13 February, 2013
France

TradeTech France Agenda

Main Conference 13th February 2012

Achieving MiFID II compliance and optimising trading through algos and HFT

TradeTech France is a boutique conference exclusively for the electronic trading community of the Francophone nations bringing speakers from across Europe to Paris. At a time when global regulatory change is set to revolutionise market structure in Europe this event, held in French and English languages, offers the buy side a unique opportunity to come together and assess how these sweeping changes, such as MiFID II, will impact their industry and trading system choices.

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8:00 REGISTRATION AND COFFEE
REGISTRATION AND COFFEE
08:50
Chair's opening remarks
Jean-René Giraud, Chief Executive Officer, Koris International
No session description available.

Jean-René Giraud
Chief Executive Officer, Koris International

09:00 Keynote speech: Repositioning the French economy in Europe
Disclosing the economic outlook on the eurozone's second largest economy and its ability to withstand economic and financial headwinds over Europe's debt troubles and difficulties in the US.
9:30 MiFID II: First-hand clarity on what you need to change today to comply with the MiFID Review
Karel Lannoo, Chief Executive Officer, Centre for European Policy Studies
Kay Swinburne, Member, Committee on Economic & Monetary Affairs, European Parliament
Jean-Baptiste de Franssu, Former CEO, Invesco Europe, Former President, European Fund and Asset Management Association
Thierry Francq, General Secretary, AMF
Maria-Teresa Fabregas-Fernandez, Deputy Head of our Securities Markets Unit, European Commission
Jean-René Giraud, Chief Executive Officer, Koris International
Revealing the detailed MiFID II timeline and how it will affect your trading models in practice, as well as the implications on your business strategy. Understand how to efficiently provide end investor's protection while minimising your costs of compliance.
  • Clarifying AMFs interpretation of the MiFID Review for buy side Heads of Trading to ensure transparency and efficiency are balanced
  • A candid insight on the introduction of a consolidated tape: Who will be responsible, when exactly will it come into force and what precisely will be involved?
  • Examining practical implications and the view of the regulator for traders on the introductions of OTFs
  • Detailed regulatory information on risk controls to be implemented by HFT firms
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Karel Lannoo
Chief Executive Officer, Centre for European Policy Studies

Karel Lannoo (°1961) is chief executive of the Centre for European Policy Studies (CEPS), one of the leading independent European think tanks. He has published some books and numerous articles in specialised magazines and journals on general European policy, and specifically financial regulation and supervision matters. His latest book The Mifid Revolution was published by Cambridge in September 2 [read more]
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Kay Swinburne
Member, Committee on Economic & Monetary Affairs, European Parliament

Kay Swinburne is Member of the European Parliament since July 2009. Dr. Swinburne is currently a member of the Economic and Monetary Affairs Committee and temporary Committee on Financial, Economic and Social Crisis, and is the European Conservatives and Reformists co-ordinator for both committees. Other responsibilities include being a substitute member on the Foreign Affairs Committee, member of [read more]
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Jean-Baptiste de Franssu
Former CEO, Invesco Europe, Former President, European Fund and Asset Management Association

Jean-Baptiste de Franssu is Former Chief Executive Officer of Invesco Europe. He joined Invesco France in July 1990, moving to his current position when Invesco Europe was founded in 1996. He is a member of the INVESCO Worldwide management committee. Before joining Invesco, Jean-Baptiste was a Director of Groupe Caisse des Dépôts et Consignations in France, and prior to this a Financial Editor at [read more]
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Thierry Francq
General Secretary, AMF

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Maria-Teresa Fabregas-Fernandez
Deputy Head of our Securities Markets Unit, European Commission

María Teresa Fábregas is currently Deputy Head of Unit in the Securities Markets unit in the Directorate-General for Internal Market and Services of the European Commission, dealing with the markets in financial instruments Directive (MiFID), market abuse, prospectus and short selling. Previously, in the same Directorate-General, she has been responsible for credit rating agencies, investor-compen [read more]

Jean-René Giraud
Chief Executive Officer, Koris International

10:30 Market structure: Revealing strategies to successfully exploit the different types of fragmentation and assessing the future of the European execution landscape
Fabien Oreve, Global Head of Dealing Desk, Dexia Asset Management
Lisa Dallmer, COO Cash European Markets, NYSE
Jean-René Giraud, Chief Executive Officer, Koris International
The expert traders on this panel will reveal proven strategies for instantly accessing natural liquidity at a good price at all times in the wake of MiFID II
  • An in-depth analysis of where you will find first class liquidity to achieve best execution
  • Exchanges consolidation and competition: What exactly will be the impact on your trading activities?
  • What are the advantages and disadvantages of MTFs versus traditional exchanges and what are the best ways to incorporate MTFs in your liquidity strategy?
  • Examining how MiFID II has treated lit versus dark trading and assessing the future of dark pools
  • Where as a buy side trader can you effectively execute block trading in a timely manner in tomorrow's fragmented landscape?
  • Taking advantage at all times of the fragmentation to get the best price for your liquidity
  • How the collaboration of competing CCPs can improve your efficiency of cash equities trading
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Fabien Oreve
Global Head of Dealing Desk, Dexia Asset Management

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Lisa Dallmer
COO Cash European Markets, NYSE

Lisa M. Dallmer is Chief Operating Officer of European Cash Market Execution Services for NYSE Euronext. In this capacity, she is responsible for managing the services for equity and fixed income markets operations in Europe. These businesses are composed of several dimensions such as market and systems operations, micro-markets structure, liquidity provider programs, order book surveillance monit [read more]

Jean-René Giraud
Chief Executive Officer, Koris International

11:20 Networking refreshment break in the exhibition area
Networking refreshment break in the exhibition area
11:50 Broker selection: Essential techniques and tools to analyse broker performance to ensure you select the best trading partner
Jean-Marie Rey, Co-Head of Trading, CM-CIC Asset Management
François Pradel, Product Offering Director, Asset Management, Savings & Insurance, Linedata
Eric Heleine, Senior Trader, Groupama
Jean-René Giraud, Chief Executive Officer, Koris International
Discover the critical questions you should be asking your broker and the strategies employed by top traders to determine which one is the quickest to meet your trading needs.
  • Evaluating whether TCA is the best way to measure broker performance or are there other factors you need to take into account?
  • Establishing the benefits of CSA and how you should be using it when assessing broker performance
  • Is price or value the most important to you?
  • How has the RTO status impacted the relationship between buy side and brokers?
  • Price and service comparison between RTOs and brokers to determine which one is more advantageous for smaller asset managers
  • How does the future look brokers when private banks and big buy side companies are going directly to trading venues?    
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Jean-Marie Rey
Co-Head of Trading, CM-CIC Asset Management

Dans la finance depuis 1994 au sein du Credit-Agricole Indosuez puis de la Banque de Gestion Privée Indosuez jusqu'en 2004. Au Trading Desk de CMCIC AM depuis fevrier 2004 et responsable Trading du service Portefeuilles & Negociation depuis fevrier 2010.
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François Pradel
Product Offering Director, Asset Management, Savings & Insurance, Linedata

François graduated from Sciences Po Paris and holds a Master of Finance. He started his career on the trading floor at CCF in 1988, based in Paris and in Tokyo. After working for AXA Investment Managers for 6 years as an Organization Manager, in 1998 he joined SYNAGIR, a consulting company, as a partner of the Asset Management department. François Pradel joined Linedata in February 2011 and he is [read more]

Eric Heleine
Senior Trader, Groupama

Jean-René Giraud
Chief Executive Officer, Koris International

12:50 Networking lunch in the exhibition area
Networking lunch in the exhibition area
13:50 Afternoon keynote speech: Globalization and statistical convergence: How asset management is evolving
Srikanth Iyer, Senior Portfolio Manager, Head of Global Equities, Guardian Capital
Afternoon keynote speech: Globalization and statistical convergence: How asset management is evolving
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Srikanth Iyer
Senior Portfolio Manager, Head of Global Equities, Guardian Capital

Sri joined Guardian Capital in 2001 and is the architect and founding portfolio manager of the global equity process. His background in portfolio management, accounting, and applied finance were key elements to his work in the field of Global convergence and in building a Global integrated alpha/risk system. Prior to Guardian, Sri worked in Princeton, New Jersey from 1993 to 2001 for Global Value [read more]
14:20 Optimising your use of dark pools to minimise market impact when executing block trades
David Miller, Head of Trading, Invesco Perpetual
Per Lovén, Head of International Corporate Strategy,, Liquidnet
Jean-René Giraud, Chief Executive Officer, Koris International
Europe's lead traders are adapt at using dark pools to hide their trading activity. But now these pools of liquidity are under scrutiny from regulators. This is your chance to forge the debate, to protect yourself from being gamed in dark pools and to find out what the future holds!
  • What do dark pool managers need to do in order become a venue of choice for the buy side? Can you detect the "toxic" ones?
  • Is information leakage appearing across dark pools? How much leakage is there actually from pool to pool? Could this potentially lead to a degradation in liquidity quality for your trading desk?
  • How can dark pool managers expose unfilled orders without disclosing price-moving data about unmet demand?
  • MiFID IIs treatment on dark pools and how it's going to affect your trading activities
  • Proven strategies for your desk to safely trade in the dark
  • Showcasing the best international buy side strategies that will meet your demands for dramatically reduced market impact and lower trading costs
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David Miller
Head of Trading, Invesco Perpetual

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Per Lovén
Head of International Corporate Strategy,, Liquidnet

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]

Jean-René Giraud
Chief Executive Officer, Koris International

15:00 Networking refreshment break in the exhibition area
Networking refreshment break in the exhibition area
15:30 The very latest technology innovations and insights to pinpoint and exploit market liquidity
Ian Jack, Director of Business Development for Infrastructure, NYSE Technologies
Gilles Guérin, CEO, Theam (BNP Paribas Investment Partners)
Sinan Baskan, Vice President, FSI Solutions Group, Worldwide Field Operations, Sybase
Jean-René Giraud, Chief Executive Officer, Koris International
In today's fast pace low-latency environment, fractions of a second are the difference between winners and losers in the market. This session will provide you with usability lessons to properly see the best liquidity at the right time using cutting edge technology
  • Is SOR technology delivering on its promises for traders? What exactly can SOR do for you?
  • Enabling you take advantage of extra liquidity while fully complying with MiFID II
  • Maximising your trading efficiency with the shortest routes in tomorrow's market with the lowest latency connectivity
  • How is low latency likely to impact your business and the market landscape?
  • Evaluating the sustainability of the low latency model and trends forward
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    Ian Jack
    Director of Business Development for Infrastructure, NYSE Technologies

    Ian Jack is the Business Development Director, European and Asian Connectivity for NYSE Technologies, the commercial technology business of NYSE Euronext. Mr. Jack is responsible for further developing the Secure Financial Transaction Infrastructure (SFTI ®) platform in Europe and Asia and continued migration of legacy networks. The SFTI business unit has two core functions, provi [read more]
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    Gilles Guérin
    CEO, Theam (BNP Paribas Investment Partners)

    Sinan Baskan
    Vice President, FSI Solutions Group, Worldwide Field Operations, Sybase

    Jean-René Giraud
    Chief Executive Officer, Koris International

    16:15 High frequency trading and its market quality - Is the market better off with or without HFT?
    Jean-Philippe Bouchaud, Chairman, Capital Fund Management
    Hendrik Klein, CEO , Da Vinci Invest
    Arzhang Kamarei, President, Tradeworx
    Jean-René Giraud, Chief Executive Officer, Koris International

    According to the AMF, in 2011, at least half of the orders on CAC 40 were executed by HFT. Today, it accounts for two thirds of the daily volumes in equities in the US. In Europe, it symbolises between 30% and 35% of transactions. With the dramatic improvement of technology, this increasingly sophisticated and automated activity is on the rise. Should you be worried?

    • Does HFT have a positive or negative impact on the market volatility? Are they creating artificial price differences between lit and dark pools?
    • Best strategies for your trading desk to interact with HFT liquidity
    • Should you be concerned about pinging and gaming from high frequency trading and how can you avoid it?
    • What impact will MiFID II have on your trading if regulators impose speed limits and install circuit breakers? How will this impact the market?

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    Jean-Philippe Bouchaud
    Chairman, Capital Fund Management

    Dr. Jean-Philippe Bouchaud was appointed Chairman and Chief Scientist of CFM in October 2001. At CFM, Dr. Bouchaud supervises, together with Dr. Potters, the research team of CFM, and contributes by maintaining strong links between CFM’s research and the academic world. After studying at the French Lycée in London, Dr. Bouchaud graduated from the École Normale Supérieure in Paris, France, where he [read more]
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    Hendrik Klein
    CEO , Da Vinci Invest

    •CEO, CIO and Co-Founder of Da Vinci Invest •Partner and Head of Trading; Frohne & Klein Wertpapierhandelshaus GmbH, Frankfurt/M •Head of Equity Derivatives Proprietary Trading; Landesbank Baden Württemberg •Derivative Trader; FIMAT International and MTH Group •Diploma in Business Administrati [read more]

    Arzhang Kamarei
    President, Tradeworx

    Jean-René Giraud
    Chief Executive Officer, Koris International

    17:00 Closing remarks
    Closing remarks
    17:10 Networking drinks reception
    Networking drinks reception
    Networking refreshment break in the exhibition area
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