7:45 a.m. Registration & Networking Breakfast

8:45 a.m. Greetings & Perspectives from the Chair

9:00 a.m. The Evolution of Trading into Art vs. Science:
A Trade off Between Statistics and Intuition

We kick off with the crucial debate of art and science; trading intuition and mathematics. Understanding when to use your gut and when to rely on an equation is a challenging one and here we bring members of our faculty together in an expert discussion on the subject addressing areas including: - we want to help you get it right. Bringing together experts on both sides of the quant and trading arguments, our panel addresses:

• How do you integrate algorithmic/systematic strategies with discretionary strategies?
• How do you combine risk (quantifiable) with uncertainties (unquantifiable)?
• Calculating risk when it is not uniform across the desk
• Algorithms: Decision execution tool or decision making tool?

9:45 FEATURED SESSION: The Future of Quantitative Trading

10:15 a.m. KEYNOTE SESSION: A 10,000 Foot View of the Markets

CNN’s Senior Business Correspondent Ali Velshi discusses first-hand what the market is saying and where it’s going based on his face-to-face meetings with industry leaders. Host of Your $$$$$, CNN’s weekend business roundtable program, he can also be seen on the “Minding Your Business” segment each morning on American Morning on CNN. Ali Velshi Senior Business Correspondent CNN

10:45 a.m. Networking Business Exchange & Refreshment Break in Exhibit Hall

11:15 a.m. Trading Leader’s Perspective: What Does a CEO, Head Trader and Director of Trading Have to Say About Trading Execution?

It’s no news to anyone that we’re facing some scary time in the markets. Being prepared is not just a Boy Scout motto, but one which the trader must live by and being armed with the best tools is key to trading success. This session address when to both use and not use an algorithm and why, particularly in a market this is so highly changeable. Areas covered include:

• How do algorithms work differently in a volatile market? Trading in unanticipated ways
• Algos: What’s available for this event-driven market
• Expense and high volatility: Why would we use an algorithm?
• Determining whether or not a trade is appropriate for an algorithm
• Identifying the limitations of an algorithm
• When will algos not find you the liquidity you need to gain the best fill on your trade
• Algos, ATSs, & Dark Algos: When the algorithm is a bad solution to the trade

11:45 a.m. Alpha-Bits: A Blueprint for Sourcing and Capturing Alpha in Today’s Market

• Addressing the increased importance of aligning information with
  investment strategy
• Why the paradox shift with decimalization and more electronic venues has changed the mindset of the trader: Is there a move to being average rather than wrong?
• Finding real Alpha: Assessing those traders trying to trade and those trying to get ahead of the trade
• Strategies for gaining Alpha: Will these techniques add alpha or can you they
  protect you from losing value in the solution side of the equation?

12:15 p.m. Ideas, News & Market Sentiment: How Firms are Turning Unstructured Information into Alpha

Randy Cass, CEO of First Coverage speaks about the recent trends among quant funds looking to turn previously scattered and unstructured information like sell-side ideas or news headlines into standardized data which can be incorporated and used by algo traders to generate greater ‘Alpha’.

Randy Cass CEO FIRST COVERAGE

12:45 p.m. Luncheon for Speakers & Attendees

1:45 p.m. Adapt or Die: Trading Styles for Dealing with a Fragmented Market

• Volatility and fragmentation: Do Algorithms Exacerbate the Problem?
• Standards in the Market: What the Trader is Looking For
• Program Trading: In the Search for the Average Price How does the Trader Make the Best Decision?
• Trading Style Shift: From Defensive to Aggressive Strategies: Valuing Your Trader’s Performance

2:15 p.m. Guerilla Strategies of the Trader: Trading with Clean Noise

• Moving Fast Without Moving Price
• Optimal risk management tools: Controlling greed, utilizing discipline and not impeding the trade
• Counterparty risk: Algo providers and the effect of the Bear Stearns debacle
• Optimizing exposure to dark pools from a quant perspective
• Block trades: Does “slice and dice” win?

2:45 p.m. Defining Risk in Algorithmic Trading: How Stable and Risk Averse are Algorithms?

• Is Dependency on Algotrading Good or Bad for the Trading Community?
• Identifying the Unstated Risks When Monitoring Your Algorithm
• Oops! My Algo Did Something I Didn’t Want It to Do: Technology Glitches and How the Buy-Side Trader Should Handle Them
• FIX, Algorithms and Itch & Ouch: How Do Protocols Affect the Risks in Transactions?

3:15 p.m. Networking Business Exchange and Refreshment Break in Exhibit Hall s

3:45 p.m. Operational Risk Management: Balancing the Seesaw of Risk and Reward without Racking up Losses

• Managing Transaction Cost: Setting Up Thresholds and an Optimal Execution Strategy
• The Need for Speed with High Frequency Trading: Balancing Low Latency with High Volumes and Solutions for Greater Speed
• Market Data Customization: Balancing Cost vs. Trading Gains

4:45 p.m. Why the Future still Needs the Trader

• Macro vs. micro perspective on trading: Why we still need the trader in the equation
• Avoiding the herd instinct when it comes to selection and application of algorithms
• Using the trader to add value to the investment process
• Low touch/high touch: How do you classify the trade and when using an algorithm is it truly low touch?
• Internalization of trades: What does the buy-side need to know about leakage and slippage?

4:45 p.m. KEYNOTE TRADING TRENDS ADDRESS: Quants, Traders and Algorithms: What’s the Next Big Thing?

Known as one of the Founding Fathers of Quantitative Trading, Robert Almgren, who is now with Quantitative Brokers after several years at Bank of America Securities, takes a closer look at the asset classes, their trading styles and what opportunities are available. Bringing years of experience including a number of papers on optimal trading strategies, on equity trading cost measurement, and on portfolio formation from ordering information, Dr. Almgren combines the quant strategies with trading tactics and demonstrates what today’s trader can do to maximize the market. Robert Almgren Founder QUANTITATIVE BROKERS

5:15 p.m. Networking Reception