TradeTech Europe 2013 – Agenda – Day 2

8:00 Coffee & Registration Coffee & Registration

09:00 Chair’s Welcome Address Richard Balarkas, Independent Consultant , Chair’s Welcome Address Richard Balarkas Independent Consultant ,

9:15 Are algos and computers set to take over the world of capital markets? Who will be the winners? Svend Egil Larsen, Managing Director, Selaco AS He managed to get one step ahead of the computer algorithm of Timber Hill, a unit of US-based Interactive Brokers. The main trick was in calculating how it would respond to trades in certain illiquid stocks. The stocks would change price in a uniform way regardless of how much was bid. He found that he could put up the price with very small trades and then sell with much larger trades for a profit. He was not the only trader who worked out this flaw, which he called "painfully obvious". But he still made $50,000 (U.S.) in a few months.  Charges of market manipulation were brought against him and another trader, Peder Veiby, in a high-profile court case where the public came to look on the duo as heroic Robin Hood figures, beating the financial houses at their own game.  The courts found them not guilty of market manipulation, thanking them for making the market more efficient by exposing a flaw in the system.  Larsen continues to beat the algorithms. Find out how he did, and learn some interesting new tricks that you can use on your own desk to protect yourself from the toxic flow, and to get one step ahead of it. Svend Egil Larsen Managing Director, Selaco AS After completing his BBA in Marketing at University of Wisconsin in 1995, Svend Egil Larsen held various positions within accounting at Dresser, Halliburton and Radisson SAS Hotels. From 2000 until 2005, Svend worked for the financial online service SOL Børs and Stocklink in Oslo as a product manager, journalist, and later managing director. Stocklink was closely affiliated with the online stock b [read more]

9:50 Panel Discussion: The changing paradigm of broker/buy side relationship – what value does the customer look for and where is it going to take everyone’s business model? Rob Boardman, Managing Director, Chief Executive Officer, EMEA, ITG Dale Brooksbank, Head of European Trading, State Street Global Advisors Fabien Oreve, Global Head of Trading, Dexia Asset Management Larry Tabb, CEO, Tabb Group Jose Marques, Managing Director and Global Head of Equity Electronic Trading , Deutsche Bank’s Although TradeTech has traditionally been a conference about electronic trading it has, for some years now, been focusing on the most important relationship in the trading food chain - the buy side/sell side relationship. The buy side uses algos and computers - everything is automated; yet it is the broker/buy side relationship that makes all the difference to information leakage, security, TCA, quality and speed of execution. So does the buy side still need the brokers?  If so then why, given that everything can be done electronically and through DMA?  What does buy side look for in a brokerage and how can the sell side best adapt their services to offer best value for money? Have some of the services offered by the sell side become obsolete, too expensive and unnecessary?  What are the main differentiating factors and selling points of brokers?  Do they look all the same to buy side and how can you be different and more valuable?  Find out the answers to all these and many other questions from our panel of buy and sell side veterans.  These executives have watched the markets for decades, with the good and the bad days all. They will be giving you their greatest insights into how they are changing their strategies, adapting their behaviours and products, whilst staying one step ahead of their competitors to give their customers what they need. Learn about such issues as:  * How has the economic downturn changed the broker/buy side relationship?  * Why do most brokers look the same to the buy side?  * What is buy side looking for in a broker, and how can you offer them a unique service?  * How to build new relationships based on value and quality of execution  Rob Boardman Managing Director, Chief Executive Officer, EMEA, ITG Dale Brooksbank Head of European Trading, State Street Global Advisors Dale is a Managing Director and the Head of the European Trading team with responsibility for Equity, Fixed Income, Currency and Futures execution for SSgA in London. Dale started his career trading Fixed Income and equities at ANZ Grindlay's Bank, and then global equities and derivatives at Sarasin. Prior to joining SSgA, Dale was with Legal and General Investment Management where he was trading [read more] Fabien Oreve Global Head of Trading, Dexia Asset Management Prior to managing Dexia Asset Management’s centralised trading desk in Brussels, Oreve worked for CA Cheuvreux in Paris, where he co-founded the broker’s program trading desk in 2000. He has 15 years of experience in financial markets and holds a Master degree from Caen University. Larry Tabb CEO, Tabb Group Larry Tabb is the founder and CEO of TABB Group, the global financial markets’ strategic advisory and research firm focused exclusively on capital markets. TABB Group helps senior leaders throughout the industry make critical decisions about their business by accurately assessing their customer base, competition, and evaluating key market opportunities.Founded in 2003 and based on an interview-bas [read more] Jose Marques Managing Director and Global Head of Equity Electronic Trading , Deutsche Bank’s Jose Marques is Managing Director and Global Head of Equity Electronic Trading within Deutsche Bank’s Global Markets division and is located in New York. In his role, Marques oversees product development, distribution/marketing, and technology for the Equity components of the Autobahn platform. He has 15 years of senior experience in electronic trading at firms including Credit Suisse, Morgan Stan [read more]

10:30 Morning Coffee Morning Coffee

11:00 Panel: Outsourcing parts of your buy side trading function: looking at new business models and the moving value of buy side trader Steve Grob, Director of Group Strategy, Fidessa Carl James, Global Head of Fixed Income and FX Dealing, BNP Paribas AM Matthew Collis, Group Head of Trading, Brewin Dolphin Dermot Dunphy, Global Equitis Dealer, M&G Investments No session description available. Steve Grob Director of Group Strategy, Fidessa Steve is responsible for Fidessa’s strategic development globally, including the development of new geographic markets, asset classes and strategic partnerships and driving new industry initiatives within Fidessa's community of over 25,000 buy-side and sell-side users. As part of this Steve heads up the firm’s strategy in response to the changing trading landscape as new lit and dark venues emerge [read more] Carl James Global Head of Fixed Income and FX Dealing, BNP Paribas AM Carl James is Global Head of Fixed income and FX, for Dealing Services, and also MD for Dealing Services UK. With his global team he manages the dealing flow for the asset management arm of BNP, (current AUM EUR550B), and the flow from external clients. He was previously global head of dealing for all assets, and responsible for the security lending program at Fortis Investment Management (AUM EUR [read more] Matthew Collis Group Head of Trading, Brewin Dolphin Matthew Collis is currently Managing Director of Stocktrade and Group Head of Trading of Brewin Dolphin Limited, one of the UK’s largest independently owned investment management firms. Matthew began his career as an Investment Manager at Albert E Sharp, eventually joining its Institutional Sales / trading team (latterly Old Mutual Securities) as an M&A / risk arbitrage specialist. [read more] Dermot Dunphy Global Equitis Dealer, M&G Investments

11:40 Integrating a seamless FX strategy as part of your multi-asset approach to quality execution on a global level Andreas Anschperger, Director, FX & FI European Trading, Allianz Global Investors Europe Richard Coulstock, Head of Dealing, Eastspring Investments Henry Wilkes, Head of FX Europe and Asia, Brown Brothers Harriman Jenny Bloomfield, Senior FX Dealer, BNP Dealing Services Most TradeTech participants come from an equities background. We polled all of our trading delegates to discover that they are increasingly moving towards trading cross-asset, with FX becoming an integral part of their job.  This panel is designed to give you insight into how trading desks are adapting their strategies to become more flexible. Multi-asset is where the trading community sees its future, and this is why TradeTech is expanding its remit.  Bring your FX and other asset class colleagues to hear the experts and to discuss the future of your multi-asset strategy. Andreas Anschperger Director, FX & FI European Trading, Allianz Global Investors Europe Andreas runs the European FX Trading Team. He is responsible for the dealing and support of timing decisions made by Portfolio Managers and creation of a functioning FX Trading set-up. Andreas works with FX and treasury products for over 15 years. He rejoined DIT in 2004 as a senior FX trader. Prior to that he was a senior sales trader for 5 years at Citigroup. He is an investment professional sin [read more] Richard Coulstock Head of Dealing, Eastspring Investments Richard has been with Eastspring investments (formerly known as Prudential Asset Management (Singapore) as Director, Head of Dealing, since 2006. Previously he worked for the Abu Dhabi Investment Authority and, before that, with Scottish Widows Investment Partnership in Edinburgh. Eastspring Investments runs a team of eight dealers covering all asset classes, focusing mainly on Asian assets. Henry Wilkes Head of FX Europe and Asia, Brown Brothers Harriman Jenny Bloomfield Senior FX Dealer, BNP Dealing Services

12:20 Big Idea: What do markets have to learn from pilots and surgeons? Tony Morris, Managing Director, Fixed Income Research, Nomura Tam Rajendran, Associate, Quantitative Strategies Team, Nomura Like investors, pilots and surgeons face situations of high complexity. While training and experience are necessary, they are not sufficient.  It is a common fallacy that pilots and surgeons are individualistic and heroic, needing nothing more than their own instincts to respond to every twist and turn as it comes about, and completely "unshackled to procedure." In reality, this approach only results in a lot of risk, and needless deaths.  The truth is, good pilots and surgeons operate from a checklist that they stick to, not letting their impulses override anything else. Checklists have reduced risk of failure in both aviation and medicine, mitigating the cognitive biases most people have in the face of sheer complexity.  Complexity is unavoidable in the markets, which makes the checklist especially useful. A specially designed Scorecard provides examples of how protocol-driven investing can outperform discretionary (i.e. hero-based) investing. A key example of this occurred in 2008.  Before the Lehman crisis, many investors were focusing on record-high oil prices going short duration. But the afore mentioned scorecard considered more data, proposed long duration, and outperformed the others.  Learn how you can use this approach to mitigate risk, take more risk and yet avoid disasters and catastrophes. Tony Morris Managing Director, Fixed Income Research, Nomura Tony is a Managing Director in Nomura's fixed income research effort, part of the London-based Quantitative Strategies team. His work spans interest rates, foreign exchange, credit and commodities. Among other findings, his analysis shows that 1) alternatives as a class have provided more beta than alpha, 2) belief in the long-term performance of long-only is not justified by either theory or data [read more] Tam Rajendran Associate, Quantitative Strategies Team, Nomura Tam is an Associate in the Quantitative Strategies team. He joined Nomura in 2011 after earning his MBA from the Indian Institute of Management, Ahmedabad. He also holds a Bachelor in Technology from the National Institute of Technology, Trichy.

13:00 Networking Lunch for Delegates and Speakers Networking Lunch for Delegates and Speakers

From 1pm - Afternoon Programmes: Trading & Execution In the afternoon we offer you new content that is specifically designed for your job function and networking needs. View the agenda for TradeTech Trading & Execution here: http://www.wbresearch.com/tradetecheurope/Agenda_TradingExecution_Daytwo.aspx

From 1pm - Afternoon Programmes: Emerging Markets In the afternoon we offer you new content that is specifically designed for your job function and networking needs. View the agenda for TradeTech Emerging Markets here: http://www.wbresearch.com/tradetecheurope/Agenda_EmergingMarkers_daytwo.aspx

From 1pm - Afternoon Programmes: Swaps & Derivatives In the afternoon we offer you new content that is specifically designed for your job function and networking needs. View the agenda for TradeTech Swaps & Derivatives here: http://www.wbresearch.com/tradetecheurope/Agenda_SwapsAndDerivatives_daytwo.aspx

From 1pm - Afternoon Programmes: Trading Venues In the afternoon we offer you new content that is specifically designed for your job function and networking needs. View the agenda for TradeTech Trading Venues here:  http://www.wbresearch.com/tradetecheurope/Agenda_Venue_Daytwo.aspx

From 1pm - Afternoon Programmes: Trading Architecture In the afternoon we offer you new content that is specifically designed for your job function and networking needs. View the agenda for TradeTech Trading Architecture here: http://www.wbresearch.com/tradetecheurope/Agenda_Architecture_Daytwo.aspx