tradetech europe 2011 brochure

14 Reasons Why Tradetech Is The Premier Global Trading Technology Event Of The Year:

1. Meet and network with over 650 of your customers: buy side heads of desk and senior traders

2. 120 carefully researched topics and sessions giving you need to know strategic information

2. Created for you by an industry advisory board4. No hidden agenda - organised by a team of professional conference

specialists5. Outstanding networking for you and your team - over 2000 senior industry

players from the entire trading value chain6. 11 years of excellence in providing incisive content, great networking and

need to know information7. Facilitating debate & discussion - giving you a chance to voice your opinion

and to put yourself on the inside track8. Fresh conference content designed to help you every year - we don’t repeat,

we find new need to know information for you9. New conference formats and networking opportunities for you and your team 10. Supported by the FSA & the EU - Europe’s most senior regulators use

TradeTech to test industry response11. Focusing on your key priorities – strategy, technology, market structure,

and regulation12. Supported by every tier 1 sell side bank 13. Keynote guest speakers including Baroness Eliza Manningham-Buller,

Former Head, MI5 and General Sir Mike Jackson (ret), formerly Chief Of The General Staff, UK MOD

14. All of your peers and competitors will be at TradeTech because it helps them to be the best in the industry - WILL YOU?

12 - 15 April, 2011 Excel Centre, London www.tradetecheurope.com2000+ participants, including

over 650 senior buy side!

Over 500 senior buy side already confirmed!

…..the one with the buy side…

Regulation, Liquidity & Best Execution in a High Frequency World

Phone: +44 (0)20 7368 9465 Email: [email protected] Website: www.tradetecheurope.com

Agenda Created For The Industry By The Industry Advisory Board

Chaired & Moderated By John Humphrys, Presenter & Broadcaster, BBC

4 2000 attendees4 650 buy side

4 200 buy side Heads of Desk4 130 speakers4 120 exhibitors

4 75 sessions4 20 countries represented4 20 hours of networking4 3 action packed days4 1 unique event

Principal Sponsors:Lead Sponsor: Organised by:

“TradeTech is the best trading event of the year... the ideal environment for the buy and sell side to get together”Sheena Kelman, Head of Trading, Martin Currie

Strategic Information Delivered To You From Over 120 Senior Industry Speakers, Including: Richard Lacaille, Chief Investment Officer,

State Street Global Advisors

Andrew Silverman, Managing Director, Morgan Stanley

Kevin Cronin, Global Head of Equity Trading, Invesco

Alexander Justham, Director of Markets, Financial Services Authority

Brian Mitchell, COO, Investment Division, Gartmore

Garth Ritchie, Global Head of Equities, Deutsche Bank

Vincent Moojer, Investment Manager, Head of Equities Trading, PGGM

Huw Gronow, Head Trader, Principal Global Investors

Neil Joseph, Vice President, Equity Trading, JP Morgan Asset Management

Paul Donovan, Managing Director and Global Economist, UBS

Blockbuster Line-Up Of Guest Speakers!

Baroness Eliza Manningham- Buller, Former Head, MI5

General Sir Mike Jackson (ret), formerly Chief Of The General Staff, UK MOD

Richard Peterson, Fund Manager, Psychiatrist & Neuroeconomics Expert, MarketPsych.com

Joe Navarro, Former FBI Agent, World Specialist On Non-Verbal Communication

Roger Bootle, Managing Director, Capital Economics

The MiFID Debate The FSA Wants To Hear From You!

Attend TradeTech 2011 to hear the most influential industry players and analysts assess MiFID 2. Find out and debate what worked, what didn’t and how MiFID 2 is going to improve the trading landscape. Or will it make it even more difficult? Learn from Alexander Justham and his colleagues at the Financial Services Authority about the latest plans for regulating the securities trading sector. Join roundtable debates to help shape future regulation! The FSA will be hosting a series of roundtables specifically to hear your feedback, suggestions, concerns and ideas!

Trillions Have Been Lost, Everything Is At Stake!

Roger Bootle, Managing Director of Capital Economics is known throughout the financial markets for his analysis of the economic environment and for his controversial and innovative ideas. In his latest book he argues that in large measure, the underlying cause of the financial crisis was the result of an idea that markets work, and that governments do not: “Despite the trillions of dollars lost, and despite the worries of millions of people, more than this — much, much more — is at stake. The crisis has delivered the killer blow to an idea that has underpinned the structure of society, framed the political debate, and moulded international relations for decades.”

Join Roger Bootle as he reflects on the nature of capitalism, latest developments in the economy and their direct impact on you, your business and the future of this industry.

Who Lost Those Trillions? Do Markets Really Work?

Has High Frequency Trading Turned Markets Into A Casino?

High Frequency Trades account for almost 40% of all trading in Europe. The figure is even higher in the US. The mystique and lack of clarity about HFT strategies means that a lot of trading desks are worried about being gamed on their trades. Join TradeTech 2011 High Frequency Trading focus day on April 12th to find out directly from high frequency trading firms about their strategies and trading practices. Get insight into the real scientific statistics about HFT and its impacts on the market. Join a debate on the value and impact of HFT on the securities trading landscape.

Your desk may be at risk from interacting with high frequency liquidity, do you know how to protect your trades? Find Out The Truth. see page 6 for details of the agenda.

Are You Managing To Outsmart The Person On The Other Side Of The Trade?

Baroness Eliza Manningham-Buller, Former Head, MI5 is joining TradeTech 2011 to give you some secrets and ideas for making decisions in challenging times and for winning in every transaction that you undertake.

Dame Manningham-Buller has been privy to some of the country’s most carefully guarded secrets and held the lives of spies and double agents in her hands. Since taking over the MI5 reins, her working life has been dominated by the threat from al-Qaeda. She is an expert at making effective decisions, being an outstanding leader, outsmarting her counterparties and winning in difficult and risky circumstances.

Bringing You The Buzz of the World’s Largest Trading Event, PLUS the Intimacy of Highly Focussed, Niche Conferences

This year TradeTech brings you a series of niche, highly focussed events within the main conference. Each event is limited to 100 participants and offers highly focussed sessions that allow for greater depth of learning and debate

Designed primarily for buy side heads of desk, some of these groups will be closed door, and others will be open to the whole industry. Topics include:• dealing with the fund manager • cross asset trading • regulatory compliance • consolidated tape

Enormously popular in 2010, the regulatory think tank has been expanded into a mini-conference. Led by a panel of Europe-wide regulators in the wake of MiFID II, It is a unique chance to petition and give feedback to the regulators on:• MiFID II • Consolidated tape • Centralised clearing• High frequency trading

Derivatives trading is set to take centre stage and plays a starring role in MiFID II. This event tackles the twin challenges of regulation and technology to give attendees a blueprint for profitable, efficient electronic trading:• standardisation of derivatives contracts • opportunities and challenges for electronic trading • best of breed technology• tapping into all sources of liquidity

TradeTech - spread across 3 theatres

Trading Technology

This mini-event is designed to help traders and technologists deal with the most pressing, and expensive challenges such as:• latency reduction for high frequency trading • customising algos• spiralling data volumes

Liquidity

This set of content deals specifically with the fall out from MiFID II to allow you to resolve some of the most important issues facing the equities trading industry today:• sourcing the best liquidity at the right price • the future use for dark pools • market structure and the execution landscape

Trading Strategy and Best Execution

These sessions delve into traditional TradeTech content and are designed to help you devise your trading strategy and priorities for the year ahead. • high frequency trading • the need for a consolidated tape • establishing a multi asset trading capability • best practice broker selection

“TradeTech is the best trading event of the year... the ideal environment for the buy and sell side to get together”Sheena Kelman, Head of Trading, Martin Currie

“TradeTech is the must attend trading technology event of the year”Vincent Moojer, Investment Manager, Head of Equities Trading, PGGM

“Top trading technology event to attend”Dave Cliff, Director UK Large-Scale Complex IT Systems Initiative, University of Bristol

“An excellent opportunity to meet with both my buyside and sellside clients. WBR do a wonderful job of bringing together decision makers from all aspects of our industry.” Jack Vensel, Managing Director, Global Head of Wholesale Services, Citi

“TradeTech – a must attend!”Peter van Kleef, Principal, Lakeview Capital Market Services GmbH

“TradeTech is ideal for the buy and sell side to get together” Guillaume Lemarchand,Global Head, Global Execution Services, BNP Paribas

“if you work in trading, whether it is on the sell side, buy side or have a solution - TradeTech is on the money for networking, benchmarking, educating and lobbying the regulators. I wouldn’t miss it for the world” Christopher D. Clack, Chairman, Financial Stability Research Forum, UCL

“TradeTech - No gimmicks here, just real substance... the ideal environment for the buy and sell side to network”Juan Carlos Nieto, Founding Partner, Index Intelligence

“ … a must attend for me…” Michael J. Levas, Founder & Chief Investment Officer, Olympian Capital Management LLC

“TradeTech - the great opportunity for the buy and sell side to network”Andrew Morgan, Head of Autobahn Equity Europe, Deutsche Bank

TradeTech is the largest and most senior meeting place for the equity and derivatives trading community: 2000+ buy side traders, brokers, trading venues, regulators, industry experts, economists and fund managers. Created by the industry advisory board, TradeTech 2011 gives you true value and helps you grow in your job, ensuring top results and great performance of every member of your team.

TradeTech Floorplan 2011

= Sold

= Available

For information on how you can take advantage of the promotion and marketing opportunities on this exhibition floor please ring Shomik Banerjee on +44(0)20-7368-9818 or email him on [email protected]

…..the one with the buy side…

April 13th, 2011

StrEaM 1 StrEaM 2 StrEaM 3

7:30 Coffee & registration

8:30 Chair’s Welcome address Andrew Silverman, Managing Director, Morgan Stanley

Andrew Silverman is a Wall Street veteran with over 27 years of experience in cash, algorithmic and electronic trading. He is currently Managing Director and Global Co-head of Morgan Stanley Electronic Trading (MSET). In this role, Andrew oversees sales and distribution for MSET globally. With his experience and expertise Andrew is an ideal chairman for this keynote opening session.

9:00 What Opportunities and Challenges Will We Face In the Short, Medium and Long term and What Can We Do about It?

Senior Executive From Barclays Capital

9:30 assessing Key Factors Shaping the Future Of the Equities trading Industry: adjusting to the New Normal

Kevin Cronin, Global Head of Equity Trading, InvescoEvery broker, buy side trader and exchange agrees on one thing – the industry is changing direction and is readjusting to the “new normal” of the post crisis environment. What are the factors shaping the trading strategies of the buy side desks? Will they change their core practices and requirements? Join this keynote address to hear from one of the most influential heads of trading in the industry.

10:00 Outlining the Current & Future Strategy For Securities Markets regulation

Alexander Justham, Director of Markets, Financial Services AuthorityAs this agenda is going to press, the first preview of MiFID 2 is coming from the EU. The entire industry awaits its verdict. Join this

talk to hear what the FSA is planning for you and for your customers and partners. Find out how MiFID 2 is likely to be developing and what its real impact is on your business.

10:30 Networking Morning Coffee

11:00 Keynote Guest address Garth Ritchie, Global Head of Equities, Deutsche Bank

11:30 Outlook For the Economy and Its Impact On Financial Markets

Roger Bottle, Managing Director, Capital EconomicsOne of the City’s best-known economists, Roger Bootle specialises in macroeconomics and the economics of the property market. He was formerly Group Chief Economist of HSBC and, under the previous Conservative government, he was appointed one of the Chancellor’s panel of Independent Economic Advisers, the so-called “Wise Men”.

Get Roger’s insight on what the economy is likely to do in the near future and how it will impact everything from your business, your trading desk to the price of your house.

12:15 Panel Discussion: How Will Effective and Efficient regulation Drive Change Within the Industry - Challenges and Opportunities

Brian Mitchell, COO, Investment Division, Gartmore Robert Boardman, Managing Director, ITG Tim Rowe, Manager, Trading Platforms and Settlement

Policy, Financial Services Authority Maria-Teresa Fabregas-Fernandez, DG Markt, Securities

Markets, EU Karel Lanoo, Chief Executive Officer, Centre For

European Policy Studies Lisa Dallmer, COO European Cash Markets, NYSE Euronext

14:30 assessing the real risk Of a Flash Crash & How You Could Prepare For It

Robin Griffiths, Strategist, Fund Manager, Cazenove Capital Management

At present most equity markets are rising. But they are of course in the strong season of the year (late October to late May). Robin Griffiths will examine the probability of another Flash Crash happening to us and how

you could prepare for it.

14:30 Customising Your algos to achieve Maximum Performance On Each trade

Nick Nielsen, Head of Trading, Marshall Wace This case study will assess how you can use multiple algos to execute one trade. Every stage of the trade can have its own algo! Want to know

more, join this talk.

14:30 Evaluating Key Criteria For Broker review & Selection: How Is the Changing trading Landscape

Impacting Your Broker Management Strategies? Huw Gronow, Head Trader, Principal Global Investors

One of the main concerns of every buy side trader is the quality and price of their broker. Your broker review process will directly impact the overall performance of your desk, the profit margins and the final

bonus structure. If you are a broker, then finding out how your customers appraise you is imperative! Join this case study to hear one view.

14:30 Changing the Way the Markets Work & the Way they are regulated: What Could & Needs to Be Done?

Ruben Lee, CEO, Oxford Finance GroupThe efficiency, safety, and soundness of financial markets depend on

the operation of core infrastructure--exchanges, central counter-parties, and central securities depositories. How these institutions are governed critically affects their performance. Yet, despite their importance, there is little certainty, still less a global consensus, about their governance.

Join this presentation for some innovative ideas and a good debate.

14:30 assessing How trading Strategies Impact Investment Style & Vice Versa – Dealing With

Different Fund Managers & Investment StrategiesChristopher Rice, Senior Managing Director, State Street

Global AdvisorsYour internal customers expect best execution and prices for each trade. Some fund managers get heavily involved in setting the trading strategy,

some leave all up to you. Join this talk to find out what impact trading has on fund managers and how fund managers end up influencing your trading patterns. This case study is bound to produce new ideas for gaining even

better control of each trade.

14:30 Keynote address: Exploiting the Potential Of the Derivatives renaissance In Order to trade

Innovatively Whilst Generating alphaHear from a prominent Head of equity derivatives about the big

derivatives revival, where the market is heading, as well as thoroughly understanding the challenges that arise from increased regulatory

oversight and clearing transparency.Erik Böss, Global Head of Derivatives,

RCM Allianz Global Investors

15:00 Networking & Coffee In the ExhibitionJoin hundreds of solution providers, partners and peers for some of the best networking in the world of trading and trading technologies.

Thousands of buy side traders, sell side brokers, exchanges and technology providers will be expecting to see you at TradeTech 2011.

15:00 Unconventional Perspective: How Is Low Latency Likely to Impact Your Business, Your trading Decisions

& the Market Landscape?The demand for low latency services has soared in the last 12 months

with premium routes knocking microseconds of each other to gain an advantage. This presentation looks at what’s behind low latency, assesses the sustainability of the model and trends forward a world

where the inefficiency of geography, time to decision and processing are optimised. The presentation will also seek to draw parallels from other

trading markets and predict likely future market trajectoriesMatthew Finnie, CTO, Interoute



15:15 Panel Discussion: repositioning Your trading Strategy to adjust to MiFID 2: Products, relationships

& Partnership PositioningChristian Katz, CEO, SIX Swiss Exchange

Rainer Riess, Managing Director, Deutsche Boerse

This debate is designed to give you an opportunity to discuss and debate the most pressing issues and challenges MiFID 2 presents to your business. The discussion will be structured to give you time and

opportunity to voice your opinion and ask questions.

15:00 Panel Discussion: the role & Impact Of Portfolio algos On Your trading Strategy

Lee Bray, Senior Trader, JP Morgan Asset ManagementNick Nielsen, Head of Trading, Marshall Wace

Matthew Rowley, Head of Quantitative Trading US, CA Cheuvreux

Minimising the risks involved in portfolio trading is a fast-evolving art. The buy-side desk structure can influence the way the risk of a portfolio trade is managed. If a rebalance is split up according to trader’s responsibilities, there can be significant unintended

consequences. Other complexities of the trading process such as cash management or even shortterm alpha can create unexpected results.

Portfolio managers often don’t understand why their estimated trading costs bear no resemblance to realised trading costs. Join this debate

to hear the latest thinking on portfolio trading. Get armed with the successful strategies to take to your desk.

15:00 regulation Panel: Getting to Grips With the Intricacies and repercussions Of Impending

Derivatives regulation So that the rules Give You Opportunities Instead of Challenges

Find out from the regulators exactly what is in the regulatory pipeline and why. How do they expect the markets to respond? What impact do they think increased oversight will have on the derivatives trading boom? Make sure you take this chance to give them your feedback

and grill them on what they are doing for you to ensure you always will trade equity derivatives efficiently.

Moderated by: Anthony Belchambers, Chief Executive Officer, Futures

and Options Association (FOA)María Teresa Fábregas Fernández, Deputy Head, Internal

Market and Services DG, European CommissionDavid Bailey, Manager, OTC Derivatives & Post Trade

Policy, Financial Services AuthorityDiego Valiante, Research Fellow, European Capital

Markets Institute

15:45 Panel Discussion: Practical Ways to Evaluate the Quality Of Liquidity In Different Venues

Toby Bayliss, Co-Head of Trading, Europe, Sanford C. Bernstein

Sylvia Carrasco, Investment Management Partner, Alion Capital

Matthew Collis, Head of Trading, Brewin DolphinGavin Little Gill, Head of Asset Management Strategy,

Linedata Your boss, your fund manager and your investor don’t want you to

trade with toxic or unknown liquidity. Are you sure you are evaluating the liquidity in different venues correctly and efficiently? What are your peers from other buy side firms doing to avoid toxic and non favourable

liquidity? Join this panel to find out.



15:30 Presentation title to Be ConfirmedRob Passarella, VP and MD of Institutional Markets,

Dow Jones



15:30 Panel Discussion: New approaches to Moving Your Desk towards Cross-asset trading: Practical

realities & rOIVincent Moojer, Investment Manager, Head of Equities

Trading, PGGMChristoph B. Mast, Managing Director Global Head of

Trading, RCM, Allianz Global InvestorsStuart Grant, Financial Services Business Development

Manager, Sybase Philippe Buhannic, CEO, TradingScreen

Martin Henning, Head of Trading, Kapitalanlage-Gesellschaft, BNY Mellon Service

Cross asset trading is finally becoming mainstream. Everyone wants to hedge for currency, while also trading fixed income on an equities

trading desk. Are you implementing the most successful ideas for your multi-asset trading. Hear from the pioneers. They have been trading on a multi-asset basis for a while. They know the algos, the TCA and the best execution tricks you need on your desk to achieve top results.



16:00 Examining the New types of Smart Order routers – What Can they Do For You & How Can You

Best Keep Control Of their Performance?Victor Lebreton, Managing Director, Quant Hedge Juan

Carlos Nieto, Founding Partner, Index IntelligenceBradley W. Duke, Managing Director,

Knight Capital EuropeWhen the time comes to spend more money on smart order routers you will be reluctant to invest without seeing clear benefits, results and advantages. This panel discussion is looking into the future of

SORs. It will debate the different new approaches to building and using SORs. Find out the latest and most innovative strategies and ideas for

SORs here.

16:15 Battle Of the Platforms Debate: Best Practice Derivatives Venue Selection For the Buy Side

Introducing CompetitionNatan Tiefenbrun, Commercial Director,

Turquoise-London Stock Exchange GroupFind out how already established and new equity derivatives platforms are distinguishing themselves and assess which one is best in class for you to deliver value, increase efficiency, improve liquidity, bring standardisation as well as transparency for achieving best execution.

Followed by the panel discussionNatan Tiefenbrun, Commercial Director,

Turquoise-London Stock Exchange Group

16:15 Panel: Giving the Buy Side Exactly What they Need through a Customised approach to Execution

Brian Mitchell, COO, Investment Division, Gartmore Rafael Molinero, CEO, Molinero Capital Management LLPRob Shapiro, Global Head Of Trading And Execution

Consulting, Bloomberg TradebookIan Domowitz, Managing Director – Global Head of

Analytical Products & Research, Investment Technology Group

Customising every buy side trade is quickly gaining momentum among both buy side and the brokers. This panel is designed to discuss the

exact requirements of the buy side and how to best take advantage of the different options for customisation.

16:15 Panel Discussion: Measuring the Health Of Your trading Infrastructure

Rob Lane, Markets Manager Electronic Trading, Interactive Data

Visit www.tradetecheurope.com for more information

16:30 Panel Discussion: Evaluating the Opportunity For trading In Emerging Markets – Focus On Fast &

Efficient Market accessAdam Majerowski, Head Dealer, BZ WBK AIB Investment

Fund Corporation Senior Executive, OtkritieRoman Lokhov, CEO, Otkritie Securities Limited

Zina Psiola, Head of Emerging Markets, Clariden Leu The risk is probably higher, but the potential returns are also greater. This panel discussion will assemble experts to give you insight and successful strategies for accessing and trading emerging markets.

16:00 trading Strategies: Collaboration, Complexity, & Connectivity

Jonathan Morton, VP of Product Marketing, IPCToday’s regulatory and competitive pressures are driving the need for increased collaboration in the high touch trading arena and a need for low latency, reliable connectivity on the low touch trading side. This session will provide an overview of the evaluation criteria that firms

should employ when selecting a financial services-focused connectivity vendor.



17:00 Fragmentation Panel Discussion: Will there Be Market Fragmentation For trading and Clearing

Venues In Derivatives and How Can You Source the Best Liquidity at the Lowest Cost at all times

Stimulated by regulation and clearing requirements, market structure is evolving very quickly. Hear about how derivative platforms are taking shape, where they are coming from. What does it mean for the market

and which successful stories they can bring you which will benefit your trading desk?

Terence Nahar, Investment Director, Investment Solutions Team, Scottish Widows Investment Partnership (SWIP)

Mike Chadney, CEO, CityOddsBertrand d’Anselme, Head of Listed Derivatives Clearing

and Execution, BNP Paribas


Jonathan Morton, VP of Product Marketing, IPC Today’s regulatory and competitive pressures are driving the need for increased collaboration in the high touch trading arena and a need for low latency, reliable connectivity on the low touch trading side. This session will provide an overview of the evaluation criteria that firms


16:40 Overview Of MiFID: What Worked, What Didn’t & taking It to the Next Step

Karel Lanoo, Chief Executive Officer, Centre For European Policy Studies

Join this presentation to hear the view from CEPS on MiFID. By the time this conference takes place MiFID 2 will be in full preparation and implementation stage. Find out what worked and what still needs fixing

in MiFID.

16:30 adapting Your trading Desk Strategies to Lower trading Volumes: adjusting

to the “New Normal”Matthew Collis, Head of Trading, Brewin Dolphin

Stephane Rougier, Global Structured Solutions Director, Global Investment Solutions Aviva Investors

Brian Schwieger, Head of EMEA Algorithmic Trading, BofA Merrill Lynch

Charles Henderson, Head of Operations & Dealing, Invesco Perpetual

Jatin Suryawanshi, Head of Global Quant Strategies, Jefferies International

17:00 Debating the Future Of the Buy/Sell Side relationship In SOr technology

Huw Gronow, Head Trader, Principal Global InvestorsJoe Wald, Managing Director, Knight Equity Markets

Simo Puhakka, Head of Trading, Pohjola Asset Management

Mark Goodman, Head of Electronic Services – Europe, Société Générale

Are you sure your SOR is doing exactly what it says on the box? Why can’t you have more control over your trades? Join this discussion and

find out how you can take even better control.

17:00 Panel Discussion: Business Models For Best Execution: How to Win In the Global Market Place

While remaining a Successful Local PlayerModerated by: Sungard

Visit www.tradetecheurope.com for more information17:00 Networking & Coffee In the Exhibition

Join hundreds of solution providers, partners and peers for some of the best networking in the world of trading and trading technologies.


17:00 Panel Discussion: Debating the Clearing Issue In the Current trading Landscape: Making It

Profitable & Mitigating riskClearing is one of the most costly and inefficient parts of the trading

processes. In addition, you have major risk management issues to deal with. Join this panel to discuss how clearing could be made easier,

more efficient and more profitable for all parties involved.Sean Taylor, Director, Financial Intermediaries, Deutsche

BankNikki Beatie, Head, The Market Structure Practice

Senior executive, NASDAQ OMXDiana Chan, CEO, EuroCCP

17:00 Buy Side Only roundtable Discussions & Debates

A series of buy side only roundtable discussions and debates designed to give buy side delegates a chance to network, exchange

strategies and ideas in a closed door environment.This is a unique opportunity for you! Find out if your buy side peers

are facing the same challenges as you are. Learn what strategies they are using to trade in the current fragmented environment.

17:35 Case Study: risk Management In Derivatives trading and How to Improve Your risk Management

Systems to Provide You Guidance On the Most Sound System

Discover useful methods for measuring and managing the major risks your desk is facing and get ready for regulatory changes

· Demonstrating a state of the art risk management capability satisfy the demands of clients and regulators

· As integrated risks will be a higher priority in tomorrow’s unpredictable financial environment, how can you improve your risk

management systems and OTC derivatives processing?Yury Dubrovsky, Chief Risk Officer, Lazard Asset

Management



17:30 Panel: Examining How algos On Chip technology & Low Latency Will affect Your trading Strategy &

Improve Your trading resultsDaniel Sjoberg, VP Strategy, Business Development &

Marketing, Level 3 Peter Duffy, CTO, Sumerian

John Greenan, Global Multi-Asset Connectivity Manager, BNP Paribas Fortis Investments

Software on chip technology used to be an attribute of sophisticated fire arms and targeting technology. It is now becoming a reality in the

capital markets. You may be good at trading, but it you latency is not up to it, then your competitors will outsmart you every time. Find out what

the future holds.

17:20 DEBatE: technology & High Frequency trading Will Normalise the Markets

Nikki Beatie, Head, The Market Structure Practice Ken Yeadon, Managing Partner, Thematic Capital

Michael Levas, Founder and Chief Investment Officer , Olympian Capital Management

Have you ever been to an Oxford Union style debate? Would you like to give your views and vote on the motion at the end of the debate? What is

your feeling about HFT? Will it kill or make the market of the future?

18:00 Guest Keynote address: Making Decisions, tackling Challenges & Dealing With Your Boss General Sir Mike Jackson (ret), formerly Chief Of The General Staff, UK MODThree hundred Russian troops in a gesture of solidarity with the Serbs seized control of the airfield. General Clark ordered General Jackson to block the runway to prevent Russian reinforcement. Jackson squared up to him with the famous line: "Sir, I'm not going to start World War Three for you." Sounds interesting? Join this keynote address to find out more.

19:00 tradetech 2011 Drinks reception

Phone: +44 (0)20 7368 9465 Email: [email protected] Website: www.tradetecheurope.comP4

April 13th, 2011 April 14th, 2011

David Lester, CEO, Turquoise, Director, Info Services, London Stock Exchange

Denzil Jenkins, Director of Regulation, Chi-X EuropeThis panel discussion is without a doubt the most popular and controversial on this year’s agenda. Everyone has an opinion about MiFID. Everyone has concerns about MiFID. Everyone wants answers to how MiFID will shape the industry and their business. Join this panel of top level industry players as they gaze into the MiFID crystal ball. Give your feedback, ask direct questions and get honest answers from the industry movers and shakers.

13:00 Networking Lunch For Delegates & Speakers

14:30 assessing the real risk Of a Flash Crash & How You Could Prepare For It

Robin Griffiths, Strategist, Fund Manager, Cazenove Capital Management

At present most equity markets are rising. But they are of course in the strong season of the year (late October to late May). Robin Griffiths will examine the probability of another Flash Crash happening to us and how

you could prepare for it.

14:30 Customising Your algos to achieve Maximum Performance On Each trade

Nick Nielsen, Head of Trading, Marshall Wace This case study will assess how you can use multiple algos to execute one trade. Every stage of the trade can have its own algo! Want to know

more, join this talk.

14:30 Evaluating Key Criteria For Broker review & Selection: How Is the Changing trading Landscape

Impacting Your Broker Management Strategies? Huw Gronow, Head Trader, Principal Global Investors

One of the main concerns of every buy side trader is the quality and price of their broker. Your broker review process will directly impact the overall performance of your desk, the profit margins and the final

bonus structure. If you are a broker, then finding out how your customers appraise you is imperative! Join this case study to hear one view.

14:30 Changing the Way the Markets Work & the Way they are regulated: What Could & Needs to Be Done?

Ruben Lee, CEO, Oxford Finance GroupThe efficiency, safety, and soundness of financial markets depend on

the operation of core infrastructure--exchanges, central counter-parties, and central securities depositories. How these institutions are governed critically affects their performance. Yet, despite their importance, there is little certainty, still less a global consensus, about their governance.

Join this presentation for some innovative ideas and a good debate.

14:30 assessing How trading Strategies Impact Investment Style & Vice Versa – Dealing With

Different Fund Managers & Investment StrategiesChristopher Rice, Senior Managing Director, State Street

Global AdvisorsYour internal customers expect best execution and prices for each trade. Some fund managers get heavily involved in setting the trading strategy,

some leave all up to you. Join this talk to find out what impact trading has on fund managers and how fund managers end up influencing your trading patterns. This case study is bound to produce new ideas for gaining even

better control of each trade.

14:30 Keynote address: Exploiting the Potential Of the Derivatives renaissance In Order to trade

Innovatively Whilst Generating alphaHear from a prominent Head of equity derivatives about the big

derivatives revival, where the market is heading, as well as thoroughly understanding the challenges that arise from increased regulatory

oversight and clearing transparency.Erik Böss, Global Head of Derivatives,

RCM Allianz Global Investors



15:00 Unconventional Perspective: How Is Low Latency Likely to Impact Your Business, Your trading Decisions

& the Market Landscape?The demand for low latency services has soared in the last 12 months

with premium routes knocking microseconds of each other to gain an advantage. This presentation looks at what’s behind low latency, assesses the sustainability of the model and trends forward a world

where the inefficiency of geography, time to decision and processing are optimised. The presentation will also seek to draw parallels from other

trading markets and predict likely future market trajectoriesMatthew Finnie, CTO, Interoute



15:15 Panel Discussion: repositioning Your trading Strategy to adjust to MiFID 2: Products, relationships

& Partnership PositioningChristian Katz, CEO, SIX Swiss Exchange

Rainer Riess, Managing Director, Deutsche Boerse

This debate is designed to give you an opportunity to discuss and debate the most pressing issues and challenges MiFID 2 presents to your business. The discussion will be structured to give you time and

opportunity to voice your opinion and ask questions.

15:00 Panel Discussion: the role & Impact Of Portfolio algos On Your trading Strategy

Lee Bray, Senior Trader, JP Morgan Asset ManagementNick Nielsen, Head of Trading, Marshall Wace

Matthew Rowley, Head of Quantitative Trading US, CA Cheuvreux

Minimising the risks involved in portfolio trading is a fast-evolving art. The buy-side desk structure can influence the way the risk of a portfolio trade is managed. If a rebalance is split up according to trader’s responsibilities, there can be significant unintended

consequences. Other complexities of the trading process such as cash management or even shortterm alpha can create unexpected results.

Portfolio managers often don’t understand why their estimated trading costs bear no resemblance to realised trading costs. Join this debate

to hear the latest thinking on portfolio trading. Get armed with the successful strategies to take to your desk.

15:00 regulation Panel: Getting to Grips With the Intricacies and repercussions Of Impending

Derivatives regulation So that the rules Give You Opportunities Instead of Challenges

Find out from the regulators exactly what is in the regulatory pipeline and why. How do they expect the markets to respond? What impact do they think increased oversight will have on the derivatives trading boom? Make sure you take this chance to give them your feedback

and grill them on what they are doing for you to ensure you always will trade equity derivatives efficiently.

Moderated by: Anthony Belchambers, Chief Executive Officer, Futures

and Options Association (FOA)María Teresa Fábregas Fernández, Deputy Head, Internal

Market and Services DG, European CommissionDavid Bailey, Manager, OTC Derivatives & Post Trade

Policy, Financial Services AuthorityDiego Valiante, Research Fellow, European Capital

Markets Institute

15:45 Panel Discussion: Practical Ways to Evaluate the Quality Of Liquidity In Different Venues

Toby Bayliss, Co-Head of Trading, Europe, Sanford C. Bernstein


Matthew Collis, Head of Trading, Brewin DolphinGavin Little Gill, Head of Asset Management Strategy,

Linedata Your boss, your fund manager and your investor don’t want you to

trade with toxic or unknown liquidity. Are you sure you are evaluating the liquidity in different venues correctly and efficiently? What are your peers from other buy side firms doing to avoid toxic and non favourable

liquidity? Join this panel to find out.



15:30 Presentation title to Be ConfirmedRob Passarella, VP and MD of Institutional Markets,

Dow Jones



15:30 Panel Discussion: New approaches to Moving Your Desk towards Cross-asset trading: Practical

realities & rOIVincent Moojer, Investment Manager, Head of Equities

Trading, PGGMChristoph B. Mast, Managing Director Global Head of

Trading, RCM, Allianz Global InvestorsStuart Grant, Financial Services Business Development

Manager, Sybase Philippe Buhannic, CEO, TradingScreen

Martin Henning, Head of Trading, Kapitalanlage-Gesellschaft, BNY Mellon Service

Cross asset trading is finally becoming mainstream. Everyone wants to hedge for currency, while also trading fixed income on an equities

trading desk. Are you implementing the most successful ideas for your multi-asset trading. Hear from the pioneers. They have been trading on a multi-asset basis for a while. They know the algos, the TCA and the best execution tricks you need on your desk to achieve top results.



16:00 Examining the New types of Smart Order routers – What Can they Do For You & How Can You

Best Keep Control Of their Performance?Victor Lebreton, Managing Director, Quant Hedge Juan

Carlos Nieto, Founding Partner, Index IntelligenceBradley W. Duke, Managing Director,

Knight Capital EuropeWhen the time comes to spend more money on smart order routers you will be reluctant to invest without seeing clear benefits, results and advantages. This panel discussion is looking into the future of

SORs. It will debate the different new approaches to building and using SORs. Find out the latest and most innovative strategies and ideas for

SORs here.

16:15 Battle Of the Platforms Debate: Best Practice Derivatives Venue Selection For the Buy Side

Introducing CompetitionNatan Tiefenbrun, Commercial Director,

Turquoise-London Stock Exchange GroupFind out how already established and new equity derivatives platforms are distinguishing themselves and assess which one is best in class for you to deliver value, increase efficiency, improve liquidity, bring standardisation as well as transparency for achieving best execution.

Followed by the panel discussionNatan Tiefenbrun, Commercial Director,

Turquoise-London Stock Exchange Group

16:15 Panel: Giving the Buy Side Exactly What they Need through a Customised approach to Execution

Brian Mitchell, COO, Investment Division, Gartmore Rafael Molinero, CEO, Molinero Capital Management LLPRob Shapiro, Global Head Of Trading And Execution

Consulting, Bloomberg TradebookIan Domowitz, Managing Director – Global Head of

Analytical Products & Research, Investment Technology Group

Customising every buy side trade is quickly gaining momentum among both buy side and the brokers. This panel is designed to discuss the

exact requirements of the buy side and how to best take advantage of the different options for customisation.

16:15 Panel Discussion: Measuring the Health Of Your trading Infrastructure

Rob Lane, Markets Manager Electronic Trading, Interactive Data

Visit www.tradetecheurope.com for more information

16:30 Panel Discussion: Evaluating the Opportunity For trading In Emerging Markets – Focus On Fast &

Efficient Market accessAdam Majerowski, Head Dealer, BZ WBK AIB Investment

Fund Corporation Senior Executive, OtkritieRoman Lokhov, CEO, Otkritie Securities Limited

Zina Psiola, Head of Emerging Markets, Clariden Leu The risk is probably higher, but the potential returns are also greater. This panel discussion will assemble experts to give you insight and successful strategies for accessing and trading emerging markets.


Jonathan Morton, VP of Product Marketing, IPCToday’s regulatory and competitive pressures are driving the need for increased collaboration in the high touch trading arena and a need for low latency, reliable connectivity on the low touch trading side. This session will provide an overview of the evaluation criteria that firms




17:00 Fragmentation Panel Discussion: Will there Be Market Fragmentation For trading and Clearing

Venues In Derivatives and How Can You Source the Best Liquidity at the Lowest Cost at all times

Stimulated by regulation and clearing requirements, market structure is evolving very quickly. Hear about how derivative platforms are taking shape, where they are coming from. What does it mean for the market

and which successful stories they can bring you which will benefit your trading desk?

Terence Nahar, Investment Director, Investment Solutions Team, Scottish Widows Investment Partnership (SWIP)

Mike Chadney, CEO, CityOddsBertrand d’Anselme, Head of Listed Derivatives Clearing

and Execution, BNP Paribas


Jonathan Morton, VP of Product Marketing, IPC Today’s regulatory and competitive pressures are driving the need for increased collaboration in the high touch trading arena and a need for low latency, reliable connectivity on the low touch trading side. This session will provide an overview of the evaluation criteria that firms


16:40 Overview Of MiFID: What Worked, What Didn’t & taking It to the Next Step

Karel Lanoo, Chief Executive Officer, Centre For European Policy Studies

Join this presentation to hear the view from CEPS on MiFID. By the time this conference takes place MiFID 2 will be in full preparation and implementation stage. Find out what worked and what still needs fixing

in MiFID.

16:30 adapting Your trading Desk Strategies to Lower trading Volumes: adjusting

to the “New Normal”Matthew Collis, Head of Trading, Brewin Dolphin

Stephane Rougier, Global Structured Solutions Director, Global Investment Solutions Aviva Investors

Brian Schwieger, Head of EMEA Algorithmic Trading, BofA Merrill Lynch

Charles Henderson, Head of Operations & Dealing, Invesco Perpetual

Jatin Suryawanshi, Head of Global Quant Strategies, Jefferies International

17:00 Debating the Future Of the Buy/Sell Side relationship In SOr technology

Huw Gronow, Head Trader, Principal Global InvestorsJoe Wald, Managing Director, Knight Equity Markets

Simo Puhakka, Head of Trading, Pohjola Asset Management

Mark Goodman, Head of Electronic Services – Europe, Société Générale

Are you sure your SOR is doing exactly what it says on the box? Why can’t you have more control over your trades? Join this discussion and

find out how you can take even better control.

17:00 Panel Discussion: Business Models For Best Execution: How to Win In the Global Market Place

While remaining a Successful Local PlayerModerated by: Sungard

Visit www.tradetecheurope.com for more information17:00 Networking & Coffee In the Exhibition

Join hundreds of solution providers, partners and peers for some of the best networking in the world of trading and trading technologies.


17:00 Panel Discussion: Debating the Clearing Issue In the Current trading Landscape: Making It

Profitable & Mitigating riskClearing is one of the most costly and inefficient parts of the trading

processes. In addition, you have major risk management issues to deal with. Join this panel to discuss how clearing could be made easier,

more efficient and more profitable for all parties involved.Sean Taylor, Director, Financial Intermediaries, Deutsche

BankNikki Beatie, Head, The Market Structure Practice

Senior executive, NASDAQ OMXDiana Chan, CEO, EuroCCP

17:00 Buy Side Only roundtable Discussions & Debates

A series of buy side only roundtable discussions and debates designed to give buy side delegates a chance to network, exchange

strategies and ideas in a closed door environment.This is a unique opportunity for you! Find out if your buy side peers

are facing the same challenges as you are. Learn what strategies they are using to trade in the current fragmented environment.

17:35 Case Study: risk Management In Derivatives trading and How to Improve Your risk Management

Systems to Provide You Guidance On the Most Sound System

Discover useful methods for measuring and managing the major risks your desk is facing and get ready for regulatory changes

· Demonstrating a state of the art risk management capability satisfy the demands of clients and regulators

· As integrated risks will be a higher priority in tomorrow’s unpredictable financial environment, how can you improve your risk

management systems and OTC derivatives processing?Yury Dubrovsky, Chief Risk Officer, Lazard Asset

Management



17:30 Panel: Examining How algos On Chip technology & Low Latency Will affect Your trading Strategy &

Improve Your trading resultsDaniel Sjoberg, VP Strategy, Business Development &

Marketing, Level 3 Peter Duffy, CTO, Sumerian


Software on chip technology used to be an attribute of sophisticated fire arms and targeting technology. It is now becoming a reality in the

capital markets. You may be good at trading, but it you latency is not up to it, then your competitors will outsmart you every time. Find out what

the future holds.

17:20 DEBatE: technology & High Frequency trading Will Normalise the Markets

Nikki Beatie, Head, The Market Structure Practice Ken Yeadon, Managing Partner, Thematic Capital

Michael Levas, Founder and Chief Investment Officer , Olympian Capital Management

Have you ever been to an Oxford Union style debate? Would you like to give your views and vote on the motion at the end of the debate? What is

your feeling about HFT? Will it kill or make the market of the future?

8:00 Coffee & registration

8:30 Chair’s Welcome address John Humphrys, Presenter & Broadcaster, BBC

9:00 Dealing With Challenges & Making Difficult Decisions In times Of Pressure

Baroness Eliza Manningham-Buller, Former Head, MI5 Eliza Manningham-Buller has one of the shortest entries in Who’s Who, as might be expected of the woman who knows, before even the Government does, the nation’s most sensitive and secret intelligence. In 2006, she gave a speech about the threat of terrorism to the West. Her officers were working to contend with some 200 groupings or networks, totalling over 1,600 identified individuals, who were actively engaged in plotting, or facilitating, terrorist acts here and overseas. “We are aware of numerous plots to kill people and to damage our economy. What do I mean by numerous? Five? 10? No, nearer 30 - that we know of. “ So how did she sleep at night? How did she manage to make the right decisions and outsmart this army of terrorists, bomb plotters and enemies? Join this inspirational talk to learn just how, and then take some interesting ideas back home.

9:30 the return of the Political Economy Paul Donovan, Managing Director and Global Economist, UBS In an environment that is becoming increasingly impacted by geo-political and regulatory events, Paul will address critical questions such as: Are

markets more powerful than politicians? Will the role Sovereigns play in the macro Securities markets continue to escalate? When did we last see such direct impact on the capital markets from our public officials? How are the policies of more developed economies affecting the emerging markets? What does the Equities trader need to know to adapt to this changing dynamic?

10:00 European Market Structure, Liquidity and the race to redefine Business Model Pre Mifid 2

Moderated By Damian Bunce, Managing Director, Head of Electronic Trading Distribution, EMEA, Barclays Capital

10:30 Inside the trader’s Brain: What Makes You trade the Way You Do?

Richard Peterson, Fund Manager, Psychiatrist & Neuroeconomics Expert, MarketPsych.comYou may not realise it, but there are biases that lay deep within your brain that influence the way you trade. Unfortunately these biases are what lead you to sometimes making the wrong trading decisions. But by really understanding how your brain works, and retraining, you can avoid situations where most traders take a wrong turn. Gain expert views into the mind of the market with some of the latest findings from neuroscientists, financial practitioners, and psychologists. This keynote provides both buy side and sell side asset managers with insights and tools to improve their decision making in today’s chaotic markets. A great opportunity to learn how to take control of one’s reactions to moves in the market.

11:00 Morning Coffee & Networking

Networking & Coffee In the ExhibitionJoin hundreds of solution providers, partners and peers for some of the best networking in the world of trading and trading technologies. Thousands of buy side traders, sell side brokers, exchanges and technology providers will be expecting to see you at TradeTech 2011.

11:30 Keynote Guest address: Building the Future For asset Management

Richard Lacaille, Chief Investment Officer, State Street Global AdvisorsAs Chief Investment Officer, Rick Lacaille has responsibility for all the investment management activity at SSGA, including research and trading. Join Rick as he presents his views on the changing role of the buy side trading desk. Gain a C-level perspective on what will be expected of you tomorrow and in 3 years time and the strategy and ideas behind these changes.

12:00 Flash Crash: What Happened, Why & How Can We Prevent It In the Future?

Larry Tabb, Founder & CEO, Tabb GroupEveryone recalls clearly the scene of confusion on the afternoon of Thursday 6 May 2010, when the US stock markets, suddenly and without warning, nosedived. Half of the traders were looking at the TV screens to see if there had been some worldwide catastrophe that had not been broadcast yet. The other half were looking behind the computers to see if the cables were plugged in. Shares in consumer products giant Procter & Gamble alone fell almost 40 per cent. Some

shares traded for a single cent - a fraction of their value only minutes before the crash occurred. The cause of the Flash Crash was a mystery - and it remains so. A ‘fat finger’ trade that might have caused a huge number of shares to be dumped on the market at a low price - has now been all but ruled out. So what did happened? Are you ready for the next “flash crash”?

12:30 Market Structure Panel Debate: Has the trading Landscape Become Driven By random Price Fluctuation & How Could We Change It?

Peter van Kleef, Principal, Lakeview Capital Market Services GmbH

Neil Joseph, Vice President, Equity Trading, JP Morgan Asset Management

Larry Tabb, Founder & CEO, Tabb Group

Mark Hemsley, CEO, BATS Europe Daniel Coleman, Head of Client Services

Business, GETCOFollowing on from the “flash crash” discussion, come join this debate to hear the different opinions on the current market structure and its future direction. Many asset managers believe that the current pricing models don’t have a future and things should be changed dramatically. What is the solution? Is random good or bad? Join this debate to voice your opinion and consider all options for market restructuring.

13:10 Lunch & Networking

17:15 Non Verbal Communication – Preview Of the Seminar By Joe Navarro On april 15thGiven that body language accounts for 60-80% of all interpersonal communication it is a necessity not a luxury to be able to decipher what others are truly thinking, feeling, desiring, or intending. The skill to understand and use nonverbal communications gives you a significant advantage over your peers, your colleagues, and your competition. Nonverbal intelligence is a requirement to effectively differentiate yourself and your business in a competitive environment.Join this sneak preview of the seminar taking place on the 15th of April. You will not regret spending the time or the money, learning how to influence colleagues, competitors and clients. Become smarter than others through effective non verbal communication.

17:45 End of Conference

14:15 Panel Discussion: Strategies For Managing Fund Managers’ Choices Of Best ExecutionTom Ungi, Head of Trading, Millenium Capital

PartnersKim Johannessen, Chief Technology Officer, GLG

PartnersYou and your fund manager should make a team. Sounds right?

This panel discussion is dedicated to effective fund manager management. It will discuss strategies you can implement to achieve true best execution without going against your fund

manager’s choices. Find out about the best tactics here.

14:15 Powering the Exchanging World NYSE Technologies

14:15 Panel Discussion: Managing risk On Your trading Desk: Systemic risk, trading risk, Currency risk

Rafael Molinero, CEO, Molinero Capital Management LLP

Steven Grady, Head of Global Dealing, Barclays WealthJuan Carlos Nieto, Founding Partner, Index IntelligenceRisk has moved to the top of everyone’s agenda. Managing it, means knowing it. Knowing it, means tracking it on a daily basis. Your trading risk is different from your investment risk, but both must be considered

jointly.

14:15 Dragon’s Den: Derivatives Electronic toolkitIf you want to upgrade your derivatives trading desk so that you can take

advantage of derivatives standardisation imposed by the regulators, then investing in the technology to allow you to trade electronically

is the next big challenge you face. Our objective is to help you make the right technology decisions. Best-of-breed technology providers will present their solutions and you will learn from the questions and challenges posed by your peers and competitors. Categories include:

Order Management System, Execution Management System, Algo’s and Connectivity.

Rustam Lam, Director, Global Head of Marketing, RealTickDave Cliff, Director UK Large-Scale Complex IT Systems

Initiative, University of BristolEMS technology provider:

Nitin Gambhir, CEO, Tethys Technology, Inc.

15:00 afternoon Coffee & Networking

15:45 Panel Discussion: Understanding EtF Liquidity and trading

Bruno Poulin, CEO, OssiamDaan F. Potjer, Managing Partner & Fund Manager,

Aethra Asset ManagementStephane Rougier, Global Structured Solutions

Director, Global Investment Solutions, Aviva InvestorsBenjamin Fussien, Global Head of ETF Distribution,

Société GénéraleMichael Levas, Founder and Chief Investment Officer,

Olympian Capital ManagementLiquidity is a word that pops up often in the markets, but what it means for ETFs isn’t necessarily what it means for other types of

securities and asset classes.A common assumption is that an ETF’s liquidity is determined by

its trading volume, but that isn’t necessarily so. The trading volume is more of an indicator of a funds popularity and how much it traded in the past – not how liquid it is. Get a good understanding on how your desk can take advantage of the ETF liquidity during this panel.

15:45 Developing an Effective Compliance & Monitoring Strategy On Your trading Desk Chris Simms, COO, Gartmore Investment

ManagementDoes your desk have the next rogue trader trading under your

management? What if they get out of control and bring down your business? The difficulties of monitoring and effectively identifying

unusual behaviour on your desk are apparent. The solutions are not. Hear this case study to find out one solution to the problem.

15:45 Panel Discussion: Developing a trading Strategy For Different Fund Managers – Different trading

Methods For Different Investment StrategiesGiovanni Beliossi, Managing Partner, FGS Capital

Tim Enneking, Chairman, Altima Asset Management David Miller, Equity Dealer, Invesco Perpetual

Every fund manager has their own style of investment. This style often determines, limits or enables your trading style. What are the factors

to consider? Have you come to a perfect equilibrium between the investment style of your fund manager and your trading style? If not, then this session will share some insights into balancing investment

and trading strategies to achieve maximum returns and minimise cost of trading.

15:15 Presentation: a European Legislator’s Perspective On Derivative Instruments

Dr. Kay Swinburne, Member, Committee on Economic and Monetary Affairs, European Parliament

With a background in capital markets, Kay has been active lobbying the EU on the best possible regulatory framework for MiFID II. She will be

offering you her first-hand insight in to how EU regulation is created and how market participants can better communicate with politicians and

regulators.



16:15 Panel Discussion: How Should Derivatives Clearing Be Opened to Competition and How are the

CCPs Improving their Services Exploit how central clearing can make your business grow by providing more transparency, reducing transaction costs, lowering systemic risk

and distribute risk through a central clearing agent.Visit www.tradetecheurope.com for more information

16:30 Panel Discussion: assessing the role & Cost Of Consolidated tape & accurate Data For Your

trading DeskAndrew Allwright, Business Manager Transactions

Analytics, Thomson ReutersDavid Berry, IPUG, COSSIOM, FISD Executive

Committee Member & Market Data Global Sourcing, UBS AG

Andre Kelekis, Head of Global Market Data, BNP Paribas

Nikki Beatie, Head, The Market Structure PracticeArguments against a consolidated tape for Europe include the cost of such a project - and who would bear that cost-and uncertainty

over who would fulfill the role of administrator; the fact that, unlike the US, no equivalent of the National Market System exists in Europe for onward-routing of stocks between venues to ensure

investors’ trades are executed at the best price; and the fact that commercial pressures in the US are now overtaking the limitations of the CTA model. Join this debate to hear the different arguments for and against consolidated tape. Make your voice heard, propose

new ideas and solutions to the problem. Debate and discuss.

16:30 Examining How algos Can Unintentionally Cause a Flash Crash - and What Can Be Done

about It Christopher D. Clack, Chairman, Financial Stability

Research Forum, UCLThere is an argument that the flash crash was caused by algos. The machines panicked and sent the world into chaos. If you would like an explanation of what happened without getting too technical, then

this presentation offers a lot of answers to some of the questions about the market crash. Find out if your trading desk is no longer

run by you but by your machines and algos.

16:30 Examining How algos Can Unintentionally Cause a Flash Crash - and What Can Be Done about It Christopher D. Clack, Chairman, Financial Stability

Research Forum, UCLThere is an argument that the flash crash was caused by algos. The

machines panicked and sent the world into chaos. If you would like an explanation of what happened without getting too technical, then this

presentation offers a lot of answers to some of the questions about the market crash. Find out if your trading desk is no longer run by you but

by your machines and algos.

16:45 Panel Discussion: Identifying Synergies Between Equities & Derivatives trading to Successfully replicate

Positive Equities Experiences Onto the Derivatives Landscape

Many organisations trade derivatives and equities from the same desk. How can technology be better blended to make this multi-asset specialisation even more seamless? Can speed and liquidity from one desk be transposed onto another? Understand the synergies between

these two types of trade so you can make sure your trading desk stands out from your competitors.

Jeremy Bezant, Partner, RFQ-HubAnders Kulp, Head of Trading, Estlander & Partners

Yury Dubrovsky, Chief Risk Officer, Lazard Asset Management

15:00 afternoon Coffee & Networking

Phone: +44 (0)20 7368 9465 Email: [email protected] Website: www.tradetecheurope.com P5

8:30 Chair’s Welcome address David Smith, Economics Editor, The Sunday Times

“For me, the crisis ushered in the busiest period I have known. Most economic and financial crises follow a set pattern. Either governments and central banks deliberately engineer slowdowns which spill over into recession or there is a big initial economic “shock”, such as a sudden rise in oil prices, followed by a series of smaller aftershocks. This was different. The shocks kept coming and increased rather than decreased in intensity. The initial events, the crisis for some US mortgage lenders, the problems at two Bear Stearns hedge funds followed by difficulties at some European banks and then the run on Northern Rock, almost paled into insignificance in comparison with what followed. …. There were times when, even professionals thought their money was safest under the mattress. … The truth was, however, that if the banking system went down there would be no compensation. There would be no economy. How did we get to such a situation?” From “The Age of Instability” by David Smith.

Join David Smith as he opens the day on one of the most contentious subjects in the markets today – high frequency trading. Find out more about high frequency strategies and their impact on your business. Learn, debate and make your decisions on HFT during this focus day.

9:00 Opening Guest address: How is regulation Shaping the Market and How Is the Market reacting? Larry Tabb, CEO, Tabb Group

The SEC has put forward an initial set of proposals and a consultation paper on HFT. The UK FSA is currently working on a definitive strategy and approach to HFT. This review of the way electronic markets are used is a clear sign that HFT faces new regulation in the future but questions remain about the impact this will have. Don’t miss this overview of the current regulation of trading landscape so that you can forecast its impact on your trading desk.

9:45 Developing & Implementing an Effective High Frequency Investment & trading Strategy: Looking at the Business Model, Its Strengths & Weaknesses

Peter Nabicht, CTO, Allston Trading

Get to grips with HFT during this presentation. Find out how HFT strategies are designed, how profits are achieved, what the challenges and threats are in a high frequency environment. Most of you will be interacting with high frequency flow on most of your trades. If you think HFT is outsmarting your trading strategy, then you may well be right! This presentation will show you how it is possible and what you can do to win in the high frequency race.

10:15 Overview Of Market Structure, Its Dynamics & Future Changes In trading Structure: Citadel Perspective Matteo Cassina, President, Execution, Citadel Europe

Many argue that the traditional market maker model has been mostly replaced by high frequency trading, with inevitable changes to the trading landscape and traditional market structure. Has HFT impacted your trading behaviour? What happened to the market makers? How do HFT firms see the market and what is their view of the future. Join this presentation to hear a view from a high frequency trading firm. Hear the truth from the “horse’s mouth”. You may be surprised by what you hear about HFT and its role in the marketplace.

10:45 Morning Coffee

11:15 PaNEL DISCUSSION: Building Intelligent & Efficient regulation to Help Bring Consistent transparency & Fair Play to the Markets: a View On HFt

Tim Rowe, Manager, Trading Platforms and Settlement Policy, Financial Services Authority

Rhodri Preece, Director, CFA Institute

David Beardsworth, Securities & Markets Team, HM Treasury

Having heard Larry Tabb analyse the current state of HFT regulation join this panel discussion to debate and question the regulators themselves. MiFID 2 should be at the top of your agenda, because it is bound to affect your trading strategies and business plans. Join this panel discussion to hear about the regulatory plans and to have an open discussion with the regulators. Make your voice heard, ask questions and prepare for the future.

12:00 DEBatE: Is High Frequency trading Good For Your Business, the Market & End Investors? Matteo Cassina, President, Execution,

Citadel Europe


Remco Lenterman, Managing Director, IMC

Martin Ekers, Head of Dealing, Northern Trust Global Investments

Prof Dave Cliff, Director UK Large-Scale Complex IT Systems Initiative, University of Bristol

Is HFT good for the world? Many argue it will eventually kill the market. Others rightly point out that HFT provides well over 50% of your daily liquidity. We don’t want to live with it, but can’t live without it. Which side are you on? Join this live debate to hear the different sides of the HFT story. Don’t listen to the hype, decide for yourself. All participants in this debate represent a different viewpoint on HFT. They will present you with a comprehensive picture on HFT and a great spectacle in a form of a debate.

13:00 Lunch

14:30 High Frequency trading Strategies In the US: What Is the truth & How Is It Different From Public Opinion

Garrett Nenner, Managing Director, Global Markets, Momentum Trading

Garrett J. Nenner’s experience in the financial markets ranges from the back-office to trading at well known brokerage and money management firms. He currently runs the trading desk at a privately held hedge fund and is a practicing high frequency trader. This presentation will give you unique insight into HFT, its strategies, practical realities of operating in high frequency world and the best ways of interacting with it. What you hear in the media may or may not be true. Form your own opinion.

15:00 Developing an Effective Strategy to Interact With High Frequency traders In Light & Dark trading Environments


This case study will show you some practical and easy to implement strategies for interacting with HFT. Most of your trades will inevitably interact with the HFT flow. You are likely to choose your trading venues according to your strategy on HFT interaction and choice of flow. Join Peter van Kleef to see how you can take advantage of HFT, and not the other way.

15:30 academic Presentation: High Frequency trading & Its Impact On the Markets – a View From the US Jonathan Brogaard, Kellog School of Management, North Western University

High Frequency Trading is not only the fastest growing subset of trading, it is equally profitable and controversial. The public perception of HFT is incredibly negative with most people believing that it has a negative effect on price discovery, liquidity and that plainly put, it isn’t fair. Jonathan Brogaard will show you evidence that high frequency trading contributes to price discovery and liquidity. There is also evidence that it has a minimal impact on volatility and may even reduce it. HFT demand for liquidity (42.7%) is slightly higher than their supply of liquidity (41.1%) and they provide the inside quote about 65% of the time. If HFTs were not market participants, the average lot trade (100 shares) would have an adverse price movement of $0.013 more than it does currently (for trades of 1000 shares, the adverse price movement would be $0.056).

16:15 afternoon Coffee

16:45 PaNEL DISCUSSION: assessing How High Frequency trading Has affected Pricing Fluctuations, Your trading Strategy & Investment – are We Playing In a Casino?

Michael Levas, Founder and Chief Investment Officer, Olympian Capital Management

Peter Nabicht, CTO, Allston Trading

Garrett Nenner, Managing Director, Global Markets, Momentum Trading

Nick Nielsen, Head of Trading, Marshall Wace

Retail and institutional investors have been stunned at recent stock market volatility. The proliferation of a new generation of very profitable, high-speed, computerised trading firms and methods that are causing retail and institutional investors to chase artificial prices. Do you really believe that you are chasing artificial prices? This panel debate is all about the future of the markets and the role of HFT in the trading landscape. Are you trading in a casino? If yes, who is the house? Find out the different views on the matter and make your opinion heard.

Given that body language accounts for 60-80% of all interpersonal communication, it is a necessity not a luxury to be able to decipher what others are truly thinking, feeling, desiring, or intending. Understanding and using nonverbal communications gives you a significant advantage over your peers, your colleagues, and your competition. Nonverbal intelligence is a requirement to effectively differentiate yourself and your business in a competitive environment.

In this seminar, which is based on his lectures at the Harvard Business School, Joe Navarro, a world-leading expert on the applied use of nonverbal communication and ex-FBI special agent, will provide you with the crucial insights you need to effectively assess and influence others. Drawing on his decades of experience in behavioral sciences and 25 years in the FBI, Joe will take a fresh look at nonverbal intelligence as a skill to differentiate you and your business.

Because when all the competition looks alike, it’s mastery of nonverbal intelligence that can set you apart.

April 12, 2011

High Frequency Trading: Challenges, Threats & Opportunities For Long Only Buy Side & Brokers

April 15th, 2011

Interactive Seminar: Mastering the Art of Nonverbal Communications To Win More Clients & To Become An Effective Leader

this Focus Day is dedicated to High Frequency trading – how it works as a strategy, the impact it has on the markets, and the technology needed to make it work for you. It will provide you with the facts beyond the industry hype. It will give you the tools and business strategies to establish your own HFt business. If you are interested in creating a low latency, robust and state-of-the-art trading platform, this is the event for you. Meet the exchanges and brokers and find out how

their platforms are changing. Learn from HFt firms and prop desks what works and what doesn’t in the high stakes big profits HFt game. Don’t get left behind!

By Joe Navarro, Former FBI Agent, World Specialist On Non-Verbal Communication

Useful In Management, Negotiations, Client Relations And Due Diligence, Joe Will Show You:

Practical Ways To Win

• howto“piercetheveil”sothatyoucaninteractwithothersandnegotiatemoreeffectively.• howtoproperlyobserveotherstounderstandtheirtruethoughts,feelings,desiresandintentions.• howtodifferentiateyouandyourbusinessusingstrategieswhichwillpositivelyinfluenceothers.• howtomanageyourown“curbsideappeal”byutilizingthepowerfulinfluenceofnonverbals.• theimportanceofpsychologicalcomfortandhowcreatinga“comfortdividend”ensuresfirstand

last impressions that inspire and attract others. • how“movementtoaction”isoneoftheprimarywaysweinspireandcreatebrandloyalty.• whythe“FourImperatives®”arecriticaltosuccessandwhymasteringthemgivesyouthepotential

to be not just great, but exceptional.

This seminar will be practical, detailed, and full of valuable pointers on how to lead, how to communicate more effectively and how to ensure that you have the best interpersonal relations with those you interact. You will be better able to take advantage of the information others are giving away, while at the same time creating a more positive environment for your employees, customers and clients.

Thought provoking, educational and entertaining, the seminar will leave you with information you can immediately put to use. It will change the way you do business. It will open new frontiers into interpersonal communication and client mastery.

This material is highly applicable to any business person, particularly senior managers, those who manage teams, sales people or for those conducting due diligence.

Hereisyourrareopportunitytolearnfromtheexpert—theex-FBISpecialAgent,“Spycatcher,”Harvardlecturer and bestselling author (What Every Body is Saying), Joe Navarro.


Media partners:Official TradeTech

Communications AgencyThe Official Newspaper of

TradeTech 2011 Published by The Trade

Lead Sponsor:

Phone: +44 (0)20 7368 9465 Email: [email protected] Website: www.tradetecheurope.com P7

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, with the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.

Barclays Capital is an acknowledged leader in advanced equity products and services. Our sales and trading teams provide clients with distinctive trading insight, full-service trade execution and customised solutions across all products. Through a comprehensive offering of electronic trading solutions, Barclays Capital Equities provides intelligent access to unique liquidity to help our clients achieve

best execution. Our equities and options algorithms are integrated with an end-to-end electronic trading product suite that includes our dynamic smart order router, LX® Liquidity Cross, our internal crossing network, and Portfolio WebBench®, our leading-edge analytics platform for pre-, post-, and intra-trade performance analysis. By leveraging these tools, our Electronic Sales Trading teams work closely with our clients to provide them with custom solutions and execution consultancy to help give them a competitive edge.

BARX is Barclays Capital’s award-winning electronic services offering, which provides electronic execution across fixed income, FX, futures, commodities, money markets, emerging markets, structured products and equities. For further information, please visit our website at www.barclayscapital.com or call +44 (0) 20 7773 8500.

Charles river Development is a front-/middle-office investment software solutions provider, serving over 300 investment firms in more than 35 countries representing the institutional asset/fund management, wealth management/trust, alternative, insurance, pension fund and fund administration/custody markets. Charles River maintains headquarters in Boston, primary offices in Beijing, London, Melbourne, New York, Paris, Sao Paulo, Singapore and Tokyo, and has a local presence in all other major financial centers of the world.

The Charles River Investment Management System is a multi-asset/multi-currency software suite consisting of five main modules: Charles River Manager - portfolio management/modeling; Charles River Compliance - real-time pre-trade/in-trade/ post-execution/end-of-day compliance monitoring; Charles River Trader - order management/electronic trading/execution management; Charles River Post-Trade - centralized management of trade matching/confirmation/settlement workflow; and Charles River Performance - daily performance measurement/attribution/performance risk. The company also offers the Charles River Anywhere Web-based workstation, the fully-integrated Charles River FIX Network and implementation/application management services and hosting solutions. solutions.

Morgan Stanley is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries.

Morgan Stanley Electronic Trading (MSET) provides a complete spectrum of services from pre-trade analytics and execution to post-trade execution performance analysis and commission management. We offer a comprehensive algorithmic trading suite and various direct market access (DMA) strategies, including our smart order routing technology and our dark liquidity pool aggregator. Whether you are connecting to us via a third-party order management system or using our Morgan Stanley Passport execution management system, our global product offering provides seamless access to trade portfolios, single stocks, ETFs, options, futures, swaps, and foreign exchange. Our team is committed to providing stellar trading solutions for the most demanding specifications.

Principal Sponsors:

Sponsors & Exhibitors:

Bank of america Merrill Lynch Global Execution Services offers a full suite of premier equity trading solutions enhanced by the firmís vast global resources, access to superior liquidity, world-class technology and leading scale positions in the capital markets. The range of offerings includes capital commitment and block trading, portfolio trading, direct market access, sophisticated quantitative analytics and research, and our powerful algorithmic trading platform. Located in 40 countries around the world, Bank of America Merrill Lynch provides clients with global and multi-asset class offering. For more information, go to: www.baml.com

BNP Paribas (S&P AA) is one of the six strongest banks in the world and the largest bank in the eurozone by deposits. GECD is the business line within CIB which combines the complementary activities of Structured Equity, Flow & Financing and Commodity Derivatives. Structured Equity and Flow & Financing offer a full range of innovative equity, index and fund-linked products. In addition, they offer a comprehensive range of research and execution services in Asian equity products and their

derivatives. Commodity Derivatives offers a full range of price risk management solutions. BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas Group. We are Europe’s leading securities services provider and provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. Our network is one of the most extensive in the industry, covering over 100 markets with our own offices in 32 countries. We bring together local insight and a global network to enable our clients to maximise their market and investment opportunities worldwide.

Part of the Crédit agricole Group, CA Cheuvreux is the 1st pure-agency European equity broker. Its historical, multi-local model positions CA Cheuvreux as a cutting edge outperformance provider for its 1,200 Institutional Investor clients. CA Cheuvreux offers extensive, high value-added services in Research, Sales and Execution. With 90 analysts and economists, and an unparalleled coverage of 700 stocks, CA Cheuvreux is continuously ranked in the Top 5 for European Country research and Top 3 European Corporate Access provider. CA Cheuvreux provides extensive market access to 100 execution platforms worldwide including all major MTFs and Dark Pools. Ranked

n°1 in Sales Trading Client Service, CA Cheuvreux’s execution specialists offer a wide spectrum of first-class products: DMA, Algorithmic Trading, Global Portfolio Trading, Equity Swaps and its own internal crossing engine.

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 77,053 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. www.db.com autobahn® Equity is Deutsche Bank’s global electronic trading platform, offering smarter liquidity in over 60

trading venues globally. Allow Deutsche Bank’s Smart Order Router to manage your execution needs using proprietary routing logic to intelligently access displayed liquidity, or use SuperX to seek dark liquidity while offering a sophisticated level of order protection. For further information on autobahn® Equity: [email protected]

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. Goldman Sachs Electronic Trading provides clients with the necessary tools to manage their trades from start to

finish, from pre-trade analytics to post-trade analysis. Clients access our products via FIX or our top-ranked EMS platform, REDIPlus®. Customers can seek liquidity using our suite of multi-asset algorithms, route to optimal destinations using our SIGMA smart router, and take advantage of non-displayed liquidity through our SIGMA and SIGMA X non-displayed liquidity suite. Along with providing clients access to global equity markets, we also offer FX, Futures, and Options across North America, Europe, and Asia.

Investment technology Group, Inc., is an independent agency research broker that partners with asset managers globally to improve performance throughout the investment process. A leader in electronic trading since launching the POSIT® crossing network in 1987, ITG takes a consultative approach in delivering the highest quality institutional liquidity, execution services, analytical tools, and proprietary research insights grounded in data. Asset managers rely on ITG’s independence, experience, and intellectual capital to help mitigate risk, improve performance, and navigate increasingly complex markets. The firm is headquartered in New York with offices in North America,

Europe, and the Asia Pacific region. For more information on ITG, please visit www.itg.com.

Knight is a global financial services firm that provides trade execution, research, asset management and capital market services across multiple asset classes. The firm is consistently ranked as a leading source of liquidity in U.S. equities with over 10 billion shares traded daily. Knight has a growing global presence with offices located throughout North America, Europe and the Asia-Pacific region. For additional information about Knight Capital Group, Inc. (NYSE Euronext: KCG) please visit www.knight.com

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe’s leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets. The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-

leading post-trade services. Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com

NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company’s exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext’s equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world’s equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and

the world’s second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com

realtick is the industry’s premier multi-broker, broker neutral, global, multi-asset trading platform, available through its flagship Execution Management System desktop, comprehensive data and trading APIs, RealTick for Microsoft Excel® plug-in, FIX and RealTick Mobile™. RealTick’s ease of use, unsurpassed flexibility and fully customisable trader experience delivers intuitively integrated analysis, execution and evaluation for smarter decision making and better investment performance through the trading cycle. This includes advanced trading tools; unrivalled electronic access to leading global brokers and their products, plus exchanges, ECNs, ATSs and alternative pools of liquidity;

real-time market and derived data, news, pre- and post analytics and proven risk management suite. Used by institutions, broker-dealers and traders worldwide, RealTick is supported by state-of-the-art global data centers, network redundancy and world class client service model for ultimate stability, resiliency and reliability. www.realtick.com. *RealTick is a registered trademark of Townsend Analytics, Ltd.

SunGard is one of the world’s leading software and technology services companies. It has more than 20,000 employees and serves 25,000 customers in 70 countries, providing software and processing solutions for financial services, higher education and the public sector. SunGard also delivers disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit www.sungard.com

About SunGard Solutions for Global Trading SunGard provides equities, futures, fixed income and options traders with multi-asset, front-to-back trading and risk management solutions on 110+ markets worldwide. SunGard’s Valdi supports the entire trade lifecycle, and includes market data, integrated trade and order management systems, advanced and smart execution services, risk management, and clearing and settlement solutions. SunGard’s Protegent provides the tools to manage global regulatory compliance, surveillance and suitability requirements. SunGard’s global trading solutions help buy and sell-side firms achieve increased performance, low latency and execution across multiple platforms, instruments and geographies. www.sungard.com/globalelectronictrading Contact us: [email protected]

thomson reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs 55,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com

UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. We combine our wealth management, investment banking and asset management businesses with our Swiss operations to deliver superior financial solutions and manage CHF 2.2 trillion in invested assets. UBS Direct Execution is the firm’s global institutional electronic trading business. Direct Execution offers ultra-low latency Direct Market Access (DMA), a suite of award-winning advanced Algorithmic Trading strategies, a state-of-the-art analytics platform — offering Real-Time TCA — called UBS Fusion, and a multi-asset international execution management system called UBS Pinpoint.

The Xetra business unit of Deutsche Börse provides listing, trading and clearing services for issuers, intermediaries and investors. Xetra provides efficient access to the capital markets, supports the latest trading techniques and provides an ever-growing range of tradable securities. The trading system of the same name sets the highest standards in terms of reliability, security, speed and innovation. Xetra offers the highest liquidity, transparency and cost efficiency to more than 250 European banks and brokerage firms from 19 countries. Approximately 400,000 securities are currently traded using Xetra technology, more than on any other trading platform.

TradeTech’s key goal is to ensure that the event focuses on the key challenges and opportunities that you are facing. To achieve this goal the TradeTech team do two things. Firstly we research with the industry. Every single TradeTech participant is asked to contribute to the agenda, giving us their ideas, challenges and suggestions for conference topics, formats and speakers. Having listened and research widely with the trading community, we enlist the help of our TradeTech 2011 Advisory Board to help us select conference discussion topics, bring new debates and sessions to the event and find the most innovative, interesting and thought provoking industry speakers.

The TradeTech 2011 Advisory Board has been instrumental in creating the conference agenda, choosing speakers and ensuring that TradeTech 2011 focuses on the challenges and issues facing the equity & derivatives trading community globally. WBR, the organisers of TradeTech 2011, would like to thank the members of the Advisory Board for their time, support and ideas, which will form the core of the event this year.

The Buy Side Only Roundtable Discussions take place on the afternoon of the 13th of April and are a unique opportunity for you to exchange strategies and experiences with your buy side colleagues. Find out if your buy side peers are facing the same challenges as you are. Learn what strategies they are using to trade in the current fragmented environment. Find out what works and what doesn’t.

CREATED FOR THE INDUSTRY BY THE INDUSTRY!

TradeTech 2011 Industry Advisory Board

TradeTech 2011 Brings You And Your Team The Most Outstanding List Of Speakers Ever!

There simply isn’t another event with such breadth and depth of experience, strategies, ideas and information!

Buy Side Only Networking & Roundtable Discussions – EXCLUSIVE TO BUY SIDE PARTICIPANTS! April 13, 2011 – Afternoon Sessions

A View From Buy Side Board RoomEvery year TradeTech welcomes a number of Chief Executive and Investment Officers to its plenary sessions to give you a view from the very top of buy and sell side of the business. This year we are delighted to welcome Kevin Cronin, Global Head of Equity Trading, Invesco and Richard Lacaille, Chief Investment Officer, State Street Global Advisors who will be focusing on the future of the asset management industry as well as their particular strategies for investment and company management. Join these unique keynote presentations to learn what your peers and customers are planning, find out about their vision for the future and take their best ideas to your business and your team.

Kevin Cronin, Global Head of Equity Trading, Invesco


Daan Potjer Managing Partner & Fund Manager Aethra Asset ManagementSylvia Carrasco Investment Management Partner Alion CapitalChristoph Mast Managing Director Global Head of Trading, RCM Allianz Global InvestorsPeter Nabicht CTO Allston TradingTim Enneking Chairman Altima Asset ManagementSteven Grady Head of Global Dealing Barclays WealthJohn Humphrys Presenter & Broadcaster BBCAndre Kelekis Head of Global Market Data BNP ParibasJohn Greenan Global Multi-Asset Connectivity Manager BNP Paribas Fortis Investments Matthew Collis Head of Trading Brewin DolphinAdam Majerowski Head Dealer BZ WBK AIB Investment Fund CorporationRoger Bootle Managing Director Capital EconomicsRobin Griffiths Strategist, Fund Manager Cazenove Capital ManagementKarel Lanoo Chief Executive Officer Centre For European Policy StudiesRhodri Preece Director CFA InstituteDenzil Jenkins Director of Regulation Chi-X EuropeMatteo Cassina President, Execution Citadel EuropeZina Psiola Head of Emerging Markets Clariden LeuKerim Derhalli Managing Director and Global Head of Equity Trading Deutsche BankSean Taylor Director, Financial Intermediaries Deutsche BankRob Passarella VP and MD of Institutional Markets Dow JonesGerald Santing Managing Director, Markets Dubai Financial Services AuthorityAnders Kulp Head of Trading Estlander & PartnersMaria-Teresa Fabregas-Fernandez DG Markt EUDiana Chan CEO EuroCCPGiovanni Beliossi Managing Partner FGS CapitalTim Rowe Manager, Trading Platforms and Settlement Policy Financial Services AuthorityAlexander Justham Director of Markets FSAAnthony Belchambers Chief Executive Officer Futures and Options Association

Brian Mitchell COO, Investment Division GartmoreChris Simms COO Gartmore Investment ManagementKim Johannessen Chief Technology Officer GLG PartnersDavid Beardsworth Securities & Markets Team HM TreasuryJuan Nieto Founding Partner Index IntelligenceMatthew Finnie CTO InterouteKevin Cronin Global Head of Equity Trading InvescoDavid Miller Equity Dealer Invesco PerpetualRobert Boardman Managing Director ITGLee Bray JP Morgan Asset Management Neil Joseph Vice President, Equity Trading JP Morgan Asset ManagementMartin Henning Head of Trading Kapitalanlage-Gesellschaft, BNY Mellon ServiceBradley Duke Managing Director Knight Capital EuropeJoe Wald Managing Director Knight Equity MarketsPeter van Kleef Principal Lakeview Capital Market Services GmbHDaniel Sioberg VP Strategy, Business Development & Marketing Level 3Richard Peterson Fund Manager, Psychiatrist & Neuroeconomics Expert MarketPsych.comNick Nielsen Head of Trading Marshall WaceTom Ungi Head of Trading Millenium Capital PartnersRafael Molinero CEO Molinero Capital Management LLPGarrett Nenner Managing Director, Global Markets Momentum Trading Andrew Silverman Managing Director Morgan StanleyJonathan Brogaard Kellog School of Management North Western University Martin Ekers Head of Dealing Northern Trust Global InvesmtentsLisa Dalmer COO European Cash Markets NYSE EuronextMichael Levas Founder and Chief Investment Officer Olympian Capital ManagementBruno Poulin CEO Ossiam

Roman Lokhov CEO Otkritie Securities LimitedRuben Lee CEO Oxford Finance GroupVincent Moojer Investment Manager, Head of Equities Trading PGGMSimo Puhakka Head of Trading Pohjola Asset Management LtdHuw Gronow Head Trader Principal Global InvestorsVictor Lebreton Managing Director Quant HedgeJeremy Bezant Partner RFQ-HubToby Bayliss Co-Head of Trading, EuropeTerence Nahar Investment Director, Investment Solutions Team Scottish Widows Investment PartnershipChristian Katz CEO SIX Swiss ExchangeRichard Lacaille Chief Investment Officer State Street Global AdvisorChristopher Rice Senior Managing Director State Street Global AdvisorsStuart Grant Financial Services Business Development Manager SybaseLarry Tabb Founder & CEO Tabb Group Nitin Gambhir CEO Tethys TechnologyNikki Beatie Head The Market Structure PracticeDavid Smith Economics Editor The Sunday TimesKen Yeadon Managing Partner Thematic CapitalPhilippe Buhannic CEO TradingScreen David Lester CEO TurquoiseDavid Berry IPUG, COSSIOM, FISD Executive Committee Member & Market Data Global Sourcing UBS AGMike Jackson formerly Chief Of The General Staff UK MODChris Clack Director of Financial Computing University College LondonDave Cliff Director UK Large-Scale Complex IT Systems Initiative University of BristolJoe Navarro Former FBI Agent World Specialist On Non-Verbal CommunicationEliza Manningham-BullerGavin Little Gill, Head of Asset Management Strategy, Linedata

…..the one with the buy side…Its no suprise that Trade Tech is known as “the one with the buy side”. Take a look for yourself at this list

of leading buy side firms who have already confirmed their attendance at Trade Tech 2011 - and there’s

still four months to go!

Threadneedle Investment • Alize Trading • Tibra Capital • Optiver • AXA Investment Managers

• Schroder Investment Management • Spire Europe • Legal & General • Banca Generali Asset

Management • Sector Asset Management • Mako Global Derivatives • SSGA • IMC Asset Management

• Russell Investments • Pictet • Sparinvest • Clariden Leu • Landesbank • River and Mercantile

Asset Management • FM Capital Management • Groupama AM • Saemor Capital • Indus Fund

Management • CB Richard Ellis Investors • Zurich Capital Management • Shore Capital Stockbrokers

• Intercapital Asset Management • Goldman Sachs Asset Management • AlphaNex Capital • BZ WBK

AIB Investment Fund Corporation • Generali IM • Dnb Nor Asset Management • Gulf International Bank

• Orbixa Management Services • AMC Group • Aberdeen Asset Management • Newton Investment

Management • Societe Europeenne De Banque • IPM • CM-CIC Asset Management • Folketrygdfondet

• Franklin Templeton Investments • Gartmore Investment Management • Catella Kapitalförvaltning •

Deka Investment • Sanlam Investment Management • HSBC Global Asset Management • Coutts & Co

• Robeco Asset Management • Marble Bar Asset Management • Otus Capital Management • Hermes

• Japan Invest • AIB WBK Fund Management • Erste Investment Hungary • WH Trading • Bank

Julius Baer & Co • CBRE Investors • Old Mutual Asset Managers • Silchester • Swisscanto Group

• Finasta Asset Management • Pareto Asset Management • Cap Alpha Energy Trading • BlueQuant

• Fidelity • Brevan Howard Asset Management • BBVA Asset Management • Bank of Piraeus Asset

Management • Millenium Capital Partners • Artemis Investment Management • Kempen & Co • Tullius

Walden • BHF Bank Asset Management • Cedar Rock Capital • GLC Limited • Landesbank Berlin

• Pioneer Investments • BNY Mellon Asset Management • Ardevora Asset Management • Banque

De Luxembourg • Lion Trust Asset Managment • Pohjola Asset Management • DZ Bank • JM Finn

& Company • Arrowgrass Capital • Partners Group • Norges Bank Investment Management • Arca

Partners • BlackRock • Alion Capital • Prima Asset Management • Lazard Asset Management •

Lombard Odier • Jo Hambro Capital Management • Cazenove Capital Management • Deutsche Bank •

First State Investments • Lyxor AM • Parsumo Fund Management • Royal London Asset Management

• Alliance Bernstein • Santa Fe Partners • CQS Management • Two Sigma Investments • Legg

Mason • Molinero Capital • Algo Engineering Europe • Fideuram Asset Management • Bellevue Asset

Management • Ruppert Trading • BlueCrest Capital • Norges Banks • SEB Asset Management •

Getco • Axa Rosenberg • John Locke Investments • State Street Global Markets • Sarasin & Partners

• Quant Hedge • Unigestion • BP • Estlander & Partners • Superfund Asset Management • Northern

Trust • Mondrian Investment Partners • PGGM • Credit Suisse Private Banking • Carnegie Bank • GLG

Partners • Bank Vontobel • ATA Invest Asset Management • Thematic Capital Partners • Daiwa Asset

Management • Ikos • M & G • SEB Enskilda • JP Morgan Asset Management • GIC • Moore Capital •

Macquarie Capital Funds • Lynx Asset Management • Jupiter Asset Management • Andra AP-Fonden

(AP2) • Quantlab • Francisco Partners • Pinebridge Investments • Saxo Bank • LD Invest Equity •

BUDA-CASH • Tell Capital • Mandatum Life Insurance Co. • UBS Global Asset Management • Soc

Gen Tourmaline • Natixis AM • Chicago Trading • RGM Advisors • Swedbank Robur • Lombard Odier

Darier Hentsch & Cie • Citadel Investment Group • Odey Asset Management • Shell Asset Management

• Sloane Robinson • La Branche Investment Management • Degroof Fund Management • Alliance

Trust Savings • Eczacibasi-UBP Asset Management • Baader Bank • FGS Capital • Kas Investments •

ERSTE Investment • Brewin Dolphin

Richard Lacaille, Chief Investment Officer, State Street Global Advisors

Larry Tabb, Founder & CEO, Tabb Group

Betsy Andersen, Head of Trading, Ignis Asset Management

Sheena Kelman, Head of Trading, Martin Currie

Huw Gronow, Head Trader, Principal Global Investors

Carl James, Global Head of Fixed Income & FX Dealing, BNP Paribas Investment Partners

Martin Ekers, Head of Dealing, Northern Trust Global Invesmtents

Vincent Moojer, Investment Manager, Head of Equities Trading, PGGM

Nick Nielsen, Head of Trading, Marshall Wace

Ruben Lee, CEO, Oxford Finance Group

Dave Cliff, Director UK Large-Scale Complex IT Systems Initiative, University of Bristol

Kee-Meng Tan, Managing Director, Global Head of Electronic Trading, Knight

Natan Tiefenbrun, Commercial Director, Turquoise London Stock Exchange Group

Steve Grob, Director of Group Strategy, Fidessa

Bruno Poulin, CEO, Ossiam

Cees Vermaas, CEO And Chairman, NYSE Euronext Amsterdam, Member Of The Management Committee, NYSE Euronext

Richard Semark, Managing Director, Client Trading & Execution, UBS

Brian Gallagher, Executive Director, Morgan Stanley

Rustam Lam, Director, Global Head of Marketing, RealTick

Marcus Hooper, Executive Director, Pipeline Financial Group

Jack Vensel, Head of Electronic Trading, Citi

Steven Grady, Head of Global Dealing, Barclays Wealth

Tony Brennan, Senior Vice President, Head Of Trading, Nomura Asset Management UK

Chris Sims, COO, Gartmore Investment Management


Diana Chan, CEO, EuroCCP

Rob Maher, Managing Director, Advanced Execution Services, Credit Suisse

Guillaume Lemarchand, Global Head, Global Execution Services, BNP Paribas

Damian Bunce, European Head of Electronic Sales Trading, Barclays Capital


WBR Ltd CanCeLLation, PostPonement and suBstitution PoLiCy:You may substitute delegates at any time by providing reasonable advance notice to WBR. For any cancellations received in writing not less than twenty-two (22) days prior to the conference, you will receive a 90% credit to be used at another WBR Ltd conference which must occur within one year from the date of issuance of such credit. An administration fee of 10% of the contract fee will be retained by WBR Ltd for all permitted cancellations. No credit will be issued for any cancellations occurring within twenty-one (21) days (inclusive) of the conference. In the event that WBR Ltd cancels an event for any reason, you will receive a credit for 100% of the contract fee paid. You may use this credit for another WBR Ltd event to be mutually agreed with WBR Ltd, which must occur within one year from the date of cancellation. In the event that WBR Ltd postpones an event for any reason and the delegate is unable or unwilling to attend in on the rescheduled date, you will receive a credit for 100% of the contract fee paid. You may use this credit for another WBR Ltd event to be mutually agreed with WBR Ltd, which must occur within one year from the date of postponement. Except as specified above, no credits will be issued for cancellations. There are no refunds given under any circumstances. WBR Ltd is not responsible for any loss or damage as a result of a substitution, alteration or cancellation/postponement of an event. WBR Ltd shall assume no liability whatsoever in the event this conference is cancelled, rescheduled or postponed due to a fortuitous event, Act of God, unforeseen occurrence or any other event that renders performance of this conference impracticable, illegal or impossible. For purposes of this clause, a fortuitous event shall include, but not be limited to: war, fire, labor strike, extreme weather or other emergency. Please note that while speakers and topics were confirmed at the time of publishing, circumstances beyond the control of the organizers may necessitate substitutions, alterations or cancellations of the speakers and/or topics. As such, WBR Ltd reserves the right to alter or modify the advertised speakers and/or topics if necessary without any liability to you whatsoever. Any substitutions or alterations will be updated on our web page as soon as possible.

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Signature:

Four easy ways to register...

1. Fax your completed registration form to WBR on +44 (0)20 7368 9401

2. Phone WBR on +44 (0)20 7368 9465

3. visit www.tradetecheurope.com and register for the event online

4. e-mail us at [email protected]

Booking code: TradeTech 2011 Registration form

Terms and condiTions - for complimenTary TickeTs1. Complimentary places are strictly reserved for Asset Managers, Investment Managers, Fund managers, Hedge

Funds, Pensions Funds, Private Banks and Institutional Investors.2. Tickets are allocated at the discretion of WBR.3. WBR will charge a “no-show” fee of £400 (Plus VAT) if you or a nominated replacement fails to attend the

main conference. 4. If you or a nominated replacement does attend the main two day conference then NO FEE WILL BE TAKEN.Your card will not be charged for cancellations received in writing more than 22 days before the main two day conference

WBr lTd cancellaTion, posTponemenT and suBsTiTuTion policy for focus day and Workshop:You may substitute delegates at any time by providing reasonable advance notice to WBR. For any cancellations received in writing not less than twenty-two (22) days prior to the conference, you will receive a 90% credit to be used at another WBR Ltd conference which must occur within one year from the date of issuance of such credit. An administration fee of 10% of the contract fee will be retained by WBR Ltd for all permitted cancellations. No credit will be issued for any cancellations occurring within twenty-one (21) days (inclusive) of the conference. In the event that WBR Ltd cancels an event for any reason, you will receive a credit for 100% of the contract fee paid. You may use this credit for another WBR Ltd event to be mutually agreed with WBR Ltd, which must occur within one year from the date of cancellation. In the event that WBR Ltd postpones an event for any reason and the delegate is unable or unwilling to attend in on the rescheduled date, you will receive a credit for 100% of the contract fee paid. You may use this credit for another WBR Ltd event to be mutually agreed with WBR Ltd, which must occur within one year from the date of postponement. Except as specified above, no credits will be issued for cancellations. There are no refunds given under any circumstances. WBR Ltd is not responsible for any loss or damage as a result of a substitution, alteration or cancellation/postponement of an event. WBR Ltd shall assume no liability whatsoever in the event this conference is cancelled, rescheduled or postponed due to a fortuitous event, Act of God, unforeseen occurrence or any other event that renders performance of this conference impracticable, illegal or impossible. For purposes of this clause, a fortuitous event shall include, but not be limited to: war, fire, labor strike, extreme weather or other emergency. Please note that while speakers and topics were confirmed at the time of publishing, circumstances beyond the control of the organizers may necessitate substitutions, alterations or cancellations of the speakers and/or topics. As such, WBR Ltd reserves the right to alter or modify the advertised speakers and/or topics if necessary without any liability to you whatsoever. Any substitutions or alterations will be updated on our web page as soon as possible.

Your Personal details: Your information will be held and used by Worldwide Business Research Limited (“WBR”) to register you for this conference and/or we may contact you by email, phone or post with information about other conference, products and services which we or our associated companies provide. We may also from time to time share your personal information with other parties in the European Economic Area who may wish to contact you by phone or post in relation to special offers, products and services related to your role within your company. If you would prefer not to receive such information from us or such third parties, please fax us, including a copy of this page of the brochure, on UK freephone fax number 0800 6525943 or +44 20 73698 9401

From time to time your name may be used in third party mailings. Please tick if you do not wish this to happen

Your choice of registration package

Bookings received before 28th January Bookings received after 28th January

Main Conference Only (13 - 14 April, 2011) FREE – complimentary ticketYour place will not be registered if you do not supply credit card details

Add the HFT Focus day (12th April 2011) £600 £750

Add the workshop (15th April 2011) £499 £499

Add CD Rom* £200 £200

Please tick which package you wish to register for:

Prices are subject to the applicable UK VAT rate: In 2010 prices are subject to 17.5% UK VATFrom January 2011 prices will be subject to 20% UK VAT

*If you are unable to make it to the conference, but would still like to purchase the CD Rom, contact us on +44 (0)20 7368 9465

Delegate Details (photocopy for multiple bookings)

Credit Card Details

Please fill in this section whether you are registering for complimentary place or purchasing the focus day and/or the workshop.

Mastercard Visa American Express

Card Number:

Security Code: Expiry Date

Cardholder’s Name:

Cardholder’s Signature

Purchasing the HFT focus day and/or workshop:1. Payment should be received by WBR Ltd within 7 days of the invoice date or by expiry of given discount date

which ever is the earliest. If payment is not received by the offered discount date the higher price will apply.2. Payment of invoices other than by means of credit cards or purchase order (UK PLC and Government bodies only)

will be subject to a £49 (plus VAT) processing fee.Securing your complimentary ticket (main conference only):1. Your complimentary place will not be registered if you do not supply credit card details.2. Your card will not be charged for cancellations received in writing more than 22 days before the main two day

conference 3. I hereby allow WBR to charge a “no show” fee of £400 + VAT to my credit card if I or a nominated

replacement fails to attend the main two day conference.

YeS! i Will Be aTTending TradeTech 2011Last Name: (Mr/Mrs/Ms):

First Name:

Job Title:

Department:

Registration Contact:

Company:

Address:

City: Post Code:

Country:

Telephone:

Fax:

E-Mail:

Company VAT No.

Signature:

Four easy ways to register...1. Fax your completed registration form to WBR on

+44 (0)20 7368 94012. Phone WBR on +44 (0)20 7368 9465

3. e-mail us at [email protected]

4. Post: Please return your registration to: TradeTech 2011, WBR Ltd, 3rd Floor, 129 Wilton Road, Victoria London, SW1V 1JZ

TradeTech Complimentary Buy-Side Pass

Booking code:

tradetech europe 2011 brochure

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