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2015 Program

November 3-5, 2015 // Hilton Chicago // Chicago, Illinois

* Program subject to change

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Tuesday, November 3, 2015

10:00 AM

Phillip Capital Presents: Trading Asia Symposium & Lunch (RSVP Required)

Boulevard & Normandy Lounge 

Join Phillip Capital and hear from leaders of eight Asian exchanges on current opportunities in Asia. At a time when growth rates are low and the Chinese stock market has seen huge losses, is it time to settle in or prepare for change? Our discussion panel, moderated by John Lothian, will cover the following topics:
  • How China’s woes could affect other Asian nations
  • Unique opportunities for investors in the current economic landscape
  • Barriers remaining for proprietary trading firms looking east
  • Important regulations facing traders and how to stay within them
  • New products to be aware of and opportunities for arbitrage
RSVP to travis@phillipcapital.com 

Chair:
John Lothian, President & Chief Executive Officer, John J. Lothian & Company

Speakers:
Muammer Çakir, Head of Derivatives Market, Borsa Istanbul
Gaurang Desai, Chief Executive Officer, Dubai Gold & Commodities Exchange
Chris Edmonds, Senior Vice President, Financial Markets, Intercontinental Exchange Singapore
Takamichi Hamada, President & Chief Executive Officer, Tokyo Commodity Exchange
Baeyong Kim, Managing Director & Global Head of Derivatives Sales, Linkage & Regulations, Korea Exchange
Rama Pillai, Senior Vice President & Deputy Head of Sales, Singapore Exchange
Kotaro Yamazawa, Senior Executive Vice President, Osaka Exchange
Tae Seok Clement Yoo, Managing Director & Head of Client Business Development, Hong Kong Exchanges and Clearing

6:00 PM

Opening Reception

6:00-8:00 p.m.
City Winery
1200 W Randolph Street
Chicago, IL 60607

Let's uncork Expo with a bang! Come join business associates, colleagues and friends at the City Winery, one of Chicago's hippest dining spots. An RSVP is not necessary, however you must be pre-registered for Expo under a qualified* registration category before Friday, October 30 in order to appear on the guest list. Walk-ups will only be accommodated on space-available basis. 


Qualified registration categories include: Speakers, Press, Board, Full Conference, Single Day and Trade Show Plus. NOTE: Trade Show Only delegates must upgrade to Trade Show Plus to attend.


Getting there
Transportation will NOT be provided. City Winery is located three blocks from the Morgan stop on the "L" at the corner of W Racine and W Randolph. Valet parking is available at the restaurant for $10 per car, or $5 per car if you are a VinoFile Premier member. 

For more information on the City Winery, please visit www.citywinery.com.

Wednesday, November 4, 2015

8:00 AM

Registration Opens

8th Street Lobby Level Registration Area & Lower Level Registration Area
Stop by the registration best to get your NetOTC badge and CME Group tote bag filled with Expo materials before heading into the first session.

Sponsored by:
           
8:45 AM

Welcoming Remarks

Grand Ballroom

Speaker:
Walt Lukken, President & Chief Executive Officer, FIA

9:00 AM

W9:00A CFTC Keynote Address

Grand Ballroom
Since being sworn in as Chairman of the Commodity Futures Trading Commission, Timothy Massad has taken many steps to fine-tune a myriad of Dodd-Frank regulations that have been implemented. Under his leadership, the CFTC has also taken steps to finalize re-proposed position limit rules, weigh how post-financial reform regulations have impacted end-users and taken a critical look at the agency’s approach toward managing cyber-security risks in our markets. Massad has also spent considerable time working with his regulatory counterparts in Europe and elsewhere to follow through with the commitment among heads of state at the 2009 G-20 Pittsburgh Summit to ensure a coordinated approach to global regulation. Join us for Chairman Massad’s keynote address and hear the latest on the CFTC’s progress in these areas.

Speaker:
Timothy Massad, Chairman, Commodity Futures Trading Commission

9:30 AM

W9:30A Exchange Leaders: What's next for our industry?

Grand Ballroom
Cross-border challenges, the search for innovative new products, cyber threats, liquidity concerns, new competitors.  This session will be a lively discussion of the current and future issues facing exchange leaders.

Chair:
Rob Creamer, President & Chief Executive Officer, Geneva Trading, and Chairman, FIA Principal Traders Group

Speakers:
Phupinder Gill, Chief Executive Officer, CME Group
Andreas Preuss, Chief Executive Officer, Eurex
Jeffrey Sprecher, Chairman & Chief Executive Officer, Intercontinental Exchange
Edward Tilly, Chief Executive Officer, Chicago Board Options Exchange

10:00 AM

Exhibit Hall Opens

Lower Level, Trade Show Floor - Green/Blue/Innovation Exhibit Halls

10:45 AM

Networking Break

Continental Foyer, Lobby Level

Take this opportunity to stretch your legs, grab a snack and get ready for the next session!
11:15 AMConcurrent Session

W11:15A One-on-One Interview with Kay Swinburne

Continental A
Following a successful career in investment banking, Kay Swinburne was elected a Member of the European Parliament in 2009, representing Wales. Her knowledge of global financial markets has equipped her for her current role on the European Parliament’s Economics and Monetary Affairs Committee (ECON) and, previously, the Special Committee on the Financial, Economic and Social Crisis. On the ECON, she has made clear her concerns that Europe’s financial markets regulatory agenda should be aligned with that of the U.S. to ensure a coordinated global approach to meeting the G20 requirements.

Interviewer:
Walt Lukken, President & Chief Executive Officer, FIA

Speaker:
Kay Swinburne, Member, European Parliament

11:15 AMConcurrent Session

W11:15B Treasury Markets: How are these markets changing?

Continental B
This session will consider how the structure of the U.S. Treasury market is changing. Panelists will cover the automation of Treasury markets, CLOB vs. RFQ, changes in the use of IDB platforms, interaction of cash and futures markets and whether additional oversight is needed for U.S. Treasury markets. Panelists also will discuss the findings of the joint staff report on the events of the Treasury Market on October 15, 2014. 

Chair:
Kevin McPartland, Principal, Market Structure & Technology, Greenwich Associates

Speakers:
Isaac Chang, Global Head of Fixed Income, KCG Holdings
Billy Hult, President, Tradeweb Markets
Richard Mazzella, Chief Operating Officer, Global Fixed Income, Citadel
Trent Reasons, Director of Analysis, U.S. Department of the Treasury
Sayee Srinivasan, Chief Economist, Commodity Futures Trading Commission
Don Wilson, Founder & Chief Executive Officer, DRW Trading Group

11:15 AMConcurrent Session

W11:15D FIA Law & Compliance presents Hot Regulatory Topics: I have to do WHAT?!

Continental C
CCO reports, risk reports, REMIT, registration in Canada, account ownership and control, exchange for related position transactions…this panel will discuss new regulatory obligations that you need to know.

Chair:
Kimberly Johns, Vice President & Associate General Counsel, Goldman Sachs

Speakers:
Patricia Donahue, Senior Vice President, Chief Compliance Officer & Regulatory Counsel, Rosenthal Collins Group
Eileen Flaherty, Director of the Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission
Michael Sorrell, Assistant General Counsel, FIA
Scott Taylor, Managing Director, Compliance, Wells Fargo
Corey Traub, Director, Exchange Traded Derivatives Compliance, Compliance & Operational Risk Control, UBS

12:30 PM

W12:30A Keynote Lunch

Grand Ballroom
Steven Johnson is the leading light of today's interdisciplinary, collaborative, open-minded approach to innovation. His writings have influenced everything from cutting-edge ideas in urban planning to the battle against 21st-century terrorism. Johnson was chosen by Prospect magazine as one of the Top Ten Brains of the Digital Future, and The Wall Street Journal called him “one of the most persuasive advocates for the role of collaboration in innovation.” He unites a deep understanding of scientific progress with a sharp sensitivity to contemporary online trends. Together, those traits give him an unmatched insight into how ideas emerge and spread and how they affect the world today.
Johnson's work on the history of innovation inspired the Emmy-nominated six-part series on PBS, HOW WE GOT TO NOW with Steven Johnson, that aired in the fall of 2014. The book version of How We Got To Now debuted at #4 on the New York Times bestseller list, and was a finalist for the PEN/E.O. Wilson Literary Science Writing Award.
Johnson is also the author of the bestselling Where Good Ideas Come From: The Natural History of Innovation. Steven considers breakthroughs as different as Darwin's theories and the rise of YouTube, and asks: what did these moments have in common? What kind of environments fostered these ideas? He answers these question with a core set of innovation principles that have encouraged creativity across history. It's a fascinating read and a wonderfully practical guide to making any space or organization more innovation-friendly.

Speaker:
Steven Johnson, Bestselling Author, How We Got To Now and Where Good Ideas Come From

2:00 PMConcurrent Session

W2:00A Market Structure: How will changes in the clearing model impact customers and markets?

Continental A
The effects of financial reform are being felt in the U.S. and Europe as well as other financial centers around the world.  The clearing model that has worked well for futures is undergoing dramatic changes.  Clearing members, customers and traders will discuss how they are responding to new realities and what it means for customers.  Panelists will cover capital considerations including leverage ratio, indirect clearing, cross-border challenges, client self-clearing and regulatory uncertainty.  When reform is complete, will the world be a safer place?

Chair:
Mark Ibbotson, Group Chief Executive Officer, G.H. Financials

Speakers:
Jeffrey Bandman, Acting Director, Division of Clearing & Risk, Commodity Futures Trading Commission
Lee Betsill, Managing Director & Chief Risk Officer, CME Group
John Dabbs, U.S. Head of Listed Derivatives & OTC Clearing, Credit Suisse
Maureen Downs, President, Rosenthal Collins Group
Kevin McClear, Corporate Risk Officer, Intercontinental Exchange
John McPartland, Senior Policy Advisor, Federal Reserve Bank of Chicago
Chris Perkins, Global Head of Derivatives Clearing, Citigroup Global Markets

2:00 PMConcurrent Session

W2:00B Oil Markets: Which way next?

Continental B
Have oil prices bottomed out? Will the spread between WTI and Brent continue to narrow? Why are calendar spread options so popular?  A panel of industry experts discusses the factors driving the volatility in oil prices and how that is affecting trading strategies in the oil futures markets. 

Chair:
Lawrence Eagles, Head of North American & Global Crude Analytics, BP

Speakers:
Elisa Moriconi, Managing Partner, Riviera Commodities
David Peniket, President & Chief Operating Officer, ICE Futures Europe
Warren Russell, Commodities Research, Barclays
Derek Sammann, Senior Managing Director, Commodity & Options Products, CME Group
Anthony Starkey, Energy Analyst, Bentek Energy
Michael Wittner, Global Head of Oil Research, Societe Generale

2:00 PMConcurrent Session

W2:00C Cyber Threats: How is the industry responding?

Continental C
This panel will discuss how our industry is addressing cyber security, from the business, regulatory and information security perspectives, and what we can expect in the future. Incorporation of cyber security preparedness and responsiveness and recovery as part of a comprehensive business continuance and resilience strategy will be discussed. What is the industry doing to improve the identification and sharing of threat information, and how is the financial industry- government partnership addressing cyber threats? 

Chair:
Margaret Paulsen, Managing Director, PricewaterhouseCoopers

Speakers:
Jamal Oulhadj, Chief Operating Officer, R.J. O'Brien & Associates
John Rapa, President & Chief Executive Officer, Tellefsen and Company
Thomas Sexton, Senior Vice President & General Counsel, National Futures Association
David Taylor, Associate Director, Division of Market Oversight, Commodity Futures Trading Commission
Brian Tishuk, Executive Director, Financial Services Sector Coordinating Council, and General Counsel, FS-ISAC

2:00 PMConcurrent Session

W2:00D MiFID II: What do U.S. market participants need to know?

Buckingham
MiFID II will dramatically reshape EU market structure and the way firms operate in the financial services sector. These new rules will become effective January 2017 and apply across all asset classes with limited exemptions. They will impact both firms operating within the EU and those accessing EU venues. This session is designed to brief U.S. market participants on what they need to do to prepare for MiFID II. Topics include: direct electronic access, automated trading, definition of HFT, algo tagging, market making, sponsored access, indirect clearing, equivalence, and straight-through processing.

Chair:
Jackie Mesa, Executive Director, FIA Global

Speakers:
Mark Husler, Chief Executive Officer, UnaVista, London Stock Exchange Group
Nathaniel Lalone, Partner, Katten Muchin Rosenman UK
Ben Morof, Associate General Counsel & Chief Compliance Officer, Teza Technologies
Simon Puleston Jones, Chief Executive Officer, FIA Europe
Matthew VosBurgh, Vice President, Agency Derivatives Services, Barclays

3:15 PM

Networking Break

Continental Foyer, Lobby Level

Take this opportunity to stretch your legs, grab a snack and get ready for the next session!
3:45 PMConcurrent Session

W3:45A Collateral & Cash Management: Is cash still king?

Continental A
The business model has changed and the traditional role of collateral management has been usurped by balance sheet optimization. In between low and negative interest rates, exchange-cleared swaps and Dodd-Frank, Basel and the balance sheet have taken center stage for attention at the clearing firms. Panelists will discuss the benefits of optimization, review LSOC (where are we now?) and other related collateral and cash management topics.

Chair:
Kenneth Nehlsen, Treasurer, Futures Division, Jefferies

Speakers:
Michael Kobida, Executive Director of Collateral Services, CME Group
Carol McClure, Executive Director, UBS
Patrick Sheehan, Vice President, Futures Services, Goldman Sachs
Teresa Warta, Executive Director, Futures & Options and OTC Clearing Treasury Projects, J.P. Morgan

3:45 PMConcurrent Session

W3:45B Commodities: Will hedging survive?

Continental B
The fundamental reason derivatives markets exist is to give commercials, money managers and asset managers a vehicle for offsetting risk. As the regulatory landscape evolves, have we done enough to protect and preserve the ability of commercial entities and financial institutions to hedge? Panelists will discuss recent regulatory developments, including position limits in the U.S. and Europe and the impact of a potential change in the de minimis swap dealing threshold on commodity marketers, stepped up enforcement actions, and the impact of banks exiting the commodity business.

Chair:
Allison Lurton, Senior Vice President & General Counsel, FIA

Speakers:
Matthew Chamberlain, Head of Business Development, London Metal Exchange
Eric Juzenas, Principal Adviser, Office of Commissioner Bowen, Commodity Future Trading Commission
David Louw, Division Director, Risk Management Group, Compliance, Macquarie Group
Paul Pantano, Partner, Cadwalader Wickersham & Taft

3:45 PMConcurrent Session

W3:45C Self-Trades: What are they and why do they happen?

Continental C
While the industry has been working for several years to find ways to prevent self-trades, recent press reports and regulatory scrutiny have drawn attention to this phenomenon. Is there a difference between self-trades and wash trades? How is technology evolving to prevent self-matching? And what does self-match prevention have to do with disruptive trading behaviors? This panel will address these questions and more.

Chair:
Remco Lenterman

Speakers:
Matt Haraburda, President, XR Trading
Sebastian Neusuess, Monitoring Expert, Eurex
Sam Priyadarshi, Head of Fixed Income Derivatives, The Vanguard Group
Andrew Vrabel, Executive Director, Global Investigations, CME Group
Kurt Windeler, Senior Director, Market Regulation, Intercontinental Exchange
Greg Wood, Director, Algorithmic Execution, Listed Derivatives and Foreign Exchange, Deutsche Bank

3:45 PMConcurrent Session

W3:45D Registration from a Global Perspective: Who and what doesn’t have to be registered?

Buckingham
Determining registration requirements for entities, strategies, technology and personnel is a major challenge for market participants. Finding the right resources to understand and implement new registration requirements is impacting firms' bottom lines…but the cost of non-compliance is significant. This panel brings together industry and regulatory experts to shed light on current and future registration regimes and will assist attendees to identify issues and resources to meet their registration obligations.

Chair:
Jeff Ramsey, Managing Director and General Counsel, Geneva Trading

Speakers:
Yvette Christman, Vice President, Membership & Registration, National Futures Association
Matt Lisle, Chief Compliance Officer, ABN AMRO Clearing Chicago
Bernd Mack, Executive Vice President, Head of Market Structure, Eurex
Joe McDonald, Senior Director, Testing and Continuing Education Department, FINRA
Jim Moran, Executive Director, Global Markets Regulation, CME Group
Joel Zawko, Chief Compliance Officer, Optiver US

4:00 PM

Taste of Expo Exhibit Hall Reception

Lower Level, Trade Show Floor - Green/Blue/Innovation Exhibit Halls 

The Chicago trading community's premier event! Unwind and log precious networking hours during the annual Taste of Expo! Join us from 4:00 - 6:00 p.m. for drinks and light fare courtesy of the Expo 2015 exhibitors.

6:00 PM

Exhibit Hall Closes

6:00 PM

CME Group Reception

View Invite

Thursday, November 5, 2015

8:00 AM

Registration Opens

8th Street Lobby Level Registration Area & Lower Level Registration Area
Stop by the registration best to get your NetOTC badge and CME Group tote bag filled with Expo materials before heading into the first session.

Sponsored by:
           
9:00 AMConcurrent Session

T9:00A Washington Outlook: In an election year, will Washington policymakers play it safe or shake things up?

Continental A
Come hear how all of the recent leadership changes in Congress and forthcoming changes in the White House will impact current public policy debates. The upcoming year will see major changes in those who lead U.S. policy development – will Washington grind to a halt or change direction completely?

Chair:
Ben White, Chief Economic Correspondent, Politico

Speakers:
Terrence Duffy, Executive Chairman & President, CME Group
Richard Gorelick, Chief Executive Officer, RGM Advisors
Walt Lukken, President & Chief Executive Officer, FIA
Dan Roth, President & Chief Executive Officer, National Futures Association
Mark Wetjen, Managing Director, DTCC

9:00 AMConcurrent Session

T9:00B Liquidity Crisis: Why is liquidity so difficult to find?

Continental B
Panelists will discuss concerns about diminishing liquidity in different markets. How important is liquidity and how should it be measured? What factors are impacting liquidity? How is this impacting futures markets? Are market users moving from futures to ETFs? How can this trend be reversed?

Chair:
Dean Tonkin, Managing Director, Head of Futures, Options, OTC Clearing, and FX Prime Brokerage, Bank of America Merrill Lynch

Speakers:
Isaac Chang, Global Head of Fixed Income, KCG
Chris Edmonds, Senior Vice President, Financial Markets, Intercontinental Exchange
Paul Hamill, Global Head of FICC, Citadel
James Wallin, Senior Vice President, AllianceBernstein
Michael Yarian, Managing Director, Head of Rates & Local Markets Trading, Americas & Europe, Barclays

9:00 AMConcurrent Session

T9:00C Investing in Innovation: Is our industry ripe for disruptive technology?

Continental C
Expo 2015 has a special focus on innovation, so we are inviting a mix of innovators from both inside and outside the industry to comment on the state of innovation and give their views on where disruptive technology is needed in the listed derivatives industry.  

Chair:
Troy Henikoff, Managing Director, Techstars Chicago

Speakers:
Brendan Bradley, Chief Innovation Officer, Eurex
Neil DeSena, Managing Partner, SenaHill Partners
Rumi Morales, Executive Director, CME Ventures
David Rutter, Managing Partner, R3CEV
Chris Sugden, Managing Partner, Edison Partners

9:00 AMConcurrent Session

T9:00D InformationXchange: London Metal Exchange

Buckingham
Over the past year the LME has been delivering its Liquidity Roadmap, further building on the Exchange’s role as the world centre for industrial metals trading.
The Roadmap brings together a set of initiatives which are designed to provide deeper electronic orderbooks, more transparency and greater market participation. Created to deliver additional trading opportunities for all market participants, the key advantages of the Roadmap are:
  • Enhanced liquidity
  • Simpler trading
  • Tighter spreads
  • Improved price transparency along the curve
  • Greater market access
Join this session to find out more about our exciting market structure changes, including opportunities in our liquidity provider, new market participant, and market making programs.

Speakers:
Matthew Chamberlain, Head of Business Development, London Metal Exchange
Priyanka Malhotra, Head of Business Development, LME Clear

10:00 AM

Exhibit Hall Opens

Lower Level, Trade Show Floor - Green/Blue/Innovation Exhibit Halls

10:15 AM

Euronext Networking Break

Continental Foyer, Lobby Level

Euronext is sponsoring the mid-morning refreshment break at FIA Expo on Thursday, 5 November.  Euronext representatives will be cruising the foyer during the coffee session – come find us to catch-up on developments at Euronext!

Sponsored by:
 
10:45 AMConcurrent Session

T10:45A The Future of Clearing: Are we there yet?

Continental A
Capital. Capital. Capital. Skin in the game, recognition, segregated funds, margin, collateral. What are the priorities of the clearinghouse leaders and what changes do they expect to see in the coming months? How are they responding to requests from clearing members and their customers? 

Chair:
Edward Pla, Managing Director, Global Head of Clearing & Execution, UBS

Speakers:
Sunil Cutinho, President, CME Clearing, CME Group
Matthias Graulich, Member of the Executive Board & Chief Client Officer, Eurex Clearing
Thomas Hammond, President & Chief Operating Officer, ICE Clear U.S.
Mike McClain, President & Chief Operating Officer, OCC
Martin Pluves, Chief Executive Officer, LCH.Clearnet
Trevor Spanner, Chief Executive Officer, LME Clear

10:45 AMConcurrent Session

T10:45B Equity Options: What impact are regulatory changes having on liquidity?

Continental B
The effects of new regulatory initiatives are beginning to be felt in the equity options markets as implementation gets underway. Panelists will discuss the regulatory impact on the provision of liquidity. Topics include Basel III Standardized RWA and its impact on capital requirements as well as OCC regulation and its impact on the market maker liquidity.

Chair:
William Speth, Vice President, Research, Chicago Board Options Exchange

Speakers:
Steve Brodsky, Chief Executive Officer, Spot Trading
John Fennell, Executive Vice President, Financial Risk Management, OCC
Massimo Giorgini, Head of Business Development, Equities and Derivatives Markets, Borsa Italiana, London Stock Exchange Group
James Radecki, Managing Director, Goldman Sachs

10:45 AMConcurrent Session

T10:45C Machine Learning: Does it have applications for trading?

Continental C
Machine learning is not only tracking our buying patterns as consumers, it is modifying how market participants interact.  The sophistication of pattern recognition algorithms is increasing and a new concept in developing the next trading strategy is using systems that can learn from their own success and failure.  Join us for a primer on the technologies that enable machine learning and the leaders that employ it to solve complex problems in our space. How do you start, what are the challenges, and what should we expect in the near future?

Chair:
Petri Fast, Chief Operating Officer, Ketchum Trading

Speakers:
Matthew Dixon, Assistant Professor of Finance, Stuart School of Business, IIT
Chris Nicholson, Co-Founder & Chief Executive Officer, Skymind
Jeffrey Tran, Proprieter, Quickstep Trading
David Widerhorn, Chief Executive Officer, Neurensic

10:45 AMConcurrent Session

T10:45D InformationXchange: Dalian Commodity Exchange

Buckingham
Representatives from Dalian Commodity Exchange (DCE) will provide an overview of Chinese commodity derivatives markets and give the audience updates on new developments regarding the internationalization project of the DCE iron ore derivatives market. Attendees will hear about historical evolution, products initiatives, global business development, regulatory environment and more. Join us for this InfoXchange session and get insights on Chinese derivatives market.

Welcome Address:
Ning Li, Head of Global Business Development, Dalian Commodity Exchange

DCE Iron Ore Market Overview:
Dr. Wei Chen, Head of Derivatives Products, Dalian Commodity Exchange
Xiaoxiao Ma, Manager of Global Business Development, Dalian Commodity Exchange

12:00 PM

Networking Lunch

Lower Level, Trade Show Floor - Green/ Blue/ Innovation Exhibit Halls

Take a break and boost your energy by joining us in the Expo exhibit halls for a bite to eat. Network with colleagues and Expo exhibitors while enjoying a grab-n-go lunch. Each hall will feature its own unique lunch buffet, so come dig in!


1:00 PMConcurrent Session

T1:00A Opsapalooza: What is the operational agenda for 2016?

Buckingham
What is the status of account ownership and control reporting, exchange fee processing, brokerage, and EFRP processing? This panel will give a status update on issues on the plate of ops professionals. 

Chair:
Ray Tubridy, Senior Vice President, Macquarie Futures USA

Speakers:
Maureen Burke
Thomas Croke, Global Head of Operations, Futures & Options Division, Nomura Securities
Mark Dillon, Director of GMLD Operations Americas, Deutsche Bank
Brian Gelfand, Vice President & Chief Regulatory Officer, Montreal Exchange
Mary Beth Rooney, Director, Compliance, Citigroup Global Markets

1:00 PMConcurrent Session

T1:00B Equity Options Exchange Leaders: What are the threats and opportunities?

Continental A
This panel features leaders from the equity options exchanges discussing their views on a range of topics. How many exchanges are too many…14 and counting? What impact is OTC having on the listed market? How worried should we be about the current volume trend? How can we attract a new generation of professionals to our markets? Panelists also will discuss regulatory impacts such as the implementation of Reg SCI and Department of Labor changes in fiduciary standards.

Chair:
Patrick Hickey, Head of Market Structure, Optiver

Speakers:
Edward Boyle, Chief Executive Officer, BOX Options Exchange
Shelly Brown, Senior Vice President, Strategic Planning & Operations, MIAX Options Exchange
Steve Crutchfield, Vice President, Head of Options, ETPs, & Bonds, NYSE
Boris Ilyevsky, Managing Director, International Securities Exchange
Kevin Kennedy, Vice President & Head of U.S. Options, Nasdaq
Andrew Lowenthal, Senior Vice President, Business Development, Chicago Board Options Exchange
Kapil Rathi, Vice President of Options Strategy, BATS Global Markets

1:00 PMConcurrent Session

T1:00C Blockchain Technology: What's the fuss?

Continental B
Blockchain technology has captured the attention of the financial services industry due to its ability to validate and maintain a continuously growing list of data records in a transparent and secure environment. This session will discuss how the innovative distributed ledger protocol of blockchain technology can ensure quicker and more efficient clearing and settlement, and why it has the listed derivatives industry so excited.

Chair:
Ray Kahn, Global Head of Futures, Head of Agency Derivatives Services Americas, Barclays

Speakers:
Dan Connell, Managing Director, Head of Market Structure and Technology Practice, Greenwich Associates
Matt Hughes, Vice President, Strategic Planning & Development, OCC
Ron Papanek, Managing Director, Symbiont
David Ripley, Co-Founder & Chief Executive Officer, Glidera
Fredrik Voss, Vice President, Blockchain Innovation, Nasdaq

1:00 PMConcurrent Session

T1:00D Surveillance Workshop Part I Case Studies: Disruptive Trading--The Fundamental Elements

Continental C
The definition of disruptive trading is evolving as regulators consider what types of trading behavior is acceptable and what looks like inappropriate trading behavior in automated markets. This workshop will cover the allegations being made in pending cases.

Chair:
Gregory Mocek, Partner, Cadwalader Wickersham & Taft

Speakers:
Gary DeWaal, Special Counsel, Katten Muchin Rosenman
Stacie Hartman, Partner, Schiff Hardin
Clifford Histed, Partner, K&L Gates

2:15 PMConcurrent Session

T2:15A Automated Trading: How can the industry mitigate the risks?

Continental A
Investors, regulators, legislators, and the press continue to worry about the potential havoc that can be created when an algorithm does not behave the way it is intended to behave or when an algorithm is deliberately designed to mislead the market.  The industry has made tremendous efforts to encourage and adopt best practices in creating and operating algorithms and to build safeguards into the marketplace itself.  This panel will bring together experts from trading, brokers, exchanges, and industry organizations to discuss initiatives such as the FIA's Guide to the Creation and Operation of Automated Trading Systems and report the findings of the recent FIA Global Survey on Exchange Risk Management Practices.

Chair:
Demetria O'Sullivan, Global Market & Credit Risk Manager, ABN AMRO

Speakers:
Keith Fishe, Managing Partner, TradeForecaster Global Markets
Jim Moran, Executive Director, Global Markets Regulation, CME Group
Leslie Sutphen, President, Financial Markets Consulting
Greg Wood, Director, Algorithmic Execution, Listed Derivatives and Foreign Exchange, Deutsche Bank

2:15 PMConcurrent Session

T2:15B Equity Options: What innovative new products and technology are on the horizon?

Buckingham
This panel will examine new products and technology of interest to equity options market participants.  Panelists will cover innovations in cyber-security, latency, analytics, market data, and working with vendors on new product listings.

Chair:
JJ Kinahan, Managing Director, Market Structure Strategy, TD Ameritrade

Speakers:
Andrew Curto, Head of Algorithmic Trading, Sumo Capital
Hazem Dawani, Chief Executive Officer & Co-Founder, OptionsCity Software
Gerry O'Connell, Executive Vice President, Systems, and Chief Information Officer, Chicago Board Options Exchange
Karan Sood, Founder, Vest Financial

2:15 PMConcurrent Session

T2:15C Cloud Technology: Is everything moving to the cloud?

Continental B
This session will cover how cloud technology is being deployed in the listed derivatives space and the benefits and challenges it presents.  How is it changing the business models of market participants?

Chair:
Adam Honoré, Chief Executive Officer, MarketsTech

Speakers:
Scott Caudell, Senior Vice President & Chief Technology Officer, Technical Infrastructure, Interactive Data
Grant Cupps, Director of Product Management, OptionsCity Software
Drew Shields, Chief Technology Officer, Trading Technologies
Jason Timmes, Assistant Vice President, Software Development, Nasdaq

2:15 PMConcurrent Session

T2:15D Surveillance Workshop Part II: Practical Tips/ Training the Traders

Continental C
You’ve read the rule, guidance, and most recent cases on disruptive trade practices, now what do you do?  Hear from regulators and practitioners about expectations around, and practical steps for, surveillance of trading activity by firm traders and FCM clients, including supervisory responsibilities and unique challenges related to automated trading systems.

Chair:
Michael Piracci, FCM Chief Compliance Officer & Director, Compliance, Barclays

Speakers:
Ed Dasso, Vice President of Market Regulation, National Futures Association
Lisa Dunsky, Counsel, Sidley Austin
Erik Haas, Director, Market Regulation, Intercontinental Exchange
Harris Kay, Shareholder, Greenberg Traurig
Robert Sniegowski, Executive Director, Rules & Regulatory Outreach, CME Group

3:30 PM

Networking Break

Continental Foyer, Lobby Level

Take this opportunity to stretch your legs, grab a snack and get ready for the next session!
4:00 PMConcurrent Session

T4:00A China: What has been the response to recent market events?

Continental A
Recent volatility in Chinese markets made headlines around the world and prompted Chinese regulators to respond. Our panel of China experts will give their opinion on whether the events earlier this year signal a major setback in the development of Chinese markets or merely a correction in the normal evolution into a more mature financial environment. What plans have stalled and what initiatives are still on track?

Chair:
Paul Davies, Managing Director, Futures Services, Goldman Sachs, and Chairman, FIA Asia

Speakers:
Maurice Farhart, Head of International Business, ASX Group
Bill Herder, President, FIA Asia
Michael Peters, Member of the Executive Board, Eurex
Sharon Shi, Managing Director, G.H. Financials
Tae Seok Yoo, ‎Managing Director, Head of Fixed Income Currency Development & Client Business Development, Hong Kong Exchanges & Clearing

4:00 PMConcurrent Session

T4:00B Execution: What is coming in the next generation of trading platforms?

Continental B
The markets are being reshaped by algorithmic trading, regulatory changes, and the availability of capital. As a result, the way traders are thinking about and accessing markets is changing. What is more important in today’s markets – reducing latency or managing liquidity? Is the ability to manage multiple asset classes on one platform becoming more of a reality? What functionality are we borrowing from other asset classes and what futures functionality is gaining traction in other markets? What analytics are available to determine how effective your execution strategy is? Panelists will discuss how their approach to building systems is changing to reflect the realities of the markets.

Chair:
Callie Bost, Analyst, TABB Group

Speakers:
Jesper Alfredsson, President, Orc Americas
Philippe Buhannic, Chairman & Chief Executive Officer, TradingScreen
Mike Forst, Director of Product Management, Trading Technologies
George Harrington, Global Head, Fixed Income Trading, Bloomberg
Dan Smalley, Head of Business Development, Derivatives, Fidessa

4:00 PMConcurrent Session

T4:00C Surveillance Systems: Can automated tracking systems help traders guard against disruptive behavior?

Continental C
As regulators give closer scrutiny to trading activity, firms are seeking ways to better monitor for market abuse. This panel will feature both established and cutting edge surveillance system vendors discussing how their products help compliance departments manage today’s high trading volumes.

Chair:
Nicholas Wendland, Chief Compliance Officer, Sun Trading

Speakers:
Blake Hausladen, Head of Implementation, Neurensic
Michael Lehman, Managing Director, Decryptex Financial Laboratories
Michael O’Brien, Global Head of Product Management, Nasdaq SMARTS
Travis Schwab, Chief Executive Officer, Eventus Systems

4:00 PMConcurrent Session

T4:00D FIA Tech Brokerage Workshop

Buckingham
Brokerage pay and collects continue to challenge executing and clearing brokers, but progress is being made to revolutionize the way the process works. This panel will discuss the efforts underway to digitize rates, manage EGUS agreements, standardize invoices and reconcile efficiently. 

Chair:
James Woods, Chief Technology Officer, FIA Tech

Speakers:
Tom Neville, Executive Director, Morgan Stanley
Bernard Sapato, Vice President, Deutsche Bank Securities
Gregory Thompson, Global Manager of Income & Expense, Goldman Sachs
Sandra Ward, Global Manager of ETD Brokerage, UBS

4:00 PM

Exhibit Hall Closes

5:15 PM

Business Sessions Conclude

6:30 PM

FIA Cares Great Chicago Steak Out Dinner Reception (Ticket Required)

Grand Ballroom