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2016 Program


Thursday, October 20, 2016 at 1:00 PM

T1:00C How is Regulation Changing Access to US and European Markets?

Continental C
Regulators in Europe and the U.S. are working to implement regulations that protect markets from disruptive or manipulative trading. Algorithmic traders are increasingly subject to requirements to implement extensive pre-trade risk controls, to ensure that their trading applications are thoroughly tested and their procedures are properly documented and publicized internally, and to register with regulatory authorities. In addition, exchanges and brokers providing access are being required to implement new layers of controls and to provide increasing oversight into the details of the algorithms driving trading. While these regulations are designed to make markets safer, they are also making it more costly and complex for traders to access markets directly or even through a broker's infrastructure. This panel will discuss some of the key changes resulting from recent regulatory initiatives such as MIFID II, Regulation AT, and FINRA's requirement to register developers of algorithmic trading strategies and suggest approaches traders might take to minimize the burden of the new requirements.

Chair:

Leslie Sutphen, President, Financial Markets Consulting

Speakers:

Lyndon Freedman, Executive Director, Execution Services, J.P. Morgan
Matt Haraburda, President, XR Trading
Piebe Teeboom, Secretary General, FIA European Principal Traders Association
Sam Tyfield, Partner, Vedder Price
Vassiliki Veliou, Head of Market Structure & Regulation, Eurex