Equities Leaders Summit USA 2016 (past event)
December 05 - 07, 2016
44 20.7368.9472
The Equities Leaders Summit Day 1 - Tuesday December 6th 2016
07:30 - 08:30 Conference Registration & Networking Breakfast
08:30 - 08:35 Welcome address: Ellen Reevey
08:35 - 08:40 Speed Networking
08:40 - 08:45 Chairpersons’ Opening Remarks
Jay Wolstenholme
Senior Analyst, Securities and Investments GroupCelent
08:45 - 09:30 Buy Side Keynote Revolution : Mapping out the buy-side blueprint for success: How to improve performance, optimize efficiency and achieve compliance all at the same time in current market conditions
Regulatory reform, declining headcount, and the requirement to navigate a complex market are just some of the challenges you are facing as a buy side head of trading. With these challenges comes significant opportunity to capitalize on new trading strategies and technologies to give your trading desk the edge. In this session, equities trading leaders will set out their strategy for 2017:
- Regulatory scrutiny and market structure shifts: What are the key trends that will dominate equity trading in 2017, and how can heads of desk stay ahead of the curve?
- Tech innovation in the spotlight: Who are the new market entrants that will shake up the market place?
- Setting the mission statement for 2017: What are the key steps to creating a streamlined and efficient desk in the current market?
- Managing headcount, trader skills and technology: What are the critical success factors for creating an agile and scalable trading desk that can meet the demands of a complex trading environment?
09:30 - 10:15 All - Star Panel: Changing buy and sell side execution dynamics: How can you optimize execution services as an extension of the desk to excel in today’s market?
As broker desks continue to consolidate in the face of declining fees and increasing electronification, the touch points between trader and sales trader are changing. As information leakage appears to become less of a concern for buy side traders, more are happy to engage with a one touch trading model on the broker desk. This drill-down workshop exclusive to buy and sell side traders will unearth the implications of a one-touch sales trader on execution, and whether this model is durable.
- How can next-level execution services streamline flows and dramatically improve access to liquidity
- Sell side desk consolidation in focus: How are the sell side splitting up asset classes and account responsibilities to cover buy side demands, and how can the buy side coordinate this internally?
- Do brokers view the buy side as one account or by singular asset class? Are they skilled enough to do so?
- The rise of the one touch trading desk: How are sales traders deploying both high and low touch strategies to achieve best execution?
10:15 - 10:45 Guest presentation : Defining the art of execution: How the world’s best investors get it wrong and still make millions
- The importance of execution: How the importance of an approach to trading outweighs the validity of a good investment idea
- What are the habits of successful investors and how can they be replicated to improve trading performance
- Rabbits, Assassins, & Hunters: Pinpointing the trading approaches that thrive in current market conditions
- Drilling down into decision theory: How the world’s best traders adequately manage conviction to achieve huge profits
10:45 - 11:30 Morning Networking Break
11:30 - 12:20 Panel : Managing the intersection of regulation, market structure and technology changes: How is market structure changing to deliver underlying value and how can the buy side take advantage?
John Roeser Associate Director, Office of Market Supervision, Division of Trading and M U.S. Securities and Exchange Commission (SEC)
Ronan Ryan President IEX
Enrico Cacciatore Senior Quantitative Execution Trader Voya Investment Management
Vlad Khandros Global Head of Market Structure & Liquidity Strategy UBS
Justin Schack Managing Director and Partner, Rosenblatt Securities
Moderator:
Ari Burstein Head of US Regulatory Affairs Kreab
The debate around the IEX application to become an exchange has caused market uproar, with exchanges battling it out for a level playing field. This has put regulators into the firing line and their response is being closely watched. As 2017 looks to be a year of market structure reform, this panel provides a key look-back into how things have changed since ‘Flash Boys’ if at all and will provide a forecast on what to expect from regulation, market structure and technology:
- How will the regulatory response impact market structure competition and buy side access to liquidity?
- Protection against HFT and information leakage vs. price and the quest for increased transparency: Which buy side priority comes out on top between information leakage and information consumption? Are we still fighting over a second?
- Analyzing the impact of changes in maker taker rules: How will buy side market connectivity be affected, and how will the competition in the market change?
- Are we likely to see venue consolidation or will liquidity remain fragmented? Have we seen an increase in protection from HFT players by regulators?
John Roeser
Associate Director, Office of Market Supervision, Division of Trading and MU.S. Securities and Exchange Commission (SEC)
12:20 - 12:50 Regulatory Perspective: Fire-side chat: Preparing for key political shifts: How is the new US presidency and other geo-political factors likely to shape the future of the finance industry?
- The SEC upheaval: How a new regulatory composition will impact the policy environment and governance of:
- Dodd-Frank reforms
- Corporate taxes
- Geo-political drivers of risk are affecting your portfolio – what to watch out for in 2017
- How more stringent compliance requirements will impact heads of desk and how to ensure you don’t get caught out
- The stock market outlook: How the new US presidency will affect volatility in the market
Networking Lunch
12:50 - 14:00 Networking LunchWomen in Finance Luncheon
12:50 - 14:00 How can the fiance industry better attract, develop and retain top female talent?This women-only interactive seminar looks at what it means to be a woman in trading in 2016. Hosted by prominent women in the equity trading space, discuss how to overcome obstacles to your aspirations and successes. Come away with solutions from your female peers.
Lori Hoch
COOCortina Asset Management
TECHNOLOGY : Exploiting the Data Edge
14:00 - 14:45 Case Study Revolution: Filtering the noise and finding the signal in an information overloaded world: How to extract actionable and available insights from the multiple data sources flooding your trading desk- Harnessing multiple data sets to optimise the trade in real-time: How to create a robust, flexible and agile infrastructure that can absorb and present key information pointers with ease
- Virtualizing information from multiple sources to improve communication between PMs and traders
- Building a robust processing team: How to support data handling needs with limited resources
- How to exploit technology to ensure data integrity: How to overcome issues in data management and consumption
- Filtering through the noise: Methods of consuming information without getting confused or overloaded
PEOPLE : Re-Skilling Trading Teams for 2017
14:00 - 14:45 Case Study Revolution: Trader evolution in focus: How to equip your team with tools required to not just survive but thrive in the current tough market conditions- Skill-sets of the future – How to re-skill and re-educate your traders to meet the demands of the future trading environment
- Defining the star trader checklist: How to optimize team development and provide traders with the tools required to improve their interpretation skills
- Optimizing the results for portfolio managers: How to structure the desk to take advantage of varying trader skillsets
- Preparing for a multi-asset future: How to create a scalable and dynamic desk that will support increased cross-asset communication
COLLABORATION: Mifid II Unbundling in Focus
14:00 - 14:45 Synergy Workshop: Getting bang for your buck when paying hard dollars for research: To guarantee the highest quality research is it better to resource internally, use RPAs or outsource to a third party?As both trading and investment research has continued to become more fragmented the use of CCAs and CSAs have grown to become established industry practices. With this growth has come more regulatory scrutiny and change, designed to protect consumers and further establish market integrity. MIFID II sets to unravel this long established practice, requiring brokers to itemize the cost of research. This session will drill down into the different approaches to paying for research in this new environment. Don’t miss this key opportunity to find out:
- Confidently negotiating price and optimising spend: What is the best method to calculate an accurate budget for research payments
- Paying RPA’s, resourcing internally or outsourcing to a third party- which is most likely to guarantee the highest quality research that will improve your performance?
- Creating a robust selection process: How can you determine an appropriate provider, guaranteeing high quality research that improves performance
- Separating research and execution bills in practice: How the changes be best implemented with brokers without damaging execution or market interaction
- Excelling in a new environment: Will hefty new costs wipe out a chunk of the market, decreasing numbers of smaller asset management firms and increasing in research providers
TECHNOLOGY : Exploiting the Data Edge
14:45 - 15:05 Case Study: How to trade using Twitter: Leveraging alternative data sources to gain a critical competitive advantage social data alpha-
Twitter, Estimize, FourSquare, StockTwits and other social data sources uses in capital markets
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Sentiment and volatility in social medial: How are industry participants using alterative sources of data to extract critical signals
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Can tweets move markets? Analysing the impact of events on financial markets as they break and evolve on social media
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How to capture valid, accurate and useable data sets that will give you a competitive edge
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What does Pokemon Go and Carl Icahn have in common? How to leverage and utilize Twitter data to stay ahead of the stock market
PEOPLE : Re-Skilling Trading Teams for 2017
14:45 - 15:05 Stream continuesCOLLABORATION: Mifid II Unbundling in Focus
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15:05 - 15:35 Afternoon Networking Break
TECHNOLOGY: Next Generation Technology Initiatives
15:35 - 16:20 Case Study Revolution: Is your OMS and EMS up to the job? How is technology in this space evolving to do more with less and improve the overall efficiency of your trading desk?The role of OMS and EMS is transforming as the included capabilities move beyond traditional functionalities. Although a fully integrated OMS and EMS system is yet to hit the market to service buy side needs, this session will drill down into the key developments you can take advantage to significantly improve your workflow.
- Flexible analytics, reporting, compliance control and risk tools: How have OMS and EMS providers increased functionality in response to the market pressures, and how can they best be exploited?
- OMS as a service, the merging of OMS and EMS, or new functionalities: What does the future hold for OMS and what is their best chance of survival?
- Flexibility in connectivity- What is now required from your current OMS and EMS system? How can the industry work together to create an improved service for the buy side?
- Aggregation of pre and post trade technology: Is an OEMS beyond the realms of possibility? Why has an adaptable system not yet come to market?
COLLABORATION : Championing Buy Side to Buy Side Initiatives
15:35 - 16:20 Exclusive Invite Only Buy Side Think-Tank Followed by Drinks Reception: How can the buy side better collaborate to drive mutually beneficial buy side to buy side initiatives forward?Open to 15 Global Heads of Trading from the top 20 asset managers. Join this interactive session, air your own hot topics and together brainstorm ways you can better collaborate to drive forward buy side objectives.
TECHNOLOGY: Next Generation Technology Initiatives
16:20 - 17:05 Panel: Drilling down into the state of liquidity in the market: How can traders’ best leverage the next generation of tools and marketplaces to find liquidity?-
How have liquidity dynamics changed and what have been the implications on trading strategies?
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Who are the new generation of participants providing liquidity, and how are they finding ways to supply that liquidity to markets?
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Capitalizing on innovation in equity trading tools: How can more sophisticated technology enable the buy side search for liquidity?
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Where are the new opportunities for the buy side to source small to mid-cap liquidity?
COLLABORATION : Championing Buy Side to Buy Side Initiatives
16:20 - 17:05 Session Continued
TECHNOLOGY: Next Generation Technology Initiatives
17:05 - 17:25 Presentation: The future of Blockchain in trading: How can the buy side capitalize on opportunities presented both by the technologies and a budding asset classOver the last year blockchain technology has taken much of the financial services sector by storm and yet the buy side has been noticeably quiet on the matter. The buy side potentially has the most to gain from this budding innovation, as not only will it drive costs down by automating and commoditizing expensive underlying infrastructure, but it will also open up entirely new asset classes for investors to take advantage of. The key for the buy side is avoiding the hype, and realizing the assets may be just as important as the technology.
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What are the primary blockchain & consensus technologies in existence and how do they differ? Bitcoin, Ethereum, Corda, Juno, Raft, etc. What are the tradeoffs between permissioned and permissionless chains?
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What are the characteristics to look for when trying to decide what problems blockchain technology would be good at solving? Start with the problem, end with the technology.
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What are the investment characteristics of bitcoin, the most well developed asset to be born out of blockchain technology? Liquidity? Volatility? Sharpe Ratio? Correlations? Velocity? Valuation?
COLLABORATION : Championing Buy Side to Buy Side Initiatives
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