tUESDAY, jUNE 10, 2008 |
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Press Room –
2nd Floor Promenade
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11:00 a.m. |
Registration Opens – 2nd Floor Promenade
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Noon |
Exhibit Hall Opens – 2nd Floor Promenade
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Exhibit Hall Refreshments
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2:00 – 4:00 p.m. |
Opening General Session – Trianon Ballroom, 3rd Floor
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Welcome and Opening Remarks |
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T. Timothy Ryan, Jr. President & CEO Securities Industry and Financial Markets Association SIFMA |
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Mr. Ryan will introduce the Conference and provide insight and overall industry information. |
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View From an Industry CEO |
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Seth Merrin CEO Liquidnet, Inc. www.liquidnet.com |
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Mr. Merrin will discuss the advancements that are propelling many of the changes happening in the industry today. Specifically, he will address the newfound view that co-opetition between traditionally competitive forces may just open up the industry to even greater capabilities and long term growth. Ten years ago approximately 70% of orders from institutional traders went to Wall Street block trading desks...today, that number is approx. 28%, with electronic venues absorbing the difference. Liquidnet allows money management institutions to trade large blocks of equities directly and anonymously with significant price improvement and little-to-no market impact. Liquidnet launched in 2001, and the company now enables its Members to trade in 29 equity markets globally. Their average daily share volume reached 73 million shares in Q4 2007 with an average execution size of 54,000 shares. |
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What's Going on at NYSE Euronext |
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Lawrence Leibowitz Group EVP, Head of US Markets & Global Technology NYSE Euronext www.nyx.com |
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Many innovative changes have happened at NYSE Euronext. Mr. Leibowitz will address the current environment and what the future holds. NYSE Euronext brings together 6 cash equities exchanges in 5 countries and 6 derivatives exchanges, and is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. |
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Innovations for Tomorrow's Financial Services |
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Steve Mills Senior Vice President and Group Executive IBM Software Group www.ibm.com |
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In the face of commoditization and fierce competition, financial institutions have continued to thrive by innovating and deploying advanced technologies. Firms have long benefited from the edge provided by proprietary information access and market insight, but these advantages will come under significant pressure over the next decade as two inexorable trends accelerate: transparency and speed. Mr. Mills will discuss the innovative solutions today's leading firms are deploying to drive sustainable growth, manage risk, and achieve competitive advantage. |
4:00 – 6:00 p.m. |
Exhibit Hall Reception |
Wednesday, jUNE 11, 2008 |
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Press Room – 2nd Floor Promenade
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7:30 – 8:00 a.m. |
Continental Breakfast – Trianon Ballroom Foyer, 3rd Floor |
8:00 – 9:30 a.m. |
General Session – Trianon Ballroom, 3rd Floor |
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Don Tapscott Chairman nGenera Innovation Network www.ngenera.com |
9:30 – 9:45 a.m. |
Refreshment Break |
9:45 – 10:45 a.m. |
Concurrent Workshops – Round 1 The following 60-minute workshops will be conducted twice, enabling Conference registrants to attend any two of their choosing. Note to Editors/Reporters: Most 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 to put their specific comments on the record after the session. |
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Driving IT Cost Reduction: A Practical Application of ITIL and Metrics Clinton Suite, 2nd Floor |
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Peter Collins Managing Director NYSE Euronext www.nyx.com |
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James Jankowski Director The Bank of New York Mellon www.bnymellon.com |
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David Mainville Chief Executive Officer and Co-Founder Consulting-Portal Inc. www.cportalinc.com |
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IT Organizations are under increasing pressure to reduce costs and increase efficiency. The challenge most organizations have is knowing where to focus. A recent survey shows that few organizations have formal IT metrics and IT governance in place. This lack of focus has resulted in significant waste and inefficient allocation of IT resources. This presentation will provide practical techniques for establishing a metrics and governance program tied to IT cost reduction. Topics will include: - ITIL Lite: focusing on thetactical and practical
- Selecting and defining the right metrics
- The use of scorecards and dashboards to identify waste
- Techniques for driving “cost reduction” behavior
- The applicability of benchmarking
- Aligning metrics to your ITcompliance requirements
The emphasis of this presentation will be on how to apply these techniques quickly and with minimal overhead. The goal is to provide you with the capability to take action! |
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Information Technology Risk Convergence Rendezvous Trianon, 3rd Floor |
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Daniel E. Geer, Jr. Principal Geer Risk Services, LLC www.geer.org |
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Ted Jestin Chief Information Security Officer Lehman Brothers Inc. www.lehman.com |
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Phil Venables Managing Director, Chief Information Risk Officer The Goldman Sachs Group, Inc. www.gs.com |
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Robert Vitali Managing Director - Chief Information Security Officer Morgan Stanley www.morganstanley.com |
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Information and technology security risks continue to be, correctly, seen as key enterprise risks. Increasingly, however, the inter-play of the broad category of operational risks from resiliency, compliance, data management, fraud, privacy, capacity, concentration and security risk raise a number of issues both around converged management of these risks and whether these risks and their associated controls are complementary or opposing. The panel will discuss this topic and answer the following questions: Should Information Security and Business Continuity be housed in the same organization or risk program?Does resilience decrease security and security increase brittleness? How do you see Information/Technology risk evolving with other operational risks to enable the type of risk quantification we see in Market and Credit Risk How would the Compliance function of the future assist with the Information Security mission? What's on your mind for the next 5 years? Are these risks unique to the financial sector? What of convergence of physical and information security risk management - is this worth it? Are the security and control benefits of centralized and standardized homogenous management of infrastructure worth the concentration risks that might bring?
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Symbology – What You Need to Know Madison Suite, 2nd Floor |
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Moderator |
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Manisha Kimmel
Executive Director Financial Information Forum
www.jandj.com |
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Mark Baumgardner
Vice President Business DevelopmentThe Options Clearing Corporation www.theocc.com
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Michael Mollemans
Senior Vice President, Head of Electronic Execution Sales
Daiwa Securities America Inc.
www.daiwa.com |
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Ed Obuchowski
Vice President Market Data SolutionsCharles Schwab & Co., Inc. www.schwab.com
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Proposed changes to equities and options symbology will require significant resources on the part of industry participants and will impact systems across the entire trade process. The session is intended give participants an opportunity to explore implementation approaches and highlight open issues. Exchange Symbology Plans and the Options Symbology Initiative will be discussed. |
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Emerging Computing Infrastructures - Supply Side and Demand Side Perspectives Mercury Ballroom, 3rd Floor |
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Jeffrey M. Birnbaum Managing Director, Chief Technology Architect and Global Head of Architecture and Engineering Merrill Lynch & Co. www.ml.com |
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Dr. Tom Bradicich IBM Fellow and VP Systems Technology IBM Corporation www.ibm.com |
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Continuing advances in all aspects of information technology, including virtualization, web 2.0 social/business communities and highly scalable server grids are driving the emergence of powerful IT infrastructures that will increase the numbers of consumer and business services by several orders of magnitude. This increase in services will be accompanied by very large growth rates in digital data, resulting in unprecedented volumes to be accessed, analyzed, and acted upon. New and emerging virtual IT infrastructures are generally built with standard computing and storage components - hundreds of thousands going to millions - and will connect to billions of user devices, sensors and existing IT infrastructures and other types of platforms. This session will address several emerging computing infrastructures and platforms such as containers, cloud computing, stateless systems, ensembles, and those optimized for low power and density. The opportunities and characteristics of each infrastructure will be discussed as well as the challenges in realizing their full potential in the financial markets. |
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The Sub-prime Debacle and Its Impact on Industry IT Petit Trianon, 3rd Floor |
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Larry Tabb Founder & CEO TABB Group www.tabb.com |
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First there was sub-prime, then the MBS, ABS, ABCP, and Auction Rate Note markets seized, followed by massive industry write downs, and the Bear Stearns fiasco. This talk will look at the sub-prime fallout and its impact on firms’ technology infrastructure. We will focus on how firms are going to realign their technologies strategies to recuperate from the past year’s challenges as well as where firms are looking to invest to take advantage of the industry dislocations. |
11:00 – Noon |
Concurrent Workshops – Round 2 The above workshops will be conducted a second time to enable Conference registrants to attend any of their choosing. |
Noon – 2:00 p.m. |
Afternoon Refreshments in Exhibit Hall |
Noon – 1:30 p.m. |
Luncheon Meeting – Trianon Ballroom, 3rd Floor Formal Luncheon with Conference Delegates |
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Software Security: State of the Practice 2008 |
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Gary McGraw Chief Technology Officer Cigital www.cigital.com |
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Using the framework described in his book, "Software Security: Building Security In"--built around the three pillars of software security: risk management, the touchpoints, and knowledge--- Mr. McGraw will discuss and describe the state of the practice. His talk will use real data from the field, based on his work with several large financial services companies as a Cigital consultant. "The software security field is just getting started, but we are making important forward progress, and the future looks bright." |
1:45 – 2:45 p.m. |
Concurrent Workshops – Round 1 The following 60-minute workshops will be conducted twice, enabling Conference registrants to attend any two of their choosing. |
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Enterprise Risk Management Framework Madison Suite, 2nd Floor |
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Julio Gomez CEO Gomez Markets www.gomezmarkets.com |
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This session will address how the three pillars of risk -- Credit Risk, Market Risk, and Operational risk -- combine into a holistic Enterprise Risk Management framework. In addition, the current state of risk management capabilities deployed at securities firms in key risk areas; the impact of regulatory imperatives on the development of risk management systems; and the vision for combining disparate systems into an enterprise risk management capability that allows a higher level of security, supervision, and capital optimization will also be addressed. |
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Capacity Growth- Evidence, Warnings and Alternatives Petit Trianon, 3rd Floor |
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Michael H. Boston Principal, Trade Support Group Operations Manager Securities Bank of America www.bofasecurities.com |
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Jacob Granek Managing Director Depository Trust & Clearing Corporation www.dtcc.com |
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Thomas J. Jordan President & CEO Jordan & Jordan www.jandj.com |
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Increased volatility and automation are straining system capacity from a market data and transaction processing perspective. This session will include a discussion of the market statistics, techniques for measuring the growth and some potential solutions. |
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eMail Archiving & Management - An Impossible Necessity Clinton Suite, 2nd Floor |
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Alan Pelz-Sharpe Principal CMS Watch www.cmswatch.com |
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eMail is arguably the most important business application that any organization runs, yet bringing control to the email flood, remaining compliant with increasingly unforgiving regulations and making sense of divergent technology solutions to tame the email beast is a near impossible undertaking. Drawing upon current independent and global research, this session will share best and worst practices along with a no holds barred examination and evaluation of the current archiving and management technologies in the marketplace. All financial service organizations have to manage and archive emails, but doing it efficiently and with the right tools currently eludes many. |
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Technology and Compliance: Friends or Foes? Rendezvous Trianon, 3rd Floor |
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Moderator Kevin Lupowitz
Chief Technology Officer
Liquidnet, Inc.
www.liquidnet.com |
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Betsy Lefler Deputy Director of Compliance Piper Jaffray & Co. www.pjc.com |
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Paul May Deputy Chief Compliance Officer/Director Cowen and Company www.cowen.com |
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Stephen Taylor
Managing Director, Regulatory Insight
Complinet
www.complinet.com |
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Over the past several years, compliance has evolved from a traditionally advisory role to a unit responsible for establishing a culture of compliance throughout the business. Complying with regulations and following best practices encompasses such fundamentals as: documenting everything, assessing and monitoring to control risk, communicating with the firm’s business units and with regulators, and updating policies to keep current with changes in regulation and activities of the firm. Multiple regulators, continuous regulatory developments, budget and staffing restrictions and, to some extent, even technology have contributed to the challenges that a compliance department faces on a daily basis when practicing these fundamentals. While some may say that technology is part of the problem, it is actually the key part of the solution. For both large and small firms, technology has greatly alleviated many of these barriers, and paved the way for successful compliance. In this session, you will hear from a panel of experienced practitioners on the impact of technology, both positive and negative, and how it has changed the way today’s firms practice compliance. |
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Open Source – An Update Mercury Ballroom, 3rd Floor |
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Moderator |
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Daniel Flax Managing Director, Chief Information Officer Cowen & Co. www.cowen.com |
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Roger Burkhardt President & CEO Ingres Corporation www.ingres.com |
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Randy Hergett Director of Engineering for the Open Source & Linux Organization Hewlett-Packard Company www.hp.com |
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Roger Levy Senior Vice President, General Manager Open Platform Solutions Novell www.novell.com |
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Marcus Rex Chief Technology Officer The Linux Foundation
www.linux-foundation.org |
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Michael Tiemann Vice President, Open Source Affairs Red Hat, Inc. www.redhat.com |
3:00 – 4:00 p.m. |
Concurrent Workshops – Round 2 The above workshops will be conducted a second time to enable Conference registrants to attend any of their choosing. |
4:00 – 6:00 p.m. |
Exhibit Hall Reception
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Thursday, jUNE 12, 2008 |
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Press Room – 2nd Floor Promenade |
8:30 – 9:00 a.m. |
Continental Breakfast – Trianon Ballroom Foyer, 3rd Floor |
9:00 – 11:30 a.m. |
Closing General Session – Trianon Ballroom, 3rd Floor |
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Next Generation Electronic Trading: Infrastructure As A Competitive Advantage |
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Moderator |
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Courtney Doyle FPL Operations Director Jordan & Jordan www.jandj.com |
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Stuart Breslow Chief Executive Officer Townsend Analytics www.taltrade.com |
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John Goeller Director, Portfolio and Automated Trading Merrill Lynch & Co. www.ml.com |
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Chris Isaacson Chief Operating Officer and Senior Vice President BATS Trading www.batstrading.com |
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Yuri Salkinder Director, Equity Technology Credit Suisse
www.credit-suisse.com |
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Growth in electronic trading and market data volumes challenge the industry's underlying technology infrastructures. Complex regulatory requirements are increasing while organizations are concerned with integration, capacity, latency and stability. As they continue to expand their product offerings in coping with such challenges, firms focus on dark liquidity access, algorithmic trading and multi-asset trading. This panel will discuss current hurdles in the marketplace and solutions around managing your trading infrastructure and vendor integration strategies using tools like FIXatdl. Electronic Trading has evolved from mere efficiency to being a competitive advantage. |
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Thomson and Reuters – A Merger & Integration Update |
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Christopher Perry President, Americas Thomson Reuters www.thomsonreuters.com |
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Debra Walton Global Head of Market Development Thomson Reuters www.thomsonreuters.com |
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Representatives from Thomson and Reuters will discuss their plans for the consolidation and their integrated products and services. |
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Due Diligence Versus Management Control-Which Would You Rather Have? |
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Jennifer L. Bayuk
Information Security Specialist www.bayuk.com |
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This session addresses the prevailing practice for management to bring in the subject matter experts to assess whether vendors handle information in accordance with requirements for confidentiality, integrity, and availability. The premise is that, the further due diligence gets away from management control, the more the assessors interpose their own requirements on the process. The reason for this phenomenon is that due diligence subject matter experts, accountable only for opinions with respect to a vendor, but not for actual data handling processes, seek safe haven in rote reviews using repeatable processes. By nature, these rote reviews do not take into account the specific situations wherein firms contract for services provided by unique vendors. They use general IT Control principles as criteria for safe data handing rather than identifying whether the firm’s own management has control over the use of their own information. |
11:30 a.m. |
Conference Adjournment |
SIFMA also thanks the following sponsors for supporting the
2008 Technology Management Conference:
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Next Year’s Technology Management Conference & Exhibit June 23-25, 2009 (Tuesday – Thursday) the Hilton New York
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