FOW Trading Chicago


Swissotel, Chicago, USA

28 Jun 2017

Event Overview


As part of our international expansion we will be launching FOW Trading Chicago together with John Lothian News to cover the US derivatives market.

Join over 250 delegates from the local, regional and international CTA, prop and hedge fund community for a range of panel discussions covering the US derivatives market, Ted style talks and a debate on the future of Dodd-Frank. Don’t miss out on the opportunity to hear expert speakers and network with key industry players at the event.

The event is free to attend for CTAs, props and hedge funds.

For all events enquiries please contact William Mitting on will.mitting@globalinvestorgroup.com.

 

 

Agenda Overview


08:00 Breakfast and registration

08:50 Welcome address

Will Mitting, General Manager, Global Investor Group

09:00 Keynote address

Craig Pirrong, Professor of Finance, University of Houston


09:20 Debate: Dodd-Frank Should be repealed
We start the day with a lively Oxford-style debate looking at whether a repeal of Dodd-Frank would be of benefit to the market. As President Trump mulls his options, we will discover what the market really thinks.

Moderator

Leslie Sutphen, President, Financial Markets Consulting LLC 

Speakers 

Gary DeWaal, Special Counsel, Katten Muchin Rosenman LLP

09:55 Derivatives markets in an age of populism
From Brexit to Donald Trump, the rise of populism will have a significant impact on derivatives trading across the Western world. In the short term, innovative trading firms will thrive as volatility increases, in the medium to long term, regulatory frameworks could become even more complex and liquidity more fragmented.

- What instruments and asset classes are traders shifting to in today’s market?
- What would a roll back of Dodd-Frank mean for US markets?
- How might diverging regulation between the EU and US impact liquidity?
- What is the long term outlook for derivatives trading in the US?

Moderator

Carl Gilmore, President, Integritas Financial Consulting

Speaker

Joshua Yang, Partner, K&L Gates LLP

Steve Grob, Director of Group Strategy, Fidessa

Chris Hehmeyer, CEO, Hehmeyer Trading & Investments

10:35 Coffee break

11:00 Fixed income trading: the opportunity in uncertainty
Fixed income volumes are expected to soar over the coming three years as interest rate movement and uncertainty returns to the market. At the same time, uncertainty over market structure is growing as the potential Dodd-Frank retrenchment could reduce the volume of trading on Swap Execution Facilities and halt the futurisation of the market.

- What is the outlook for the “futurization” of the fixed income market?
- Where are the opportunities in fixed income trading today?
- Do SEFs have a role in the event of swaps trading roll-backs?
- What new products are being launched in fixed income?

Speakers:

Richard Mackey, President of RGS, CQG

Jay Feuerstein, Managing Director, Budo Group

David Klusendorf, CIO, Typhon Capital Management 

TIm Gits, Senior Vice President, HEad of Fixed Income Trading & Clearing Sales, Eurex 

11:40 Ted talk

Moderator

Chris Anderson, Strategic Research, Senior Product Manager, Itiviti


12:00 Is the current US options market structure sustainable?

News that Interactive Brokers is pulling out of market-making of US options has caused concern that the current model is unsustainable. At the same time as consolidation in the US options market gathers pace, is the age of expansion in US trading venues over?

- Has the options market become too skewed towards low-latency trading?
- Are there concerns about the ability to provide market making services?
- Is consolidation inevitable in the US options market?
- What is the outlook for market structure?

Speakers

Euan Sinclair, Partner, Talton Capital Management

Paul Jiganti, Managing Director Options Business Development, IMC 

Steve Crutchfield, Head of Market Structure, CTC 

12:40 Lunch

13:40 Ted Talk

13:50 Customizable technology: buy and build

Increasingly FCMs, hedge funds, CTAs and proprietary trading firms are customizing off-the-shelf technology and working with software vendors to build bespoke products. This trend is unlocking potential and providing a cost effective “third way” in addition to the usual choice of build-in-house or outsource.

- What advantages does a buy-and-build approach to technology offer?
- How are firms using APIs to enhance technology?
- What inhouse expertise do you need for the buy-and-build approach?
- How can FCMs develop technology in partnership with their clients? 

Speakers

Ilya Gorelik, CEO, Deltix 

Chris Monnery, US Head of Product Marketing, Electronic Execution, Fidessa 

14:30 Ted talk Machine learning

14:40 Is the speed race over? Is data the edge today?
For years, speed has been the key edge for many professional trading firms. But now with the commoditization of lower-latency, increased efforts to reduce the advantage of speed at exchanges, and the costs of being among the fastest increasing exponentially, speed is no longer the edge it used to be. Today firms are turning to more effective use of data to gain an edge with powerful effects.

- Is speed a commodity in today’s market?
- How are firms using data to get an edge in today’s market?
- How are big data tools changing data analysis?
- What is the future of data?

Moderator

Jim Kharouf, CEO, John Lothian News

Speaker

Tom Anderson, SVP, Head of Proprietary Trading GRoup Services, Wedbush

Jonathan Shaw, Risk Manager, TransMarket Group LLC 

15:20 Coffee break

15:40 Mifid II: impact on the US market

The European regulation Mifid II is set for implementation in 2018 and will have a reach far beyond the borders of the European Union. While stemming from the same origins as the Dodd-Frank Act, it is vastly different in its treatment of many of the key areas of reform. In addition, its confused extra-territorial approach is causing headaches and uncertainty for the US market. Oh, and of course there’s Brexit...

- How will Mifid II impact US CTAs and prop firms?
- What is the latest on non-EU firms access to European markets?
- What is Open Access and how could it change the European trading landscape?
- How will Brexit impact Mifid II and the UK as a European base? 

Moderator

Julie Dixon, Managing Principal, Titan Regulation

Speakers

Jennifer L Tveiten-Rifman, Chief Compliance Officer, Gelber Group

Juan Arciniegas, Shareholder, Vedder Price 

 

16:15 Drinks and networking reception

 

Chris Anderson, Strategic Research, Senior Product Manager, Itiviti 

Steve Crutchfield, Head of Market Structure, CTC 

Gary DeWaal, Special Counsel, Katten Muchin Rosenman LLP

Jay Feuerstein, Managing Director, Budo Group

Carl Gilmore, President, Integritas Financial Consulting 

Tim Gits, Senior Vice President, Head of Fixed Income Trading & Clearing Sales, Eurex

Ilya Gorelik, CEO, Deltix 

Steve Grob, Director of Group Strategy, Fidessa

Chris Hehmeyer, CEO, Hehmeyer Trading & Investments

Paul Jiganti, Managing Director Options Business Development, IMC 

David Klusendorf, CIO, Typhon Capital Management 

Richard Mackey, President of RGS, CQG

Will Mitting, Managing Director, Global Investor Group

Chris Monnery, US Head of Product Marketing, Electronic Execution, Fidessa 

Craig Pirrong, Professor of Finance, University of Houston

Euan Sinclair, Partner, Talton Capital Management 

Leslie Sutphen, President, Financial Markets Consulting LLC 

Joshua Yang, Partner, K&L Gates LLP 

 

 

 

 

 

 

 

 

 

 

 

Event Overview


For general sponsorship enquiries contact:
William Mitting
Managing Director
Tel: +44 (0)20 7779 8350
Email: will.mitting@globalinvestorgroup.com

Co-Event Organiser

John Lothian News

John J. Lothian & Co., a Chicago-based media firm, provides original and curated news, video and education through three main divisions: John Lothian News, John Lothian Productions and MarketsWiki Education. Since its launch of the John Lothian Newsletter in 2000, the firm has grown to become one of the top news providers for global financial markets. The daily John Lothian Newsletter and JLN Options newsletter, Johnlothiannews.com and MarketsWiki.com sites provide some of the most comprehensive coverage and information about exchanges, companies, people and regulations that make up the financial industry. John Lothian Productions offers a wide variety of professional, custom video services to clients. And MarketsWiki Education provides practical and personal information to students and young professionals through our events in the US and Europe, aimed at attracting the best talent to the financial markets. This diversity has made John J. Lothian & Co. one of the most unique media firms in the financial space.

Gold Sponsors

Fidessa

Fidessa's award-winning derivatives platform provides fully automated workflow for trading futures, options, exchange-traded strategies and U.S. Treasuries globally, connecting to all major derivatives exchanges worldwide. The platform scales to support futures brokers of all sizes, from a single regional implementation with global reach, to a global deployment across multiple regions.  A unique distributed architecture allows global FCMs to best route orders, regardless of the client's location, and benefit from extensive order management, execution tools, middle office and post-trade capabilities.

'Follow the sun' global order management allows an order from anywhere in the world to be put through the same workflow technology, maximising STP and efficiency whilst minimising risk. The platform supports specialised derivatives algorithms, including benchmark algos and advanced synthetic order types. Order stitching and bulking/compositing capabilities allow users to manage inbound electronic order flows more efficiently. Sophisticated call level management functionality allows users to create and manage call level alerts within the trading workflow and self-match prevention functionality monitors for potential self-matches across all trade flow, markets and regions. The advanced synthetic spread tool has been enhanced to allow relative value trading for fixed income instruments, including DV01 values, enabling traders to accurately hedge interest rate exposure and achieve duration neutral strategies.

Fully integrated risk functionality manages client limits globally and multiple allocation workflows are handled simply and efficiently. Powerful order analytics capabilities bring greater precision to the control and measurement of derivatives algos, helping meet the increasing demands for transparency of execution.

www.fidessa.com

 

Itiviti

Itiviti is a world-leading technology provider for the capital markets industry. Trading firms, banks, brokers and institutional clients rely on Itiviti technology, solutions and expertise for streamlining their daily operations, while gaining sustainable competitive edge in global markets.

With 13 offices and serving more than 400 customers worldwide, Itiviti was formed by uniting Orc Group, a leader in trading and electronic execution, and CameronTec Group, the global standard in financial messaging infrastructure and connectivity. From its foundation in 2016, Itiviti has a staff of 400 and an estimated annual revenue of SEK 700 million.

Itiviti is committed to continuous innovation to deliver trading infrastructure built for today’s dynamic markets, offering highly adaptable platforms and solutions, enabling clients to stay ahead of competitive and regulatory challenges.

Itiviti is owned by Nordic Capital Fund VII.

www.itiviti.com

Silver Sponsors

Eurex

As one of the world’s leading derivatives exchanges we offer a broad range of international benchmark products. For example, we operate one of the most liquid fixed income markets, provide the broadest range of equity index derivatives worldwide and are the platform of choice for European equity derivatives. In addition we cover derivatives on dividends, volatility and ETFs. All on one single platform. Innovative and reliable technology supplies about 400 participants and 7,500 traders in 35 countries with access to more than 2,000 products across nine traditional and alternative asset classes.

Eurex is part of Deutsche Börse Group.

For further information please visit
www.eurexchange.com

 

Deltix

Deltix provides software and services to buy-side and sell-side financial firms for quantitative research, algorithmic trading and advanced analytics across equities, futures, forex and options. Deltix software provides data collection, aggregation and storage, advanced time-series and mathematical analytics, back-testing, simulation and live trading. Clients use Deltix for multiple purposes including automated systematic trading, smart order routing, algorithmic execution and execution analysis/TCA. Deltix has 65 engineers and mathematicians who assist our clients in deploying our solutions to be amongst the most advanced trading systems and analytics available.

 Options City 

OptionsCity Software (www.optionscity.com) powers the trading, risk management and analytics needs of professional futures and options traders, market-makers, introducing brokers and financial institutions worldwide. OptionsCity’s diverse suite of powerful tools includes Metro, its flagship electronic trading and market-making platform, and Freeway, an automated trading engine designed to build, test, and deploy algorithms and custom trading strategies. OptionsCity also offers a cloud-based futures trading platform, CityTrader, with its REST-based, easy-to-implement City API for accessing futures and options market data and analytics. OptionsCity's latest offering, City Execution, allows Thomson Reuters Eikon users to execute futures and options trades seamlessly from within Eikon.

Nodal Exchange

Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American energy markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. Nodal Exchange offers a Henry Hub natural gas contract providing cross-margining benefits with participant’s power portfolios. Nodal Exchange contracts are cleared by Nodal Clear, a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. More information: www.nodalexchange.com

 

Dash Financial

At Dash, we believe in designing advanced, future-proof and fully transparent tools for the institutional trading community and delivering highly customizable trading technologies, execution services, analytics and regulatory tools. We value craftsmanship and provide a consultative approach to help our partners achieve their goals to far exceed best execution requirements when it comes to workflow, execution, reporting and compliance. As microstructure, execution, and workflow experts, we believe in delivering simple, powerful, effective and transparent technologies with unmatched service and support.

 

CQG

CQG provides high-performance trade routing, global market data, and advanced technical analysis tools for professional traders worldwide. CQG partners with more than one hundred FCM environments and provides Direct Market Access to more than forty-five exchanges through its global network of co-located Hosted Exchange Gateways. CQG’s server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease-of-use. CQG's market data feed consolidates more than seventy-five sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities as well as data on debt securities, industry reports, and financial indices.

Rival Systems

Rival Systems (www.rivalsystems.com) empowers professional traders with the technology and resources required to compete in today’s markets. Rival provides a comprehensive technology solution with award-winning platforms, including: Rival Trader, a sophisticated, ultra-low latency derivatives trading system; Rival API, an algorithmic strategy development framework; and Rival Risk, a fully hosted enterprise risk management platform; as well as extensive training and support.  Rival Systems has distinguished itself in the industry through its premier service, exceptional speed and advanced features designed to help users gain an edge in the market.

 

 

OCC

OCC is the world’s largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC is a cost-effective, customer-driven organization that delivers world-class risk management, clearance and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures and securities lending transactions. It operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). OCC has been designated by the Financial Stability Oversight Council as a Systemically Important Financial Market Utility (SIFMU), which reflects OCC’s critical role within the U.S. financial market infrastructure.

 

In 2016, OCC cleared 4.17 billion equity derivatives contracts, representing its fifth-highest volume year ever. OCC stock loan activity in 2016 was up 37 percent from the previous year with nearly two million new loan transactions.

More information about OCC is available at www.theocc.com

 

Supporting Partner

 

R.J. O'Brien

R.J. O’Brien Limited (RJOL) provides clearing and settlement services to professional and eligible counterparty clients who transact business on the world's leading futures and options exchanges. RJOL offers clearing and execution-only services, risk management and direct market access to exchange-listed financial and commodity derivatives worldwide. Proximity and colocation services are also provided. RJOL offers the latest in order entry technology coupled with 24-hour execution and clearing on every futures exchange worldwide.

R.J. O’Brien Limited is a UK affiliate of R.J. O’Brien & Associates, the oldest and largest independent futures brokerage and clearing firm in the United States. Clearing more than 80,000 client accounts, the firm provides a full range of services to many of the best known commercial and institutional accounts worldwide as well as the industry’s largest global network of introducing brokers. With client assets of approximately $5 billion, RJO is a well-diversified, fully integrated FCM. The firm regularly captures top-tier market share in both agricultural and financial futures products at both the CME and CBOT.

For further information about RJOL, please visit www.rjobrien.co.uk

 

Swissotel


Swissotel

323 E. Wacker Drive 60601-9722

Chicago, USA