Course highlights: Smart order routing

Implementing algorithm trading systems Algorithm Trading in fixed income

The changing shape of liquidity Operating within asset classes

incisive-training.com/algo2008

Algorithmic
Trading
Applying technology to the
trading process
New York
16 June 2008
London
23 June 2008
Coming up in April — June 2008
Risk Management For The Asset Portfolio Construction
Management Industry New York 5 & 6 May
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London, October 2008
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 Algorithmic
Trading
About the workshop
Algorithmic Trading has already become mainstream
in equities, with experts predicting that we are
approaching a point when more than half of the
trades struck on the London Exchange will be
instigated by algorithms. Other asset classes are also
beginning to see the benefits algorithmic trading can
offer in terms of increased profitability, improved
execution and greater customer satisfaction.
Algorithmic based trading strategies are fast
becoming the standard across a number of financial
institutions. While algorithmic trading is nearly a
standard in equity trading, algorithmic trading
solutions are fast moving on to FX and Fixed Income.
This workshop is designed to bring you up to speed
with the latest techniques, strategies and
implementation of algorithmic trading. The leading
algorithmic trading experts will share their experience
and knowledge with you, enabling you to walk away
with practical skills demanded by the industry.
Venue
Please check website for updates —
incisive-events.com/algo2008
Learning outcomes
— Understand the different classes of algorithms
now available
— Which liquidity sensing techniques are most effective
— How do you trade in today’s fragmented market
— Combining existing algorithm strategies to work with market data and global connectivity for financial
multiple assets
— General overview on bond pricing/hedging in real time
Who should attend?
This highly practical and interactive course is designed
specifically for professionals working in the field of algorithmic
trading, enabling participants to examine and discuss the key
issues in this area. It will be of particular relevance to:
Head of Trading/Head of Equity Trading/Head of Trading
Technology/Head of Alternative Execution Systems/Head of
Connectivity/Head of Electronic Trading/Head of Program
Trading/Head of Portfolio Trading/Head of Algorithmic
Trading/Head of Execution/Head of Fixed Income Trading/
Head of FX Trading/Chief Architects
Book now
call— +44 0870 240 8859/ +1 (212) 925 6990
email— traininginfo@incisivemedia.com
web— incisive-events.com/algo2008
Applying technology to
the trading process
Course tutors:
New York
Stephane DiTullio, BARCLAYS CAPITAL
Stephane DiTullio is a Director and Global Head of
Electronic Futures & Equities at Barclays Capital. He
is based in New York and reports to John Caccavale,
Head of Ecommerce North America. Mr. DiTullio is
responsible for the sales, business development,
and marketing of Barclays Capital’s BARX brand of
electronic products and services for Exchange Traded
securities and derivatives. Mr. DiTullio led the
initiative to develop Barclays Capital’s Direct Market
Access (DMA) solutions for the firm’s Futures and
Equities businesses, the first of its kind in the industry.
David Margulies, WEEDEN & CO
David Margulies is Director of Sales for Susquehanna’s
Program and Algorithmic Execution group. David has
been in the securities industry for over 15 years and
has served in many roles specializing in electronic
execution solutions. Prior to joining Susquehanna
in 2005, David held several senior roles at Knight
Securities, Robertson Stephens, Bridge Trading and
Merrin Financial.
Timothy Reilly, CITIGROUP
Timothy Reilly is a fourteen year veteran of the
electronic trading arena. Tim is a Managing Director
at Citigroup Global Markets, Inc. where he manages
the Electronic Execution Sales team. His current focus
is on delivering Citi’s algorithmic trading, crossing
network, and smart order routing technology to
institutional clients. He began his career on the
Salomon Brothers Program Trading desk. In 2001, Tim
was appointed Head of US Portfolio Sales Trading.
In 2004, he took on a new role as Co-Head of the
Citigroup US Alternative Execution Group. Tim was
a key driver in delivering the firm’s algorithmic and
direct market access platform. Tim is a 1993 graduate
of Georgetown University in Washington, DC.
Matthew Rowley, FIDESSA
Matthew Rowley is Vice President, Product Marketing
at Fidessa, where he is responsible for the global
product management of algorithmic trading. At
Fidessa, he has held various roles including
consultancy, development, and product
management of advanced trading products. Mr.
Rowley began his career at First Chicago on the
derivatives desk developing systematic trading
algorithms. He holds a First Class Honors degree in
Mathematics and a Masters in Statistics from Oxford
University. Fidessa is a provider of trading systems,
institutions worldwide.
New York
16 June 2008
London
23 June 2008
London
Bruce Bland, FIDESSA
Bruce Bland is Head of Algorithmic Research for
Fidessa plc, and has been instrumental in the
development of Fidessa’s Pairs and BlueBox
algorithmic offerings. The role has included the
design of Fidessa’s European algorithmic trading
models and research into future software
developments. Prior to this role Mr Bland was a
senior consultant working on the implementation
of Fidessa’s trading platforms and bespoke software
developments for many of Fidessa’s global enterprise
clients over10 years.
Dr. Gangadhar Darbha, ROYAL BANK
OF SCOTLAND
Dr. Gangadhar Darbha has a PhD (Economics, IGIDR,
India) and Post-Doc (Finance, Wharton School,
University of Pennsylvania). Earlier he worked at the
National Stock Exchange in India, and in Algorithmic
Trading in Morgan Stanley and ABN AMRO in London.
Currently, he is the Product Manager for Algorithmic
Trading in Delta Business in Fixed Income at Royal
Bank of Scotland, London. Prior to joining industry,
he had taught at University of Pretoria, National
Institute of Public Finance and Policy and Indian
School of Business.
Juan Carlos Nieto, INDEX
INTELLEGIENCE
Juan Carlos is a Founding Partner of Index
Intelligence, a Private Hedge Fund. Prior to Index
Intelligence, Juan Carlos was the Global Head of
Business Development at Rabo Securities. Besides
its development role, the unit was Rabobank’s Best
Execution platform offering superior electronic
execution. Before joining Rabobank, Juan Carlos
co-founded EuroLink Network, an international
broker-dealer and Best Execution specialist firm,
which was acquired by NYFIX in 2004.
Brian Schwieger, MERRILL LYNCH
Brian Schwieger is head of EMEA Algorithmic Trading
for Merrill Lynch, managing the Quantitative
Engineering, Execution Desk and Execution
Consulting associated with Merrill Lynch’s algorithmic
product in Europe. In this capacity, he leverages 14
years of trading experience to help traders and clients
understand and identify the algorithmic strategies
and tactics which best suit their objectives.
His previous trading experience spans Equity
Portfolio, Equity Cash and Commodities (Oil & Gas).
Since joining Merrill Lynch in 2005, he has been
involved in the sales, marketing and roll-out of the
ML X-ACT platform in Europe. One of his particular
focuses has been helping clients improve their
algorithmic trading performance through TCA and
Execution Consulting. Brian holds a Masters in
Finance from London Business School and a
BSc(Econ) from the London School of Economics.
John Edge, JP MORGAN
Please visit website for biography —
incisive-events.com/algo08
 Algorithmic Applying technology to
the trading process
New York
16 June 2008
Trading London
23 June 2008

New York Monday 16 June 2008

Day

1
0900 Registration and Coffee 1400 Smart order routing
— How do you trade in today’s
0930 Implementing algorithm trading fragmented market?
systems — What is so smart about order routing
Understanding and developing — Assessing regulatory impact on
your trading needs smart order routing in relation to best
— Understanding the different classes of execution and venue selection
algorithms now available — Challenges of connecting to
• Benchmark algorithms multiple venues
• Execution algorithms Tutor David Margulies, Director of Algorithm
• Multi order algorithms Sales, WEEDEN & CO
— Assessing the implementation of next
generation algorithms 1530 Afternoon break
— Improving the trader/machine interface
Tutor Matthew Rowley, Global Product Operating within multiple
Manager, FIDESSA 1600
asset classes
— Defining the similarities and differences
1100 Morning break
between asset classes
• Foreign exchanges
1130 The changing shape of liquidity • Fixed income
— Dark Pools • Equities
• What are the optimal approaches to — Combining existing algorithm strategies
leverage dark liquidity to work with multiple assets
• Evaluating the fairness/costs/access — Evaluating multi-asset trading and cross
in aggregation asset trading
• Assessing TCA (Transparency — Can algorithmic trading cope with
Cost Analysis) complexity of trades
— Best practice for maximising Tutor Stephane DiTullio, Director,
execution quality BARCLAYS CAPITAL
— Which liquidity sensing techniques are
most effective 1730 End of course
— How have buy side trading desks
changed post MiFiD, Reg.NMS
— Traditional exchanges vs. alternative
trading venues
Tutor Timothy O’Reilly, Managing Director,
CITIGROUP GLOBAL MARKETS CITI

1300 Lunch

Book now
call— +44 0870 240 8859/ +1 (212) 925 6990
email— traininginfo@incisivemedia.com
web— incisive-events.com/algo2008
 Algorithmic Applying technology to
the trading process
New York
16 June 2008
Trading London
23 June 2008

London Monday 23 June 2008

Day

1
0830 Registration and Coffee 1330 Smart order routing
— How do you trade in today’s
0900 Implementing algorithm fragmented market?
trading systems — What is so smart about order routing
Understanding and developing — Assessing regulatory impact on smart
your trading needs order routing in relation to best
— Understanding the different classes of execution and venue selection
algorithms now available — Challenges of connecting to
• Benchmark algorithms multiple venues
• Execution algorithms Tutor Juan Carlos Nieto, Founding Partner,
• Multi order algorithms INDEX INTELLEGIENCE
— Assessing the implementation of next
generation algorithms 1415 How can algorithmic trading be
— Improving the trader/machine interface used in the futures market
Tutor Bruce Bland, Head of Algorithmic — Examining the impact of the latest
Research, FIDESSA algorithmic technology on the
futures market
1030 Morning break — Measuring the accuracy of trades
sent algorithmically
1100 The changing shape of liquidity — Assessing the impact of volatility in
— Traditional exchanges vs. algorithmic trading
alternative trading venues Tutor John Edge, Product Development,
— Comparison of US and European JP MORGAN
experiences to fragmentation
— Dark Pools 1500 Afternoon break
• What is the value of dark liquidity?
• What are the optimal approaches to 1530 Algorithmic trading in
accessing dark liquidity? fixed income
• Assessing TCA (Transparency — Opportunities and challenges
Cost Analysis) — Look at trends and highlight the scope
— What are the buy and sell side doing to and opportunities
adapt to the new european liquidity — Discuss the challenges for algorithmic
Llandscape? trading in fixed income from both
Tutor
Brian Schwieger, Head of EMEA modelling and system development
Algorithm Trading, MERRILL LYNCH perspectives
— General overview on bond pricing/
1230 Lunch hedging in real time
Tutor Dr Gangadhar Darbha
Product Manager, Algorithmic Trading
ROYAL BANK OF SCOTLAND

1730 End of course

Book now
call— +44 0870 240 8859/ +1 (212) 925 6990
email— traininginfo@incisivemedia.com
web— incisive-events.com/algo2008
 Algorithmic Applying technology to
the trading process
New York
16 June 2008
Trading London
23 June 2008

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