Day One - Tuesday, September 22, 2009

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TradeTech West Main Conference Day One

7:15 - Conference Registration & Breakfast In The Solutions Zone

Conference Registration & Breakfast In The Solutions Zone

8:00 - Opening Remarks

Opening Remarks: Sara Mueller, Executive Director, TradeTech West

8:05 - Chairperson’s Address

Chairperson’s Address

8:20 - PANEL: The New Buy Side/Sell Side Relationship: Achieving Better Service And Managing Counterparty Risk

Kevin Chapman, Head of Trading, Nicholas Applegate Capital Management
Brian Fagen, Co-Head of Liquid Market Sales, Barclays Capital
Kurt Schliemann, Managing Director, West Sales and Trading, ITG

The sell side’s role to support your trading has changed drastically over the past decade… and that change is not slowing down one bit! As service models evolve and counterparty risk looms, how can you be sure you’re maximizing your sell side relationships, and getting the trade information you need to trade profitably in today’s markets? Our experienced panel identifies the industry’s shifting trends as they discuss:

How has more electronic and email-focused communication affected the relationship between the buy and sell side?
Identifying the benefits and detriments of moving towards more agency-only and boutique brokerages
Assessing how counterparty risk may affect your decision to purchase or continue using a sell side-sponsored EMS
Uncovering how the buy side can be more proactive in managing its own trades and relying less on the sell side when service quality is an issue

Kevin Chapman

Brian Fagen

Brian R. Fagen is a Managing Director and Co-Head of Liquid Market Sales, Americas at Barclays Capital. Prior to joining Barclays Capital in 2008, Mr. Fagen spent two years at Lehman Brothers, most recently as Co-Head of Americas Liquid Market Sales. Prior to that, he held several senior roles at Morgan Stanley, including Head of Program Trading and Sales, Head of Equity Futures and Head of Money Manager Derivative Sales.Mr. Fagen is a member of the Board of Directors of BIDS Trading, an [ read more ...]

Kurt Schliemann

9:00 - PANEL: Finding Liquidity In A Fragmented Marketplace: What’s Really The Answer?

Jeff Brown, SVP of Electronic Brokerage Services, Fidelity Capital Markets
Melissa Hinmon, Senior Equity Trader, Turner Investment Partners
Richard Johnson, Product Managers Group, Liquidnet
David Margulies, Director of Sales, Pragma

In an industry that evolves as quickly as the Dow spikes then drops in these volatile times, how do you keep up to date on the offerings and pricing structures of the varying liquidity pools? This panel of experts shares their knowledge on the strategies and systems you need to route to today’s liquidity at the lowest costs. You’ll never give up that search for liquidity, but this panel will make the hunt much, much easier!

Where is liquidity today? Understanding who is actually accessing it and at what cost
Debating the benefits and detriments of using an aggregator to source liquidity pools
Identifying which tools you should add to your EMS to ensure you can trade in more places to access more pools of liquidity
Creating a plan to source liquidity cost-effectively without moving the market

Jeff Brown

Jeff Brown is senior vice president of Electronic Brokerage Services for Fidelity Capital Markets (FCM), a unit of Fidelity Investments, the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans and a leading online brokerage firm. Mr. Brown is responsible for the oversight, design and development of FCM’s electronic trading products, including the Model Trade Execution (MTRX®) suite of trading algorithms, CrossStream® ATS, and DarkSweep®, [ read more ...]

Melissa Hinmon

Melissa F. Hinmon is a senior equity trader with Turner Investment Partners, a Berwyn, Pennsylvania-based investment firm that manages more than $14 billion in growth, value, and core stocks on behalf of institutions and individuals. Melissa has more than 22 years industry experience, including 15 years on the sell-side in positions such as equity arbitrage trader and senior NASDAQ trader with Merrill Lynch in New York. While in New York, she also held a senior listed trader position with [ read more ...]

Richard Johnson

Richard Johnson oversees the Product Managers Group at Liquidnet Holdings, Inc. Liquidnet is the world's institutional marketplace that facilitates institutional equities trading for more than 550 asset management firms worldwide, with trading in 29 markets across the globe. Richard, who came to Liquidnet with the acquisition of Miletus Trading, is responsible for integrating that firm's quantitative trading services into Liquidnet. He joined Miletus Trading in 2004, where he played a [ read more ...]

David Margulies

David Margulies is Head of Algorithmic Execution for Weeden & Co’s Algorithmic Trading Group. David has been in the securities industry for over 15 years and has served in many roles specializing in electronic execution solutions. Prior to joining Weeden & Co. in 2007, David held several senior roles at Susquehanna Financial, Knight Securities, Robertson Stephens, Bridge Trading and Merrin Financial.

9:40 - Morning Refreshment & Networking Break In The Solutions Zone

Morning Refreshment & Networking Break In The Solutions Zone

10:20 - PANEL: Direct Market Access (DMA) Vs. Smart Order Routing (SOR): Finding The Quickest Route To Market Lounge

Roderick Burns, Director, Western Regional, Advanced Excution Services, Credit Suisse AES
Lee Weiner, Director, Senior Business Systems Analyst, Harvest Capital Strategies LLC

How does one make sense of all the routing and execution strategies available today? You’ve heard of the benefits of direct market access and smart order routing, but which technology can really get you to market fastest? Our panel examines the latest offerings in both SOR and DMA to ensure your desk is set up with the tools you need to compete in today’s connected global trading world. • SOR and DMA: What are the similarities vs. differences and are they still considered two separate solutions? • As smart order routers become faster and smarter, are they beginning to replace DMA? • Identifying when traders should consider switching some of their DMA into more SOR type strategies • Determining the most advantageous way to reach the marketplace as cost structures change across all trading venues

Roderick Burns

Rod Burns, is a Director with Credit Suisse Advanced Execution Services (AES), and is responsible for the Western Region. In marketing direct market access and algorithms, Rod and the West Coast team focus on market microstructure research, pre/post trade analysis and liquidity profiles of individual names and markets. Rod was previously National Director of Electronic Sales for Knight Capital Group, where he has responsible for Knight Direct and EdgeTrade algorithmic sales. Rod also managed [ read more ...]

Lee Weiner

Lee Weiner, a Director, joined Harvest Capital Strategies in 2007. He specializes in managing trading systems and alternative trading. Prior to joining Harvest Capital, Mr. Weiner designed a multi-asset class trading system and an options market making platform for Newedge, a division of Société Générale. Through 2003, Mr. Weiner managed risk based trading systems for Banc of America Securities. He also founded and was General Partner at Weiner Capital Management, a options market making firm. [ read more ...]

11:00 - Financial Regulatory Reform In The U.S

Linda Lord, Managing Director, Head of US Legislative and Regulatory Affairs, UBS Investment Bank

Financial Regulatory Reform In The U.S

Linda Lord

Ms. Lord joined UBS in 2003 and serves as Head, US Legislative and Regulatory Affairs. Previously, Ms. Lord served as Chief Counsel of the United States Senate Committee on Banking, Housing, and Urban Affairs. Prior to joining the Banking Committee in January 1999 as Chief Counsel, Ms. Lord was a partner in the Washington, D.C. office of the Venable law firm. Ms. Lord spent 12 years in the private practice of law in the District of Columbia, representing banking companies in regulatory [ read more ...]

11:35 - Guest Speaker: Nerds On Wall Street: Math, Machines, And Wired Markets

David J. Leinweber, Haas Fellow of Finance, Founding Director, Center for Innovative Financial Technology, U.C. Berkeley

As a self-proclaimed “longtime financial markets A1 geek” and industry innovator, David J. Leinweber is no stranger to technology’s influence on the way you trade, and the current state of our financial system. His presentation uncovers how technology has gotten us to where we are today; but more importantly, how the nerds on Wall Street will help to get us out of the current financial market chaos through greater risk management and technological innovations.

Examining the impact of technology on global financial markets today
Assessing the role technology played in contributing to the current market crisis
Do we need a capital markets safety board and what would this look like?
Exploring Berkeley research for early warning indicators, like a VIX for CDO/CDSs, and more

David J. Leinweber

12:15 - Lunch

Lunch

1:15 - Chairperson’s Address

Track A - Trading Systems & Architecture Performance

Chairperson’s Address

1:15 - 4:35 - Buy Side Head Trader Think Tank

Buy Side Head Trader Think Tank

Lynn Thomas Challenger, Director of Global Trading, Mellon Capital Management
Lisa Hansen, Head Trader, Delaware Investments
Michael Lindh, VP, Head of Trading, Nuveen HydePark Group, LLC
Frank Loughlin, Co-Head Americas Equity Trading, AllianceBernstein
Lee Morakis, Managing Director, Portfolio & Electronic Trading, Bank of America Merrill Lynch

Consistently cited as most head traders’ “favorite part of TradeTech” where “it’s shocking how open and honest participants are,” the Buy Side Head Trader Think Tank is back for the third year in a row! This exclusive, invitation-only session allows you to strategize and debate solutions to ramping up the performance of your trading desk with your head trader peers in an environment free of vendors or media. Think Tank discussion topics will be confirmed a few weeks before the event to ensure the most critical, current items to successfully run a trading desk are discussed. Join our LinkedIn community or follow us on Twitter @TradeTech to tell us what you want to hash out during the Think Tank! To request your invitation to this unique event, please contact Rob Golen at 416-597-4771 or robert.golen@wbresearch.com. Think Tank Chair Person: Lee Morakis Think Tank Moderators: Lisa Hansen, Michael Lindh, Lynn Thomas Challenger and Frank Loughlin

Lynn Thomas Challenger

Lisa Hansen

Michael Lindh

Mike Lindh oversees trading at HydePark. Prior to his current role at HydePark, Mike was a principal and senior quantitative research analyst at Harris Investment Management. During his 20 years of [ read more ...]

Frank Loughlin

Lee Morakis

Lee manages North American Portfolio and Electronic Trading for Merrill Lynch, and has done so for the last three years. Lee helped build Merrill's portfolio and electronic product suite into a top [ read more ...]

1:25 - PANEL: Overcoming Performance Issues With Your OMS To Maintain A Dependable Platform In Times Of High Volatility

Track A - Trading Systems & Architecture Performance

Peter Arestides, Senior Developer, TIAA-CREF
Gregg Drumma, VP of Electronic Trading, Linedata Services
Kyle Salmon, Trading Support Specialist, Artisan Partners

If you’ve ever thought that maintaining the performance of your OMS is eating up too much of your time, then you can’t miss this discussion! Our panelists dig deep into the functionalities of the current on- and off-the-shelf OMS systems to increase efficiency and create a plan of adaptability to support an ever changing marketplace.

Assessing how your OMS platform is responding to the massive amount of messages being sent through its system that it wasn't built to process
Identifying what other buy side firms are doing to troubleshoot OMS performance issues and maintain a stable platform
Where can vendors lend a hand? Determining what vendor offerings can assist in overcoming your performance issues
Staying up to date on FIX hubs and connections to ensure dependable performance of your OMS through all levels of volatility

Peter Arestides

Peter Arestides manages production support and development for TIAA-CREF’s San Francisco equity trading desk. Peter’s San Francisco group provides 24-by-6 trading operation support, enabling trading [ read more ...]

Gregg Drumma

Gregg Drumma, Vice President, Electronic Trading Product Management at Linedata Services, Inc. is an industry veteran with over ten years experience developing and delivering STP solutions to the [ read more ...]

Kyle Salmon

Buy Side Head Trader Think Tank Continued

No session description available.

2:45 - Afternoon Refreshment & Networking Break In The Solutions Zone

Afternoon Refreshment & Networking Break In The Solutions Zone

3:20 - PANEL: Increasing The Performance Of Your Algo Trading Strategy In A Highly Volatile Marketplace

Track A - Trading Systems & Architecture Performance

Tom Chippas, Managing Director, Head of Autobahn Equity Sales - North America, Deutsche Bank
Tim Olsen, SVP and Head Equity Trader, ICM Asset Management

Staying up to date on the current algo offerings can be a challenge. Learn from this panel the latest algo trading strategies being adopted successfully, so you can boost the performance of your trading desk regardless of volatility levels.

Identifying which algo trading strategies have held up particularly well, or fared worse, because of the increased volatility
How has the proliferation of similar-type algorithmic strategies altered market structure and affected overall algo performance? Can this be measured or counteracted?
Explaining how complex event processing (CEP) has enhanced algo offerings and performance
Debating if algos on the bleeding edge of technology provide better execution and lower costs or are too sophisticated for their own good
Uncovering if algorithms have robust enough anti-gaming strategies or if improvements are still needed

Tom Chippas

Tim Olsen

3:20 - Using Technical Analysis To Create A More Competitive Equity Trading Strategy

Track B: Equity Trading Strategies

Michael Carr, Chief Market Strategist, Dunn Warren Investment Advisers

As the buy side continues to become more independent in their trading strategies, technical analysis is a tool used by more and more traders each day. Michael Carr, a trader, industry writer, and editor of the Market Technician’s Association’s monthly newsletter, provides you with a step-by-step guide to maximize the performance of your equity trades with technical analysis.

Discussing the growing importance of using technical analysis in your trading strategy as the buy side becomes less reliant on sell side research
Which technical charts are best for decision making? Identifying which quote vendors contain technical analysis charts on their systems and comparing offerings
Determining which combination of technical analysis and trading rules are currently used to choose the best equity trading strategy

Michael Carr

Michael J. Carr is the chief market strategist at Dunn Warren Investment Advisors, LLC. He has written extensively about the financial markets for more than ten years. Mike has been the editor of the [ read more ...]

4:00 - PANEL: Achieving Full Functionality Of Your EMS To Manage Growing Electronic Trading Demand

Track A - Trading Systems & Architecture Performance

Ignatius John, Director, Global STP Solutions, AXA Rosenberg
Justin T. Kane, Principal, Director of Equity Trading, Rainier Investment Management

Long has been the debate of OMS vs. EMS. But once you’ve made the decision to utilize an EMS, it’s no easy task to implement, integrate, and maintain peak performance. Optimize your EMS system by learning from this panel the EMS tools they use, what works, and how it has created greater independence for their traders.

Re-thinking how the EMS exists on your desk after the fallout of the credit crisis; is there risk in having a broker-sponsored platform?
Explaining why the EMS is more critical as your reliance on it to trade independently in the current marketplace increases
Looking to upgrade or make a new purchase?

Understanding the differences between broker-sponsored vs. technology-sponsored EMS platforms
Identifying which EMS can integrate most seamlessly to your OMS or other desktop applications

Making sure you have the tools in place on your EMS to support higher trading demand

Ignatius John

Justin T. Kane

4:00 - A Global Tactical Trading Strategy To Avoid Bear Markets

Track B: Equity Trading Strategies

Mebane T. Faber, Managing Director and Portfolio Manager, Cambria Investment Management

Mebane Faber’s white paper, “A Quantitative Approach To Tactical Asset Allocation,” published in 2007 is among the top five downloaded financial papers of all time on the Social Science Research Network. During this presentation, he’ll share the strategy – which would have avoided the current bear market – that he outlined in his white paper.

Presenting a simple quantitative asset allocation method that improves the risk-adjusted returns across various asset classes
Staying out of bear markets by trading US stocks, foreign stocks, bonds, real estate, and commodities using ETFs or futures and options
Outlining the elements of this long-term strategy; reviewing past results

Mebane T. Faber

Prior to joining Cambria Investment Management, Inc., Mr. Faber served as a Quantitative Research Analyst and Trader at the VTrader Group, a San Francisco based futures broker/dealer. His [ read more ...]

4:35 - UBS Gala Cocktail Reception

UBS Gala Cocktail Reception

6:00 - Conclusion Of TradeTech West Main Conference Day One

Conclusion Of TradeTech West Main Conference Day One