Main Conference Day Two

8:00 Registration & Breakfast Registration & Breakfast

8:45 Chairperson’s Welcome Address Garrett Nenner, Managing Director, Rosenblatt Securities Chairperson’s Welcome Address Garrett Nenner Managing Director, Rosenblatt Securities Garrett Nenner is a trading infrastructure and market structure specialist with a deep focus on improving execution for institutions. He offers unique expertise within quantitative portfolio management, trading and trading technology from his combined experiences in buy-side fund management and institutional brokerage.  Mr. Nenner has worked in the industry for more than 20 years with roles spanni [read more]

9:00 Financial Market Quality And The Future Of Market Structure Joe Gawronski, President & Chief Operating Officer, Rosenblatt Securities There have been massive changes to US equity market structure since the alleged price-fixing on the Nasdaq in 1996. As a leading global authority on market structure and one of the industry’s most sought-after experts, Joe believes that today’s market is the product of a gradual,15-‐year evolution, during which government repeatedly acted in big ways and market forces repeatedly reacted accordingly. Despite the manner in which it was create, Joe believes that modern market structure generally results in better outcomes, for both retail and institutional investors, than what it replaced. This session is not to be missed. Examining the changing structure of exchanges and sell side participants against the health of today’s markets Assessing the rules regarding off‐exchange trading, safeguards against systemic risk and the quality of markets for shares of smaller companies Determining what the decreasing number of high speed trading firms means for the future of US and global markets Forecasting upcoming regulatory activity and the impact it might have on the markets and the investor Joe Gawronski President & Chief Operating Officer, Rosenblatt Securities

9:30 Morning Keynote Panel: Defining The New Roles Of Market Makers, Market Participants & Technology Providers Neal Goldstein, Chief Information Officer, Liquidnet Brendan McCarthy, Head of Sales and Trading, Knight Capital Group Nick Nielsen, Head of Quantitative Trading, Marshall Wace Ralston Roberts, Senior Managing Director, Sungard Joseph Saluzzi, Co-Head of Equity Trading, Themis Trading How many times have you told yourself, “If I knew then, what I know now…?” This panel is your opportunity to get a head start of the rest of the market. Our panel of industry experts will share their thoughts on the evolution of our markets and what it means for the future of equities trading. Contrasting the relationships between exchanges, sell side firms and asset managers to provide an updated view of the market hierarchy Exploring viable methods to promote competition among market centers and liquidity providers Measuring the impact that technology has made on the markets in terms of efficiency, competition and regulation Determining what the future holds for traders and the average investor in the new marketplace Neal Goldstein Chief Information Officer, Liquidnet Brendan McCarthy Head of Sales and Trading, Knight Capital Group Nick Nielsen Head of Quantitative Trading, Marshall Wace Ralston Roberts Senior Managing Director, Sungard Joseph Saluzzi Co-Head of Equity Trading, Themis Trading

10:10 Morning Refreshment & Networking Break Morning Refreshment & Networking Break

10:50 Keynote Presentation: VC Outlook: Cutting Edge Developments In Capital Markets Technology Doug Atkin, Portfolio Manager, Guggenheim Partners Doug has been an investor, founder, and senior executive in the financial technology industry for over 20 years. Doug manages venture investing at Guggenheim Partners where he runs GPMCentercourt, a fund focused primarily on financial technology. In this keynote session, Doug will share what his perspective on what technologies are getting traction in the capital markets space. Understanding what types of investments are being made in the financial technology marketplace Gaining insight as to which methodologies and applications in equities are crossing over to other asset classes Identifying technological developments that are making the biggest impact on trade performance Warning: The pitfalls and dangers Doug Atkin Portfolio Manager, Guggenheim Partners

11:25 Panel: Balancing Automation With The Human Elements Of Trading Ryan Larson, Head of U.S. Equity Trading, RBC Michael Mollemans, Head of Sales Trading APAC, Pavilion Global Markets The role of the trader has shifted dramatically with the rise of automation in buy and sell side firms. We’ve seen desks shrink and margins all but disappear, but what does this mean? The trader still adds significant value to the firm, yet there are cutbacks across the industry. This panel weighs how to best balance technologies found on the buy and sell side desks with the human side of trading to help you bring the most value to your firm. Is The Street too stretched? Determining the impact on your trading desk What are some of the solutions? How does the buy side get what they need to satisfy their PMs? How does the sell side executive do more with less? Combining low touch and high touch coverage efforts Examining the causes for skepticism and exploring the advantages Assessing new technologies that create scale Ryan Larson Head of U.S. Equity Trading, RBC Michael Mollemans Head of Sales Trading APAC, Pavilion Global Markets Michael Mollemans heads up Pavilion’s Asia Pacific trading and sales desk, seeking out market opportunities and trading channels for clients. He has worked in the algorithmic trading space for 12 years. Previously, Mr. Mollemans was at Credit Suisse Securities Japan as Head of Electronic Trading. Prior to that, he worked at Daiwa Capital Markets America in New York as Head of Electronic Trading Sa [read more]

12:00 Short Selling & The Capital Markets: The NASDAQ Perspective Frank Hatheway, Chief Economist, NASDAQ OMX Frank is the Chief Economist of NASDAQ OMX Group responsible for projects and initiatives to support the markets and improve market structure. Since joining NASDAQ OMX, he has done a number of studies on NASDAQ and other markets, developed NASDAQ’s opening and closing auctions, and advised on initiatives such as the launch of the NASDAQ Options Market and NASDAQ OMX Europe. Nobody has a crystal ball to predict the future, but this session on economic growth and what lies ahead for hedge funds, investment banks, short sellers and other market players is the next best thing. What does Obama’s second term mean for the economy and financial markets? What will the ongoing de-leveraging process mean for financial markets moving forward? What does the future look like for hedge funds, investment banks, short sellers and other market players? What can companies do to more effectively position themselves as an investment opportunity amid equity market instability? Frank Hatheway Chief Economist, NASDAQ OMX

12:30 Lunch For All Attendees Lunch For All Attendees

STREAM ONE: Advanced Buy Side Tra...STREAM TWO: OTC Swaps & Deriv...STREAM THREE: Options, Futures & ... 1:30 Chairperson’s Afternoon Address STREAM ONE: Advanced Buy Side Trading David Easthope, Research Director, Securities & Investments, Celent Chairperson’s Afternoon Address David Easthope Research Director, Securities & Investments, Celent 1:30 Chairperson’s Afternoon Address STREAM TWO: OTC Swaps & Derivatives Chairperson’s Afternoon Address 1:30 Chairperson’s Afternoon Address STREAM THREE: Options, Futures & FX Interactive Workshop Program Chairperson’s Afternoon Address

STREAM ONE: Advanced Buy Side Tra...STREAM TWO: OTC Swaps & Deriv...STREAM THREE: Options, Futures & ... 1:45 ETFs Panel: Exploring New Pathways To Additional Liquidity STREAM ONE: Advanced Buy Side Trading Cole Feinberg, Director, Blackrock iShares Richard Kang, Chief Investment Officer, Emerging Global Advisors, LLC While alpha may be difficult to come by in today’s equity markets, ETFs provide a way to either profit and better manage risk. This panel helps you with: Pinpointing the catalysts for exploding ETF trading volumes Determining how ETFs are affecting volatility in the markets Exploring market structures and systemic risks in ETFs Cole Feinberg Director, Blackrock iShares Cole B. Feinberg, Director, is a Business Development Officer on the iShares New Markets Team within BlackRock's Global Client Group. Mr. Feinberg's service with the firm dates back to 2004 including his years at Barclays Global Investors (BGI) which merged with BlackRock in 2009. He heads a team responsible for driving assets into a select suite of fixed income, emerging markets [read more] Richard Kang Chief Investment Officer, Emerging Global Advisors, LLC 1:45 Panel: Determining The Real Impact Of SEFs And The Impact On Transparency & Liquidity In The New OTC Markets STREAM TWO: OTC Swaps & Derivatives Sean Owens, Director of Fixed Income, Woodbine Associates Exploring what SEF-compliance is going to look like and how organizations can position themselves to get ahead of the market Examining the ramifications of the 15-second rule, the ability to voice trade, the “block trade” definition and new best execution requirements Assessing the possibilities for information leakage under the latest regulatory guidelines What does direct access to SEFs really mean for market participants and their broker counterparts? Sean Owens Director of Fixed Income, Woodbine Associates 1:45 Futures & Options 101: The Comprehensive Interactive Workshop STREAM THREE: Options, Futures & FX Interactive Workshop Program Dan Keegan, Options Instructor and Head Options Mentor, The Chicago School of Trading Michael Lindh, Vice President and Head of Options Trading, Nuveen Could it help to add futures and options capabilities into your trading desk? The most forward-thinking buy side firms are looking beyond equities to realize true alpha. Leading buy side traders are considering the integration of options and futures into their trading desks. But changing your investment strategy isn't easy. How can you leverage options beyond basic hedging strategies? What makes an option cheaper? What is a call, collar, strangle, butterfly? Is it expensive? What should your asset class allocation look like? Lastly –how can you ensure that this change in investment strategy is a logical migration and that you have a complete understanding of the risks involved? Don’t miss this special session led by Dan Keegan of The Chicago School of Trading. Dan started out in the options business in 1978 and worked his way up in the Chicago tradition. Dan spent five years as a runner, phone clerk, and floor broker for A.G. Becker on the floor of the Chicago Board Options Exchange (CBOE). In 1984 Dan, with backing from legendary trader and adventurer Steve Fossett, began a more than twenty year career as an independent market maker on the floor of the CBOE. Dan Keegan Options Instructor and Head Options Mentor, The Chicago School of Trading Michael Lindh Vice President and Head of Options Trading, Nuveen

STREAM ONE: Advanced Buy Side Tra...STREAM TWO: OTC Swaps & Deriv...STREAM THREE: Options, Futures & ... 2:20 Panel: How Can The Buy Side Take More Control Over Order Routing Decisions? STREAM ONE: Advanced Buy Side Trading Nick Nielsen, Head of Quantitative Trading, Marshall Wace Outlining how payment for order flow has evolved Assessing how today’s models are impacting market structure; debating whether it is distorting trading Uncovering how your brokers are responding to this change in market structure; what can you do to protect against gaming and increase profits to your desk Establishing how and where your orders are being routed to overcome transparency issues Nick Nielsen Head of Quantitative Trading, Marshall Wace 2:20 Capitalizing Off Of Maximum Swaps Liquidity In Today’s OTC Markets STREAM TWO: OTC Swaps & Derivatives Joseph Bacchi, Executive Director, Morgan Stanley Investment Management The liquidity model of the exchanges relies on an extensive number of participants creating markets. Can that model work for the quote-driven OTC market? Determining the impact of Dodd-Frank on liquidity across the OTC derivatives market Exploring whether there is enough liquidity and participants to maintain a continuous market Forecasting what aggregation services and routing tools will help participants find best execution Identifying viable strategies for aggregating liquidity Joseph Bacchi Executive Director, Morgan Stanley Investment Management 1:45 Futures & Options 101: The Comprehensive Interactive Workshop STREAM THREE: Options, Futures & FX Interactive Workshop Program Dan Keegan, Options Instructor and Head Options Mentor, The Chicago School of Trading Michael Lindh, Vice President and Head of Options Trading, Nuveen Could it help to add futures and options capabilities into your trading desk? The most forward-thinking buy side firms are looking beyond equities to realize true alpha. Leading buy side traders are considering the integration of options and futures into their trading desks. But changing your investment strategy isn't easy. How can you leverage options beyond basic hedging strategies? What makes an option cheaper? What is a call, collar, strangle, butterfly? Is it expensive? What should your asset class allocation look like? Lastly –how can you ensure that this change in investment strategy is a logical migration and that you have a complete understanding of the risks involved? Don’t miss this special session led by Dan Keegan of The Chicago School of Trading. Dan started out in the options business in 1978 and worked his way up in the Chicago tradition. Dan spent five years as a runner, phone clerk, and floor broker for A.G. Becker on the floor of the Chicago Board Options Exchange (CBOE). In 1984 Dan, with backing from legendary trader and adventurer Steve Fossett, began a more than twenty year career as an independent market maker on the floor of the CBOE. Dan Keegan Options Instructor and Head Options Mentor, The Chicago School of Trading Michael Lindh Vice President and Head of Options Trading, Nuveen

2:55 Afternoon Refreshment & Networking Break Afternoon Refreshment & Networking Break

STREAM ONE: Advanced Buy Side Tra...STREAM TWO: OTC Swaps & Deriv...STREAM THREE: Options, Futures & ... 3:20 Maximizing Portfolio Performance By Combining The Benefits Of Manager & Machine STREAM ONE: Advanced Buy Side Trading Ram Ahluwalia, Principal, Winged Foot Capital Maximizing Portfolio Performance By Combining The Benefits Of Manager & Machine Ram Ahluwalia Principal, Winged Foot Capital 3:20 Maintaining Your Market Flexibility By Staying On Top Of Compliance And Changes To Regulation STREAM TWO: OTC Swaps & Derivatives Walter Zebrowski, Senior Managing Director, Chairman, Hedgemony Partners, Regulatory Compliance Association Understanding the ins and outs of Title VII and what the OTC derivatives market might look like when the dust settles Forecasting the impact of market fragmentation and methods for maximizing your access to liquidity in the new landscape Identifying best practices for deriving structure across all of your various bilateral contracts Exploring Limitations: Which products are too complex to undergo automation? Walter Zebrowski Senior Managing Director, Chairman, Hedgemony Partners, Regulatory Compliance Association 3:20 Cross Asset Moderated Interactive Roundtable Breakouts STREAM THREE: Options, Futures & FX Interactive Workshop Program Michael Lindh, Vice President and Head of Options Trading, Nuveen Chris Maxmin, Managing Director, Moon Capital Management The Cross Asset Moderated Interactive Roundtable Breakouts provide you with a chance to network and exchange ideas in this exclusive format. Smaller tables of around 6-8 trading executives ensure that everyone will be involved in more granular discussions around specific asset classes. Futures & Options Michael Lindh, Vice President and Head of Options Trading, Nuveen Investments Chris Maxmin, Managing Director, Moon Capital Management State of the FX Market Multi-Asset Trading Strategy Michael Lindh Vice President and Head of Options Trading, Nuveen Chris Maxmin Managing Director, Moon Capital Management

STREAM ONE: Advanced Buy Side Tra...STREAM TWO: OTC Swaps & Deriv...STREAM THREE: Options, Futures & ... 3:20 Maximizing Portfolio Performance By Combining The Benefits Of Manager & Machine STREAM ONE: Advanced Buy Side Trading Ram Ahluwalia, Principal, Winged Foot Capital Maximizing Portfolio Performance By Combining The Benefits Of Manager & Machine Ram Ahluwalia Principal, Winged Foot Capital 3:55 OTC Swaps & Derivatives Interactive Roundtable Session STREAM TWO: OTC Swaps & Derivatives Joseph Bacchi, Executive Director, Morgan Stanley Investment Management Walter Zebrowski, Senior Managing Director, Chairman, Hedgemony Partners, Regulatory Compliance Association OTC Swaps & Derivatives Interactive Roundtable Session Joseph Bacchi Executive Director, Morgan Stanley Investment Management Walter Zebrowski Senior Managing Director, Chairman, Hedgemony Partners, Regulatory Compliance Association 3:20 Cross Asset Moderated Interactive Roundtable Breakouts STREAM THREE: Options, Futures & FX Interactive Workshop Program Michael Lindh, Vice President and Head of Options Trading, Nuveen Chris Maxmin, Managing Director, Moon Capital Management The Cross Asset Moderated Interactive Roundtable Breakouts provide you with a chance to network and exchange ideas in this exclusive format. Smaller tables of around 6-8 trading executives ensure that everyone will be involved in more granular discussions around specific asset classes. Futures & Options Michael Lindh, Vice President and Head of Options Trading, Nuveen Investments Chris Maxmin, Managing Director, Moon Capital Management State of the FX Market Multi-Asset Trading Strategy Michael Lindh Vice President and Head of Options Trading, Nuveen Chris Maxmin Managing Director, Moon Capital Management

4:30 End Of TradeTech 2013 End Of TradeTech 2013