SIFMA's Operations Conference and Exhibit 2008

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
	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
	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
	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
	Robert F. Maione Senior Vice President, Director of Brokerage Operations Sanford C. Bernstein & Co. LLC
	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
	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:
	Paul Doelger Managing Director, Privacy and Technology Compliance Officer Pershing LLC
	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
	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
	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:
	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
	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
	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
	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:
	Bill Kapogiannis Director, Product Marketing & Development Depository Trust & Clearing Corporation
	Kevin McCosker Director Pershing LLC
	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
	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:
	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
	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