7:45 a.m. Buy-Side Registration & Breakfast

8:30 a.m. Before the Bell Session Opens to All Buy-Side Attendees

Buy-Sider’s Only Before the Bell Forum: Style and Substance: Accessing Dark Pools, Attaining Liquidity and Maximizing Your Trading Technique
In our trademark buy-side only forum (no press, vendors, sell-side or regulatory bodies), traders have the opportunity to interact freely with their colleagues and discuss the issues of the day which matter most to them. Set up as roundtables, each table is headed by 2-3 Senior Traders who start off the discussion with the meat and potatoes issues:

• How does the trader gain the best trading result in an uncertain market?
• Do algorithms and high frequency electronic trading negate the need for the human touch?
• If we are migrating from milliseconds to microseconds, are we just splitting the atom?
• What does it take for the trader to lead the herd rather than follow?
• These questions and others are brought up and discussed. Our Buy-Side Only

Roundtables are headed by:

Christopher Fiorito, Head Trader, ALLSTATE INVESTMENTS
Jon Anderson, Head of Trading, BLUEMOUNTAIN CAPITAL MANAGEMENT
Tim Olsen, Senior Vice President & Head Equity Trader, ICM ASSET MANAGEMENT
Stephen Berte, Senior Equity Trader, STANDARD LIFE INVESTMENTS
Michael Crockett, Senior Equity Trader, BRAZOS CAPITAL MANAGEMENT
Jason McLean, Head of Trading, IRIDIAN ASSET MANAGEMENT
Bob Moon, Director of Trading, ROOSEVELT INVESTMENT GROUP
Tim Christiansen, Senior Equity Trader,SAWGRASS CAPITAL MANAGEMENT
Ben Batory, Head Trader, BRIGHTPOINT CAPITAL
Enrico Cacciatore, Senior Trader, ING INVESTMENT MANAGEMENT
Jason Tobias, Director of Execution Management, MAJOR HEDGE FUND
Andrew Nelson, Senior Trader, TIAA-CREF

The solution providers’ workshops offer demonstrations and one-on-one tutorials with buy-side attendees. These sessions allow our attendee to gain first-hand experience with the latest in technology, research and leading-edge products that will enable them to attain optimal trading execution.

Wednesday, October 15, 2008
7:45 a.m. Registration & Breakfast

8:30 a.m. Before the Bell Session Opens to All Buy-Side Attendees

9:30 a.m. Solution Provider Workshops Commence

9:30 a.m. WORKSHOP ONE

Bloomberg TradeBook

10:15 a.m. WORKSHOP TWO

Anti-Gaming

11:00 a.m. WORKSHOP THREE

11:45 a.m. WORKSHOP FOUR

12:30 a.m. Luncheon for Speakers & Buy-Siders

1:45 a.m. WORKSHOP FIVE

2:30 a.m. WORKSHOP SIX

3:15 a.m. WORKSHOP SEVEN

4:00 a.m. WORKSHOP EIGHT

In addressing the need to design a forum on an overview of today’s markets as well as providing a base of understanding for terminology and discussion, you choose any or all of the following workshops. Designed for anyone who wants more in-depth information about the trading environment, the workshops in A Trader’s Guide to the Market are conducted by experienced industry practitioners who relay year’s of experience to answer your questions. Divided into four comprehensive workshops, you can select any or all of them to attend. The fundamental purpose: A workshop providing a solid foundation to allow for more engagement, discussion and understanding of comprehensive solutions which they can bring back to the desk.

7:45 a.m. Registration & Breakfast

8:30 a.m. Before the Bell Session for all Buy-Side Attendees

9:45 a.m. Workshop Sessions Commence

9:45 a.m. WORKSHOP ONE

Market Structure: The Who, What & Why the Trader Must Know
On the surface, financial markets can seem inordinately complex. This workshop strips away the mystery and provides attendees with a broad and soundly based understanding of how markets work and why they are important. Throughout this session, attendees will gain an understanding of who the key professionals are in these markets - investors, intermediaries, regulators and professional advisers - and how they operate with the overall aim of providing attendees with:

• Basic financial understanding necessary to avoid the jargon traps
• Engage financial professionals in meaningful, productive dialogue
• Benefits and limitations of different trading structures
• Impact of technology on the development of trading systems, liquidity and market structure

Meet Your Facilitator:

Sang Lee is a co-founder and serves as the Managing Partner at AITE GROUP, LLC. Mr. Lee’s expertise lies in the securities and investments vertical and has advised many global financial institutions, software/hardware vendors, and professional services firms in sell-side and buy-side electronic trading technology, market structure, retail brokerage technology evolution, and wealth management. Prior to joining Aite Group, Mr. Lee was a founding member of Celent Communications and served as the Manager of the Securities & Investments Group as well as the Operations Group. Prior to Celent, Mr. Lee served as a business strategist for ZEFER, an industry-leading Internet professional services firm in Boston. Mr. Lee also worked for D.E. Shaw Financial Technology, where he was responsible for business development and marketing. At D.E. Shaw, Mr. Lee conducted market research and competitive analysis, as well as spearheading partnership programs. He played an instrumental role in the sale of D.E. Shaw to Merrill Lynch. Mr. Lee received his BA from the University of Michigan and his MA from Columbia University.

11:00 a.m. Morning Networking Break

11:15 a.m. WORKSHOP TWO

Tactical TCA: Transaction Cost Analysis in Practical Terms for Trade Execution
Today’s trader is constantly confronted by the difficulties posed by trying
to trade effectively in a world of multiple venues, multiple strategies and
sometimes conflicting TCA data. Putting these pieces together can entail
challenges even for those with years of experience. Facilitated by an industry
insider, this workshop examines how you can achieve a competitive edge in
your trading execution by implementing an effective TCA program.
Issues addressed include:

• Best Executions versus tactical analysis: Where are the gaps?
• Identifying the issues with pre- and post- trade analysis: Where can they help? What are their limitations? How do you use them to best advantage?
• Developing an effective feedback loop between analysis, trading and monitoring the executions
• How do you determine the right solution platform or set of tools?

Meet Your Facilitator:

Marie Konstance was formerly Vice President at Goldman Sachs where she served as Execution Consultant, working with clients to examine the cost of the algorithmic trading strategies and to use this analysis to trade more effectively. She has a long history with investment analytics and transaction cost analysis. Before coming to Goldman Sachs, she was the Director of Sales and Product Management for Plexus Group, a business division of JP Morgan. She joined JP Morgan from ITG, where she was a Senior Vice President responsible for the analytical product effort, which comprised transaction cost analysis products, optimization and fair value models. In this capacity she was in charge of marketing all analytical products, having previously managed their development. Prior to ITG, Ms. Konstance worked for PaineWebber, where she built and managed sales for a direct market access trading product, and at Morgan Stanley, where she was the product manager for analytical products. She holds a BA from Colgate University and an MBA from Harvard Business School.

12:30 p.m. Luncheon for Workshop Facilitators and Attendees

1:45 p.m. WORKSHOP THREE

Electronic Trading and Algorithms: Understanding the Art and the Science
Exchange floors have become ghost towns or TV studios as trading has migrated form the floor to the desktop with the advent of high frequency trading. The buy-side is used to the sell-side doing both their analysis and execution, but those days are gone and it is imperative that today’s trader keeps up. We have a multi-product, quant-oriented trading landscape and the ideal trader meshes both the mathematical and the instinctual – the art and the science – together to be successful.

This workshop examines the growth of electronic trading and the incorporation of algorithms into high frequency trading, what it means to the trading environment and more importantly, what it means to you, the trader. Issues addressed include:

• Analyzing trading processes and automation of the workflow
• Transparency in direct market access
• Capabilities for handling massive volumes in trading on a global scale

Meet Your Workshop Facilitator:

James T. Leman is currently a principal and Capital Markets Head of Westwater Corp., a management and technology company  after having spent thirty four years involved in Global Electronic Trading and External Connectivity, Global Middle Office Operational Management and Regulatory positions with Citigroup, HSBC and the New York Stock Exchange along with their affiliates.  Jim has thorough in-depth skills in all financial and operational aspects of the brokerage industry and led the firm and the industry in the creation and development of revolutionary technologies for equity trading and managing the processing of securities transactions.  Recognized as one of the top technology innovators of the ‘90s by Wall Street & Technology Magazine, Jim’s responsibilities included supervision of over 24 Electronic Trading staff and over 260 Middle Office employees globally for customer electronic trading and post execution support respectively. His Connectivity teams in US, UK, Japan, Hong Kong and Australia oversaw trading and connectivity with over 1200 customers. His Middle Office teams in the same location support sales/trading and trader post execution processing teams, pursue STP objective and elimination of manual handling of trades through application of technology along with strong customer relationship building activities. Jim is a Founding member of the FIX (Financial Information Exchange) Industry committee and he led the global creation of the FIX committee in Europe, Japan, and Asia.  Jim was a founding member of Thompson/DTCC Omgeo (US) Advisory committee and led the development of the Oasys and Oasys Global Middle Office Application development effort. Jim was a lead Participant in internal committees to analyze trading processes and design the Equity desk trading systems (EDTS) still in use today.  Also designed and installed the program trading desk system (PTMS) still in current use today. Before joining the NYSE Jim served 3 ½ years in the US Army with tours in Germany and Vietnam as a rotary wing aviator. Jim resigned as a Captain in 1972.  Jim holds a BS Accounting St. Peter’s College 1968 and an MBA Finance Fordham University 1975.

3:15 p.m. Afternoon Networking Break

3:30 p.m. WORKSHOP FOUR

Technology and the Trader: Selection, Application and Execution of Trading Applications
Anticipating changes and marking trends are all well and good, but
translating that into technological and trading applications is a challenge –
although one which can give you a competitive edge. This workshop
addresses which technology meets a trader’s need, what trading opportunities
are available and what challenges in the global economic environment must
be faced.

Areas addressed include:

• The rise of the global markets and the impact on the trader
• Shifting buy-side/sell-side relationships and what that means in the coming years
• The rise and rise of the hedge funds: What the ultimate effect will be on the rest of the trading environment
• Areas of growth and expansion: Which asset class(es) will be the next big thing?

Meet Your Workshop Facilitator:

Adam Sussman, Director of Research at the TABB GROUP, joined the company as a senior analyst after serving as a senior product manager responsible for order management systems, routing and nextgeneration trading tools focused on the equities and options markets at Ameritrade, Inc. Adam joined Ameritrade in 2002 with its acquisition of Datek Online and worked closely to merge each company’s technologies into a bestof- breed solution. He earned a BA in philosophy and comparative literature atthe University of Rhode Island. His background includes teaching English as a second language in Changwon, South Korea. A freelance writer, he has had articles in Details, Men’s Health and Time Out New York magazines.

4:45 p.m. Plenary Session Commences

PLENARY SESSION

4:45 p.m.Trader Idol: The Speed Trading Competition
In this interactive game exclusive to Trading Algos and Beyond, top trading platform providers compete against each other, trade to trade and side by side, to be evaluated on speed of execution, TCA and overall quality of the trade. Join us for this global premier of a millisecond competition - only one of its kind for the Buy-Side!

5:30 p.m. Immediately following Trader Idol, all attendees are welcome to join The Buy-Sider’s Club Annual Meeting Gala Reception where we start the excitement for tomorrow’s conference.