Monday, October 06, 2008

7:45 AM - 8:30 AM

Registration & Breakfast

8:30 AM - 8:45 AM

Welcome by Chairman

James T. Leman

Head of Capital Markets and Principal

WESTWATER CORP.

8:45 AM - 9:15 AM

Keynote: The Cost of Being Late: Liquidity, Latency and Lots Of Choices

As firms struggle to satisfy best execution requirements, meet changing regulatory needs and still stay afloat, every decision needs to withstand ever increasing scrutiny. Technology, liquidity and latency, operational performance and risk management are all intertwined and the interdependencies can be confusing. In this session, Raj Mahajan will detail and discuss how many of the leading market participants - buy-side, sell-side, exchanges and the like - are making strategic decisions that yield positive results. Attendees will gain insights not only from Mr. Mahajan's observations, but also through viewpoints of key market players that will be highlighted during the event.

Raj Mahajan

President, Trading

SunGard

9:15 AM - 10:00 AM

Panel - Treasury's Proposed Regulatory Overhaul - Implications for Technology

Once again technology has the opportunity to move from behind the scenes to front and center. Investors, markets and the brokerage industry have changed dramatically over the past years and with it the risks that are incurred.

What changes are needed to foster the evolution of markets? What is the most effective way to regulate and at the same time not threaten global competitiveness? What are the most crucial parts to consider and at whose expense does it come? What proposals are gaining traction and what challenges are today's IT professionals up against?

Moderator:

Brad Bailey

Director

Knight Capital

Panelists:

Robert L.D. Colby

Deputy Director, Division of Trading and Markets

U.S. SECURITIES AND EXCHANGE COMMISSION

Barnett P. Margolis

Senior Vice President, Director of IT Audit & Sarbanes-Oxley IT Compliance

Jefferies and Company, Inc.

Jeffrey Plotkin

Partner

DAY PITNEY LLP

Grace B. Vogel

Executive Vice President, Member Regulation

FINRA

10:00 AM - 10:15 AM

Time for Q&A

10:15 AM - 10:45 AM

Break

10:45 AM - 11:30 AM

RISK: Measurement and Management for the 21st Century

It is no surprise that risk management is top of mind with more than a quarter billion written off in the past year and with a substantial percentage of operational risk mistakes caused by valuation problems. It is here, at the operational level that the most significant challenges will be faced over the coming years. What key technologies will form a firm's risk platform? What information is needed to access risk across a firm's environment? What are the opportunities in the foreseeable future?

Moderator:

Ross Hamilton

Director, Client Engagement

Lab49, Inc.

Panelists:

Donna Howe

Managing Director, Senior Hedge Fund Risk Manager

UBS

Joseph Iraci

SVP, Risk Management

FIDELITY INVESTMENTS

Dr. Cindy Ma

Managing Director, Financial Opinions & Advisory Services

Houlihan Lokey

11:30 AM - 12:15 PM

OTC Derivatives Automation for Operational Efficiency - Can We Get There?

OTC derivatives are a significant operational challenge to buy and sell-side alike. There is criticism that the buy-side has been passive in finding a solution to the industry problem. This panel will examine the buy-side approach to addressing the issues, where progress is furthest along, and what expectations exist for the near-term.

Moderator:

Denise Valentine

Senior Analyst

AITE GROUP

Panelists:

Doug Bremer

Front Office, Quant & Derivative Strategies

EVERGREEN INVESTMENTS

William Gates

Senior Vice President

SmartStream Technologies Inc

Robert Kolpin

Director

DTCC Deriv/SERV

Kurt Regush

Global Derivatives Operations

GOLDMAN SACHS

12:15 PM - 1:30 PM

Lunch

Sponsored by:

1:30 PM - 2:15 PM

Buy side panel: Hot New Technologies - Going for the ideal without diluting the operational Benefit

• Cross Asset OMS - Will we get there?
• How to optimize your trading tools to enhance investment performance
• OMS or EMS or both; do I use more than one?

Moderator:

Michael Schwartz

Chief Operating Officer, Global Trading

ALLIANCE BERNSTEIN

Panelists:

Robert Iati

Partner

Tabb Group

Prakash Neelakantan

Vice President of Financial Services

Headstrong

Harrell Smith

Head of Product Strategy

PORTWARE

Tom Whelan

Head of North American Product Sales

Instinet Corporation

2:15 PM - 3:00 PM

Sell side panel: Emerging Technologies to Secure your Enterprise

Monetary damage, corporate liability, and credibility are all at stake in the area of IT security.
A balance needs to be found between a firms risk exposure and the opportunity to mitigate the risk through security controls. Even the best technology today is not fool-proof but with all eyes on risk some very exciting new technology is emerging. This session will take a look at just a few of the options out there.

Moderator:

Keith White

Vice President of Information Technology Risk

CREDIT SUISSE

Panelists:

Ravi Manchi

Principal

WESTWATER CORPORATION

Gijo Mathew

Vice President of Solutions

Orchestria

Additional panelists to be announced

3:00 PM - 3:15 PM

Additional time for Q&A

3:15 PM - 3:45 PM

Break

Sponsored by:

3:45 PM - 4:15 PM

Case Study: Incorporating Transaction Cost Analysis into the Trading Process

This session will cover compliance, pre-trade risk mgmt, post-trade confirmation and analytics, post-trade account mgmt.

Mike Caffi

Manager, Global TCA Services, Global Trading and Implementation

STATE STREET GLOBAL ADVISORS

4:15 PM - 4:25 PM

Q&A

Mike Caffi

Manager, Global TCA Services, Global Trading and Implementation

STATE STREET GLOBAL ADVISORS

4:30 PM - 6:00 PM

Reception

Tuesday, October 07, 2008

7:45 AM - 8:20 AM

Breakfast

Sponsored by:

8:20 AM - 8:30 AM

Chair's Recap

James T. Leman

Principal and Head of Capital Markets

WESTWATER CORP.

8:30 AM - 9:00 AM

Keynote: The Coming Consolidation in Global Trading Venues: Is Your Firm Prepared?

Across all asset classes and geographies, electronic trading, regulation, and the quest for survival have all set off a race to become the liquidity provider of choice among exchanges, ECNs, ATSs, dark pools and various other players to be named later. Choosing the right venues to trade with has become tantamount to spreading your bets around the roulette table in the hopes of eventually hitting it big with the right venue&.only the stakes are much higher. In this keynote session, well kick off Day Two by dissecting the current environment, naming the players, and predicting the winning and losing models in this high stakes game for execution superiority.

Robert Hegarty

Managing Director, Securities & Investments and Insurance

TOWERGROUP

9:00 AM - 9:45 AM

Operational Impact - Evaluating Best Execution for Competitive Advantage

• In pursuing best execution how will brokers assure users that their systems are not only provided a variety of liquidity options but that the infrastructure they rest on can deliver consistent technology performance as transaction load and market volatility occur?
• How dynamic are brokers systems in detecting latency or even minimal decaying performance and how quickly will action of some nature engage?
• While order type, strategy, algorithm and destination selection choices affect performance significantly how will application, network and platform performance, to mention a few, contribute to the best execution goal.
• How will brokers and in turn their buy side clients balance the costs of achieving best execution performance while balancing the costs associated with pursuing that performance for difference classes of transactions?

Moderator:

James T. Leman

Head of Capital Markets and Principal

WESTWATER CORP.

Panelists:

Rishi Nangalia

Managing Director

GOLDMAN SACHS ELECTRONIC TRADING

Justin Schack

Vice President, Market Structure Analysis

ROSENBLATT SECURITIES INC.

Robert A. Schwartz

Marvin M. Speiser Professor of Finance,University Distinguished Professor

Zicklin School of Business, BARUCH COLLEGE

9:45 AM - 10:30 AM

Panel: Insight from the Exchanges - Adapting to a Global, Multi-Asset Marketplace

The securities industry - especially the trade execution business writ large - is being transformed globally by a myriad of highly-interrelated factors, including technology, regulation, and the growth of electronic trading. More than ever before, and increasingly so, the distinctions between players such as broker-dealers and exchanges are blurred; which has led to a hyper-competitive environment among execution mechanisms/venues. This panel of senior executives will discuss how their organizations are facing these issues, and what they are doing to better meet customer demands.

Moderator:

Joseph Rosen

President

RKA Inc.

Panelists:

Thomas Ascher

Chief Strategy Officer

ISE, LLC.

Gerald T. O'Connell

Executive Vice President and Chief Information Officer

CBOE

Peter Robin

Senior Director

CISCO SYSTEMS, INC.

Eric Swanson

Senior Vice President, General Counsel

BATS TRADING

10:30 AM - 10:45 AM

Refreshment Break

10:45 AM - 11:15 AM

Lifeguarding the Dark Pools

Dark pools are increasing in volume and market share which means they are being entrusted with more and more market moving secrets. What are dark pool operators doing to ensure the safety of their pools as their success makes them more attractive to gamers?

• What is the role of technology such as complex event software?
• Is it still necessary to have robust human surveillance, or have things gotten too sophisticated for that?
• How does a global presence complicate security?
• Will there ever be a uniform security standard that all dark pools will have to comply with?

Kevin Lupowitz

Chief Information Officer

Liquidnet

11:15 AM - 12:00 PM

Avoiding Enforcement Action - AML Exams Update

Broker dealers facing an examination of their AML regime not only have to be concerned about potential sanctions, but the damage to their reputations that can result from a bad review. What are the regulators looking for? What are the most common deficiencies found during exams? How can firms identify problems before the regulators do? Are past enforcement actions an indication of future trends? What is the best approach for training staff? These and other issues will be examined to provide actionable solutions that can help prepare the regulated to meet their regulators.

Moderator:

John Sandman

Standards Editor

SECURITIES INDUSTRY NEWS

Panelists:

Karen Buck Burgess

Senior Advisor, Office of Compliance Inspections and Examinations

U.S. SECURITIES AND EXCHANGE COMMISSION

Allen G. Love

Vice President, Office of Corporate and Regulatory Compliance

The Depository Trust Clearing Corporation

Alistair E. Johnson

Senior Regulatory Specialist

FINRA - Examinations Program Group

Rick Nummi

Executive Consultant

NRS Broker-Dealer Services

12:00 PM

Conference Concludes