TradeTech Europe 2015 (past event)
14 - 15 April, 2015
CNIT, Paris-La Défense, France
Paris, France Contact Us: 1.888.482.6013
14th April - The evolution of equity trading and technology
08:00 - 08:55 Continental Breakfast and Registration
08:55 - 09:10 Chairman’s Opening Remarks
09:10 - 09:30 BUY SIDE KEYNOTE: Re-evaluating global market opportunities- Equities and beyond
09:30 - 09:50 INTERVIEW: The trading desk of the future- New developments and challenges in European buy side trading
ITG is an independent execution and research broker that work with global portfolio managers and traders. Find out from ITG’s CEO how a real life partnership with State Street Global Advisors works in practice and how they can empower the buy side investors: From the investment decision stage to settlement with an increased intellectual capital and first class technology.
» What needs to change and why?
» The impact of the evolving and merging of the buy side and sell side technologies and
how to ensure maximised revenues and capturing alpha
» Identifying what platforms are available to the buy side to optimise the trading desk
performance and better monitor
09:50 - 10:30 ALL STAR PANEL: Unbundle the unbundling- How will Commission payment changes alter access to liquidity and shift market structure?
Benefi t from insight of key regulatory body, ESMA, and leading buy side and sell side experts in how the changes to research payments and a more itemised payment model will
impact your business. Learn winning strategies to increase margins yet still source liquidity and value.
» Clarifi cation on the Dealing Commission’s requirements on what can be paid for with commissions: Corporate access, execution, research?
» Managing confl icts of interest for buy side and sell side in best execution policies and payments for research: Where does the responsibility lie?
» How are the sell side reacting and increasing transparency for the market and offering value for money
10:30 - 11:10 Refreshments in the Exhibition Hall
11:10 - 11:30 KEYNOTE BUY SIDE PRESENTATION: Leveraging volatility in the market for new investment opportunities
Gilbert has been driving forward the use of volatility as a new asset class, for new investment opportunities. He provides insight on analytical approaches, market participants and product range to better understand the current market, future opportunities and how this benefi ts the end investor.
» Volatility funds as an investment of their own: How to capitilise on volatility for improved liquidity?
» Leveraging the ability to trade both long and short term investments to provide more trading opportunities
» Analytical approaches to test for this volatility and to better understand the current market, and future opportunities
» Overview of the benefi ts of volatility trading to the end investor
11:30 - 12:00 Central banks boosting asset values. How to get positioned?
Fabrice Theveneau
Head, Equity and Credit ResearchSociete Generale Corporate & Investment Banking
12:00 - 12:40 ALL STAR PANEL: The equity business model of the future: Is consolidation of all market participants a reality?
Speakers:
Christoph Mast Global Head of Trading Allianz Global Investors Europe GmbH
Simon Steward Head, European Equity Trading Capital Group
Arjun Singh- Muchelle Senior Advisor Regulatory Affairs (Wholesale & Capital Markets) The Investment Association
Phil Allison CEO KCG Europe
Antoine Bisson Head of Execution Services Exane BNP Paribas
Christoph Mast Global Head of Trading Allianz Global Investors Europe GmbH
Simon Steward Head, European Equity Trading Capital Group
Arjun Singh- Muchelle Senior Advisor Regulatory Affairs (Wholesale & Capital Markets) The Investment Association
Phil Allison CEO KCG Europe
Antoine Bisson Head of Execution Services Exane BNP Paribas
Is there really market consolidation? Ask the experts on where and when consolidation is occurring and what does this mean for you. Key buy and sell side players discuss evolving roles of both sides of the market. Discuss if and how growing autonomy of the buy side is going to impact the market chain.
» Understanding the further implications of price crunched mid-tier asset managements and brokers and the next steps for business growth
» The impact of the rise of specialist research companies and agency brokers for the top tier investment banks
» Managing growth of the SME market and evaluating liquidity and transparency of these stocks: Options for rewarding smaller brokers offering unique services under the current pricing model
» Knock-on effects of trends in buy side internal research on research costs for the sell side research cost for the sell side
Arjun Singh- Muchelle
Senior Advisor Regulatory Affairs (Wholesale & Capital Markets)The Investment Association
12:40 - 13:50 Lunch
Stream A: New Technologies: TCA, SOR & OMS/EMS
13:50 - 14:00 Chairperson’s Opening Remarks
Carl James
Former, Global Head of Fixed Income and FX DealingBNP Paribas Investment Partners
Stream B: Next Generation Trading Strategies
13:50 - 14:00 Chairperson’s Opening Remarks
Tony Whalley
Former, Head of Equity Dealing and Derivatives , Scottish Widows IPFormer Scottish Widows IP
Stream C: Buy-Side Only Round Table Cafés
13:50 - 14:00 Chairperson’s Opening Remarks
Stream A: New Technologies: TCA, SOR & OMS/EMS
14:00 - 14:20 DISCUSSION PANEL: Making smarter trading decisions in real time: What does this really mean?evaluate market opportunities and act in real time. Benefi t from key technology providers debating how current technology can be applied correctly to provide the market with smarter trading capabilities.
» How to adapt trading processes considering the current market changes
» Understanding how research investments can really improve work fl ow processes
» The role of OMS and EMS in the search for alpha as part of the improved process
» Evolution of big data tools to manage increasing amounts of data and to make real time decisions
» Integrating these new tools and systems effi ciently through the whole investment cyclepractical insight
Stream B: Next Generation Trading Strategies
14:00 - 14:20 How to execute global investment strategy to best prepare for international business opportunities
Stream C: Buy-Side Only Round Table Cafés
14:00 - 14:20 Process Development for Best Execution
There will be 3 round tables, each limited to 10 people per table. Each table is targeting challenges specific to AUM size.
ROUNDTABLE CAFÉS:
1) How to improve desk efficiency with innovative workflow and communication structures
Matthew Howell, Senior Trader, T. Rowe Price
2) Establishing effective order routing to brokers for best execution: A technical perspective
Duncan Higgins, Head, Electronic Trading Sales, ITG
3) How to execute more controlled order routing internally for best execution
Neil Bond, Head Trader, Ardevora Asset Management
ROUNDTABLE CAFÉS:
1) How to improve desk efficiency with innovative workflow and communication structures
Matthew Howell, Senior Trader, T. Rowe Price
2) Establishing effective order routing to brokers for best execution: A technical perspective
Duncan Higgins, Head, Electronic Trading Sales, ITG
3) How to execute more controlled order routing internally for best execution
Neil Bond, Head Trader, Ardevora Asset Management
Stream A: New Technologies: TCA, SOR & OMS/EMS
14:20 - 14:40 Discussion Panel continuedStream B: Next Generation Trading Strategies
14:20 - 14:40 DISCUSSION PANEL: How detrimental is HFT behavior and possible front running to the market?
Stream C: Buy-Side Only Round Table Cafés
14:20 - 14:40 ROUNDTABLE CAFÉS continuedStream A: New Technologies: TCA, SOR & OMS/EMS
14:40 - 15:00 DISCUSSION PANEL: Are current technological developments really allowing for better real time analysis, execution control and costs?Developments in TCA are a major industry focus, but do they live up to industry requirements? Discover, from two investment managers, how they are assessing current technologies and the factors they identifi ed to be major indicators of ROI for an organisation.
» Effectively matching data and evaluating it’s representation of the market
» How to effectively perform TCA and adhere to current good practice
» Current solutions and approaches to contextualized trading- how can this be achieved?
» Who actually looks at this information? Approaches to effective extraction of relevant data the correct information
» The role of TCA in dark pool moderation: How can this be implemented in practice?
» Being prepared for increased complexity in questions from clients and truly understanding the cost implications for the buy side
Stream B: Next Generation Trading Strategies
14:40 - 15:00 Discussion Panel continuedStream C: Buy-Side Only Round Table Cafés
14:40 - 15:00 ROUNDTABLE CAFÉS continuedStream D: Leader Think-Tank
14:40 - 15:00 Closed Door Buyside Think Tank
Invite only closed door boardroom catering for discussions with 10-15 Global Heads of Trading- invite only. Topics will be decided closer to the time.
- No press
- Session write ups provided for those attending
NB- details on suggested topics on the more detailed agenda
Participants:
David Miller, Invesco Perpetual
Melissa Tuttle, PIMCO
Gianluca Minieri, Pioneer Investments Management
Simon Steward, Capital Group
Plus more
- No press
- Session write ups provided for those attending
NB- details on suggested topics on the more detailed agenda
Participants:
David Miller, Invesco Perpetual
Melissa Tuttle, PIMCO
Gianluca Minieri, Pioneer Investments Management
Simon Steward, Capital Group
Plus more
Stream A: New Technologies: TCA, SOR & OMS/EMS
15:00 - 15:20 Discussion Panel continuedStream B: Next Generation Trading Strategies
15:00 - 15:20 Discussion Panel continuedStream C: Buy-Side Only Round Table Cafés
15:00 - 15:20 ROUNDTABLE CAFÉS continuedStream D: Leader Think-Tank
15:00 - 15:20 Head trader think tank continued15:20 - 16:00 Afternoon Coffee and Networking
Stream A: New Technologies: TCA, SOR & OMS/EMS
16:00 - 16:40 DISCUSSION PANEL: Smarter order routing- What are the current market capabilities and where does the responsibility lie?Taking greater control over your orders and being accountable for how they are routed, falls under new requirements from the FCA’s systemic review. These two key hedge funds discuss what technologies and processes need to be in place to ensure full compliance and improved execution.
» Overcoming challenges in order routing with the buys side and sell side and what current technologies are being developed to avoid confl ict of interests
» Developing your abilities to effectively allocate block trades in the market place
» The importance of time of trade in ensuring the trade at the right place and right time
» How can SOR provide the trader with real time information about where they are impacting their stock?
Julie Beecher
Independent ConsultantIndependent Consultant
Stream B: Next Generation Trading Strategies
16:00 - 16:40 DISCUSSION PANEL: How to define and quantify the toxicity of venues and its market impactAs trading environments become more complex, how can investment managers make sure trading is conducted in a cost-effi cient, non-confl icted manner? Discover what mechanisms are available to ensure effi ciency and speed in this increasingly confl icted market.
» The reality of a winning venue toxicity formula: Has it arrived?
» How to effectively measure and evaluate the effect of venue toxicity
» How much is really down to the venue on dark pool trading
» What needs to be done in the future to have more control over order routes from the buy side, sell side, regulators and venue perspectives?
Stream C: Developments in Trading Latency
16:00 - 16:40 DISCUSSION PANEL: The need for speed- Is it really needed in the current market?Is speed really needed in the current equity market? This session delves into what impact the quest for high speed trades has had on market liquidity. Walkaway with key takeaway strategies to help improve liquidity and market access.
» Discovering what really needs to be done to stop the race for speed and how has this really impacted the current market
» Evaluating how speed has reduced liquidity in the market through encouragement of ghost trades
» Implementing ways to increase transparency of trades via frequent batch auctions: How can these assist and how do they work in practice to increase liquidty?
Stream D
16:00 - 16:40 Exclusive Buy Side Heads of Trading drinks reception- invite onlyStream A: New Technologies: TCA, SOR & OMS/EMS
16:40 - 17:00 Using real time TCA for improved routing logic and execution venue analysisAs Head of Trading at one of the largest Nordic asset managers and with over 60 billion euro of AUM, Eirik is responsible for all equity trading globally. With a current focus on evaluating current broker relationships and establishing effective processes to best analyse
data generated, he explains how developing an in-house TCA tool can help trade-to-trade and venue analysis for more educated trade decisions.
» Evaluating the application for real time TCA on an increased basis to better monitor and fi nesse the trade
» Applications of TCA in dark pool moderation and deciphering market reaction to specifi c traders
» Success of assessing outliers with broker data and having more control on order routing and venue choice
» Automating the broker selection process dependent on post trade analysis to remove subjection from traders
Stream B: Next Generation Trading Strategies
16:40 - 17:00 The evolution of the sell side/buy side relationship for improved trading in small and mid capsPhilip is in charge of the Equity Broker Review process, the relationship with the sell-side and market structure related topics. With over 20 years experience in small and mid-cap equities, both on the sell-side and the buy-side, he is in a unique position to shed light on how these two parts of the market are currently evolving in small to mid cap trades.
» Identifying key information and tags that need to be reported and strategies to ensure compliance from the sell side: Broker review implications
» Evaluating touch points that need to be developed within organisations to drive better information exchange, improved trading and better use of capital
» Assessing high touch vs low touch technology and current applications
» Assessment processes for monitoring cost vs value in brokers
Stream C: Developments in Trading Latency
16:40 - 17:00 FIRE SIDE CHAT: Innovations in technology and how it can drive improvements in tradingThis dynamic interview with leading buy side organisation T.Rowe Price, delves into the evolving relationship between technology and trading. This session looks at how the buy side have been approaching new technology and strategy and what lessons could be learned from their successes and failures. The discussion will cover different approaches and technologies that are helping T Rowe gain a competitive edge and improving the trading desk’s service to internal and external clients.
» How can this work organisationally? What are the fi rst steps?
» Gaining the right information on what really needs to be improved and prioritised
» How to shift the mindset from short term to long term technology investments?
Lutz Kalthoff
Director – Head of European Cash Equity TradingAllianz Global Investors Europe GmbH
Stream D
16:40 - 17:00 Drinks Reception continued17:00 - 17:20 INTERVIEW with IEX: We need better referees- The role and responsibility of market centers
This is a do not miss session where Frank interviews the Chief Strategic Offi cer of the US dark pool IEX, Ronan Ryan, on the future developments that lies ahead. With extensive experience in the fi nancial services industry and networking infrastructure, Ronan discusses IEX’s efforts to restore trust ito the stock market, in a market where computerised HFT activity is still a concern for market rigging. This interviews delves into how they are going to improve their current platform and insight into what we can expect for 2015.
17:20 - 23:59 TradeTech Europe 2015 Cocktail Reception
As part of the formal conference you’re invited to join us on Tuesday 14th April, for our themed try our cocktail reception. This reception is open to all attendees, situated in the exhibition area. We hope you can join us at for this perfect opportunity to make new contacts and catch up with old friends.