Program

Sunday, May 4, 2008 - Wednesday, may 7, 2008

Transforming Operations

 

SUNDAY, MAY 4, 2008

 

12:00 p.m. 7:00 p.m.

Registration

 

2:30 p.m. 4:00 p.m.

Special Session for new attendees and new managers

 

Separate registration required:  email name and contact information to Theresa Andino at tandino@sifma.org

Review of SIFMA goals, Operations Committee members and activities. Also includes an overview of the resort property.

 

 

Kendra Babcock

Concierge

JW Marriott Desert Ridge Resort & Spa

 

/uploadedImages/Events/2008/ops2008/image001.jpg

John D. Panchery

Managing Director, Operations, Technology & Business Continuity

SIFMA

 

Norman Eaker

Chairman, Operations Committee

Principal, Operations

Edward Jones

5:00 p.m. 7:00 p.m.

Welcome Reception

Hosted by Thomson Reuters 

 

Monday, may 5, 2008

 

7:30 a.m. 8:00 a.m.

Continental Breakfast

Hosted by Omgeo LLC 

 

8:00 a.m. 9:45 a.m.

General Session

Hosted by Broadridge Financial Solutions, Inc. 

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 

Opening Remarks

Cheryl Geremia

Chairperson, Operations Conference

Managing Director, COO

Deutsche Bank Securities Inc.

 

 

SIFMA Report

RandySnook 

Randy Snook

Senior Managing Director, Executive Vice President

SIFMA 

 

 

Operations Committee Update

Norman Eaker

Chairman, Operations Committee

Principal, Operations

Edward Jones 

 

 

Mr. Eaker will report on the priorities and strategic goals of the Operations Committee.

 

 

The Year of Living Dangerously

BruceKasman 

Bruce Kasman

Chief Economist & Global Head of Economic Research

JPMorgan

 

 

9:45 a.m. 10:45 a.m.

Workshops

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 

Are Your Securities Operations Resilient Enough? A Business Continuity Briefing

 

 

Panel:

Alton Harvey

Chief of Office of Contingency Planning

U.S. Securities and Exchange Commission

 

 

Jon Kroeper

Vice President, Quality of Markets

Market Regulation Department

FINRA

 

Howard Sprow

Vice President, Business Continuity

SIFMA

 

 

The panel will examine the important current issues and developments in business continuity planning that will affect securities operations in 2008 and beyond.  Can the securities industry survive a pandemic?  What did we learn from the 2007 Pandemic Flu Exercise?  How will the internet perform in a pandemic?  To answer these questions the panel will explore the lessons learned from the pandemic exercise and the results of recent Homeland Security study of the performance of the telecommunications system and the internet.  The panel will explain what you need to know about the June 7, 2008 industry-wide BCP connectivity test.  The session will conclude with a look at current US BCP regulations, regulatory examination findings and future BCP regulatory trends.  Panelists will clarify the new Financial Industry Regulatory Authority (FINRA) and what it means to business continuity from a rule book perspective.

 

 

Reg SHO and Other Considerations for Short Selling

 

 

Panel:

 

Jonathan E. Breckenridge

Vice President, Securities Division Compliance

Goldman Sachs    

  

RobertMaione 

Robert F. Maione

Senior Vice President, Director of Brokerage Operations

Sanford C. Bernstein & Co. LLC    

 

/uploadedImages/Events/2008/ops2008/image001(1).jpg

Anand K. Ramtahal

Vice President

FINRA

 

 

Wendy Sylvester

Director

Deutsche Bank Securities Inc.

 

 

 

The issue of short selling and its impact on the marketplace continues to draw attention.  This workshop will highlight some of the new and proposed regulation in this area and the impact on operations. The workshop will also provide insight into areas of concern relating to compliance and best practices deployed by broker-dealers.

 

 

Offshoring/Outsourcing and Vendor Management

 

 

Panel:

William B. Aimetti

President & Chief Operating Officer

Depository Trust & Clearing Corporation

 

Cheryl Geremia

Managing Director, COO

Deutsche Bank Securities Inc.

 

 

Greg Taylor

Principal Rule Counsel

FINRA

 

 

This panel will discuss how firms can manage vendor risk, and will include a FINRA update on guidance and best practices. It will also include how firms' business models are transforming.

 

 

Vendor Workshops:  (Broadridge Financial Solutions, Inc., SunGard) 

 

 

Broadridge Financial Solutions, Inc.

 

Summary Prospectus 101: The Rule, The Perspectives, The Opportunities

 

Quarterly updates, prominence, multiple funds per prospectus: What will the Commission’s response be to questions raised during the comment period?  In this workshop, a panel of industry experts will examine the SEC’s proposed summary prospectus rule and how it may affect the creation and distribution of prospectus communications.

 

 

SunGard

 

Data Aggregation – A Key Step Toward Enterprise Data Management

 

Join SunGard for an interactive session as we explore how firms are aggregating data from multiple sources in order to achieve greater processing efficiencies, access enterprise-scale decision support information, bridge legacy technology gaps, and provide sales reps and end-customers information to make financial decisions based on a complete view of their portfolios.

 

10:45 a.m. 11:00 a.m.

Networking Refreshment Break In Workshop Rooms

 

11:00 a.m. 12:00 p.m.

Workshops

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 

Clearing Firms & Introducing Firms: Perspectives on the Current Regulatory Rules, Interpretations, Issues and Industry Initiatives

 

 

Panel:

 

Kris Dailey

Managing Director

FINRA

 

 

Jean L. Parsons

Vice President & Director of Operations

City Securities Corporation 

 

 

Lisa Rosenbaum

Chairperson, SIFMA Clearing Firms Committee

Senior Vice President, Senior Attorney-Clearing & Operations

Wachovia Securities, LLC

 

 

The timely content of this panel will include a FINRA report on the status of current rule making, guidance and interpretations and viewpoints from Clearing Firms and Introducing Firms. It will also provide updates on industry projects such as NIIDS and bulk asset transfers for data conversion events.

 

 

Product Identification Initiatives

 

 

Panel:

Michael Atkin

Managing Director

EDM Council

 

Mark Baumgardner

Vice President

Options Clearing Corporation

 

ScottPreiss 

Scott Preiss

Vice President, Securities Classifications

Standard & Poor’s

 

 

This panel will provide updates on CUSIP Initiatives, Options Symbology, and International Identification Development.

 

 

 

Changing Landscape: 2008 Privacy and Information Security

 

Panel:

PaulDoelger 

Paul Doelger

Managing Director, Privacy and Technology Compliance Officer

Pershing LLC

 

Steinhoff 

Mark Steinhoff

Principal, Enterprise Risk Services

Deloitte & Touche LLP

  

 

Panel discussions will focus on case examples of where client data was stolen, what went wrong, lessons learned, associated regulation, best practices and the future state of data security. Operational implications of the recent amendments to Reg S-P will also be covered.

  

 

Vendor Workshops: (Broadridge Financial Solutions, Inc., Fiberlink) 

 

 

Broadridge Financial Solutions, Inc.

 

Is Your New Account Process Still the Same Old Nightmare?  New Client On-Boarding with Broadridge

 

On-boarding a new client continues to be a significant challenge plaguing firms today.  The need to streamline the overall new account process and provide clear and simple documentation has caught the attention of “C” level executives.  Join us to learn how Broadridge’s comprehensive, fully-integrated solution can help you eliminate redundant data entry and improve your clients’ experience today.

 

 

Fiberlink 

 

Is your IT Staff in control of your Mobile Workers? What are they doing to protect your critical internal & client data that resides on Laptops? 

 

Your best employees carry critical data across the world. How do you ensure their laptops are protected from hackers, wireless eavesdropping, and theft? How do you prove endpoints comply with policies and regulations? How can you support more mobile workers with the same staff? Come discuss technologies and best practices that address these challenges. Think of this as a microcosm of the current state of information security. We are pushing IT harder than ever to gain additional business value and creating security vulnerabilities in the process. In the past, these risks were either misunderstood or ignored. But the number of corporations whose private data that has been exposed as a result of a data breach will soon cross the 100 million mark.

 

12:00 p.m. 2:00 p.m. 

Exhibit Hall Buffet Lunch

 

Note:  Flat Panel 32” HDTV to be raffled off during exhibit hours. Open to conference registrants only (Must be present to win.)

 

Provided by Penson Financial Services 

 

2:00 p.m. 2:30 p.m.

IBM Globalization Research Study

 

/uploadedImages/Events/2008/ops2008/image003.jpg

Suzanne Duncan

Financial Markets Industry Senior Consultant

IBM Corporation

 

 

IBM's recently completed a thirteen-month research effort, has captured the minds of executives around the world and has been highlighted in the media.  This unique study combines a survey of over 950 executives.  The study found that financial markets firms have historically avoided the commoditization trap by innovating to create new products and services. The bulk of their impressive growth has typically come from mature markets.  Yet today, growth opportunities in those geographies are evaporating, and meaningful future expansion will come from new markets.  Although the worldwide industry opportunity is expected to double by 2015 and quintuple by 2025, nine out of ten executives believe they are unprepared to take advantage of this opportunity.  Leading organizations will get global and get specialized - the rest will be forced out.

 

2:30 p.m. 3:15 p.m.

DTCC:  Delivering Certainty and Creating Possibilities

 

 

Panel:

William B. Aimetti

President & Chief Operating Officer

Depository Trust & Clearing Corporation

 

Michael C. Bodson

Executive Managing Director, Business Management, Strategy & Marketing

Depository Trust & Clearing Corporation

 

 

DTCC’s role continues to grow and expanded as the industry looks for new core capabilities (e.g., MBSCCP, IDNet,) and new services (e.g, DerivSERV, GCA, Loans, EuroCCP, off-shore Fund/SERV, SMA/AIP, Insurance,), to help decrease costs and improve risk management.  In this environment of rapidly changing demographics, new technology innovation, industry consolidation, globalization and subsequent increasing industry and regulatory pressures on risk controls and costs, DTCC is striving to redefine its roll as the industry's logical solutions provider.  This panel will review significant new products that are focused on meeting these changing client and market demands and also discuss trends and initiatives in the areas of international expansion, derivatives and marketplace consolidation. 

 

3:15 p.m. 3:30 p.m.

Networking Refreshment Break

Hosted by 

National Financial, a Fidelity Investments Company 

 

3:30 p.m. 4:15 p.m.

Directional Pathways to Success

 

/uploadedImages/Events/2008/ops2008/image004.jpg

Mark Spitz

Multiple Olympic Gold Medalist & World Record Holder

Sponsored by IBM 

 

Mark will reflect on his Olympic experiences and share his personal recommendations for success.

 

4:15 p.m. 6:15 p.m.

Exhibit Hall Reception

 

(Featuring a meet and greet with Mark Spitz) Note: Flat Panel 32” HDTV to be raffled off during exhibit hours. Open to conference registrants only. (Must be present to win.) 

 

Provided by Penson Financial Services 

 

Tuesday, May 6, 2008

 

8:00 a.m. 2:00 p.m.

Exhibit Hall Open

 

8:00 a.m. 8:30 a.m.

Exhibit Hall Continental Breakfast

Hosted by PriceMetrix Inc. 

 

General Session

Hosted by Broadridge Financial Solutions, Inc. 

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 8:30 a.m. 9:45 a.m.

Regulatory Panel

 

 

Moderator:

Judy Poppalardo

Partner

Financial Industry Service Group LLC

 

 

Panel:

/uploadedImages/Events/2008/ops2008/image005.jpg

Robert L.D. Colby

Deputy Director, Division of Trading and Markets

U.S. Securities and Exchange Commission

 

Steven Joachim

Executive Vice President, Transparency Services and International Affairs and Services

FINRA

 

 

Harold L. Johnson

Deputy General Counsel

MSRB

 

/uploadedImages/Events/2008/ops2008/image006.jpg

 

Grace B. Vogel

Executive Vice President, Member Regulation

FINRA

 

 

The latest updates based on topical issues will be provided by senior regulators. The panel will also cover rule harmonization, regulatory reform, and rule initiatives as well as examination findings and priorities. 

 

9:45 a.m. 10:45 a.m.

Workshops

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 

Operations: This is Your Life

 

 

Panel:

 

Pamela I. Faber 

Managing Director, Human Resources

SIFMA

 

Thomas Ferlazzo

Executive Director, Operations

UBS

 

Gussie Tate

First Vice President

Wachovia Securities, LLC

 

 

This panel will discuss the evolvement of skill sets for operations personnel as well as how the priorities of required skills have shifted. Some of the questions it will provide answers to; What processes do you have in place that develop talent within service teams, processing teams and operations analysts?; What skill sets are currently coming out of universities?; What are the gaps vs. the required/desired skill sets for firms and how can they be overcome? 

 

 

Corporate Actions Regulatory & Reengineering Outlook

 

 

Panel:

 

John Binder

Vice President

Pershing

 

/uploadedImages/Events/2008/ops2008/image005.jpg

Robert L.D. Colby

Deputy Director, Division of Trading and Markets

U.S. Securities and Exchange Commission  

 

 

Daniel Thieke

Director

Depository Trust & Clearing Corporation

 

 

John Wagner

Director

Morgan Stanley

 

 

This workshop will provide an overview of Corporate Actions initiatives and regulatory issues, which are currently challenging our industry. Topics will include, Corporate Actions Division Industry Initiatives, SEC Reg M&A Enhanced Data Elements and Standardization from Issuers, SEC Regulatory update and recent developments in Proxy, DTCC Corporate Actions Re-engineering.

 

 

A View from Regulatory Enforcement (Will be repeated at 11:00)

 

 

Panel:

 

Linda Riefberg

Vice President

FINRA

 

 RichardWallace

Richard Wallace

Vice President and Chief Counsel

FINRA

 

 

Joy Weber

Executive Director of Regulatory Affairs

UBS

 

 

A regulator's view of enforcement and a discussion of how operational procedures impact enforcement decisions.  This panel will also cover case studies, lessons learned for firms and corrective measures associated with supervisory procedures and controls. 

  

 

Vendor Workshops:  (PricewaterhouseCoopers LLP, Scivantage)

 

 

PricewaterhouseCoopers LLP – Rogue Trading - How to Successfully Manage Risk

 

Panel:

 

Carmine Barbato

Director

PricewaterhouseCoopers

 

 

C. Steven Crosby

Managing Director

PricewaterhouseCoopers LLC

  

Scivantage - Automated Account Opening: 

 

Optimizing New Business Establishment For Your Firm

 

 

Moderator:

 

Michael Wiatrak

Senior Vice PresidentScivantage

 

Panel:

 

Kyle Mallot

Client Services Officer

DST Systems

 

 

Joe Stensland

Senior Vice PresidentScivantage

 

 

Richard Walker

President and Co-FounderEfficient Technology, Inc.

 

An interactive panel discussion offering insight into the latest technology innovations and best practices in automated account establishment, electronic funding and forms fulfillment.  Moderated by Scivantage, this industry panel will explore the key factors to optimizing the costly and cumbersome process of opening new accounts across multiple product types and in support of multiple brokerage channels.  Learn how automating the data collection, approval, funding and submission process, can reduce the overall cost on each account opened, increase the conversion rate on new accounts and improve the level of customer service provided to clients. 

 

10:45 a.m. 11:00 a.m.

Networking Refreshment Break In Workshop Rooms

Hosted by PricewaterhouseCoopers LLP 

 

11:00 a.m. 12:00 p.m.

Workshops

 

 

General Sessions are considered on the record. Workshops are open to the media, but comments by participants are considered to be not-for-attribution to individuals or firms.  Reporters are welcome to ask participants after the session to put their specific comments on the record.

 

 

Account Transfers in a Transforming Industry

 

 

Panel:

/uploadedImages/Events/2008/ops2008/image007.jpg

Bill Kapogiannis

Director, Product Marketing & Development

Depository Trust & Clearing Corporation

  

/uploadedImages/Events/2008/ops2008/image003(1).jpg

Kevin McCosker

Director

Pershing LLC

 

/uploadedImages/Events/2008/ops2008/image008.jpg

Kristie Thompson

Group Leader

Edward Jones

 

 

Derek Yen 

Vice President

National Financial, a Fidelity Investments Company

 

 

Transfers encompass complex and challenging processes such as the settlement and custody of international securities, mutual funds, and option contracts.  Transitioning associated transfer applications to meet the demands of the industry is the focus of several current initiatives.

 

Listen to industry experts describe how option Symbology changes will effect ACATS and learn about cross border settlement solutions that will help reduce costs to firms. Included in this session will be announcements on enhancements to the transfer process such as bulk transfers and connectivity between brokerage firms and mutual fund companies.

 

 

A View from Regulatory Enforcement (Repeated)

 

 

Panel:

 

Linda Riefberg

Vice President

FINRA

 

 RichardWallace 

Richard Wallace

Vice President and Chief Counsel

FINRA

 

 

Joy Weber

Executive Director of Regulatory Affairs

UBS

 

 

A regulator's view of enforcement and a discussion of how operational procedures impact enforcement decisions. This panel will also cover case studies, lessons learned for firms and corrective measures associated with supervisory procedures and controls.

  

 

 

Globalization of Markets: a European Perspective and How the Changes There May Impact Your Business Here

 

 

Panel: 

DennisGoodenough 

Dennis E. Goodenough

Senior Business Manager - Securities Initiative, Americas

SWIFT Pan-Americas, Inc.

Neil Henderson

Managing Director

Depository Trust & Clearing Corporation

 

 

John Nordstrom

Chief Representative

Euroclear Bank

 

 

This panel will cover the following topics:

 

  • DTCC’s emergence in Europe and the impact of European Commissions Code of Conduct on interoperability and business opportunities for central counterparties.
  • The consolidation of Euroclear's domestic platforms and the impact of the impending ECB's T2S inititiative on settlement of securities in the eurozone and beyond.
  • The elimination of Giovanni Barrier 1 in Europe and how this relates to the support and development of Global messaging standards ISO15022/20022 for all cross-border participants.

 

 

Vendor Workshops:  (Interactive Data, Capgemini)

 

 

Interactive Data  - Managing Total Cost of Ownership in Today's Market Data Environment

 

 

Panel:

 

Shawn Quant

Managing Director, Chief Information Officer

Piper Jaffray & Co.

 

 

 

Matt Spedden

Senior Director, Institutional Desktop Services

Interactive Data

 

Larry Tabb

Founder & CEO

Tabb Group

 

 

Brokerage firms’ market data costs are being driven up by a number of factors, including growing volumes, market fragmentation and the demands of increasingly sophisticated end-users.  Managing these costs can be a significant problem requiring more than one solution.  At one end of the spectrum, algorithmic traders are demanding sub-millisecond latency.  Simultaneously, many brokers are supporting thousands of financial advisor workstations, along with hundreds of thousands of end clients who have come to expect live web tools.  The key is to get the right fit for each user.

 

This panel will discuss ways in which brokers can help satisfy the full scope of market data users in an efficient, cost-effective manner.  It will cover various departmental requirements within a brokerage firm and options to help address those needs, ranging from co-location to data conflation to hosted solutions.   

 

 

Capgemini - Creating a Centralized Data Distribution Center to Fuel Compliance, Operations, and Competitive Advantage

The ability to efficiently distribute clean, consistent, accurate, and timely data is critical to enabling your firm to gain competitive advantage from its information assets. Capgemini will review its approach to creating a centralized data distribution center and governance framework, providing effective control without slowing processing time.  Our approach improves accuracy and efficiency in trading, risk management, compliance, and research operations, and provides a foundation for launching strategic, information-based initiatives such as visual analytics, predictive analytics, and complex event processing.
 

12:00 p.m. 2:00 p.m.

Exhibit Hall Buffet Lunch

Hosted by Broadridge Financial Solutions, Inc. 

 

 

Note: Flat Panel 32” HDTV to be raffled off during exhibit hours. Open to conference registrants only. (Must be present to win.)

 

Provided by Penson Financial Services 

 

Wednesday, may 7, 2008

 

8:00 a.m. 8:30 a.m.

Continental Breakfast

 

General Session

Hosted by Broadridge Financial Solutions, Inc. 

 

8:30 a.m. 11:00 a.m.

Legislative & Political Report

 

 

Richard Hunt

Senior Managing Director, Government Affairs

SIFMA

 

 

Mr. Hunt will provide a legislative update on the many matters impacting our business and share his unique perspective on the congressional races and the presidential race. 

 

 

Fraudulent Losses - When will we Learn? 

 

 

Moderator:

 

Joseph Anastasio

Partner

Capco

 

 

Panel:

 

 

Vicky Allard

Head of Operations Risk

Goldman Sachs

 

   RobertMooney 

Robert Mooney

Chief Business Risk Officer, Global Wealth Management

Merrill Lynch

 

 

Maurisa Sommerfield                         

Executive Vice President

Charles Schwab & Co., Inc.

 

 

This session will cover how to avoid letting fraudulent losses happen to you and things your firm needs to do to ensure operating risk best practices.

 

 

Operational Risk:  Unexpected and Expected Losses

 

 

Moderator: 

 

Patrick Mooney

Managing Director, Fixed Income Operations

SIFMA

 

 

Panel: 

David Catenazzo

Managing Director, Risk Strategy & Planning Global Operations

Banc of America Securities LLC

 

Douglas J. George

Managing Director & Chief Risk Officer

Depository Trust & Clearing Corporation

 

 

Michael Patterson

First Vice President

Merrill Lynch

 

 

This panel will discuss how firms structure their risk groups and plans of action in the current market environment. Topics include:

 

  • How consistency and cohesive approach improves risk management effectiveness.
  • How operational risk management structures evolve/respond in an increasingly complex environment?
  • Actionable strategies and structure for effective risk management.
  • Ramifications of a ratings change within the risk operations of a firm.

  

11:00 a.m.

Conference Concludes

   


 

SIFMA also thanks the following sponsors for supporting the

2008 Operations Conference & Exhibit: 

 

Contributors - BearingPoint, Inc., JPMorganPAETEC Communications Inc. 

Wall Street Journal Room Drop - Provided by Bernard L. Madoff Investment Securities LLC

Do Not Disturb Sign - Provided by Broadridge Financial Solutions, Inc.

Hotel Room Key Card, Lanyard & Tote Bag - Provided by The Davidsohn Group

Attendee Notebook - Provided by Deloitte LLP 

Exhibit Guide - Provided by First Clearing Correspondent Services

Exhibit Hall Door Prizes - Provided by Penson Financial Services

Cyber Café Internet Hotspot - Provided by Pershing LLC