Head of Global Equity Trading,
T.Rowe Price
Vlad Khandros -
Global Head of Market Structure and Liquidity Strategy,
UBS
Ø What does the new liquidity regime look like and what strategies can the buy side implement to gain access to greater liquidity pools?
Ø What key market developments are disrupting the equity landscape and how are they impacting buy side engagement across the entire market chain?
Ø What key factors have contributed towards the recent step change in volatility across the market and how can you best adapt to this?
Ø Cross-border implications of MiFID II: How has the European regulation affected liquidity and buy side best execution policies in US equity markets?
Ø How can the buy side best integrate the latest trading technologies to transform global desk performance whilst adhering to regulations
8:55 am - 9:20 am
Keynote Interview: Embracing automation whilst retaining the human touch: An insight on how the sell side are reinventing their business models to thrive in an increasingly high volume and low touch eTrading landscape
Frank Loughlin -
Global Co-Head of Equity Trading,
Alliance Bernstein
Jennifer Hadiaris -
Managing Director, Head of Global Market Structure,
Cowen
Ø How are the developments of central risk books enabling the sell side to better meet liquidity requirements for the buy side?
Ø Servicing the demand for blocks: How can the buy side best engage with central risk books to uncover greater block liquidity in the market?
Ø What steps are the sell side taking to ensure their sell side traders collaborate with machines to better navigate the complex market and increase performance rates?
Ø How are the sell side introducing new initiatives to increase collaboration and maintain trust with the buy side?
Jennifer Hadiaris
Managing Director, Head of Global Market StructureCowen
9:20 am - 9:45 am
Inspirational Case Study: Revolutionising the trading landscape with machine learning: How we leveraged machine learning to make more accurate investment forecasts and better execute dynamic order routing to increase profitability
Jon Glennie -
Global Head of Trading Technology,
JP Morgan Asset Management
David Firmin -
MD, Global Head of Trading Research,
Instinet
Ø How can you best address the real world challenges of implementing machine learning based trading strategies and where does this best fit across the trading spectrum?
Ø How can you identify where to benefit from automation whilst remaining compliant?
Ø What are the regulatory considerations when introducing automated processes on the trade desk and how can you identify where to best implement these?
Ø How can you automate daily front office activities to enable traders to focus on real value-add and increase desk performance?
Ø How can you reap the benefits of integrating alternative data feeds to keep your desk ahead of the curve?
9:45 am - 10:00 am
Spotlight on Innovation: All change in the vendor landscape – where to next, and why it matters to you?
Steve Grob -
Director of Group Strategy,
Fidessa
2018 has been a year of significant change in the vendor space with the sale of Thomson Reuters to Blackstone Group, SS&C's acquisition of Eze Software,State Street's takeover of Charles River Development and ION's purchase of Fidessa. Steve Grob examines the key drivers behind these deals, what this means for their respective customers and what trends we're likely to see emerge in 2019.
10:00 am - 10:40 am
Morning Networking Break
10:40 am - 11:00 am
Fire Side Chat: Exploring equities market structure initiatives in 2019 and beyond: How are new regulations evolving the US equities market and how can you position yourself to benefit from new initiatives
John Roeser -
Associate Director, Office of Market Supervision, Division of Trading and Markets,
U.S. Securities and Exchange Commission (SEC)
Dave Weisberger -
Head of Crypto,
ViableMKTS
11:00 am - 11:45 am
Panel Discussion: Which initiatives should you prioritize and how will the pending transaction fee pilot impact market transparency and best execution in NMS stocks?
Michael Warlan -
Head of Global Trading,
Third Avenue Management
Ryan Larson -
Head of Equity Trading U.S,
RBC Global Asset Management
Justin Schack -
Partner, Head of Market Structure,
Rosenblatt Securities
Ari Burstein -
President,
Capital Markets Strategies
Ø How is the current US equities regulatory landscape driving access to liquidity and how can you best adapt to thrive in this new environment?
Ø Increasing maker-taker fee and rebate transparency: What changes could the results of the transaction fee pilot have and how would this impact order routing behavior and execution quality in the market?
Ø How would changes to broker fees effect buy side trading strategies and could it impact end client portfolio's and return rates?
Ø MiFID II 12 months in: What impact has the implementation of MiFID II had on the US equity landscape and what are the practicalities for best practice amongst US buy side firms?
11:45 am - 12:15 pm
Panel Debate: Alternative trading systems vs. exchanges- Which model is best placed to help you overcome stock execution challenges?
Mehmet Kinak -
Global Head of Systematic Trading and Market Structure,
T. Rowe Price
Tereck Fares, CFA -
CFA,
Chicago Equity Partners
Roman Ginis -
Founder & CEO,
Imperative Execution, Founder of IntelligentCross
Ari Burstein -
President,
Capital Markets Strategies
Eden Simmer -
Global Head of Equity Trading,
PIMCO
How are the latest venues impacting market structure and liquidity levels across the market- Do they provide a better alternative to exchanges?
Ø Has MiFID II acted as an enabler to alternative trading systems or do exchanges represent the best method of execution in a post MiFID II environment?
Ø What are the current challenges in sourcing liquidity in dark vs lit markets for small and mid-cap stocks?
Ø What are the most prevalent changes in the market and how can the buy side best interact with new players to access the latest offerings?
Ø What are the advantages and disadvantages of dark pool offerings and how can you benefit from dark pool liquidity?
12:15 pm - 12:45 pm
In Conversation: Navigating increased venue proliferation: Who is best placed to help you take advantage of natural block liquidity in a way that checks the boxes of trust, ease of access, and minimal market impact?
Tim Mahoney -
CEO,
BIDS Trading
Brian Williamson -
Head of Sales,
Luminex Trading and Analytics
Dave Weisberger -
Head of Crypto,
ViableMKTS
Enrico Cacciatore -
Head of Market Structure and Trading Analytics,
Voya Investment Management
Ø What are the latest block solutions on the market and how are they ensuring best execution of block orders in lit markets and dark pools?
Ø How can you best source block liquidity across the fragmented equities landscape?
Ø How are the sell side building out their block functionalities as buy side firms continue to increase their block order volumes?
Ø How can you best structure your desk to reap the benefits of block trading and effectively measure block performance?
12:45 pm - 1:05 pm
Keynote Case Study: Evaluating the ETF ecosystem: What are the latest products and regulations and what is their wider impact on traditional asset management?
Joe Mahoney -
Institutional Sales & Trading,
Jane Street
Ø What are the challenges associated with trading ETFs and how can you optimize their performance within your portfolio?
Ø To what extent has ETF liquidity grown and what are the contributing factors?
Ø How can you best evaluate the full ETF ecosystem to understand who is best placed to help you tap into the opportunities they have to offer?
Ø How are market makers and banks facilitating the electronification of ETF products and bringing them to market?
Ø Executing ETFs on the desk: What are the ETF tool-kit requirements to maximize trade performance?
1:05 pm - 2:30 pm
Lunch and Networking Break
1:05 pm - 2:30 pm
Invitation Only Private Buy Side Only Lunch Boardroom: Hosted by Bloomberg
Exploiting New Trading Strategies Chair: Invited: Tyler Gellasch, Executive Director, Healthy Markets Association
2:30 pm - 3:10 pm - Panel Discussion: Lessons learned from Europe post MiFID II: How has this impacted the US equities market and how does this impact your working relationship with EU and US clients? Jason Vedder - Director of Global Trading and Operations, Driehaus Capital Management Lori Hoch - COO, Cortina Asset Management Rosanna Bruni - Senior Director, Trading, PSP Investments Tyler Gellasch - Executive Director, Healthy Markets AssociationØ Evaluating the broker relationship: How have US broker dealers changed their research business models post MiFID II?
Ø How is the brokerage community adapting to smaller commission pools and differing processes for US vs EU clients?
Ø Managing research and trading budgets in an unbundled world: How can you adapt your strategy in line with greater transparency of commission and research costs?
Ø How can you track and evaluate research quality and what is the comparison between buy side that are paying for their own research vs those that aren’t?
Ø What is the true impact of rising market data costs for the buy side and service providers?
Exploiting New Trading Strategies Chair: Invited: Tyler Gellasch, Executive Director, Healthy Markets Association
3:10 pm - 3:50 pm Interactive Interview: Exploring best practice in the global trading business: How can you keep your business agile amongst the changing EU and US regulatory landscapes? Tyler Gellasch - Executive Director, Healthy Markets Association Mehmet Kinak - Global Head of Systematic Trading and Market Structure, T. Rowe PriceØ What is the best approach to commission management in today’s market and how can you re-think your commission wallet in a new world order?
Ø What is the regulatory impact on accessing liquidity and how can you utilize different execution options, from batch auctions to broker crossing networks to exchanges to block platforms?
Ø How are firms identifying and fulfilling best execution obligations and best practices in a post-MiFID II world, both in the US and overseas?
Ø What should you expect from trading decision making and support tools under MiFID II especially on multi-asset desks?
Embracing Cutting-Edge Technology
2:30 pm - 3:10 pm Exploring next generation TCA: How can you leverage real-time TCA to increase pre, intra and post trade transparency? Michael Clements - Chief Trader, Employees Retirement System of Texas Stino Milito - Co-Chief Operating Officer, Dash Financial Technologies Geoff Bernard - AVP, Equity Trading, OppenheimerFunds Michael Mollemans - Head of Sales Trading, APAC, Pavilion Global Markets Henry Yegerman - Global Head of Sales, LiquidMetrixØ How are next generation TCA tools enabling buy side firms to remain compliant under MiFID II reporting requirements?
Ø Pre and mid trade focus: How can advanced TCA tools enable 'on the fly analysis' and allow traders to adapt trading strategies before and during the trade?
Ø How are increasing TCA efficiencies enabling buy side firms to optimize order routing across the fragmented market?
Ø How can you implement new and alternative data sources into your TCA to increase accuracy of pre and post trade analysis?
Ø How are TCA providers producing reports that are easier for buy side traders to consume?
Michael Clements
Chief TraderEmployees Retirement System of Texas
Embracing Cutting-Edge Technology
3:10 pm - 3:50 pm Panel Discussion: How is technology shaping the future of capital markets and how can you best leverage trading desk technology to efficiently manage front office workflow and build the optimal trading hub? Joseph Bacchi - Head of Multi-Asset Trading and Investment Operations, Acadian Asset Management Spencer Mindlin - Senior Analyst, Aite Group Carrie Freeborough - VP, Head Trader, Mackenzie InvestmentsØ How can you best structure and resource an increasingly multi-asset desk for optimal performance?
Ø How can you develop a cross-asset trading strategy to set your desk up for success and achieve best execution for every trade?
Ø How are developments in desk technology enabling greater access to liquidity for multi-asset trading?
Ø Monitoring multiple asset classes: What technologies are enabling buy side traders to make meaningful links across asset classes and make more informed trading decisions?
Ø How does the trader skill set need to evolve with the continued trend towards increasingly systematic trading?
Joseph Bacchi
Head of Multi-Asset Trading and Investment OperationsAcadian Asset Management
Implementing Next-Gen Algo’s Buy Side Workshop
2:30 pm - 3:10 pm Gaining the competitive edge with automated trading: How can you better select, scale and optimize your algo wheel to boost best execution on your desk? Jason Siegendorf - Head of Trading Analytics,, Harris Associates Rob Dynan - Global Head of Equity Trading Technology, Wellington Management Rob Hegarty - Managing Partner, Hegarty Group Kaveh Taghavi - Quantitative Research Analyst, VanguardØ What are the latest developments in algo wheel offerings and how are they enabling the demonstration of best execution in systematic trading?
Ø How are algo wheels helping to better inform trader decision making when evaluating market microstructure?
Ø How can you effectively work with the related data correctly to ensure biases are removed from your algo wheel?
Ø How can you most efficiently and accurately interpret output generated from algo wheels?
Ø How can you determine which broker algo wheel offering is the best fit for your business model?
Implementing Next-Gen Algo’s Buy Side Workshop
3:10 pm - 3:50 pm Synergy Workshop: Are you missing the biggest blocks of the day? Jatin Suryawanshi - Head of Global Quantitative Strategy, JefferiesØ Exploring the continuing evolution of dark liquidity as both new dark and midpoint grey pools launch: How to measure the efficacy of adding more venues
Ø Exploring the consistent growth of electronic and conditional blocks: How can you access multiple blotter scraper technologies and protect against negative selection in block trades?
Ø Tackling the Closing Auction: the mother of all blocks: Why has the closing auction in the US grown so rapidly and how does it compare to the global markets?
- How is this change increasing the depth of book in the final minutes so drastically?
- What new order types and rules are the exchanges offering to provide more flexibility
Buy Side Only Boardroom *Open to max 20 attendees*
2:30 pm - 3:10 pm Interactive Boardroom: Defining the requirements for a modern-day trading desk: How can you boost best practice across the desk to build a next generation trading team? Michael Warlan - Head of Global Trading, Third Avenue Management Christopher Fiorito - Director of Trading, River Road Asset Management Mark Zahara - Senior Vice President, Head Trader, HeitmanØ How can you increase your desk talent with cross-asset training?
Ø How can you bring together best practice for optimal performance in high touch markets?
Ø How can you embrace diversity and inclusion to turn this into a competitive advantage?
Ø Combining technological know-how, trading and risk management skills- What makes a modern-day trader?
Ø How can you erase internal silos to increase PM and trader collaboration and increase returns in a scarcely liquid market?
Ø What new job functions need to be introduced to keep the buy side desk up to speed with the changing pace of the equities market?
3:50 pm - 4:20 pm
Afternoon Networking Break
3:50 pm - 4:20 pm
Exclusive Invite Only Head Trader Think-Tank
Kenneth Martin -
Head Trader,
Fidelity-Contributor, Head Trader Think Tank
Join this interactive session, air your own industry concerns and together, brainstorm ways forward in collaboration with your peers.
This session is invite only and will run under Chatham House Rule.
*Open to a maximum of 20 Head’s of Trading
Kenneth Martin
Head TraderFidelity-Contributor, Head Trader Think Tank
Embracing Cutting-Edge Technology Chair: Spencer Mindlin, Senior Analyst, Aite Group
4:20 pm - 4:50 pm - Panel Discussion: Staying on top of the OMS-EMS evolution: How can you leverage the latest developments to achieve a more efficient workflow? Spencer Mindlin - Senior Analyst, Aite Group Chris Hollands - Head of European and North American Sales and Account Management, TS Ian Mawdsley - Head of Buy Side Trading EMEA & APAC, RefinitivØ How are OMS and EMS technologies fueling more informed decision making pre- and intra- trade?
Ø How are the newest updates in OMS and EMS systems enabling the capture of live data streams to help alert traders in real time?
Ø How are developments in O/EMS technologies enabling traders to efficiently manage order workflow with less?
Ø How are the latest O/EMS updates set-up to better support cross-asset trading strategies and how are they helping to minimize risk?
Ø How efficient are current combined O/EMS systems and where is there room for improvement?
Embracing Cutting-Edge Technology Chair: Spencer Mindlin, Senior Analyst, Aite Group
4:50 pm - 5:30 pm What are the latest developments in algorithmic trading and how can you adopt customized algo’s into your trading processes to revolutionize workflow efficiencies and catapult desk performance? Curtis Pfeiffer - Chief Business Officer, Pragma Trading Rob Hegarty - Managing Partner, Hegarty Group Matthew Celebuski - CEO, Trade Informatics Adrian Bialonczyk - Managing Director, Algo DepthØ How can you best evaluate the latest algo offerings to better select providers that fit your business model?
Ø Succeeding in systematic trading: How can you introduce next generation algo's into your trading strategy to remove human bias from the trading process?
Ø How can you integrate customized algo's into your trading strategy to effectively measure and minimize information leakage?
Ø How can you best work with dark algos to increase access to both natural and dark pool liquidity?
Adrian Bialonczyk
Managing DirectorAlgo Depth
Leveraging Data To Gain The Information Edge Buy Side Workshops
4:20 pm - 4:50 pm Adopting a data-driven approach to trading: How can you adopt AI in-house to streamline operational efficiencies with automation on your desk? Jon Glennie - Global Head of Trading Technology, JP Morgan Asset Management Bojan Petrovich - CFA, Quantitative Trading Strategy, J.P.Morgan Asset ManagementØ How can you use AI to automate daily trading tasks whilst remaining compliant under current market regulations?
Ø Removing trade bias with automation: How can AI help to execute orders in a more accurate way, from investment idea to order placement in the market?
Ø How is the line between fundamental and quantitative investment strategies blurring as traditional managers adopt increasingly analytics-led trading processes?
Ø What applications can you introduce to the desk to help traders to consume results produced by advanced analytics in low touch trades?
Ø What skill-sets are essential in modern-day equity markets so human traders can still add value as trade desks become increasingly automated?
Bojan Petrovich
CFA, Quantitative Trading StrategyJ.P.Morgan Asset Management
Creative Boardroom
4:20 pm - 5:30 pm Women on Wall Street Think Tank: How can the equity trading industry better attract, develop and retain top female talent? Jennifer Litwin - Senior Vice President, Head of Relationship Management, Greenwich Associates Gayle Wageman - Global Head of Trading, Principal Global Investors Carrie Freeborough - VP, Head Trader, Mackenzie InvestmentsØ Extend your professional network amongst the next generation of leading women and trading professionals
Ø Understand how you can promote diversity and inclusion in your organization
Ø Learn from, and be inspired by, some of the industry’s most influential women leaders
