TO REGISTER: T: +65 6722 9388 F: +65 6720 3804 E: [email protected]W: www.tradetechasia.com Focus Day: 7th November 2006 TCA Workshop: 7th November 2006 Main Conference: 8th & 9th November 2006 Swissôtel Stamford, Singapore Trading Asia: Enhancing Liquidity, Improving Efficiencies & Optimising Investment Performance Through Next-Generation Trading Strategies & Technologies • SCHRODER INVESTMENT MANAGEMENT • AXA ROSENBERG INVESTMENT MANAGEMENT • BARCLAYS GLOBAL INVESTORS JAPAN • GMO AUSTRALIA • ALLIANZ GLOBAL INVESTORS • JPMORGAN ASSET MANAGEMENT (JAPAN) • MARTIN CURRIE • ALLIANCE BERNSTEIN • PRUDENTIAL ASSET MANAGEMENT (SINGAPORE) • JANUS CAPITAL • MONETARY AUTHORITY OF SINGAPORE • BASETEN CAPITAL MANAGEMENT • HENDERSON GLOBAL INVESTORS • ABN AMRO ASSET MANAGEMENT (ASIA) • GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION • FIRST STATE INVESTMENTS • LOMBARD ODIER DARIER HENTSCH • INVESCO HONG KONG • MERRILL LYNCH INVESTMENT MANAGERS • OPES PRIME ASSET MANAGEMENT • DAIWA ASSET MANAGEMENT (HONG KONG) • BARING ASSET MANAGEMENT (ASIA) • NOMURA ASSET MANAGEMENT SINGAPORE • UBS GLOBAL ASSET MANAGEMENT • OCBC PRIVATE BANK • APS ASSET MANAGEMENT • BLACK RIVER ASSET MANAGEMENT (ASIA) • ACADIAN ASSET MANAGEMENT • TANTALLON CAPITAL MANAGEMENT • JF ASSET MANAGEMENT (TAIWAN) • BARCLAYS GLOBAL INVESTORS • PHILLIP CAPITAL MANAGEMENT MALAYSIA • FERRELL ASSET MANAGEMENT • DNB NOR ASSET MANAGEMENT • PRINCIPAL GLOBAL INVESTORS • AR CAPITAL • DBS ASSET MANAGEMENT • ASIAN ASSET MANAGEMENT MALAYSIA • LANSDOWNE PARTNERS • NORTHPOINT INVESTMENT PARTNERS • MAYBAN INVESTMENT MANAGEMENT • MIR INVESTMENT MANAGEMENT • VEGA CAPITAL MANAGEMENT • DEUTSCHE ASSET MANAGEMENT • ARISAIG PARTNERS BUY SIDE Free Attendance For The Entire 3 Days 69 Senior Buy Side Participants Already Confirmed Including Representatives From: Principal Sponsors: Lead Sponsor: Steve Wood, Executive Director, Global Head of Trading, SCHRODER INVESTMENT MANAGEMENT Todd Prado, Head of Trading – Asia, JANUS CAPITAL Michael Holman, Head of Global Trading, AXA INVESTMENT MANAGEMENT Tetsuo Otashiro, General Manager & Chief Representative, Singapore, TOKYO STOCK EXCHANGE Mark Talbot, Chief Executive Officer, Asia ex Japan, BARCLAYS GLOBAL INVESTORS Kent Rossiter, Head of Regional Asia Pacific Trading, ALLIANZ GLOBAL INVESTORS Frédéric K. Dawance, Head of Trading, Execution & Markets, LOMBARD ODIER DARIER HENTSCH Greg Yanco, Manager Institutional and Wholesale Markets, AUSTRALIAN STOCK EXCHANGE OUTSTANDING PANEL OF 42 INTERNATIONAL SPEAKERS INCLUDING: Jonathan Fenby, CBE, Former Editor, SOUTH CHINA MORNING POST • Exchanges: Hear how the region’s key stock exchanges are developing their products and services • Liquidity: Determine how best to access and use alternative pools of liquidity • DMA: Evaluate progress towards pan-Asian adoption of electronic trading and direct execution • Performance Measurement: Gain a detailed insight into the latest trading analysis techniques • Algorithmic Trading: Discover how the buy side are really using algorithms • Unbundled Execution: Assess how moves towards unbundling in AsiaPac will impact your business SPECIAL GUEST SPEAKER “A great forum to hear the views of other buyside traders on the latest developments in our industry” Stanley Luk, Associate Director, Head of Dealing, INVESCO HONG KONG OVER 375 ATTENDEES IN 2005 INCLUDING OVER 110 BUY SIDE Market Structure Focus: What Really Matters In Asian Trading? Ensuring Your Business Benefits From The Latest Technology & Trading Practices In These Rapidly-Developing Markets (See pages 3 and 5) 7th November 2006 FOCUS DAY Practical Applications Of Transaction Cost Analysis Gain A Detailed Insight Into How TCA Can Help You Evaluate Your Desk And Effectively Determine Your Ideal Execution Mix (See pages 3 and 6) 7th November 2006 TCA WORKSHOP Official Association: Organised By: WBR_0381 TTAsia06v17 7/14/06 9:54 AM Page 2
Focus Day: 7th November 2006TCA Workshop: 7th November 2006Main Conference: 8th & 9th November 2006Swissôtel Stamford, Singapore
Trading Asia:Enhancing Liquidity, Improving Efficiencies &Optimising Investment Performance Through
Next-Generation Trading Strategies & Technologies
• SCHRODER INVESTMENT MANAGEMENT• AXA ROSENBERG INVESTMENT MANAGEMENT• BARCLAYS GLOBAL INVESTORS JAPAN• GMO AUSTRALIA• ALLIANZ GLOBAL INVESTORS• JPMORGAN ASSET MANAGEMENT (JAPAN)• MARTIN CURRIE• ALLIANCE BERNSTEIN• PRUDENTIAL ASSET MANAGEMENT
(SINGAPORE)• JANUS CAPITAL• MONETARY AUTHORITY OF SINGAPORE• BASETEN CAPITAL MANAGEMENT• HENDERSON GLOBAL INVESTORS• ABN AMRO ASSET MANAGEMENT (ASIA)• GOVERNMENT OF SINGAPORE INVESTMENT
CORPORATION• FIRST STATE INVESTMENTS• LOMBARD ODIER DARIER HENTSCH• INVESCO HONG KONG• MERRILL LYNCH INVESTMENT MANAGERS• OPES PRIME ASSET MANAGEMENT• DAIWA ASSET MANAGEMENT
(HONG KONG)• BARING ASSET MANAGEMENT (ASIA)• NOMURA ASSET MANAGEMENT SINGAPORE• UBS GLOBAL ASSET MANAGEMENT• OCBC PRIVATE BANK• APS ASSET MANAGEMENT• BLACK RIVER ASSET MANAGEMENT (ASIA)• ACADIAN ASSET MANAGEMENT• TANTALLON CAPITAL MANAGEMENT• JF ASSET MANAGEMENT (TAIWAN)• BARCLAYS GLOBAL INVESTORS• PHILLIP CAPITAL MANAGEMENT MALAYSIA• FERRELL ASSET MANAGEMENT• DNB NOR ASSET MANAGEMENT• PRINCIPAL GLOBAL INVESTORS• AR CAPITAL• DBS ASSET MANAGEMENT• ASIAN ASSET MANAGEMENT MALAYSIA• LANSDOWNE PARTNERS• NORTHPOINT INVESTMENT PARTNERS• MAYBAN INVESTMENT MANAGEMENT• MIR INVESTMENT MANAGEMENT• VEGA CAPITAL MANAGEMENT• DEUTSCHE ASSET MANAGEMENT• ARISAIG PARTNERS
The entire conference is packed with 34 cutting-edge casestudies, panel discussions and expert analyses from 42industry experts, covering all the issues that you told us arecrucial to your daily business. In particular, be sure that youdon’t miss the following highlights:
Discover How The Buy Side Are Really Using Advanced Trading Tools:Benefit from the expertise of Steve Wood, Schroder InvestmentManagement’s Global Head of Trading, as he provides a detaileddiscussion of the buy side’s progress towards the adoption of advancedexecution technology and how they are overcoming the inhibitors thatcurrently exist in some AsiaPac markets. (see page 6)
Gain A Detailed Insight Into How The Region’s Stock Exchanges AreMoving To Facilitate DMA: Don’t miss the exchanges sessions wherepanelists from leading AsiaPac exchanges will discuss progress towardsprovision of full electronic trading facilities throughout the region and TetusoOtashiro of Tokyo Stock Exchange will provide a comprehensive evaluationof how the Exchange is adapting its business model to facilitate DMA andassess the advantages this will bring to all participants. (see page 5)
Evaluate How The Buy Side Are Improving Investment PerformanceThrough Effective Application Of Transaction Cost AnalysisTechniques: Attend the insightful case study on TCA where Kent Rossiter,Head of Regional Asia Pacific Trading with Allianz Global Investors willstep you through how to select the analysis model best suited to yourinvestment process, determine the most suitable benchmarks with which tocompare your trade performance and select appropriate peer group datafor comparison. (see page 8)
Assess How Changes And Evolution In Global Market Structure HaveResulted In New Strategies And Technologies To Improve The WayYou Trade: The drive to achieve greater efficiencies and enhancedproductivity together with changing regulatory requirements in manyinternational markets has resulted in development of many excitingtechnologies and strategies for enhancing trading performance. KingsleyJones, Senior Quantitative Analyst with AllianceBernstein will provide aninsightful analysis of how AsiaPac firms can leverage on the technologicaladvances made in other regions to maximise the benefits for theirbusiness. (see page 8)
Establish How To Maximise Alpha Generation Through Multi-AssetClass Trading Strategies: Multi-asset class trading is one of this year’s hottopics, but how is it really being achieved on the buy side trading desk?Barclays Global Investors have always taken a multi-asset approach, soyou can benefit from their expertise as Richard Odoi, Head of Trading for BGIJapan gives a detailed evaluation of the different tools that are available tofacilitate efficient trading across multiple asset classes. (see page 7)
Discover The Specialist Project Management And Portfolio TradingRequirements Of Effective Transition Management: When a majorchange is made to an investment portfolio, it is essential that costs andrisks be minimised during the transition, and trading is one of the mostcrucial areas in which this can be achieved. Tom Clapham, SeniorConsultant with Mercer Investment Consulting will give you an expertanalysis of how best to manage a transition and effectively monitor andmeasure its performance. (see page 9)
Examine Progress Towards Unbundling Of Execution And ResearchAnd Assess The Benefits It Can Bring To Your Business: Attend theunbundling sessions to gain a comprehensive overview of progress towardsunbundling in Asia Pacific and hear from Trevor Spencer, Deputy Head ofDealing and Asset Control with Martin Currie how the UK and Europe’srecent regulations on unbundling and best execution have promoted a win-win for all parties in the investment process. (see page 5)
Hear What The Buy Side Really Think Of Algorithmic Trading AndEvaluate Its True Impact On Their Daily Business: If you want to learnwhether algorithmic trading is really helping the buy side to drive downtrading costs and enhance investment performance, then don’t miss thesessions on algorithmic trading, where leading buy side traders from theregion will share their real day-to-day experiences of using algorithms andMichael Holman, Head of Global Trading with AXA Rosenberg InvestmentManagement will cut through the hype surrounding this technology anddiscuss the value it really brings to your business.
(see page 7)
Buy Side Stock Exchanges
Regulators Sell Side
Solution Providers Other
Australia Brunei
Hong Kong China
Japan Indonesia
South Korea Malaysia
Singapore Thailand
Taiwan
TradeTech Asia 2005: Full Representation Of The Equity Trading Market
TradeTech Asia 2005: A Truly Pan-Asian Audience
Once again, TradeTech Asia already has an unrivalled lineup of buyside speakers and confirmed attendees, including:• Chief Executive Officer, Asia ex Japan, BARCLAYS GLOBAL INVESTORS • Executive Director, GlobalHead of Trading, SCHRODER INVESTMENT MANAGEMENT • Head of Global Trading, AXAROSENBERG INVESTMENT MANAGEMENT • Head of Trading, BARCLAYS GLOBAL INVESTORSJAPAN • Head Trader – Asia, AXA ROSENBERG INVESTMENT MANAGEMENT • Head of ProgramTrading (London), SCHRODER INVESTMENT MANAGEMENT • Head of Australian Equities, GMOAUSTRALIA • Head of Regional Asia Pacific Trading, ALLIANZ GLOBAL INVESTORS • SeniorManager (Projects), GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION • Head ofCentral Dealing, JPMORGAN ASSET MANAGEMENT (JAPAN) • Associate, MONETARY AUTHORITYOF SINGAPORE • Deputy Head, Dealing and Asset Control, MARTIN CURRIE • Head of TradingAsia ex Japan, SCHRODER INVESTMENT MANAGEMENT • Head of Trading (Toyko), SCHRODERINVESTMENT MANAGEMENT • Investment Manager, GOVERNMENT OF SINGAPOREINVESTMENT CORPORATION • Senior Quantitative Analyst, ALLIANCE BERNSTEIN • PortfolioAnalyst, ACADIAN ASSET MANAGEMENT• Director, Head of Equity Dealing, PRUDENTIAL ASSETMANAGEMENT (SINGAPORE) • Head of Trading – Asia, JANUS CAPITAL • Head of Dealing, ABNAMRO ASSET MANAGEMENT (ASIA) • Head of Trading (Australia), SCHRODER INVESTMENTMANAGEMENT • Managing Director, BLACK RIVER ASSET MANAGEMENT (ASIA) • CEO,BASETEN CAPITAL MANAGEMENT • Portfolio Manager, MONETARY AUTHORITY OF SINGAPORE• Head of Asian Dealing, HENDERSON GLOBAL INVESTORS • Head of Equity Dealing, FIRST STATEINVESTMENTS • Head of Dealing, MERRILL LYNCH INVESTMENT MANAGERS • Senior InvestmentManager, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION • Associate Director, Headof Dealing, INVESCO HONG KONG • Head of Trading, Execution & Markets, LOMBARD ODIERDARIER HENTSCH • Associate, OPES PRIME ASSET MANAGEMENT • Portfolio Manager, DAIWAASSET MANAGEMENT (HONG KONG) • Head of Strategy Engineering – Asia Pacific, AXAROSENBERG INVESTMENT MANAGEMENT • Trader, AR CAPITAL • Head of Dealing, Asian Equities,BARING ASSET MANAGEMENT (ASIA) • Trading Manager, NOMURA ASSET MANAGEMENTSINGAPORE • CEO, OPES PRIME INVESTMENT MANAGEMENT • Vice President, Asian EquityTrading, ALLIANCE BERNSTEIN (SINGAPORE) • Senior Trader, UBS GLOBAL ASSETMANAGEMENT • Trader, APS ASSET MANAGEMENT • Information Technology Manager, ALLIANZGLOBAL INVESTORS • Project Manager, PRUDENTIAL ASSET MANAGEMENT (SINGAPORE) •Technical Manager, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION • Head ofTrading, OCBC PRIVATE BANK • Portfolio Associate, ACADIAN ASSET MANAGEMENT • Director,TANTALLON CAPITAL MANAGEMENT• Dealer, ABN AMRO ASSET MANAGEMENT • Head Trader,JF ASSET MANAGEMENT (TAIWAN) • Head of Asian Dealing, DNB NOR ASSET MANAGEMENT• Trader, PRINCIPAL GLOBAL INVESTORS • Senior Investment Executive, AR CAPITAL • SeniorDealer, DBS ASSET MANAGEMENT • Investment Strategist/Fund Manager, ASIAN ASSETMANAGEMENT MALAYSIA • Head of Trading, LANSDOWNE PARTNERS • Executive Director,PHILLIP CAPITAL MANAGEMENT MALAYSIA • Fund Manager, FERRELL ASSET MANAGEMENT• Business Manager, Equity Trading, Asia Pacific, DEUTSCHE ASSET MANAGEMENT • Analyst,NORTHPOINT INVESTMENT PARTNERS • Dealer, HENDERSON GLOBAL INVESTORS • Head ofEquity (Institutional), MAYBAN INVESTMENT MANAGEMENT • Quantitative Analyst, MIRINVESTMENT MANAGEMENT • Chief Investment Officer, VEGA CAPITAL MANAGEMENT • Headof Asian Trading, DEUTSCHE ASSET MANAGEMENT • Dealer, ARISAIG PARTNERS
Singapore – Asia’s Vibrant Financial Hub The Luxurious Swissôtel Stamford
WBR_0381 TTAsia_New 7/13/06 11:19 AM Page 3
3
Tuesday 7th November: Focus Day
Market Structure Focus: What Really Matters In Asian Trading?
Ensuring Your Business Benefits From The Latest Technology & Trading Practices In These Rapidly-Developing Markets
08.00 COFFEE AND REGISTRATION
09.00 Chairman’s Opening Address
09.15 What Does The Future Hold For Pan-Asian Investment Management And How Will This Impact Securities Trading?
Mark Talbot, Chief Executive Officer, Asia ex Japan, BARCLAYS GLOBAL INVESTORS
09.45 Critical Factors For Buy Side Trading Success: Evaluating Progress Towards The Adoption Of Electronic Trading
Technologies Throughout The RegionNeil Katkov, Group Head Asia Research, CELENT
10.15 COFFEE
10.45 Assessing How The Tokyo Stock Exchange Has Adapted ItsBusiness Model To Facilitate Direct Market Access And Advanced Electronic Trading Strategies
And Evaluating The Advantages For All ParticipantsTetsuo Otashiro, General Manager & Chief Representative, Singapore,
TOKYO STOCK EXCHANGE
11.15 What Does The Future Hold For Exchanges In Asia/Pacific And How Is Their Business Model Evolving To The Benefit Of All Participants?
Greg Yanco, Manager Institutional and Wholesale Markets, AUSTRALIAN STOCK EXCHANGE
Speaker to be confirmed, SINGAPORE EXCHANGETetsuo Otashiro, General Manager & Chief Representative, Singapore,
TOKYO STOCK EXCHANGEVidhu Shekhar, Vice President – New Products,
NATIONAL STOCK EXCHANGE OF INDIA
12.00 LUNCH
13.30 Side By Side: Examining The Roles Of Japan And Korea In A Global Electronic Trading Pool
Josephine Kim, Senior Sales Representative, & Tomoko Komori, Head of Equity Electronic Trading Sales, Japan, BLOOMBERG LP
14.00 Evaluating The Rewards Of Unbundling Execution And Research And Ensuring Your Business Benefits From Its Impact On
Trading Strategies And Market StructureFrancisco Izawa, Head of Electronic Client Services, Asia, LEHMAN BROTHERS
14.30 COFFEE
15.00 Examining How Unbundling In The UK And Europe Has Created A Win-Win For All Parties – Sell Side, Buy Side And End Client
Trevor Spencer, Deputy Head, Dealing and Asset Control, MARTIN CURRIE
15.30 What Benefits Can Unbundling In Asia Bring To Buy Side And Sell Side And How Will The Trading Business Model Evolve In Its Wake?
Trevor Spencer, Deputy Head, Dealing and Asset Control, MARTIN CURRIEOlivier Thiriet, Managing Director, Asia Pacific AP Head, CREDIT SUISSERichard Odoi, Head of Trading, BARCLAYS GLOBAL INVESTORS JAPAN
16.15 CLOSE OF FOCUS DAY
16.30 to 18.00 SEPARATELY BOOKABLE TCA WORKSHOP
Practical Applications Of Transaction Cost AnalysisAndrew Freyre Sanders, Head of Algorithmic Trading,
JPMORGAN(see across page for details)
PANELDISCUSSION
EXCHANGESPANEL
DISCUSSION
BUY SIDECEO
PERSPECTIVE
BUYSIDECASE STUDY
EXCHANGECASE STUDY
16.30 – 18.00
Practical Applications Of Transaction Cost Analysis
Gain A Detailed Insight Into How TCA Can Help You Evaluate Your Desk And Effectively
Determine Your Ideal Execution Mix
Both buy side and sell side have invested heavily into TransactionCost Analysis in recent years, and with the ongoing drive to improve
efficiencies and reduce execution costs, this trend is set tocontinue. In this workshop, you will have the opportunity to learnhow your business can really benefit from the latest developments
in this vital technique.
Led by: Andrew Freyre Sanders, Head of Algorithmic Trading,
TCA
WORKS
HOP 7th
November
2006
Networking In The Exhibition Zone
Unwinding At The Cocktail Reception
Reuters would be pleased if you joined ourGala Cocktail Reception, which takes placeon November 8th from 17.00 to 18.30after the day's sessions close.
This is a perfect opportunity to networkwith the brokers, traders and technologyproviders you most want to meet whilstenjoying drinks and canapes. After a busyday of thought-provoking paneldiscussions and insightful presentations,you can unwind by sharing a drink withyour key contacts as you discuss theissues raised during the day and anyimplications for your business.
REUTERSGALA COCKTAIL RECEPTION
The Asia/Pacific economies are booming, with countries such as China and India spearheading this growth, and theregion’s capital markets are echoing the trend as more and more overseas investors commit to the region.However, it remains a region where business cultures, market structures, regulatory requirements and trading
strategies and techniques vary dramatically, plus the various markets are very fragmented and at widely differentstages of technological development, with progress often hampered by regulation.
To help you develop strategies to optimise your trading performance throughout the region, we have gathered theleading practitioners from buy side and sell side institutions, together with key experts from local stock exchanges andtop international research houses to provide you with an in-depth analysis of all these issues. Through a mixture ofpresentations and panel discussions, our speakers today will address your critical questions and provide you with theanswers you need to ensure your business benefits from the latest developments in these exciting markets.
Tuesday 7th NovemberMarket Structure Focus: What Really Matters In Asian Trading?
Ensuring Your Business Benefits From The Latest Technology & Trading Practices In These Rapidly-Developing Markets
08.00 COFFEE AND REGISTRATION09.00 Chairman’s Opening Address
09.15 What Does The Future Hold For Pan-AsianInvestment Management And How WillThis Impact Securities Trading?
In order to assess the latest state of play in the assetmanagement boardroom, and provide you with an insightinto likely future developments, it is a great pleasure towelcome Mark Talbot of Barclays Global Investors toTradeTech Asia. Mark is Chief Executive Officer of Asia exJapan and Chief Investment Officer for Asia Fixed Incomebased in Hong Kong. Prior to taking this role he wasresponsible for BGI's US active and index fixed incomebusiness. Mark was formerly head of international bonds atSSgA, where he managed global bond strategies with ateam of over 30 investment professionals located in Europeand Asia. Prior to joining SSgA in 1998, he was a fixedincome investment manager at Matheson Investment andprior to that at Nissan Mutual Life. He has experiencemanaging a spectrum of fundamental and quantitativestrategies from active global to passive. In his sessiontoday, Mark will address:• How are the requirements of institutional investors
changing and what products and services are investmentmanagers developing to meet these needs?
• How does the dealing function fit within the overallinvestment process and how must it evolve goingforwards to continue to add value?
• How does the complex and inhomogenous Asianregulatory environment impact the investmentmanagement business model and what improvementsare needed?
Mark Talbot, Chief Executive Officer, Asia ex Japan,BARCLAYS GLOBAL INVESTORS
09.45 Critical Factors For Buy Side TradingSuccess: Evaluating Progress TowardsThe Adoption Of Electronic TradingTechnologies Throughout The Region
In a region where business practices, equity marketstructures, regulatory requirements and trading strategiesand techniques vary so dramatically, what is the progresstowards universal adoption of electronic trading and directexecution on the buy side, and what barriers must beovercome in order to advance this? This session will givethe “view from 35,000 feet” of where the region is reallypositioned on the electronic trading adoption curve. Neilproduces Celent’s research resports on trends in the Asianbanking, securities, and insurance industries and regularlyadvises leading financial institutions on their business,technology, and compliance strategies. He is widely quotedin the press and has appeared on CNBC and CNN. Beforejoining Celent, Neil was responsible for corporatecommunications for Tokyo-based Softbank, helping todefine the firm’s business and marketing strategies.Previously, he worked in the equity research department ofSalomon Brothers Asia. In his presentation, Neil willdiscuss:• Who are the major users of electronic trading in the
region and what are the benefits it has brought to theirbusiness?
• How do business practices, regulation and marketstructure in the different markets affect adoption ofelectronic trading and direct market access?
• Assessing the extent to which adoption of electronictrading is restricted to larger, international buy side firmsrather than local firms in the different countries
• To what extent is cross border trading in Asia inhibited bytechnological, cultural and regulatory disparities?
• business?
Neil Katkov,Group Head Asia Research,CELENT
10.15 COFFEE
10.45 Assessing How The Tokyo Stock Exchange Has Adapted Its Business Model To FacilitateDirect Market Access And AdvancedElectronic Trading Strategies And EvaluatingThe Advantages For All Participants
The Tokyo Stock Exchange has committed tocomprehensively upgrading and improving its electronic tradingsystem in order to avoid repeats of the various problems thatplagued the exchange last year. In this session, Tetsuo Otashirowill give a comprehensive overview of progress to date andoutline how the new systems will operate. Tetsuo joined TSE in1990 and has held various roles including Project Manager ofthe Information System Department, where he was in chargeof project management for system developments of TSE’sMAINS (real-time price dissemination system), Stock IndexCalculation System and TOSTNET Trading System.
Tetsuo Otashiro, General Manager &Chief Representative, Singapore,TOKYO STOCK EXCHANGE
11.15 What Does The Future Hold For Exchanges In Asia/Pacific And How Is Their Business Model Evolving To The Benefit Of All Participants?
The exchanges in Asia/Pacific are at very different points inthe trading technology adoption curve. In some cases progressis hampered by local regulations while in others, the exchangeshave wholeheartedly embraced the buy and sell sides’ desire forDMA and are changing their structures accordingly. In thissession, the panelists will discuss the following issues:• What are their plans for facilitating electronic and algorithmic
trading and how will they modify their infrastructures to copewith the increasing volumes this will produce?
• What is being done to avoid operational failures such asthose that have recently occurred on the Tokyo StockExchange?
• How are exchanges developing their business models toattract international investors?
• Examining the trend of non-Asian exchanges entering themarket through joint ventures with local exchanges: whatbenefits will this bring?
Greg Yanco, Manager Institutional and Wholesale Markets, AUSTRALIAN STOCK EXCHANGE
Speaker to be confirmed SINGAPORE EXCHANGE
Tetsuo Otashiro, General Manager &Chief Representative, Singapore,TOKYO STOCK EXCHANGE
Vidhu Shekhar, Vice President – New Products,NATIONAL STOCK EXCHANGE OF INDIA
12.00 LUNCH
13.30 Side By Side: Examining TheRoles Of Japan And Korea In A GlobalElectronic Trading Pool
Japan is by far and away the largest Asian market, but itposes many challenges in terms of technology limitations andmarket access. Korea is rapidly growing in importance in theregion as more and more overseas firms look to invest there, butthere are still a lot of barriers to overcome. Since joiningBloomberg LP in 2003, Josephine has worked with a range ofclients on both the buy-and-sell sides, including investmentbanks, hedge funds, private equity firms and asset managementfirms to facilitate electronic trading execution systems in theHong Kong and the Korean markets. Tomoko has been atBloomberg, based in Tokyo, since 2000 and is currentlyresponsible for leading the equity electronic trading businesssales team in Japan. In this session, you will gain a valuableinsight into the realities of doing business in these uniquemarkets as Josephine and Tomoko examine the following issuesand compare and contrast trading practices in both countries:
• Understanding how these countries are unlike most ofAsia in practice and legacy infrastructure
• Offering better liquidity: different reasons, different exchanges• Evaluating how market practices and cultural differences
hinder rapid growth• Examining the roles of large international buy and sell
sides versus domestic players
Josephine Kim, Senior Sales Representative, BLOOMBERG LP
Tomoko Komori, Head of Equity Electronic Trading Sales, Japan,BLOOMBERG LP
14.00 Evaluating The Rewards OfUnbundling Execution And ResearchAnd Ensuring Your Business BenefitsFrom Its Impact On Trading StrategiesAnd Market Structure
From a trading perspective, unbundling should providebetter ways for buy side firms to choose the best execution andliquidity destination. While unbundling in other regions hasbeen driven by regulation, it is likely that in Asia it will be drivenby the industry itself, which should enable the developmentand adoption of a model which really works for all parties. Thissession will provide a valuable insight into how moves towardsunbundling in the region will positively impact your businessstrategy. Francisco Izawa is a senior vice president in LehmanBrothers' connectivity group. Francisco joined LehmanBrothers in 2001 to run flow structured product sales, wherehe worked to implement online warrant trading. Hesubsequently moved to the connectivity desk and is now headof the Electronic Client Services group for Pan Asia. Beforejoining Lehman Brothers, Francisco headed the option tradingdesk at Société Générale Tokyo. In his presentation, Franciscowill address the following key issues:• What will be the likely impacts of unbundling on the sell
side business model and service delivery?• How will unbundling affect the ways in which people trade?• How will the fund manager/broker relationship evolve in
an unbundled world?
Francisco Izawa, Head of Electronic Client Services, Asia, LEHMAN BROTHERS
14.30 COFFEE
15.00 Examining How Unbundling In The UK And EuropeHas Created A Win-Win For All Parties –Sell Side, Buy Side And End Client
Regulations such as CP176 in the UK and MiFID inEurope are forcing buy side firms to unbundle their executionand research, provide full and transparent disclosure to endinvestors and prove that best execution has been achieved.As a result, some firms are now adopting an unbundledmodel as global best practice and the issue is moving up theagenda for firms worldwide. Martin Currie are recognised asone of the asset managers at the forefront of unbundling inthe UK and as Trevor is deputy head of the centralised globaldealing desk, senior dealer for Asia and Emerging Marketsand the principal dealer for the firm’s Japanese products, heis the ideal person to provide a detailed insight into theirexperiences in the UK and plans to extend this to Asia/Pacificas he discusses:• How have trading patterns changed in order to comply
with these new regulations?• Evaluating the role of commission sharing agreements in
the unbundling process• How do you determine the commission split between the
costs of research and execution?• What have been the effects of unbundling on
relationships with brokers and underlying clients?
Trevor Spencer, Deputy Head, Dealing and Asset Control, MARTIN CURRIE
WEDNESDAY 8TH NOVEMBER: MAIN CONFERENCE DAY ONE07.30 COFFEE AND REGISTRATION
08.30 Chairman’s Opening AddressBased in Hong Kong since 2003, Endre Markos brought
Bloomberg into the Asian arena of Execution Management inEquity and Futures Order Routing, where he manages thelargest broker-neutral equity platform for Asia Pacific withEquity Order Routing and Indications of Interest on FIX.Endre joined Bloomberg in Princeton in 1996 as a PortfolioSystems – R&D Analyst where he helped to create theInstitutional Holders search database and the analytic suitefor international funds, moving to Tokyo in 1999 to join theBusiness Development team in Equity Products as a SeniorAsian Equity Market Specialist. Numerous equity analyticsand trading screens used daily have his fingerprints on them.
Endre Markos, Head of Asian Execution Management, BLOOMBERG LP
08.45 Current Equity Market Structure And Conditions: What Are The Challenges That Must Be Overcome For The Buy Side To Make Effective Use Of Advanced Trading Tools?
Firms throughout the Asia/Pacific region without a doubthave the appetite to adopt DMA and algorithmic trading,but in many instances, the infrastructure to support this stillneeds to be developed. In his international role for one ofthe world’s leading fund managers, Steve is ideally placedto share the benefits of his experience as he discusses theprogress being made to support the adoption of technologythroughout the region and examine how the factors whichcontinue to inhibit progress may be overcome.• Analysing progress towards implementation of FIX and
DMA throughout the region• Breaking down the perceived barriers that are preventing
further progress• Which markets cannot be traded electronically and how is
this likely to change in future?• What are the real inhibitors of electronic trading in
different parts of Asia and how can you overcome them?• Commission Sharing and its impact on the mix of buy
side trading venues
Steve Wood, Executive Director, Global Head of Trading, SCHRODER INVESTMENT MANAGEMENT
09.15 The Key Issues Shaping TheTrading Continuum
With technology playing an increasingly important role inthe investment cycle the trading landscape is changingrapidly. In this session, Alasdair Haynes will share ITG’sviews on some of the key issues and questions that areshaping the industry today - focusing particularly on thevarious elements of the trading continuum such as pre- andpost-trade analysis, execution, and the future of ordermanagement systems.
Alasdair’s arrival at ITG in 1998 was preceded by a 20-year career in investment banking working in the UK,Europe and Asia. Alasdair will share the benefits of hisextensive global experience as he discusses:• Automation and the role of the trader• Maximising the value of trading• Pre-, intra and post-trade analysis• ITG’s predictions for the future of trading
Alasdair Haynes, Managing Director, Head of International, ITG
09.45 Critically Assessing The Future Of Advanced Execution Technology On The Buy SideTrader’s Desktop: Is It ReallyNecessary For Improving Trading InToday’s Markets?
In a year where “algorithms” has been the globalbuzzword, it is tempting to assume that they are the tool ofchoice for every buy side trader, but in reality, this appearsto be far from the case, since many firms are not yet evenusing DMA. In this session, our buy side panelists will givean insight into how they are really trading and why, anddiscuss what tools they need to improve their dailybusiness, while the sell side participants respond byaddressing how they are developing services to meet thebuy side’s needs. Key discussion points include:• What are the “must have” trading tools and why?• Where do DMA and algorithmic trading fit into the overall
trading mix?
• Gain an insight into the services the buy side require fromtheir brokers and what they believe must be done toimprove these
• What are the major inhibitors to adoption of advancedtrading technologies when trading local markets?
Steve Wood, Executive Director, Global Head of Trading, SCHRODER INVESTMENT MANAGEMENT
Speaker to be confirmed, LEHMAN BROTHERS
Michael Holman, Head of Global Trading, AXA ROSENBERG INVESTMENTMANAGEMENT
Matt McKeith, Head of Equity Dealing, FIRST STATE INVESTMENTS
10.30 COFFEE
11.00 Patterns Of Electronic Trading In Asia – A Comprehensive Study:
In this session, Cora Lee of Bloomberg LP will presentthe results of their comprehensive survey into the tradingpractices of the Asia/Pacific region’s leading buy side andsell side practitioners. Cora is a senior specialist for AsianConnectivity and Execution Management Systems and shespecialises in liquidity connectivity and implementation ofalgorithmic trading strategies offered through Bloomberg’selectronic trading multi-broker network, focusing onconsulting for the multi-asset classes order routingbusiness serving Hong Kong, Greater China and Australia.Featuring the results of in-depth research with seniorindustry professionals throughout the region, Cora’spresentation will provide you with real data and insight intothe following issues and more:• What are the electronic trading needs of the buy side?• Theory versus practice – is the sell side ready?• What is the electronic trading proficiency of Asia – do we
know enough?• Multi-asset class priorities
Cora Lee, Senior Sales Specialist, Asia Execution Management, BLOOMBERG LP
15.30 What Benefits Can Unbundling In Asia Bring To Buy Side And Sell Side And How Will TheTrading Business Model Evolve In Its Wake?
The advantages of unbundling for the buy side appear fairly obvious, assimplistically, it enables you to only pay for those services you require, but ifyou are no longer obtaining “free” broker research, does this mean you willhave to work harder? On the sell side, firms will have to re-evaluate theirbusiness model: should you just offer execution, is research your USP, or canyou continue to provide “best in class” service across the entire research andexecution mix? In this session our panelists will examine how the tradingbusiness model is likely to evolve in Asia as unbundling takes hold.• How will asset managers change their research purchasing decisions and
what will it mean for the sell side?• How will the fund manager/broker relationship evolve in an unbundled world?• What is the potential impact of unbundling on the sell side and is it an
opportunity or a threat?• Global broker versus independent research plus agency execution –
assessing the pros and cons of both models
Trevor Spencer, Deputy Head, Dealing and Asset Control, MARTIN CURRIE
Olivier Thiriet, Managing Director, Asia Pacific AP Head, CREDIT SUISSE
Richard Odoi, Head of Trading, BARCLAYS GLOBAL INVESTORS JAPAN
16.15 CLOSE OF FOCUS DAY
16.30 to 18.00: SEPARATELY BOOKABLE TCA WORKSHOP
Practical Applications Of Transaction Cost Analysis Gain A Detailed Insight Into How TCA Can Help You Evaluate
Your Desk And Effectively Determine Your Ideal Execution MixLed by: Andrew Freyre Sanders, Head of Algorithmic Trading, JPMORGAN
Rationale:Both buy side and sell side have invested heavily into Transaction Cost Analysis in recent years, and
with the ongoing drive to improve efficiencies and reduce execution costs, this trend is set to continue.In this workshop, you will have the opportunity to learn how your business can really benefit from theapplication of this vital technique.
This workshop provides you with a unique opportunity to benefit from Andrew’s unrivalled experience ofdeveloping and implementing TCA systems and strategies, as he guides you through the very latestdevelopments in this rapidly evolving field. The special interactive format of this workshop will also ensureyou have ample opportunity to discuss your specific questions in depth with Andrew and your industry peers.
What You Will Learn:• How to evaluate your trading desk• Using TCA to determine how best to integrate algorithms into your trading mix• How best can you define and measure the optimal execution mix• Using TCA to assess the effectiveness of your entire investment process
About Your Workshop Leader:Andrew, who has just relocated to Hong Kong, is head of JPMorgan Algorithmic Trading. He joined
JPMorgan in 2002 and is currently responsible for development of algorithmic trading strategies,transaction cost analysis, index research and trading and execution analytics. Prior to this he was adirector at Dresdner Kleinwort Wasserstein where he started within the quantitative strategydepartment and later was responsible for the global index research product. Andrew also sits on theDow Jones STOXX limited advisory committee. He also has first hand experience of implementingJPMorgan’s internal TCA system.
PANEL DISCUSSION
KEYNOTEBUY SIDEADDRESS
THEEXECUTIONSHOWDOWN
RESULTS OF THE
BLOOMBERG 2006
ELECTRONIC
TRADING SURVEY
“…… consistently produces an agenda thatwill appeal to both buy and sell sides. It isnow the must-attend event of the year”
Daemon Bear, Vice President & Head of Equity Dealing,JPMORGAN FLEMING ASSET MANAGEMENT
WBR_0381 TTAsia_New 7/13/06 11:19 AM Page 7
7
11.30 Evaluating The Pros And Cons Of Adopting A Multi-Asset Class Trading Strategy And OvercomingThe Technological Challenges Of ItsImplementation
Multi-asset class trading is one of the hot topics peopleare discussing this year, but what are the advantages suchan approach can bring to your business? BGI have alwaystaken a multi-asset approach on their trading desks, soRichard is the ideal person to discuss the tools that areavailable to facilitate efficient trading across multiple assetclasses and address the challenges that such a strategyproduces. Richard has been in his current role since 2001and prior to that spent 13 years on the sell side in a varietyof trading roles, so you will benefit from his wide experienceas he addresses:• How can a multi asset trading strategy improve your
trading efficiencies?• What are the key challenges of implementing such a
strategy and how can you overcome them?• Are electronic trading platforms able to support multi-
asset class trading?• What are the disadvantages of this approach?
Richard Odoi, Head of Trading, BARCLAYS GLOBAL INVESTORS JAPAN
12.00 Evaluating The Future OfExecution: Cutting Through The Fog AndStaying Focused On The Bottom Line
Continuing advances in technology are enabling brokersto introduce evermore sophisticated trading tools, but wheredo these fit into the overall execution business mix? Andrewis currently responsible for development of JPMorgan’salgorithmic trading strategies, transaction cost analysis,index research and trading and execution analytics, based inHong Kong, and is thus the ideal person to address:• What are the various components of brokers’ execution
service offerings, and when should they be used foreffective trading?
• What is the role of algorithmic trading and how will itdevelop in future?
• How are brokers facilitating best execution practices?
Andrew Freyre Sanders, Head of Algorithmic Trading, JPMORGAN
12.30 Evaluating The Critical Impact OfTechnology On Your Ability To AchieveAnd Prove Best Execution
It is becoming more and more important for the buy sideto prove to their clients that they have achieved bestexecution, but what does this really mean? Is it simplyachieving the best possible price on every trade, or is itutilising tools such as algorithmic trading to free up atrader’s time for the more demanding trades? Olivier isbased in Tokyo and has Asia-Pacific responsibility forElectronic Market Making, Program Trading, and ElectronicTrading and Japan Cash Execution. In this session, he willexplore the nature of best execution and analyse howtechnology can play a vital role in its achievement as headdresses:• What is best execution and how can it be achieved?• Examining the role of algorithmic trading and other
technologies in attaining best execution• How can you effectively measure and monitor execution
performance?
Olivier Thiriet, Managing Director, Asia Pacific AP Head,CREDIT SUISSE
13.00 LUNCH
STREAM A
Chair: Tim Batho, Deputy CEO Asia Pacific, ITG
14.15 Effectively Utilising TheAlternative Pools Of Liquidity AvailableIn The Different Asian Markets
The evolution of crossing networks and alternative poolsof liquidity has traditionally been viewed as only applicable inWestern markets, but crossing engines are increasingly
gaining traction in Asia for efficient and anonymous tradingof large blocks of stock. In this session, Instinet will discusshow your business can benefit from these developments:• What are the opportunities for off-exchange crossing
networks to work in the different Asian markets?• Evaluating progress towards real time, anonymous block
trading in the region• What, if any, is the impact of regulation in the region on
the growth of crossing networks?• How do IOIs work in Asian markets and are they an
effective means of increasing liquidity for the buy side?
Nick McDonald, Global Head of Asian Equities, INSTINET
14.50 Analysing How The Buy Side Trading Desk Can Play A Vital Role In The Broker Selection And Evaluation Process
As there is an increasing focus on ensuring your clientsbenefit from the best possible trading procedures, brokerselection is becoming of greater importance to the buy sidetrader, but how much influence does the dealing desk haveon broker selection and evaluation of their performance?Our panelists for this session have substantial experience oftrading the region’s varied markets and will give you thebenefit of their expertise as they discuss:• How do the buy side select their brokers and how
influential is the trading desk?• What trade analysis tools and techniques provide the
best measure of broker performance?• How can the dealing desk work with portfolio managers to
ensure that appropriate trading takes place?• Using the broker review process to provide effective
management of your broker list
Todd Prado, Head of Trading – Asia, JANUS CAPITAL
Jon Evans, Head of Central Dealing, JPMORGAN ASSET MANAGEMENT(JAPAN)
Matt McKeith, Head of Equity Dealing, FIRST STATE INVESTMENTS
15.20 COFFEE
15.50 Evaluating The Effective Use OfDerivatives To Optimise Equity TradesAnd Enhance Investment Performance
Traditional asset management firms are increasinglylooking to use derivatives as a means of enhancing portfolioperformance. In this session, Emanuel will provide you witha valuable insight into how to overcome the challengesthese products can create and ensure that you developsuccessful strategies for their use.• What are the risks and rewards inherent in the use of
derivative products?• How do you devise an optimal trading strategy for
derivatives?• Examples of products to enhance investment
performance• How to associate derivatives products with equity
execution
Emanuel Breiter, Head of Flow Derivatives - Asia, BNP PARIBAS EQUITIES & DERIVATIVES
16.20 How Has Algorithmic Trading Been Adopted Worldwide And How Can Your Business Take Advantage Of These Experiences?
AXA Rosenberg have been using algorithms extensivelyand in this session Michael will give a frank and openassessment of the pros and cons of algorithmic trading forthe buyside as he shares AXA’s real experience of using thistool worldwide. Michael joined AXA Rosenberg as head ofEuropean Trading in 1990 and is currently Head of GlobalTrading, with equity assets under management of $100bn.Prior to his he had an extensive trading and senior
management career on the sell side. In this thoughtprovoking presentation, Michael will offer you the benefitsof his substantial experience as he addresses the followingquestions:• Are algorithms the way forward for efficient trading for the
buy side, or is it too late already?• Does the buy side have access to the “best” algorithms
or just the sell side’s rejects?• Is there an advantage to be gained by monitoring the
market effects of algorithms rather than using themdirectly?
• Can algorithmic trading be dangerous to your portfolioshealth - what are the real costs of implementation?
• Are algorithms appropriate to all markets and allconditions - where do they shine and where do they fail?
Michael Holman, Head of Global Trading, AXA ROSENBERG INVESTMENTMANAGEMENT
17.00 Gala Cocktail Reception, sponsoredby Reuters (see page 3 for details)
STREAM B14.15 Man Versus Machine: FindingThe Efficient Trading Frontier InElectronic And Algorithmic Trading AndMaximising The Benefits They Bring ToYour Overall Execution Strategy
Algorithmic trading is here to stay, but it is not auniversal panacea, so it is important to work out how bestto use algorithms and how they should be integrated intoyour overall execution strategy alongside program trading,DMA and other traditional and electronic trading methods.In his current role with UBS, Robert is responsible for theAsian Cash Agency Business which includes Sales Trading,Facilitation, Program Trading and Electronic Execution, andis thus perfectly placed to give you an all round view as hediscusses:• What can be achieved with algorithmic trading and when
is it not an appropriate strategy?• How can you best measure, monitor and control
performance of your algorithmic trading?• What is the optimal role of electronic and algorithmic
trading in the overall execution mix?
Robert Flynn, Managing Director, Head of Asian ClientTrading & Execution,UBS
14.50 How To Enhance Your Investment Performance By Developing Winning Procedures ForBroker Evaluation And Review
Of all the buy side, private banks probably have the mostcomplex broker review requirements as there are so manydifferent people and departments involved in defininginvestment strategies, managing portfolios and executingtrades. In this session, Frédéric will step through theprocedures Lombard Odier Darier Hentsch have developedto effectively measure and review their broker performance.Frédéric has had a wealth of trading experience includingas deputy head of department at Exane’s internationalderivatives team in Paris before joining LODH as Head ofDerivatives and Structured Products in 2004. His role hassubsequently expanded and he is now responsible for allthe bank’s trading activities worldwide, heading a team ofmore than 50 traders. In the past year he has presidedover a large shift to more structured products. Hispresentation will address:• What are the factors that had to be considered in
devising an effective review procedure?• What were the major challenges in implementing the
process and how were they overcome?• Evaluating how this can be applied to the Asia/Pacific
markets
Frédéric K. Dawance, Head of Trading, Execution & Markets, LOMBARD ODIER DARIER HENTSCH
15.20 COFFEE15.50 Sessions continue in Stream A17.00 Gala Cocktail Reception, sponsoredby Reuters (see page 3 for details)
08.15 COFFEE AND REGISTRATION08.45 Chairman’s Opening Address
09.00 How Can Buy Side Firms DevelopAnd Adapt Their Trading Strategies ToMaximise The Opportunities GeneratedBy Changes And Evolution In GlobalMarket Structure?
The drive to achieve greater efficiencies and betterproductivity, together with the need to achieve regulatorycompliance in European and US markets, have resulted inthe development of many strategies and new technologieswhich can improve the way you trade. The key is toevaluate how best these tools can be applied in theAsia/Pacific marketplace in order that your business canbenefit. Kingsley is responsible for all aspects of thequantitative process for AllianceBernstein Australian ValueEquities, overseeing stock screening and portfoliooptimisation and risk management and, as a member ofthe firms Risk Investment Policy Group, discusses the riskand exposure climate with CIO Stuart Rae. Prior to this, hespent two years leading Quantitative Research for CSFBstock broking in Sydney. In this session you can benefitfrom Kingsley’s extensive analytical experience on both buyand sell sides as he discusses:• What business opportunities can be generated by
implementing new technologies?• How can you leverage the investment in technology that
has already been made in other regions to the benefit ofyour business in Asia/Pacific?
• What must be adapted in order for these tools to worksuccessfully in Asia/Pacific?
• Effectively managing the change in business practice andculture that this will generate
09.30 What Do The Buy Side Really Think Of Algorithms: Are They Essential ForReducing Transaction Costs AndEnhancing Investment Performance OrAre They Just Hype?
There is no doubt that algorithmic trading has been oneof the most talked about developments in recent times, butwhat are the real experiences the buy side has of using thisnew technology and is it truly driving down costs andenhancing performance as promised? In this session, youcan make up your own mind as our expert panel debate thefollowing:• What strategies have the buy side employed to
implement algorithmic trading and how easy or difficulthas it been?
• Which markets are they trading algorithmically and why?• What are the circumstances in which algorithmic trading
is not effective, and is this likely to change?• Do dealers using algorithmic trading add value to the
business?• What must the brokers do in order to improve their
service offering?Schroder Investment Management are one of the firms
at the forefront of algorithmic trading and Jacqueline hasbeen spearheading their initiatives in Asia.
Max is an executive director of GMO Australia and isresponsible for all Australian quantitative equities portfoliomanagement, which includes overseeing how the firmintegrate algorithms into their trading philosophy.
The panel is completed by Michael Wang who heads upthe trading for JF Asset Management’s Taiwan operation.
Jacqueline Loh, Head of Trading Asia ex Japan, SCHRODER INVESTMENT MANAGEMENT
Max Cappetta, Head of Australian Equities, GMO AUSTRALIA
Michael Wang, Head Trader, JF ASSET MANAGEMENT (TAIWAN)
10.00 Effective Use Of Transaction Cost Analysis: Developing The Best Model To Enhance Your Investment Performance
As firms are under increasing pressure to reduceexecution costs and increase trade performance, effectivemeasurement of your transaction costs is essential, buthow do you select the model which is best suited to yourinvestment process and how do you select peer group datafor comparison? Kent has gained over 14 years Asianinvestment experience on both the buy and sell sides, andso is the ideal person to provide you with key insights into:• What do you expect from your TCA system and what are
you trying to achieve by measuring the costs of trading?• Determining the benchmarks against which you should
be measuring your trades• What peer data should you compare to in Asia and how
do you determine quality of this data?• Using TCA to demonstrate improvements in the entire
investment process
Kent Rossiter, Head of Regional Asia Pacific Trading, ALLIANZ GLOBAL INVESTORS
10.30 COFFEE
11.00 The Real Fabric Of China - A Detailed Insight Into What Really MotivatesAsia’s Premier Booming Economy
Against a backdrop of increasing wealth, internationalinvolvement and personal freedom, power in China remainsclosely guarded by the central government, by regionaladministrations and by the Communist Party. The statefaces a series of major challenges as it strives to create 'aharmonious society' on the back of 10 per cent annualgrowth. External relations are complicated by economicfactors, including the big trade surplus with the UnitedStates, a $900 billion foreign exchange reserve and globalcompetition for oil and other raw materials, not to mentionthe touchy relationship with Japan and the potentialflashpoint of Taiwan. Those doing business in China needto consider such significant factors as well as banking, legaland property systems that are very different from what weare familiar with elsewhere in Asia.
Jonathan Fenby has been following Chinesedevelopments for more than ten years, starting with fiveyears as Editor of the South China Morning Post, HongKong’s leading English-language newspaper. He is currentlywriting The Penguin History of Modern China, following fourother books on China. Jonathan began his career withReuters news agency, where he ended up editing the WorldNews Service. He was then European Correspondent at theEconomist, before becoming Assistant Editor at theIndependent, Deputy Editor of The Guardian and Editor ofthe Observer. From there he moved to Hong Kong in 1995to edit the Post through the handover by Britain to China.Since returning to London, he has continued to write andbroadcast extensively on China, as well as editing threenews websites. Decorated by the British and Frenchgovernments for services to journalism, he is a frequentvisitor to the mainland and East Asia, having travelled tomost parts of China and the region. He also holds aresearch post on China at the School of Oriental Studies inLondon. In this thought-provoking session, Jonathan willdescribe the real fabric of China and discuss how itseconomy and infrastructure are developing and impactingon the Asia/Pacific region
Jonathan Fenby, CBE,Former Editor,SOUTH CHINA MORNING POST
11.45 Presentation By Liquidnet
Details to be provided
12.20 What Is The Future Of The Sales Trader: Is It An Essential Role ForTrading Such Volatile Markets Or Can ItBe Replaced By Today’s Technology?
As trading technologies are growing in sophistication,how crucial is the sales trader to buy side firms? Is itpossible this role could be superceded completely, or willthere always be a need for high touch trading? In thissession, the expert panelists will thrash out both sides ofthis provocative argument as they discuss:• What is the real value-add that can be provided by a
sales trader?• Assessing why the role is crucial in trading such volatile
markets• How do you attain the ideal balance between high touch
and direct execution to optimise trading performance?• How will increased adoption of electronic trading impact
brokers’ bottom line and what will they do to compensate?Todd Prado has headed up Janus Capital’s Asian trading
for the past 6 years and previously worked for FidelityInvestments in Tokyo.
Tim Batho has been with ITG since 2002 and prior to thishe was heavily involved in the management of quantitativefunds and transition management in Europe and Australia.He has experience of managing and trading more than 100different quantitative portfolios ranging from pure index,through enhanced index, to active quantitative funds.
Lee McQueen joined the industry at the age of sixteenwith Baring Securities on their Asian desk. He has over 19years sales trading experience, with 14 years based in Asia.
The panel will be completed by Daniel Latimore, theExecutive Director of IBM’s Institute for Business Value,who have just completed a comprehensive study into thefuture of the trading function.
Todd Prado, Head of Trading – Asia, JANUS CAPITAL
Tim Batho, Deputy CEO Asia Pacific, ITG
Lee McQueen, Executive Director, Asian Sales Trading, UBS
Daniel Latimore, Executive Director, IBM INSTITUTE FOR BUSINESS VALUE
13.00 LUNCH
STREAM A14.15 How Is Direct Market Access Really Being Used Throughout Asia/Pacific And Does ItTruly Add Value To The Buy Side Trader?
While adoption of DMA in Asia/Pacific is increasingrapidly, it still only accounts for a small percentage oftrades, and it is not possible to achieve true DMA in anumber of the region’s markets. This panel will debate whatthe buy side really require from DMA and assess to whatextent this is being provided in reality and evaluate whatthe industry must do to move forwards.• When will DMA be possible in all markets in the region
and what is hampering progress?• How far could, or should, you go with DMA and what is
the role of the broker in this process?• Examining how DMA really adds value rather than simply
transfers risk back to the buy side• Assessing how brokers will evolve their offerings to
facilitate DMA as more clients choose this option• Is it possible that any of the smaller markets in the region
may one day be traded entirely electronically?As Head of AES – Asia Pacific, Brook looks after all the
sales of electronic trading products including algorithmictrading and program trading. He has also worked for
THURSDAY 9TH NOVEMBER: MAIN CONFERENCE DAY TWO
SPECIAL GUEST
PRESENTATION
PANELDISCUSSION
BUY SIDEDEBATE
DMA FOCUS
BUY SIDETCA CASE
STUDY
“An enormous amount of new information on our industry
and the way each strategy is being implemented”
Yasuhiro Izushima, Head Trader ex Japan,
DAIWA SECURITIES SMBC JAPAN
WBR_0381 TTAsia_New 7/13/06 11:19 AM Page 9
9
E*TRADE Securities and Javelin Technologies in Hong Kongand ran US sales for Gordon, Haskett and Co., a boutiquebrokerage in New York City and San Diego.
The panel will be completed by Greg Yanco of theAustralian Stock Exchange, who has been at the forefrontof implementing their electronic trading facilities and NeilKatkov of Celent who has performed extensive researchinto the adoption of DMA throughout the AsiaPac region.
Greg Yanco, Manager Institutional and Wholesale Markets, AUSTRALIAN STOCK EXCHANGE
Neil Katkov, Group Head Asia Research, CELENT
14.50 How Does The Buy Side Trader Really Define And Measure Execution Quality And WhatAre The Benefits To Your Business?
The buy side trader is under increasing pressure tominimise costs whilst achieving the best price for his/hertrades, and then to demonstrate that best execution hasreally been achieved. Are the wealth of new technologiesthat are available facilitating this, or is there more to bedone? In this discussion our expert panelists will debatethese issues as they address the following key points:• What are brokers offering their clients to demonstrate
that best execution has been achieved with their variousexecution methods?
• What are the most effective techniques for measuringexecution quality, and do they vary in different marketsthroughout the region?
• How are the buy side using electronic trading strategiesand technologies to enhance their executionperformance?
• Are fund managers and clients really concerned aboutexecution quality?Kent has over 14 years Asian investment experience on
both the buy and sell sidesRichard has spent the last 8 years in equity dealing,
mainly trading overseas markets especially Asia and Japan,for Scottish Widows and the Abu Dhabi InvestmentAuthority, where he headed up the Asian dealing desk,before taking up his current role in April 2006.
Kent Rossiter, Head of Regional Asia Pacific Trading, ALLIANZ GLOBAL INVESTORS
Richard Coulstock, Director, Head of Equity Dealing,PRUDENTIAL ASSET MANAGEMENT(SINGAPORE)
15.25 How Have The Skills Of Trading Professionals Evolved AndWhat Can Financial Institutions Do ToBoth Attract And Retain Them?
As technology is rapidly evolving, so are the skill sets ofthe trading community, and the industry is struggling tobalance the need to drive down commissions withattracting and rewarding talented professionals to provideoptimal client service. In this session, Gary Lai from RobertWalters, one of the region’s major recruitmentconsultancies will discuss the key strategies that will helpyou hire new staff and retaining existing talent. Prior to hisrecruitment career, where he and his team look after theareas of Corporate Finance, Sales & Trading, WealthManagement, Fund Management, Corporate andInstitutional Banking, Gary Lai worked at the SingaporeExchange (SGX) in the Strategy and Business DevelopmentGroup where he handled projects relating to fixed incomeand other interest rate products and oversaw the successfullaunch of exchange traded futures and options contracts,and before this he was at Citibank. In this session, he willaddress the following key questions:• How are the trader’s skill sets evolving in the wake of
developing technology and changing market structure?• How is dealer remuneration changing on both buy side
and sell side and how can you attract new talent in thewake of ever-increasing competition for a small pool ofexperienced professionals?
• What are the best means of recruiting, training,motivating and retaining your staff?
Gary Lai Wai Keat,Manager, Front Office Banking & Finance,ROBERT WALTERS
STREAM B
14.15 A Critical Assessment Of The Different Pre- And Post-Trade AnalyticsTools Available: How Do You Select TheOption Most Appropriate To YourInvestment Process?
As trading strategies become evermore complex, havetrade analytics tools evolved sufficiently to cope with this?What benchmarks should you be using to measureperformance and why? How do you really interpret theresults of these analyses? In this session, the panelists willbe debating these and other issues as they discuss:• What scenarios are best suited to the various approaches
to measuring transaction costs?• How do you determine which technique is most suited to
your needs?• Is it possible to get a true and meaningful evaluation from
any of the trade analysis tools currently available?
Edna Kong, Head Trader – Asia, AXA ROSENBERG INVESTMENTMANAGEMENT
Christer Westberg, Head of Asian Dealing, DNB NOR ASSET MANAGEMENT
14.50 Applying Specialist Project Management And Portfolio Trading Expertise To Minimise The Risks And Costs Inherent In Making Major Changes To Investment Portfolios
Transitions can arise from any major change toinvestment portfolios whether it is funding a new mandate,liquidating a legacy portfolio or transferring assets betweenportfolios. There is compelling evidence to suggest thatpoorly managed transitions can expose investors tosignificant costs and risks; some analysts suggest thatavoidable transaction and opportunity costs can be as highas 3%of the total value being transferred. Professionaltransition managers can be highly effective at controllingthese costs and risks by applying specialist projectmanagement and portfolio trading expertise. Thispresentation provides an investment consultant'sperspective on the transition management valueproposition and provides practical insights into how toselect a transition manager and measure the performanceof the transition. Tom has 9 years experience in investmentconsulting and has spent the last 6 years with Mercerassisting clients throughout the Asia Pacific with a range ofinvestment operations projects including asset transitions,custody reviews, back and middle office reviews andoperational risk assessments. In this session, Tom willaddress:• Examining the sources of investment change• What are the potential costs and risks of transitions?• Evaluating the role of the transition manager• How do you best select a transition manager?• Effectively measuring the performance of the transition
Tom Clapham, Senior Consultant, MERCER INVESTMENT CONSULTING
15.25 Sessions continue in Stream A
15.55 CLOSE OF CONFERENCE
PANELDISCUSSION
PANELDISCUSSION
SKILLS ANDTALENT FOCUS
TRANSITIONMANAGEMENT
“It’s difficult NOTto come to
TradeTech: it’s theideal environmentfor the buy side
and sell side to gettogether”Steve Wood,
Global Head of Equity Dealing,SCHRODER INVESTMENT
MANAGEMENTTradeTech Asia Provides The Perfect Opportunity To Network With Your Industry Peers
September 25-27, 2006,Renaissance Parc 55Hotel San Francisco, CAFrom the producers of
TradeTech comes TradeTech West – your chance to learn from theequity market’s brightest minds about TCA strategies thatconsistently bring value to your trading desk, best executiontactics, the future of unbundling and market structure changesthat are sure to have a significant impact on your profitability inthe next six months. Visit www.tradetechusa.com
17-19 October 2006, Thistle Tower Hotel, LondonTradeTech Derivatives is Europe’sleading derivatives trading andtechnology summit which brings
together the entire spectrum of the trading community to explorethe potential that derivatives offer in transforming investmentactivities and uncover the essential technology solutions to ensurethe most effective infrastructure. Visit www.tradetechderivatives.com
November 2006, LondonThe TradeTech Awards are beingheld to identify, honour andpromote this year’s bestperformance and contributions
on the Buy and Sell Side in Europe, as well as to provide ashowcase for successful innovations in this market's technologysolutions. The winners will receive their well-deserved recognitionand accolade when the results are announced in November at theTradeTech Awards ceremony. The Awards are open to all financialservices professionals active in Europe in Equities, Fixed Incomeand Derivatives. Visit www.wbresearch.com/tradetechawards
TradeTech Online is thenew online resource for
the TradeTech community. This service is being launched to provideits members with key information and communications functions.Visit www.tradetechonline.com
November 29th to 30th2006, Park Hyatt,Toronto, ONTradeTech Canada is a 2
day forum offering your best chance to learn from the Canadianequity market’s brightest minds, so you can return to office withtrading strategies that bring value to your desk. Visitwww.tradetechcanada.com
March 2007TradeTech Japan 2007 is theinaugural Japanese equitytrading summit and exhibitionbringing together the most
prominent figures from Japan’s equity trading community, includingover 100 buy side traders. With a predominant focus on howtechnology can add significant value to clients' portfolios,TradeTech Japan is set to be the largest gathering of Japan’s equitytrading community across the entire trading spectrum. Visit www.wbresearch.com/tradetechjapan
March 5th to 8th 2007,Metropolitan Pavilion,New York, NYVisit www.tradetechusa.com
24th to 27th April 2007,Le Palais des Congrès,ParisTradeTech is Europe’s leading
industry forum dedicated to high-level discussion on the majorchallenges facing the equity trading market, with a particular focuson the rapid development of trading technology and constantlyevolving market structure. Visit www.tradetechequity.com
RELATED EVENTS
Booking Options Bookings received Bookings received and paid for by and paid for after
6th October 6th October
STANDARD PRICING
A 2 Day Conference + Focus Day + TCA Workshop S$5,499 S$5,699
B 2 Day Conference + Focus Day S$4,699 S$4,899
C 2 Day Conference + TCA Workshop S$3,999 S$4,199
D 2 Day Conference Only S$3,199 S$3,399
Singapore companies will be charged 5% GST
BUY SIDE DELEGATES CAN ATTEND THE ENTIRE EVENT FREE OF CHARGEConditions apply – see booking form.
“TradeTech provides excellentsubject matter and a great
opportunity to discuss the latestindustry trends”
Richard Nelson,
Vice President & Head of Dealing,
ALLIANCE BERNSTEIN AUSTRALIA
“TradeTech Asia has given me a much better picture of the electronic trading
technologies currently available in the Asian market place”
Alan Ngu, Project Manager – Information Technology,
PRUDENTIAL ASSET MANAGEMENT SINGAPORE
CD-ROM Compliments Of
We are delighted to announce that once againCredit Suisse are sponsoring the TradeTech Asia2006 Interactive CD ROM. All conferenceattendees will receive a complimentary copy ofthe CD-ROM, featuring all of the audiopresentations synchronised with video footage ofthe speakers’ and their actual PowerPoint slides.The CD-ROM is a highly valuable reference andtraining source, ensuring you don’t lose any of thedetail, facts, and figures from the presentations.It also means that even though you can only bephysically present in one of the parallelconference streams at any one time, you won’tactually miss anything, as you will receive all theother sessions on your CD.
ALL THE CONFERENCEPRESENTATIONS CAPTURED
ON A VIRTUAL CD ROM,PROVIDING YOU WITH A
LASTING RECORD OF THECONFERENCE AND AN
ESSENTIAL TRAINING TOOL
CONFERENCE PRICING
WBR_0381 TTAsia_New 7/13/06 11:19 AM Page 11
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To enquire about sponsoring TradeTech Asia, please contact James Barber on +44 (0)20 7368 9400 or email [email protected]
The BLOOMBERG PROFESSIONAL® service is the interactive data,news and financial information network that is Bloomberg’s corebusiness. The BLOOMBERG PROFESSIONAL service provides real-
time data, news, analytics, multimedia reports, messaging and trading functions in a single integrateddesktop solution that is securely accessible to Bloomberg users on any PC or workstation as well ashandheld devices. Corporations, media outlets, professionals, financial market participants, institutionalinvestors and individuals around the world utilize the BLOOMBERG PROFESSIONAL to help them makeinformed business decisions and execute transactions.
Bloomberg’s media services include global BLOOMBERG NEWS® services with more than 2,000professionals in 125 bureaus worldwide; BLOOMBERG TELEVISION ®, the 24-hour business and financialnetwork produced and distributed worldwide on ten separate channels in seven languages andBLOOMBERG RADIOSM which are syndicated to more than 800 affiliates around the globe.
Across the globe, Bloomberg customers are fully supported by Bloomberg’s around-the-clock livecustomer support and unparalleled customer service.
LEAD SPONSOR
Reuters (www.reuters.com), the global information company, provides indispensable informationtailored for professionals in the financial services, media and corporate markets. Its trusted informationdrives decision making across the globe based on a reputation for speed, accuracy and independence.Reuters has 15,300 staff in 89 countries, including staff from the acquisition of Telerate in June 2005.It also includes 2,300 editorial staff in 189 bureaux serving 128 countries, making Reuters the world’slargest international multimedia news agency. In 2005, Reuters revenues were £2.4 billion.
COCKTAIL SPONSOR
SPONSORS & EXHIBITORS INCLUDE:
Eurekahedge is the world’s largestindependent alternative research company,dedicated to the collation of alternativeinvestment data, and the development and
continuous improvement of our research data banks with 13,500funds and have offices in New York, London, Singapore and HongKong. Eurekahedge also provides consultancy and marketingservices, a hedge fund hotel in Singapore and has recently launchedthree investible hedge fund indices with our partner, Maxam Capital.For more information, please contact Alexander Mearns, ManagingDirector at [email protected] or +65 6212 0924.US toll free: 1866 578 4852, UK toll free: 0800 404 8106
THE TRADE is a quarterly publicationfocused on institutional globalsecurities trading. With worldwidecirculation of 6,000+, THE TRADE is
sent to named buy-side trader and operational heads of buy-sideinstitutions and their sell-side counterparts. THE TRADE containsproprietary data on transaction measurement, including brokerrankings. THE TRADE reports on key development areas, fromcrossing and DMA to algorithmic trading and innovation in OMS. Formore information contact +44 20 7075 6115 – [email protected] - or visit www.thetrade.ltd.uk
Global MoneyManagement is therecognised institutional
investment industry news source. For 15 years this premiere printand electronic publication has been breaking news on non-USinstitutional money manager mandate activity. With reporters inLondon and Hong Kong, GMM covers all investment manager andconsultant search-and-hire activity with breaking stories on new,completed and - most importantly - potential searches before theyappear anywhere else. To request a free trial go towww.globalmoneymanagement.com/freetrial
Derivatives Week is theonly publicationdedicated to breaking
news on the over-the-counter derivatives market worldwide. Everyweek, its reporters in New York, London and Hong Kong dig upmust-read intelligence on swaps and options on credit, equities,interest rates, currencies and commodities before it appearsanywhere else. Coverage includes development of new derivativeinstruments, regulatory changes, firm reorganizations, market trendsand risk management. To request a free trial go towww.derivativesweek.com/freetrial
Euromoney Asset Management &Trading Handbook 2006/07The Euromoney Asset Management& Trading Handbook focuses on the
many new institutional trading developments that have hit the sceneover the past few months, PLUS a diverse range of assetmanagement issues. Featuring the hot topics that have found aplace on everyone's agenda: asset allocation and asset management,regulation, performance management, algorithmic trading,implementation management, pension funds, research and analytics,and alternative investments. The Handbook also contains a directoryof service providers and intermediaries, bringing both the buy and sellsides together to create a complete perspective of today's everchanging world of assets.For further information, please contact the Editor, Claire Evans:[email protected] visit www.euromoney-yearbooks.com/handbooks
Asiamoney is a leading monthlycapital markets magazine for the Asiaregion. Since launch in 1989,
Asiamoney enjoys the reputation from investors, senior corporate andfinance decision makers for its incisive and independent reporting. In each edition Asiamoney investigates and reports on the deals,institutions, individuals and investment opportunities that matter tothe financial markets in Asia. It also produces the well-recognizedindustry benchmark polls for Asia’s Best Managed Companies, BestDomestic Banks, Best Debt Houses, Best Equity Brokers, Deals ofthe Year, Best FX Providers and Best Private Banks in Asia.
MEDIA PARTNERSUBS’s investment banking and securitiesbusiness has a strong institutional andcorporate client franchise. Consistently placedin the top tiers of major industry rankings, it isa leading player in the global primary and
secondary markets for equity, equity linked and equity derivative products. Ininvestment banking, it provides first-class advice and execution capabilities toits corporate client base worldwide. In fixed income, it is a first-rate global player.In foreign exchange, it places first in many key industry rankings. All itsbusinesses are sharply client focused, providing innovative products, top-qualityresearch and comprehensive access to the world’s capital markets. With morethan 82 stock exchange memberships in 31 countries UBS offers liquidity,efficient completion, and, above all, discretion in executing large orders in allmajor world markets.
Instinet, The Institutional Broker, wasfounded for a single purpose – to helpclients improve their investment
performance by lowering their transaction costs. Instinet's business modelis based on this premise and at the heart of its value proposition lies onecore principal: we trade only on behalf of our customers. For over thirty years,our institutional customers have counted on us to provide unconflicted,transparent and anonymous agency brokerage services. These agency-onlyprinciples are embedded in our business model, our technology and ourculture. Through Instinet's electronic trading platforms clients have unbiased,direct and efficient access to liquidity across all available marketplaces.Instinet clients have access to over 40 equity markets worldwide, includingNASDAQ, the New York and London Stock Exchanges as well as stockexchanges in Frankfurt, Hong Kong, Paris, Sydney, Tokyo, Toronto andZurich.
JPMorgan Chase & Co. is a leading globalfinancial services firm with assets of $1.1trillion and operations in more than 50
countries. The firm is a leader in investment banking, financial services forconsumers and businesses, financial transaction processing, asset andwealth management, and private equity. A component of the Dow JonesIndustrial Average, JPMorgan Chase has its corporate headquarters in NewYork and its U.S. retail financial services and commercial bankingheadquarters in Chicago. Under the JPMorgan, Chase and Bank One brands,the firm serves millions of consumers in the United States and many of theworld's most prominent corporate, institutional and government clients.
ITG is a specialist agency-only equities broker andtechnology firm dedicated to improving trading and costefficiency. Through combining technological expertise
with industry knowledge, ITG offers institutional investors across the world acomplete set of innovative tools to minimise transaction costs, manage risk,access liquidity and optimise portfolio construction. ITG’s full suite ofsolutions span the trading continuum. A leader in electronic trading, ITGhas a unique approach that integrates portfolio optimisation, pre-tradeanalysis, trade execution and post-trade measurement and evaluation.Established in 1987, ITG is headquartered in New York and has offices inNorth America and Europe. In the Asia Pacific region, ITG has a presencein Sydney, Melbourne, Hong Kong and Tokyo.
BNP Paribas Global Execution Servicesfacilitates the activities of all kind of clientsin the field of equity execution. Ourexperienced teams deliver highlysophisticated and flexible solutions from DMA
across global markets (Europe, US and Asia-Japan) to program trading,advanced Sales Trading, Algorithms trading and commission recapturebased on a state-of-the-art execution platform with a proven track-record. BNP Paribas Global Execution Services is part of BNP Paribas'Equities & Derivatives division, a market leader in trading, and marketingof cash equity, structured products, flow and fund derivatives for financialinstitutions, corporates, and retail clients. BNP Paribas Group is one ofthe largest financial services institution, with a presence in more than85 countries and close to 100,000 employees worldwide, excellent creditratings and a strong capital base.
Credit Suisse, a leading global financialservices company active in over 50countries with more than 60,000
employees, provides investors with access to its full suite of industryleading equity execution products including risk capital, agency, programs,direct market access and algorithms. Credit Suisse's suite of executionproducts is available in all regions and is fully integrated with CreditSuisse's Prime Banking and Swap products. In its investment bankingbusiness, Credit Suisse offers securities products and financial advisoryservices to corporations, governments, institutional investors andindividual clients. Operating in 69 locations across 33 countries, CreditSuisse specializes in innovative solutions using expertise in a full spectrumof products: debt and equity underwriting, sales and trading, alternativecapital, mergers and acquisitions, investment research, correspondentand prime brokerage services. Credit Suisse's Advanced ExecutionServices(tm) (AES(tm)) was the first algorithmic trading product to beoffered to buy side clients and remains the leader in this field. CreditSuisse provides clients with a full analysis of its execution quality againsta range of benchmarks using ExPRT - its proprietary ExecutionPerformance Service. www.credit-suisse.com
Lehman Brothers is at theforefront of Direct Access
Trading, with over $850bn executed in global equities during the first halfof 2005. Lehman's established connectivity technology platform offersa range of advanced products and services, delivering direct access tosophisticated algorithms, capital provision, electronic exchanges andnatural liquidity. Combining real time web based analytics with theadvanced trading products enables a strategic approach to order flowmanagement. Lehman is also a leader in portfolio trading and advisory,having executed over $450bn of global portfolio trades in 2005. Lehmanprovides a full range of execution and analysis services ranging fromtransaction cost tools and portfolio construction services to globalexecution and innovative trading strategies. In 2005, Lehman wasranked first by Greenwich Associates in the areas of pricingcompetitiveness, quality of execution and transaction cost tools andrelated research.
PRINCIPAL SPONSORS
Bobsguide.com is the world’spremier online directory for allaspects of financial IT. Our
expansive directory of indices includes assetmanagement, corporate treasury, risk management andtrading. We currently list around 2000 companies fromover 100 countries who promote more than 5000products and services, including hardware and softwareto niche consultancy. To receive our daily newsletter or toadd your company and products to our guide, please visitwww.bobsguide.com or email us [email protected].
ON LINEMEDIA PARTNER
The InvestmentManagementAssociation ofSingapore (IMAS)was established on
22nd September 1997. IMAS currently has over 100members. Its membership roll includes all the majorinvestment management firms in Singapore.IMAS’ objective is to contribute towards thedevelopment and growth of the investmentmanagement industry in Singapore. It aims to do thisby fostering high standards of professionalism andpromoting exemplary practice among its members,providing a forum for its members to discuss industryrelated issues, servicing as a collective voice whererepresentation is needed on behalf of the industry,facilitating training for its members, and contributingtowards investor education. For more information about the InvestmentManagement Association of Singapore, please visitour website at www.imas.org.sg
OFFICIALASSOCIATION
WBR_0381 TTAsia06v17 7/14/06 9:54 AM Page 12
7th – 9th November, Swissôtel Stamford, SingaporePlease return your registration to: TradeTech Asia 2006, IQPC Worldwide Pte Ltd,
61 Robinson Road, #14-01, Robinson Centre, Singapore 068893
2. DELEGATE DETAILS
Please use this form as our request for payment. All posted registrations must be accompanied bya cheque, bank transfer confirmation or credit card details. FULL PAYMENT must be received prior to the conference.
Please complete as applicable
nnnn I enclose a cheque made payable to IQPC Worldwide Pte Ltd
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nnnn I will be sending a Bank Transfer:Account name: IQPC Worldwide Pte Ltd Bank number: 7339 Account number: 501-426928-001 Swift Code: OCBCSGSG
Email us at [email protected] to make your provisional registration then send us your
completed form along with your paymentdetails.
Please photocopy this form for multiple registrationsYes! I will be attending TradeTech Asia 2006(Please print when completing information)
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Incorrect Mailing: If you are receiving duplicate mailings or you would like us to change any details or remove your name from our database, please fax this form to the attention of our DatabaseDepartment with your amended details on +65 6224 2515. Amendments can take some time, so please accept our apologies for any inconvenience caused.
YOUR PERSONAL DETAILSYour information will be held and used by Worldwide Business Research Limited (“WBR”) to register you for this conferenceand/or we may contact you by email, phone or post with information about other conference, products and services whichwe or our associated companies provide. We may also from time to time share your personal information with other partiesin the European Economic Area who may wish to contact you by phone or post in relation to special offer, products andservices related to your role within your company. If you would prefer not to receive such information from us or such thirdparties, please fax us, including a copy of this page of the brochure, on UK freephone fax number 0800 6525943 or +44 (0)20 7368 9401.o From time to time your name may be used in third party mailings. Please tick if you do not wish this to happen.
CANCELLATIONS & SUBSTITUTIONS: You may substitute delegates at any time. IQPC does not provide refunds forcancellations. For cancellations received in writing more than seven (7) days prior to the conference you will receive a100% credit to be used at another IQPC conference for up to one year from the date of issuance. For cancellationsreceived less than seven (7) days prior to the event no credits will be issued. In the event that IQPC cancels an event,delegate payments at the date of cancellation will be credited to a future IQPC event. This credit will be available for up toone year from the date of issuance. In the event that IQPC postpones an event, delegate payments at the postponementdate will be credited towards the rescheduled date. If the delegate is unable to attend the rescheduled event, thedelegate will receive a 100% credit representing payments made towards a future IQPC event. This credit will be availablefor up to one year from the date of issuance. No refunds will be available for cancellations or postponements. IQPC is notresponsible for any loss or damage as a result of a substitution, alteration, cancellation, or postponement of an event.IQPC shall assume no liability whatsoever if this event is altered, rescheduled, postponed or cancelled due to a fortuitousevent, unforeseen occurrence or any other event that renders performance of this conference inadvisable, illegal,impracticable or impossible. For purposes of this clause, a fortuitous event shall include, but shall not be limited to: anAct of God; governmental restrictions and/or regulations; war or apparent act of war; terrorism or apparent act ofterrorism; disaster; civil disorder, disturbance, and/or riots; curtailment, suspension, and/or restriction on transportationfacilities/means of transportation; or any other emergency.PROGRAM CHANGES - Please note that speakers and topics were confirmed at the time of publishing; however,circumstances beyond the control of the organizers may necessitate substitutions, alterations or cancellations of thespeakers and/or topics. As such, IQPC reserves the right to alter or modify the advertised speakers and/or topics ifnecessary. Any substitutions or alterations will be updated on our web page as soon as possible.
1. YOUR CHOICE OF REGISTRATION PACKAGE
STANDARD PRICES *For pricing information see page 10Please select a package
nnnn OPTION A: 2 Day Conference + Focus Day + TCA Workshop
nnnn OPTION B: 2 Day Conference + Focus Day
nnnn OPTION C: 2 Day Conference + TCA Workshop
nnnn OPTION D: 2 Day Conference Only
BUY SIDE Buy Side delegates can attend the entire event free of charge, but please specify package
nnnn OPTION A: 2 Day Conference + Focus Day + TCA Workshop
nnnn OPTION B: 2 Day Conference + Focus Day
nnnn OPTION C: 2 Day Conference + TCA Workshop
nnnn OPTION D: 2 Day Conference OnlyI confirm that I will attend TRADETECH ASIA 2006 completely free of charge. In case I or a colleaguefail to attend the conference, IQPC Singapore will invoice my company for S$500 + GST (fivehundred Singapore dollars) and my company will pay WBR this amount. I agree to this condition.
Signature Date
To register for TradeTech Asia 2006 please complete the following form:
