09:30

Registration

10:00

Welcome
Introduction to FPL

Speakers

Stuart Adams, EMEA Regional Director, FPL
Chris Jackson, Co-Chair Regional Committee, FPL, Director, Head of EMEA Execution Sales, Citigroup

The Evolving Global Trading Environment - What are the next steps?

This session will explore the issues, challenges and opportunities emerging in the global electronic trading environment.  It will provide a macro view of where the global markets are today and the changes currently taking place within the:

• ECN/Exchange community
• Regulatory landscape
• Algorithmic trading environment
• High frequency trading environment
• Fragmentation arena

Moderator

Stuart Adams, EMEA Regional Director, FPL

Speakers

Brian Gallagher, Head of European Electronic Trading, MD, Morgan Stanley
Peter Johnston, EMEA Head, EMSX Products, Bloomberg
David Lester, CEO, Turquoise
Tim Wildenberg, Head of Direct Execution, EMEA, UBS

High Frequency Trading and the Low Latency Arms Race

This session will look at what high frequency trading (HFT) is and how firms are currently using, capitalising on, or adapting to HFT practices and what the future holds.  It will also focus on the practical steps firms can take to achieve the goal of ever decreasing latency rates, identifying where, within the trade life-cycle, latency should be targeted to achieve maximum results.   In summary, this session will explore:

• HFT strategies
• Co-location
• Execution venues
• Regulations
• The race to low latency

Presenter / Moderator

Kevin Houstoun, Co-Chair FPL Global Technical Committee, Chairman and Founder, Rapid Addition

Speakers

Bill Fenick, European Business Manager, Real Time Information, Thomson Reuters
Duncan Higgins, Director, Head of Electronic Sales, Investment Technology Group (ITG)
Chris Jackson, Co-Chair EMEA Regional Committee, FPL, Director, Head of EMEA Execution Sales, Citigroup
Rob Lane, Markets Manager Electronic Trading, Interactive Data
Ann Neidenbach, SVP, Global Technology Services, NASDAQ OMX
Kee-Meng Tan, Managing Director, Head of Electronic Trading Group, Knight Capital

12:00

Coffee Break

12:30

Regulatory Challenges Impacting the European Market

This session will focus on the following regulatory changes and the challenges these present to the region:

• MiFID II – the next evolution
• UCITS4
• SEPA
• Naked blanking
• High frequency trading rule changes

Presenter / Moderator

Chris Pickles, Chair MiFID Forum, Head of Marketing - Financial Markets & Wholesales Banking, BT Global Services

Speakers

Magnus Billing, Chief Legal Counsel Europe, Office of General Counsel, NASDAQ OMX
Bob Cumberbatch, Director of European Business Lines, Interactive Data
Graham Dick, Head of Business Development, Chi-X Europe
Fredrik Hjorth, Managing Director, Tradeflow
Fredrik Lindqvist, President, Neonet Securities

What is Next for the Nordic Markets?

This panel session will invite leading representatives from the Nordic Buy and Sell-Side community to share the markets’ key priorities going forward in 2011 and 2012.  This session will explore the further challenges and opportunities anticipated by the evolving Nordic market, namely:

• Increased electronic trading
• The impact of new trends
• Changing client / broker relationships
• An increasingly fragmented landscape

Moderator

Fredrik Hjorth, Managing Director, Tradeflow

Speakers

Graham Dick, Head of Business Development, Chi-X Europe
Mattias Hammarqvist, Head of Nordic Sales, NASDAQ OMX
Patrik Nylander, Head of Sales Trading, Neonet Securities
Asa Palm, Head of Electronic Salestrading, SEB
Ian Salmon, Head of Enterprise Business Development, Fidessa

Welcome & Introduction

Speaker

Kevin Houstoun, Co-Chair FPL Global Technical Committee, Chairman and Founder, Rapid Addition

Attendees at this session will gain an understanding of how the FIX family of Protocols have developed over the past 12 months to deliver enhanced efficiencies through standardisation. Looking forward it will then provide an update on a number of key technical initiatives currently in progress by FPL focused on market data optimisation, inter-party latency and high frequency trading, and how these projects are set to evolve in coming months.

Speaker

Kevin Houstoun, Co-Chair FPL Global Technical Committee, Chairman and Founder, Rapid Addition

No matter whether your firm is a high frequency trading shop or simply routing order flow, the entire industry is focused on reducing latency throughout the trading process. This session will focus on identifying where latency exists within the trade lifecycle; identifying the relevant considerations and recommending best practices to achieve a low latency FIX solution.

Speaker

Henry Young, Director of Product Development, TS-Associates

The FPL Roadmap: Supporting the Evolving Needs of the Trading Community

Attendees at this session will gain an understanding of the standards that create the FIX family of offerings - the FIX^SM and FIXatdl^SM.  This session will explore the benefits these standards offer to traders in the Nordics, how they have developed over the past 12 months and current levels of adoption. It will then look at additional technical projects currently in progress by FPL, the developments that FPL will be delivering to the trading community in the next months and how firms in the Nordics can contribute to the future technical developments offered by FPL.

Presenter/Moderator

Stuart Adams, EMEA Regional Director, FPL

Speakers

Mikael Brännström, Trading System Developer, NGM
Neil Cook, Head of Product Design, SimCorp
Jonas Hansbo, CEO, TBricks
Anders Henriksson, CEO, CameronTec
Steve Wilkinson, Director, Cornerstone Technology

In December 2011 FPL will be formulating a new High Frequency Trading working group that will seek to define a new highly efficient and very concise protocol for electronic trading, which can be optimised to support very high frequency trading, with the ability to scale up to support the most complex instructions.

This session will explore the charter that has been set for this group, proposed methods, the alternatives that could be explored, challenges and how this new protocol could be used to support your firm’s future high frequency trading needs.

Speaker

Rolf Andersson, CEO, Pantor Engineering

Coping with FIX flexibility:  Model Driven Engineering applied to FIX interface development (without a performance overhead)

The flexibility of the FIX standard presents a challenge when developing generic interfaces to other systems. Not only the FIX message content but even the message flow can widely differ between business use and FIX versions. FIX components need to be designed and developed with this in mind if re-usability, short deployment cycles and maintainability are required.
The presentation will show how concepts of Model Driven Development can be used on a Domain Specific Language to tackle the above problem.

Speakers

Antonio Pulido Greaves, Product Manager - Integrations, SunGard
Nils Undén, Chief Architect, Chief Product Owner - Platform, SunGard

Flashes and Crashes:  The Market Structure 6 months on

This session will focus on the role technological development has played in both responding to existing market structure, as well as triggering policy responses from regulators. The panel will analyse specific examples where the use of technology in low-volume volatile markets has led to regulatory concerns, behavioural changes in market participants, and the questioning of market protection mechanisms.

This session will include focus on:

• The US flash crash, causes and effects
• The growth of high frequency, electronic market making and computer trading
• The new generation of self adapting algos
• Possible Designated Market Maker (DMM) type conditions on Electronic Liquidity Providers (ELPs) for European markets

Presenter/Moderator

Chris Jackson, Co-Chair FIX Protocol EMEA Regional Committee, Director, Head of EMEA Execution Sales, Citigroup

Speakers

Diana Chan, CEO, EuroCCP
Matteo Cassina, President, Citadel Execution Services Europe
Michael Krogmann, Executive Vice President - Head of Department XETRA Market Development - Institutional Equity, Deutsche Boerse
Dave Mishoe, Managing Director, SunGard
Andrew Morgan, Head of autobahn Equity Europe, Deutsche Bank

Based upon directions communicated through the charter for the upcoming High Frequency Trading working group this session will communicate concept work currently in progress and the preliminary results that have been generated.

Speaker

Anders Furuhed, CTO, Pantor Engineering

This session will introduce the new all FIX exchange, it will look at the challenges and hurdles that have been overcome as it has developed, the feedback that has been received from members and ISVs and requirements going forwards.

Speaker

John Sjöberg, CTO, Nordic Growth Market

There are currently requirements for the new High Frequency Trading FIX Protocol to support the extreme speed of Algo M2. This session will explore details regarding the preferred interface architecture, discuss protocol flexibility versus performance and the work that is planned for the High Frequency Trading working group in this area.

Speaker

Hirander Misra, CEO, Algo Technologies

How Smart is your Smart-Router?

This session will focus on what a smart-order-router (SOR) should achieve and whether your SOR is really working for you.

Transaction Cost Analysis (TCA) has become an integral component of the trade process. Central to this is how your firm is able to analyse the end output in the form of measurable quantifiable performance.  This session will look into how the link between the SOR and the TCA tools adopted is developing, what the buy-side requires from SOR and TCA providers and is there scope to build your own or is outsourcing the only option?

Moderator

Christer Wennerberg, CTO of Equity Trading Technology, SEB

Speakers

Mike Googe, TCA Specialist Europe, Bloomberg
Olof Neiglick, CEO, Burgundy
Simo Puhakka, Head of Trading, Pohjola Asset Management
Fernando Ripolles, Liquid Markets Origination, EMEA, Nomura
Brian Schwieger, Director - EMEA Execution Services, BAML
Michael Sparkes, Principal Consultant, Investment Technology Group (ITG)

Introduction to Low Latency Networking

This session will provide an overview of the different latency sources that exist, it will focus on networking aspects, the different technologies that can be used and the various deployment options.

Presenter

Rolf Andersson, CEO, Pantor Engineering

This panel session will explore the different deployment options available, what is used now, and what will be used within 2 years. It will compare price and performance, what users can expect today and how this is likely to evolve over the next 24 months, absolute speed verse predictability, industry efforts currently in place and how this is being considered as part of the overall technology roadmap.

Moderator

Kevin Houstoun, Co-Chair FPL Global Technical Committee, Chairman and Founder, Rapid Addition

Speakers

Rolf Andersson, CEO, Pantor Engineering
Bill Fenick, European Business Manager, Real Time Information, Thomson Reuters
Ian Jack, Director, SFTI Europe Business Development, NYSE Technologies
Matheu Leonards, Technical Director, Financial Services, EMEA, Juniper Networks

Summary & Closing Session

Following the extensive discussion these topic areas will generate throughout the day, the FPL EMEA Regional Director will close with a summary of the day’s findings, generating possibly as many questions as answers for the delegates in attendance as they reflect on the subjects, the different thoughts and perspectives shared and what impact this insight will have on their trading desk moving forward.

Presenter

Stuart Adams, EMEA Regional Director, FPL