TradeTech DACH – Agenda

BY INVITATION ONLY: Exclusive buy side Heads of Tradin...Registration and Morning Coffee 8:00 BY INVITATION ONLY: Exclusive buy side Heads of Trading only breakfast and roundtable discussion The alternative platform to discuss issues important to buy side Heads of Trading to gain an insight into the market picture The core objective of this lively and open roundtable discussion is to provide an opportunity for buy side Heads of Trading for in-depth face-to-face discussion of the most pressing trading and market structure related issues. TradeTech is running this closed-door by invitation only roundtable discussion to give TradeTech DACH’s key buy side supporters the occasion to discuss, share opinions, ideas and thoughts in order to thrive amid shaky market conditions.   Features and planning: Exclusive ‘invitation only’ for 10 DACH buy side Heads of Trading at leading asset and investment management and hedge fund firms Collaborate, share best practice and dissect current challenges facing the DACH buy side No formal presentations – simply a closed-door, well moderated discussion enabling open dialogue without boundaries 8:00 Registration and Morning Coffee Registration and Morning Coffee

8:45 Buy Side Key Note Mike Bellaro, Head of Trading Desk & Middle Office, Deutsche Asset Management (DeAM) Assessing the impact of low liquidity, high volatility and market fragmentation on your trading operations in terms of trading strategies, trading processes, available data and technologies to reduce the impact on your trading costs and to ensure Alpha protection Evaluating the various platforms available to the buy side –what functionality do you really need on your trading desk? Does the best technology win the battle? What do you need from your broker? Has the role of a broker changed to a pure technology provider? Evaluating the “human factor” on your trading desk and the future of the BS trading desk to force next steps in automation Ensuring you have the right broker mix to deliver the liquidity you need and identifying the necessary categories/types of brokers to achieve this diversity of service offerings and skills. How do you perform broker performance evaluation and setting up of broker lists? Implementing new models for difficult block trades and algo trading to ensure successfully processes for the most difficult trades (i.e. big trades in less liquid markets) in today’s landscape Analysing the value of dark trading for your desk and choosing the best alternatives from MTF type dark pools compared to Broker Crossing Networks. Getting clarity on how MTF dark pools differ from BCNs in terms of execution likelihood, trust, gaming issues and cost Uncovering the impact of evolving multi asset trading and convergence to ensure optimised efficiency Mike Bellaro Head of Trading Desk & Middle Office, Deutsche Asset Management (DeAM) Michael Bellaro was recently names Head of Equity, Derivative and Passive FX Trading at Deutsche Asset Management (DeAM). In his role, he will be responsible for overseeing our primary investment hub in Frankfurt, Germany, that executes trades in global equity, derivatives, and passive foreign exchange for all business lines. Michael Bellaro began his securities career in the over the counter depa [read more]

9:15 Panel: Multi Asset Trading: Adjusting your trading strategy in turbulent times to gain new opportunities and to balance efficiently your resources. Finding the right liquidity in a multi asset world: across trading regions, traders and asset classes Mike Bellaro, Head of Trading Desk & Middle Office, Deutsche Asset Management (DeAM) Raymond M. Tierney, Chief Executive Officer and President, Bloomberg Tradebook Martin Henning, Head of Trading, BNY Mellon Service KAG Michael Krogmann, Executive Vice President, Deutsche Börse Evaluating the need of multi asset algos to easily proceed the rebalancing of an multi asset portfolio, to control correlations between the different classes and to show up your current net exposures out of a rebalancing for intraday hedging purposes Developing the best combinations and the necessary interfaces between the different platforms or building/buying a “single multi platform” to overcome technology challenges on a multi asset approach. Are there one-platform-solutions in the market for trading multi assets? Integrating FI and FX further into the electronic platforms and building more pressure up to only a few CCPs Reorganising your trading desk structure, assessing the new skill set and creating synergies in the trading team and the technology to balance temporary shifts on single asset classes’ volatility Integrating the sell side further into the MAT process chain to get the required core services and aligning sell side systems with the requirements for MAT Overcoming successfully lower transaction costs and trade impacts by running a holistic MAT strategy to raise your investment returns Mike Bellaro Head of Trading Desk & Middle Office, Deutsche Asset Management (DeAM) Michael Bellaro was recently names Head of Equity, Derivative and Passive FX Trading at Deutsche Asset Management (DeAM). In his role, he will be responsible for overseeing our primary investment hub in Frankfurt, Germany, that executes trades in global equity, derivatives, and passive foreign exchange for all business lines. Michael Bellaro began his securities career in the over the counter depa [read more] Raymond M. Tierney Chief Executive Officer and President, Bloomberg Tradebook Raymond M. Tierney III is the chief executive officer and president of Bloomberg Tradebook LLC, an electronic agency broker for institutional traders, broker-dealers, hedge fund managers, plan sponsors, market makers, and portfolio managers worldwide. Prior to joining Bloomberg, Mr. Tierney was at Morgan Stanley for 16 years, starting in 1994 as an executive director and senior sales trader, elect [read more] Martin Henning Head of Trading, BNY Mellon Service KAG Michael Krogmann Executive Vice President, Deutsche Börse Michael Krogmann is an Executive Vice President for Xetra Market Development - Institutional Equity at Deutsche Börse AG. He is responsible for Sales and Business Development as well as Design and Functionality for the electronic trading system Xetra®. Currently some 230 European banks and broker firms from 20 countries use the Xetra system. Over 1,000 ETFs, 400 ETCs and ETNs, 10, [read more]

10.00 Pinpointing best liquidity across a continuously evolving market structure and defining the role of speed for your business Andrew Morgan, Co-Head Equity Trading EMEA, Deutsche Bank AG Building state-of-the-art processes to offer to the buy side an easy and low-cost one-stop- access to the whole market Assessing the tools that the right broker offer to pinpoint liquidity, when you want it, at the right price: Next steps in algo execution, Smart Order Routing, Internal crossing networks and dark pools Ensuring you are getting best execution with your broker to comply and to fulfi l investors’ requirements Achieving that your broker can deliver on full transparency of your order Analysing the opportunities and challenges of speed and how you can benefi t from your broker Andrew Morgan Co-Head Equity Trading EMEA, Deutsche Bank AG Andrew Morgan is Co-Head Equity Trading EMEA. Andrew joined Deutsche Bank in 2004 from the Equities Division of Goldman Sachs where he worked for 6 years. He began his career at PWC and is an ACA.

10.30 Refreshments and networking break Your perfect opportunity to discuss business and meeting new contacts while enjoying refreshments

11.00 Accessing best practice in electronic trading Fixed Income and balancing high touch vs. low touch trades Erik Tham, Head of Buy Side Fixed Income Execution Desk, UBS Wealth Management Analysing electronic FI-trading initiatives and trends, balancing BS-BS trade, centralised structures and new platform solutions Implementing new functionalities to deal with Increasing number of transactions, trader bandwidth and operational cost per transaction Trading across diverse asset classes and integrating Fixed Income Finding the right price in times of dry markets Erik Tham Head of Buy Side Fixed Income Execution Desk, UBS Wealth Management Erik Tham is heading the algorithmic order execution team at the Fixed Income execution / buy-side trading desk of UBS Wealth Management, one of Europe’s leading buy-side houses for Fixed Income securities. Erik joined UBS in 2005 and has since then been working in Fixed Income on different positions for both the UBS Investment Bank and UBS Wealth Management. He's been with the execution / buy-sid [read more]

11:30 Between Laisser-faire and over-regulation: How much regulation do capital markets need? Martin Reck, Managing Director, Deutsche Börse Between Laisser-faire and over-regulation: How much regulation do capital markets need? Martin Reck Managing Director, Deutsche Börse Martin Reck is the Managing Director at Deutsche Börse AG responsible for the Cash Market Structure and the electronic trading system Xetra®. Currently some 230 European banks and broker firms from 20 countries use the Xetra system. Over 1,000 ETFs, 400 ETCs and ETNs, 10,000 equities from 70 countries, 26,000 corporate and government bonds and 1 million structured products are tra [read more]

12:00 Panel: Successfully adapting the European harmonization and aligning between the different regulatory initiatives that are currently on the table like, EMIR, MiFID II, MAD, CSD Regulation, Financial Transaction Tax... to fulfil regulatory requirements in time and to reduce impact on your operations Reinhardt Damm , Head of Trading Desk & Middle Office, Metzler Asset Management Rudolf Siebel, Managing Director, BVI Bundesverband Investment und Asset Management e.V. Giuseppe di Nanni, Trading Desk, KAS Investment Servicing Getting clarity on the key issues given their implementation status, different timelines and impact on your trading desk and how you can best prepare for meeting the upcoming regulatory deadlines Differentiating between the separation into a directive and a regulation and the impact on the MiFID II/MiFIR process and the implementation timeline Understanding the delegation of broad powers to ESMA. Will this improve quality and consistency especially concerning the implementing measures or supervisory guidelines? Is ESMA set up adequately to handle its huge list of tasks? Prioritising regulatory challenges and combining the different regulatory requirements, identifying synergies in dealing with different initiatives and using them to optimise resources and capacities Clarifying the essence of Dodd Frank and understanding the reasons behind the Act to anticipate your organisation’s needs and to prepare for a future that is still unclear Getting clarity on the new trading venue category in Europe OTF/Broker Crossing Networks and the collateral impact on market surveillance, as well as new transparency requirements on other asset classes Assessing the extension of transparency requirements to non-equities: For which asset classes is the introduction of transparency requirements a must have and which asset classes might suffer from increased transparency? Is the requirement to publish not only executed trades but also orders and quotes e.g. in bonds, structured products or derivatives adequate for these markets or are these requirements too far-reaching? Did the transparency requirements of MiFID I lead to more information for investors and regulatory authorities or did it just generate more data which triggered huge costs and reporting requirements but which is not helpful? Will investors and authorities be able to handle the huge amount of data that is put on top of this by the MiFID II transparency requirements? Reinhardt Damm Head of Trading Desk & Middle Office, Metzler Asset Management Reinhardt Damm, born in 1964, joined Metzler in 2001. As Head of the Trading Desk and the Middle Office/Advisory Desk he is responsible for order execution, efficient order settlement and the ensuring of execution quality. Since October 2010 he is also responsible for the internal und external reporting. From 1992 to 2001, he served at Dresdner Bank Investment Group in Frankfurt/Main, Germany, in [read more] Rudolf Siebel Managing Director, BVI Bundesverband Investment und Asset Management e.V. Rudolf Siebel trägt im BVI Bundesverband Investment und Asset Management e.V., Frankfurt, die Verantwortung für Recht, Statistik und Marktanalyse, Ausbildung und Mitgliederservice sowie EDV und Organisation. Er vertritt die Interessen der Investmentbranche im Fachbeirat der Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). Er ist Mitglied des deutschen SEPA-Rates, eingerichtet durch Bundesm [read more] Giuseppe di Nanni Trading Desk, KAS Investment Servicing

12.45 redicting the most accurate economic estimate in the midst of chaos, confusion and uncertainty in the Eurozone Edgar Walk, Chief Economist, Metzler Asset Management We are in a situation where most factors in the economic model are changing and when they change it accelerates an additional series of changes.  This means it becomes nearly impossible for economists to paint a clear picture of the global economy.  Current market conditions make this exercise is extremely tough. In this session we will help you to effectively solve the economic maze for you to find the quickest route to success. Edgar Walk Chief Economist, Metzler Asset Management Edgar Walk, born in 1972, joined Metzler in 2000. As Chief Economist within the asset management division, he develops quantitative fundamental models for currencies, equities and bond markets. He is also responsible for the formulation of the global economic outlook. Mr. Walk holds a Master’s degree in economics from the University of Tübingen in Germany and spent a semester at the University of [read more]

13.05 Structured Speed Networking It’s a people’s business, so your personal network is critical to your business success!  Our speed networking session at TradeTech will give you the unique opportunity to explore and build new business relationships within the industry, to get insight in best practice from peer to Structured Speed Networking you won’t get anywhere else and to support your career growth!   Accelerate your industry’s connections at this dedicated time for networking!

13.15 Lunch & Networking Lunch & Networking

14.00 Preparing your front, middle and back office for OTC derivatives reforms by using innovative technology and platform solutions Peter Schwendner, Partner, Fortinbras Asset Management Stefan Thomsen, Senior Derivatives Trader, Union Institutional Gero Breuer, Head of Trading- Orderdesk, BayernInvest Kapitalanlagegesellschaft Frank Neumann, Head of Trading, Derivative Partners Invest The MiFID effect: Getting clarity on how the new category of trading venues will work and what it means for transparency Overcoming challenges for establishing connectivity to multiple electronic platforms, CCPs and trade repositories Defining individual requirements and market needs to select the right mix of vendor solutions and legacy applications Analysing cost implications of the move to OTFs on brokers, banks, and asset managers operating crossing systems and the change in their business models: How can smaller firms justify the technology investment if they trade lower volumes? Implementing trade processing for the entire lifecycle process: Keeping track of transactions, independent valuations, reconciling trades Cross product margining across cleared and non cleared trades and positions across different asset classes Peter Schwendner Partner, Fortinbras Asset Management Peter is a Lecturer at ZHAW since 2013. Peter does quant research about rule-based investment products in the fixed income, FX and commodities space together with asset managers. Prior to joining ZHAW, he was a partner at Fortinbras Asset Management from 2009 to 2013 and previously he was a Managing Director and Head of Quantitative Research at Sal. Oppenheim jr. & Cie. from 1999 t [read more] Stefan Thomsen Senior Derivatives Trader, Union Institutional Stefan Thomsen ist Senior Derivatives Trader bei der Union Investment Institutional. Seine Arbeitsschwerpunkte liegen hier im Bereich zentraler Handel von Aktien- und Rentenderivaten, Erarbeitung von Anlagevorschlägen für das Portfoliomanagement, Overlaymanagement und Durchführung der Leihe. Zuvor war er als Equity Derivatives Trader bei der HSH Nordbank mit dem Fokus auf Market Making für Indexop [read more] Gero Breuer Head of Trading- Orderdesk, BayernInvest Kapitalanlagegesellschaft Gero Breuer leitet seit März 2010 das Trading/Orderdesk bei der BayernInvest. Von 2003 bis 2010 arbeitete er bei Allianz Global Investors und DeAM/DWS als Portfoliomanager im quantitativen Management. Einen besonderen Schwerpunkt bildeten hier die OTC-Derivate. Von 1998 bis 2002 arbeitete er auf der Sell-Side bei Dresdner Kleinwort Wasserstein und Consors Capital als Analyst. Als Diplom-Wirtschaft [read more] Frank Neumann Head of Trading, Derivative Partners Invest Frank Neumann is currently Head of Trading at Derivative Partners Invest

14.30 15 min: Interactive Poll: So what does the DACH trading community really think? This is the time to discover a deep understanding of the specific needs of the German speaking trading community.  In this real-time interactive session we will poll the senior decision makers on the hottest topics. Delegates will have the opportunity to vote anonymously and results will be discussed in real time.

14.45 Benefitting from the on-going process of market fragmentation and the Battle of Platforms to maximise your access to liquidity and to minimise trading costs caused by market fragmentation Guillermo Hernandez Sampere, Head of Trading, FPM Frankfurt Performance Management AG Martin Podeyn, Director, Business Development, ITG Per Loven, HEAD OF EMEA CORPORATE STRATEGY & PRODUCT, Liquidnet Europe Analysing the competitive battlefields between venues in the next years and benefitting from the different offerings on latency, market model, trading functionalities, clearing offering, new asset classes, data offerings. How the venues in this battlefield positioned and what are the specific offerings for the Buy Side? Assessing the impact of the OTF category and Dark/OTC Trading on the buy side caused by the new category into the European landscape of trading venues. Will the OTF category level the playing field between MTF/SI and Broker Crossing Networks? Understanding the impact on OTC market shares and on Buy Side Trading Uncovering brokers’ strategies on positioning their BCN to benefit the effect of enabling OTF to have discretion how orders are executed and flexibility concerning access Guillermo Hernandez Sampere Head of Trading, FPM Frankfurt Performance Management AG Guillermo Hernández Sampere begann 1996 bei der Finacor Rabe AG im Rentenhandel bevor er 1998 zur zum Aktien Sales-Trading wechselte, wo er bis 2001 tätig war. Nach einem Jahr als Sales-Trader bei der Seydler AG wechselte Herr Hernández 2002 als Head of Trading bei dem Hedgefond Absolute Capital Management in Spanien. Im Frühjahr 2007 wechselte Herr Hernández zur FPM AG in Frankfurt. Seitdem ist e [read more] Martin Podeyn Director, Business Development, ITG Martin heads up ITG’s Sales/Marketing and Relationship Management functions across Northern Europe (with a particular focus on German speaking countries), covering all ITG trade execution and technology services as well as analytical and investment research products. He joined ITG in 2000 after working in product and market development roles at LIFFE and Deutsche Börse. Martin holds a Masters degr [read more] Per Loven HEAD OF EMEA CORPORATE STRATEGY & PRODUCT, Liquidnet Europe Per Lovén joined Liquidnet's London office in 2007 and is now their European Head of Corporate Strategy  and Product Management. In this role, he oversees strategic initiatives, new product offerings, and liquidity strategy for Liquidnet in EMEA. Furthermore, his areas of responsibility include developing relationships with liquidity partners, analysts, regulators, and vendors. Previously, Per was [read more]

15.45 Developing innovative trading strategies for accessing emerging markets to find the best liquidity at the best price Soren Steinert, Associate Director - Equities-Trading, Quoniam Asset Management GmbH Behrad Mahmoodi, Head of Trading, Erste Spar-Invest Entifying the most important market players to overcome trading barriers. Ensuring local licences to trade and getting access to know-how about local market structures to understand the liquidity in the different markets. Is electronic trading possible and if yes, how? Optimising trading activities in partnering with local companies plus using your own resources. Considering the whole process chain and analyse the clearing infrastructure to avoid trading failure, real end-to-end analysis and evaluating counterparty risk Running innovative strategies in broker selection in regional markets to create the best broker mix out of regional and international/global brokers to minimise the risk and your resources allocation Soren Steinert Associate Director - Equities-Trading, Quoniam Asset Management GmbH Sören Steinert joined Quoniam's equities team in September 2006 and is heading Equities trading. Sören studied business administration at the European University Viadrina (EUV) in Frankfurt an der Oder, Germany, and started his professional career at Concord Effekten AG in 2001. In 2005 Sören changed to Close Brothers Seydler AG where he held the position of Head of European Equity Trading. Behrad Mahmoodi Head of Trading, Erste Spar-Invest Behrad is Head of Trading at Austrian based asset manager Erste Spar-Invest.

16.15 Refreshments and networking break Refreshments and networking break

16.45 Afternoon roundtables: The alternative platform to discuss vital issues with your peers – Collaborate & share best practice! In order for you to provide and to receive even more valuable targeted feedback and to allow you to benchmark against tomorrow’s best practice, the afternoon consists of roundtable discussions. The roundtables have been designed for: Front-office trading desks created for long-only asset managers, hedge funds, brokers and execution venues specifically for: Heads of Trading, Senior Traders, Portfolio Managers, Heads of Sales Trading  During this afternoon session you will have the opportunity to take part in interactive roundtables taking place simultaneously, lasting 30 minutes each.   The format is designed to enable you to have more intimate meaningful discussions with other industry experts on issues you identified as being most important to you.  This way you can be sure you reach practical solutions to your biggest challenges by voicing your opinion and having your unreciprocated questions answered.

16.45 Afternoon roundtables: Evaluatin...16.45 Afternoon roundtables: Multi ass...16.45 Afternoon roundtables: Adopting ... 16.45 Afternoon roundtables: Evaluating state of the art FX platforms for the buy side to gain new market opportunities: Single Dealer vs. Multi Dealer Soenke Steinert, Senior Manager Equities - Tradding, Quoniam Asset Management GmbH Analysing the preferred choice of the buy side during extreme market volatility Assessing if SDPs or MDPs are best fit for your trading needs regarding to reliability, functionality, security, pricing   Evaluating which platforms offer meaningful market data and price discovery mechanisms Determining if platforms will become regulated and what how this would impact your trading desk   Evaluating if a combination of both SDPs and MDPs could drive innovation Soenke Steinert Senior Manager Equities - Tradding, Quoniam Asset Management GmbH Sönke Steinert absolvierte sein Studium zum Diplom-Kaufmann an der TU Bergakademie Freiberg im Jahr 2006. Im gleichen Jahr begann Steinert seinen beruflichen Werdegang im Wertpapierhandel bei der equinet AG in Frankfurt am Main, wo er die Händlerprüfung ablegte. Seit Dezember 2007 verstärkt er das Equity Trading Desk der Quoniam Asset Management GmbH. Er betreut dort eigenverantwortlich den Handel [read more] 16.45 Afternoon roundtables: Multi asset trading systems to manage more complex pricing and risk management for cross-asset features Carsten Beckmann, Senior Trader, BNY Mellon Service Kapitalanlage-Gesellschaft mbH Evaluating single trading platform solutions for multi assets to enable cost synergies and fulfil the need for centrally managed risk systems  Identifying practical obstacles and understanding how to fulfil front office’s needs? Next steps in evolution: developing standardised communication formats in a multi-asset world. Integrating technology through all portals to lower operation costs Carsten Beckmann Senior Trader, BNY Mellon Service Kapitalanlage-Gesellschaft mbH 16.45 Afternoon roundtables: Adopting new strategies in High Frequency Trading and exploiting big data to predict market behaviour Tobias Preis, CEO & Founder, Artemis Capital Asset Management Integrating information from social media in your HFT strategy   Evaluating strategies in High Frequency Trading: HFT vs. High Touch.  What is possible today? Rethinking HFT the day after: The transaction tax and the upcoming end to HFT?   What might be winning alternatives? Tobias Preis CEO & Founder, Artemis Capital Asset Management Tobias Preis is an Associate Professor of Behavioural Science and Finance at Warwick Business School. In 2007, he founded Artemis Capital Asset Management. His recent research has aimed to carry out large scale experiments on complex social and economic systems by exploiting the volumes of data being generated by our interactions with technology. Preis advises government agencies as well as privat [read more]

16.45 Analysing the Characteristics an...16.45 Panel: Successfully controlling ...16.45 Combining successfully low touch... 16.45 Analysing the Characteristics and Composition of Liquidity in Dark Pools Christian Hesse, Senior Quantitative Strategist for Autobahn Equity Product Development in Europe , Deutsche Bank AG Opportunities and objectives for trading in dark pools: discretion and price improvement The importance of discretion: evidence from trade sizes in dark pools and on lit markets Achieving price improvement: performance benchmarks, execution quality and fair price Dark pool toxicity: what is the problem and how can it be measured? Christian Hesse Senior Quantitative Strategist for Autobahn Equity Product Development in Europe , Deutsche Bank AG Christian Hesse is the senior quantitative strategist for Autobahn Equity Product Development in Europe and is responsible for research and development on Deutsche Bank’s electronic and algorithmic trading platform for equities. Christian joined Deutsche Bank in 2009 from TU Berlin, after a 10 year research career in academia focused on applied biomedical signal processing, machine learning and st [read more] 16.45 Panel: Successfully controlling the cost of trading and managing evolving risks by using TCA to maximise the overall business performance starting from the trading des cross-asset features Lutz Kalthoff, Head of Equity Trading, Allianz Global Investors Using best practice in TCA to get detailed insight on the true cost of trading and to identify methods to lower cost and to higher transparency Understanding the benefit and the implementation cost structure of real-time TCA and discovering which KPIs are useful to hold your brokers to account on costs   Dealing with the dilemma of rising research bills, while compensating brokers for high touch and low-touch executions, algos, TCA and other value-added services Integrating TCA data with information used in Broker Voting and CSA management rocess to allow the effective distribution and handling of research costs between client and broker while keeping transparency high Lutz Kalthoff Head of Equity Trading, Allianz Global Investors Lutz Kalthoff is currently Head of Equity Trading at Allianz Global Investors. 16.45 Combining successfully low touch vs. high touch trading, drawing correlations between different asset classes and analysing the impact, relevance and role of HFT on market integrity, market quality, market operations and market fairness to adjust your trading strategies and to react strategically to HFT driven market patterns Ensuring superior services across both low-touch and high- touch trading to achieve highest performance and highest quality and managing sell side offerings  Implementing the right buy side tools to access liquidity and to higher the integration rate in the whole trading process and creating a dialogue that helps the sell side better understand how to go about servicing client needs Getting clarity on HFT and algo trading and assessing the proposals for HFT regulation including mandatory market making for HFT, minimum order durations, order-to-trade ratios, and mandatory providing of algorithmic trading strategies and trading parameters

17.45 End of the Conference End of the Conference