SUNDAY, APRIL 26, 2009 |
12:00 p.m. - 7:00 p.m. | Registration Great Hall Foyer |
5:00 p.m. - 7:00 p.m. | Welcome Reception South Palm Court |
| Hosted by Thomson Reuters BETA Systems
|
Monday, April 27, 2009 |
8:00 a.m. - 8:30 a.m. | Continental Breakfast Great Hall Foyer |
| Hosted by DTCC |
8:30 a.m. - 12:00 p.m. | general session Great Hall 1-2 |
| Hosted by Broadridge Financial Solutions, Inc.
|
8:30 a.m. | Opening Remarks |
 |
Ken Cameranesi
Chairman, Operations Conference, Executive Vice President & Chief Operating Officer
Wells Fargo Investments LLC |
| Leadership at the Crossroads |
.jpg) | Randy Snook
Executive Vice President
SIFMA |
| Managing Risk in a Challenging Environment |
| | Mr. Donahue will share his vision for DTCC including its global expansion of products and services, protecting market integrity, and improving levels of customer service to participants. |
| Donald F. Donahue
Chairman & Chief Executive Officer
Depository Trust & Clearing Corporation
|
| Operations Perspectives - Past, Present and Future |
| | SIFMA operations leaders present the foundation for this key industry conference. They will discuss how SIFMA's operations committees have responded to recent market events, what major operational hurdles still need to be overcome, and an overview of the goals and priorities for the remainder of 2009 and beyond. |
| | Moderator: |
| | Ken Cameranesi
Chairman, Operations Conference, Executive Vice President & Chief Operating Officer
Wells Fargo Investments LLC |
| | Panel: |
| | Gary Chan
Executive Director, Fixed Income
UBS Investment Bank |
 | Steven Chittenden
CFA, Vice President & Director of Investment Operations
Loomis, Sayles |
 | Cheryl Geremia
Managing Director
Morgan Stanley |
10:15 a.m. - 10:30 a.m. | Networking Break - Great Hall FoyerHosted by SIX Telekurs USA Inc. |
| | pitchforks or policy |
| | Scott DeFife
Senor Managing Director, Govenment Affairs
SIFMA |
| | Mr. DeFife will provide an update on the latest developments and mood regarding the outlook for regulatory reform and other actions that could impact the operations of the market. |
| The FRBNY and FDIC on Recent Actions Taken to Address the Market Crisis |
| | Listen to representatives from the Federal Reserve Bank of New York and Federal Deposit Insurance Corporation discuss recent actions taken by the government to address the market crisis. Hear how the Fed has responded through various facilities such as it Term Securities Lending Facility (TSLF), the Commercial Paper Funding Facility (CPFF) and other programs developed to address general market liquidity and credit availability. Also, hear how the FDIC has responded to the market crisis through its debt guarantee program and its recent proposed Legacy Loans Program (LLP) as part of the Public-Private Investment (PPIP) initiative. |
| | Moderator: |
| | Robert Toomey
Managing Director and Associate General Counsel
SIFMA |
| | Panel: |
 | Christopher Burke
Vice President, Markets Group
Federal Reserve Bank of New York |
| | Diane Ellis
Deputy Director, Financial Risk Management & Research
Federal Deposit Insurance Corporation
|
| Outlook for the Economy & Markets |
| Joseph V. Battipaglia
Market Strategist, Private Client Group
Stifel Nicolaus |
12:00 p.m. - 6:30 p.m. | Exhibit Hall Open - Great Hall 3-6 |
12:00 p.m. - 2:00 p.m. | Exhibit Hall Buffet Lunch - Great Hall 3-6 |
| | Hosted by Clearstream Banking
|
2:00 p.m. - 3:00 p.m. | Breakout Sessions |
| | Panel 1 |
| | Options Symbology: Industry Testing Atlantic 2 |
| | This panel of experts will highlight the Options Symbology Initiative. Topics will include testing perspectives from the different industry participants. Testing overviews will include certification testing as well as scripted industry testing. Changes to the large options position report and electronic blue sheets will also be outlined. |
| | Moderator: |
| | Walter Roesch
Director
Merrill Lynch, US Clearing Services |
| | Panel: |
| | Mark Grinbaum
Director, External Interfaces
International Securities Exchange |
| | David Harrison
Vice President, Member Services
Options Clearing Corporation |
| | Pat A. Scaglione
Senior Director
Broadridge Financial Solutions, Inc. |
| | Panel 2 |
| | Bank Supervision from the Federal Reserve Bank of New York Regency 2 |
| | Interested in knowing more about the role of Federal Reserve Banking Supervision? Representatives from the Federal Reserve Bank of New York's Bank Supervision Group will give their perspectives on the evolving role of banking supervision in the financial markets oversight process with a focus on the overall infrastructure of critical operational functions. |
| | Moderator: |
| | Thomas Ferlazzo
Senior Examiner
Federal Reserve Bank of New York |
| | Panel: |
| | Steven Pesek
Senior Examiner
Federal Reserve Bank of New York |
| | Robert Rinaldi
Supervising Examiner
Federal Reserve Bank of New York |
| | Panel 3 |
| | an update from the Fixed Income Clearing Corporation and a discussion regarding the tmpg fails charge trading practice Regency 1 |
| | FICC staff will discuss with the buyside upcoming changes at FICC including Central Counterparty implementation for MBS and the inclusion of buyside participants as members to FICC's GSD. Also, hear how FICC has responded to market developments and how it has assisted with implementation of the TMPG's Fails Charge Penalty trading practice. Also, hear of the work of the Buyside with regards to the recommended Fails Charge Practice.
|
| | Moderator: |
 | Murray Pozmanter
Managing Director
Depository Trust & Clearing Corporation |
| | Panel: |
| | Elke Jakubowski
Vice President, Fixed Income Clearing and Settlement
Depository Trust & Clearing Corporation |
| | Chris Moran
Vice President
Depository Trust & Clearing Corporation |
 | Julia Warren
Senior Managing Director
New York Life Investment Management, LLC |
| | Panel 4 |
| | Corporate Actions: Key industry initiatives addressing risk and efficiency Regency 3 |
| | Subject matter experts will discuss the initiative to promote the use of XBRL for standardization at the announcement source, DTCC's initiative to automate survivor options processing and the results of an industry task force on addressing the problems associated with late and amended calls. |
| | Moderator: |
 | Michael Finck
Managing Director, Global Corporate Actions
The Bank of New York Mellon |
| | Panel: |
| | John Binder
Vice President
President, SIFMA's Corporate Actions Division
Deutsche Bank Securities |
 | Max Mansur
Global Market Manager, Asset Servicing
SWIFT |
| | Lori Trezza
Vice President
Depository Trust & Clearing Corporation
|
| | vendor workshops |
| | Panel 1 |
| | Broadridge financial solutions, inc. Atlantic 1 |
| | Outsourcing in Today’s Changing Marketplace |
| | Are you wondering how you can improve your firm’s bottom line in a marketplace characterized by diminished margins, higher operating expenses, and increased regulatory oversight? Join Broadridge segment Presidents Charlie Marchesani of Securities Processing Solutions (U.S.) and Joe Barra of Ridge Clearing & Outsourcing to learn more about how Broadridge’s outsourcing solutions can help firms improve efficiency and performance in today’s turbulent market. |
| | Panel 2 |
| | Enterprise Iron - Financial Industry Solutions, Inc. Atlantic 3 |
| | The world of Mutual Funds and Retirement Accounts What’s new from Washington and the retirement industry. This session will cover the operational and technology impacts from recent legislative and regulatory activity including plan document design changes, fiduciary updates, fee disclosures, 403(b) regulations, defined benefit rules and their implications for IRAs, RMD options for 2009, and the upcoming Roth conversion opportunity. The session will also offer an overview of current industry trends including litigation and investigations, new product developments, new broker / advisor distribution models, industry consolidation, market volatility, and PPA implementation. These topics will be viewed through the lens of the operations and technology organizations and will provide updates on mandated changes as well as likely product and distribution channel changes that may be on the horizon. |
 | Cynthia Hayes
Sponsored by Enterprise Iron Financial Industry Solutions |
3:00 p.m. - 3:15 p.m. | Networking Refreshment Break – In Workshop Rooms |
3:15 p.m. - 4:15 p.m. | Breakout Sessions |
| | Panel 1 |
| | Short Selling: Lessons LEarned & the road ahead Regency 2 |
| | The panel will discuss the recent amendments to Regulation SHO and their impact on the industry. Attendees will also receive a preview of the potential final rulemaking soon to be released. |
| | Moderator: |
 | Jeffrey C. Bernstein
Managing Director
JPMorgan Clearing Corp. |
| | Panel: |
| | James Brigagliano
Deputy Director, Division of Trading and Markets
U.S. Securities and Exchange Commission |
| Irving J. Klubeck
Managing Director
President, SIFMA's Securities Lending Division
Pershing LLC |
| | Panel 2 |
| |
DTCC new and enhanced services in Equity Clearance, Wealth Management and Distribution services Regency 3 |
| | Insurance and Retirement Services web-based applications and real time messaging services will be the focus of this session and include: - Recently launched Alternative Investment Products (AIP) service that provides settlement of hedge fund and REIT subscriptions and redemptions and also automates the transmission of post-trade account information to custodians and broker/dealers
- Recent expansions to NSCC's Exchange Traded Funds product, the new Obligation Warehouse and plans to modernize its trade capture application
- In addition, Omgeo, LLC, a 50% owned subsidiary of DTCC, will provide an update on two new initiatives designed to eliminate much of the paper in the transmission and storage of institutional equity and fixed income trade confirmations.
|
| | Moderator: |
| Bill Kapogiannis
Director, Product Marketing & Development
Depository Trust & Clearing Corporation |
| | Panel: |
| Mark Lancaster
Vice President, Product Management
Depository Trust & Clearing Corporation |
 | Lee Cutrone
Managing Director, Industry Relations
Omgeo LLC |
| | Jamie Taylor
Director & Senior Relationship Manager
Depository Trust & Clearing Corporation |
| | Panel 3 |
| | Raising Needed Cash to Operate the Government Through Regular and Predictable Treasury Auctions, Making T-Auctions Safe and Secure through Business Continuity Planning Atlantic 2 |
| | Representatives from the U.S. Department of the Treasury and the Federal Reserve Bank of New York will address the process through which Treasury announces, auctions, and issues securities to raise needed cash for Government operations. The discussion will touch on such topics as Treasury's operational program for ensuring that a robust auction system is in place and continuously upgraded, as well as its relationship with the Federal Reserve Bank of New York, and the work being done to ensure that Treasury auctions can be conducted during a contingency. |
| | Moderator: |
| | Michael W. Sunner
Director, Compliance and Risk Management, Office of Financing
U.S. Department of the Treasury |
| | Panel: |
| Paul Agueci
Wholesale Project Director
Wholesale Product Office
Federal Reserve Bank of New York |
| | Skip Draber
Director of Special Projects, Office of Financing
U.S. Department of the Treasury |
| | Oliver Giannotti
Assistant Vice President, Markets Group
Federal Reserve Bank of New York |
| | Panel 4 |
| | Creating Efficiencies and Cost Cutting in a Challenging Environment Regency 1 |
| | This session will review operational business practices and the efficient use of technology with a focus on how operations professionals can assist their firms in the reduction of expenses. Going green, in addition to being a popular movement, also has potential cost reduction opportunities. Other opportunities that will be discussed include process and workflow improvements and vendor management. |
| | Moderator: |
 | Joseph Anastasio
Partner
Capco |
| | Panel: |
| Mark C. Healy
Executive Vice President
National Financial, a Fidelity Investments Company |
| | John Lauria
Director
Pershing LLC |
| | Terry Muldoon
Operations Director
William Blair & Company
|
| | vendor workshops |
| | Panel 1 |
| | Broadridge financial solutions, inc. |
| | Confronting the Key Challenges of Cost Basis Reporting Atlantic 1 |
| | With the passing of the TARP legislation cost basis reporting is set for a major revolution, from advancements in a firm’s technological infrastructure to procedurally how they manage their reporting systems. Join Broadridge for a discussion with Tower Group in which industry experts will examine the challenges faced by broker-dealers in complying with the cost basis provisions of the new law in 2009 and beyond. Come learn how Broadridge’s Aspire® engine enables firms to support cost basis reporting requirements and offer performance reporting to all their customers. |
4:15 p.m. - 6:30 p.m. | Exhibit Hall Reception - Great Hall 3-6 |
| Hosted by PriceMetrix Inc.
|
Tuesday, april 28, 2009 |
7:30 a.m. - 8:00 a.m. | Continental Breakfast - Great Hall FoyerHosted by The Bank of New York Mellon
|
8:00 a.m. - 9:30 a.m. | GEneral SessioN Great Hall 1-2 |
| | Hosted by Broadridge Financial Solutions, Inc.
|
| | Regulatory Outlook: what you need to know |
| | This session will focus on the latest regulatory developments in the municipal and equity markets during an interactive discussion with regulators. Help your firm's operations compliance and regulatory reporting areas prepare for the changes that lie ahead. This will include a look at systemic risk and the potential role of a systemic risk regulator. |
| | Moderator: |
| Ira Hammerman
Senior Managing Director and General Counsel
SIFMA |
| | Panel: |
| | Harold L. Johnson
Deputy Executive Director
Municipal Securities Rulemaking Board |
| | David Shillman
Associate Director, Division of Trading and Markets
U.S. Securities and Exchange Commission |
| Grace B. Vogel
Executive Vice President, Member Regulation
Financial Industry Regulatory Authority |
9:30 a.m. - 10:30 a.m. | Breakout Sessions |
| | Panel 1 |
| | Municipal & Corporate Bond Operational & Compliance Update Atlantic 1 |
| | A panel of dealers and senior regulators will address the latest operations and compliance issues facing the municipal and corporate bond markets. Listen to how dealers will address compliance to new rules and standards set by regulators and also how operational areas are affected by these changes. |
| | Moderator: |
 | Leslie Norwood
Managing Director & Associate General Counsel
SIFMA |
| | Panel: |
 | Alan S. Bartlett
Director
Pershing LLC |
| | Steven Joachim
Executive Vice President,Transparency Services and International Affairs and Services
Financial Industry Regulatory Authority |
| | Harold L. Johnson
Deputy Executive Director
Municipal Securities Rulemaking Board |
| | Panel 2 |
| | Evolving the Triparty Model: Operations for Global Opportunities Regency 2 |
| | Industry experts discuss the evolving nature of triparty. This will include how the clearing banks have responded to challenging markets by helping their customers use triparty to take advantage of global liquidity. Also, hear how Clearstream and Euroclear use triparty services to help their members optimize liquidity opportunities. |
| | Moderator: |
| | Jim Hraska
Global Head of Financing Operations
Barclays Capital Inc. |
| | Panel: |
| | Fernando Diaz Vazquez
Director
Regional Head Americas, Spain & Portugal
Relationship Management
Euroclear SA/NV |
| | James Malgieri
Executive Vice President, Product Manager, Global Management
The Bank of New York Mellon |
| Anthony J. Masiello
Senior Vice President
Clearstream Banking |
 | Kelly Mathieson
Managing Director, T&SS Clearance & Collateral Management Business Executive
J.P.Morgan Chase & Co. |
 | Anthony Scianna
Executive Vice President, Product Management
SunGard |
| | Panel 3 |
| | Cost Basis Reporting: Are you prepared? Regency 1 |
| | This panel will cover how firms are preparing for the cost basis implementation dates for the various covered products, and will also outline the operational issues facing this initiative. |
| | Moderator: |
| Shahira Knight
Managing Director
SIFMA |
| | Panel: |
| | Randy Barnes
Senior Product Manager
Thomas Reuters BETA Systems |
| | Ellen Bocina
Vice President
National Financial, a Fidelity Investments Company |
| | Robert Enz
Senior Vice President and General Manager, SIS Division
Broadridge Financial Solutions, Inc. |
| | Ted Jahn
Executive Director, Tax Reporting
Morgan Stanley |
| | vendor workshops |
| | PANEL 1 |
| | thomson reuters Atlantic 3 |
| | Learn how to streamline back office processes and workflows to help advisors serve their customers more efficiently. Thomson Reuters provides innovative workflow solutions for the wealth management industry. Our powerful, scalable productivity and decision support tools enable advisors to grow their client relationships, build trusted networks and increase assets under management. |
 | Traci Mabrey
Director, Pre-Sales Solutions
Thomson Reuters |
10:30 a.m. - 10:45 a.m. | Networking Refreshment Break – In Workshop Rooms |
10:45 a.m. - 11:45 a.m. | Breakout Sessions |
| | Panel 1 |
| | Derivatives Operations: Derivatives Markets Achieving the Commitments to the Regulators Regency 2 |
| | During this session industry participants will provide updates on the latest developments in derivatives operations. This will include how the industry has responded to regulator concerns relative to the efficient operations of these markets. Also, hear the latest on this market's adoption of a CCP, featuring plans for further enhancements to derivatives operations and the timeline for implementing new standards. |
| | Moderator: |
| | Matt Flanigan
First Vice President
Bank of America Merrill Lynch |
| | Panel: |
| | Neil Burke
Executive Director
Morgan Stanley |
| | Michael Coffee
Vice President, Head of Derivative Operations
AllianceBernstein LP |
| | Frank De Maria
Managing Director
Depository Trust & Clearing Corporation |
| | Darren Measures
Executive Director, Collateral Management Sales
JPMorgan |
| | Panel 2 |
| | Reengineering Account Transfers Atlantic 2 |
| | This panel will review customer complaints received by the regulators and plans to reduce them. Updates will also be included on liquidation requests, the recently launched mutual fund transfer service and the impact on ACATS as a result of firm failures. |
| | Moderator: |
| Steve Callan
Vice President
JPMorgan Clearing Corp. |
| | Panel: |
| Bill Kapogiannis
Director, Product Marketing & Development
Depository Trust & Clearing Corporation |
| Kevin McCosker
Director
President, SIFMA's Customer Account Transfer Division
Pershing LLC |
| Kristie Thompson
Group Leader
Edward Jones |
| | Panel 3 |
| | Investing with Taxes in Mind Regency 1 |
| | Mr. Gordon will share his expertise in guiding your personal financial decisions. Some of the timely topics will include, do growth stocks belong in your IRA or in your taxable account?, the benefits of deferring income, making retirement funds last, saving for college. |
| Robert Gordon
President
Twenty-First Securities Corp.
|
| | vendor workshops |
| | Panel 1 |
| | NEWRIVER Atlantic 1 |
| | Mutual fund sales on average represent 80% of retail brokerage transaction, and yet for many firms the amount of automation they have been able to provide to free advisors from time consuming paper work and procedures has been mixed. This year is the year of Disclosure, with a new Summary Prospectus, the potential for the Point-Of-Sale form requirement, and still undefined change as the regulatory landscape shifts. During this Informational Session, NewRiver will provide perspectives on the regulatory landscape, and how its solutions for better, more accurate, and compliant disclosure at the point-of-sale can be enhanced through unleashing the power of the SEC’s EDGAR system. |
 | Jeffrey Levering
Vice President, Corporate Development
NewRiver, Inc. |
| | Panel 2 |
| | Scivantage |
| | Beyond Basis Reporting: Leveraging Accurate Cost Basis to Create a Competitive Advantage Atlantic 3 |
| | With mandatory cost basis reporting deadlines on the horizon, operations executives are being challenged to formulate new cost basis strategies to support this new era of reporting. The impact of mandatory reporting will go far beyond reporting itself, changing many ways in which firms interact with clients. From major system upgrades to business process reengineering, learn what leading firms are doing to prepare and gain insight into how they plan to use accurate cost basis information to support the ever-changing demands of the retail investor and networks of financial advisors. Moderated by Scivantage, this interactive panel discussion will explore best practices and new technology innovations that can help to provide a sustainable competitive advantage for your firm. |
| | Moderator: |
 | Joe Stensland
Senior Vice President, Marketing and Product Management
Scivantage |
| | Panel: |
 | Martin Bentsen
Chief Operating Officer
Computer Research Incorporated |
| | Scott N. Dillman
Partner, Financial Services Technology
PricewaterhouseCoopers |
 | Brian Godfrey
Vice President, Client Reporting
Charles Schwab & Co. Inc. |
 | Cameron Routh
Senior Vice President, Strategic Products
Scivantage |
11:45 a.m. - 1:45 p.m. | Exhibit Hall Buffet Lunch - Great Hall 3-6 |
| Hosted by Broadridge Financial Solutions, Inc. |
Wednesday, april 29, 2009 |
8:00 a.m. - 8:30 a.m. | Continental Breakfast - Great Hall FoyerHosted by Quadron Data Solutions |
8:30 a.m. - 11:00 a.m. | General Session Great hall 1-2 |
| Hosted by Broadridge Financial Solutions, Inc. |
| Research Study OverviewC-Squared: Competition and Clients of the future in financial markets |
| | What value is added by the financial services industry? At a time when the global economy has been shaken by the financial crisis, this is more than just a philosophical question. Over the next three years, firms will learn how to operate in an increasingly competitive environment. Competition will heighten on four fronts: competition for capital, clients, talent and ultimately competition for sustainable returns. Firms can no longer afford to respond with rigid and complex organizational structures – structures that hinder the ability to capture emerging profit pools. In order to win in the new competitive landscape, firms must learn to identify the client of the future and specialize around what this client values.
Four fundamental questions about the future of financial services have been identified by industry leaders. These questions form the basis for IBM's research: - How will regulation and commoditization influence the industry over the next three years?
- What will clients pay a premium for?
- What will be the design elements of the competitive landscape?
- How must firms redesign their organizations to win?
|
| Suzanne L. Duncan
Financial Markets Industry Leader
IBM Corporation
|
| Market Turmoil - The realities for operations |
| | This panel of dealers, together with DTCC will discuss how operations has been affected by the recent market crisis. Hear how dealers have dealt with liquidity challenges, how they have managed the rumor mill of market events and how they have worked with DTCC to manage risk in general and to protect their firms from operational risks. Also, how a firm finances its daily operations and ensures sufficient liquidity is maintained will be discussed. |
| | Moderator: |
| | Arthur E. Laichtman
Managing Director & Senior Credit Officer
UBS AG |
| | Panel: |
| | Michael Calandra
Head of Core Securities Processing & Services, Global Wealth Management Group
Morgan Stanley |
| | Jim Hraska
Global Head of Financing Operations
Barclays Capital Inc. |
| | Marie Rey
Managing Director, Enterprise Risk Management
Depository Trust & Clearing Corporation |
| | closing remarks |
| | Ken Cameranesi
Chairman, Operations Conference, Executive Vice President & Chief Operating Officer
Wells Fargo Investments LLC |
| 11:00 a.m. | conference concludes |
SIFMA also thanks the following sponsors for supporting the 2009 Operations Conference:
|