This document provides an agenda for the Algorithmic Trading Strategies Summit taking place August 25-27, 2010 in New York City. The summit will feature over 25 speakers and panel discussions on topics related to algorithmic trading strategies across different asset classes. Speakers include experts from banks, hedge funds, exchanges, and regulatory agencies. Panel topics include navigating liquidity, the future of algorithmic trading, quantitative portfolio construction, building versus buying a trading infrastructure, risk management for algorithms, and the impact of new regulations. The event is aimed at providing insights for buyside firms, banks, and technology providers on strategies, technology, and the evolving regulatory environment related to algorithmic trading.

1. presents a training conference:
ProgramAgenda
www.AlgoTradingSummit.com
high performance trading strategies
across asset classes
August 25 - 27 2010 | New York City
Keynote Speakers
Featuring 25+ Algorithmic Thought-Leaders, including:
“The Future of Global
Market Structure”
Dr Robert Barnes
Managing Director, Equities
UBS & CEO UBS MTF
“A Regulatory Perspective on 21st
Century Equity Trading”
Dr Chester Spatt, Pamela R. and Kenneth B. Dunn
Professor of Finance
Carnegie Mellon University; Former Chief
Economist, SEC
Kevin Mahn
Chief Investment Officer
Hennion &Walsh Asset
Management
Thomas Kirchner
President &
Portfolio Manager
Pennsylvania Avenue
Funds
Ellen Lee
VP, Policy &
Regulatory Risk
TD Asset Management
Jeff Parent
President
Quadrexx Asset
Management
Jonathan Kanterman
Managing Director
Stillwater Capital
Alison Graham
Chief Investment Officer
Voltan Capital
Management
Marc Groz
Managing Director,
Head of Corporate
Development
SPM LLC
William Kenney
CEO
Knox Capital
Management
Stephen Malloy
CEO
Tunnelbrook Capital

2. Dear Colleague,
On May 6th of this year, in what is widely regarded as a freak algorithmic trading
accident, the Dow lost over a thousand points – the biggest percentage drop since the
Black Monday stock market crash of 1987. Although the Dow recovered quickly, the
incident has refocused attention on the role that algorithmic trading plays in the stability
of financial markets.
The incident comes amid a resurgence in algorithmic trading volumes but an increasingly
uncertain regulatory environment. At the time of writing (May 14th), the embryonic
financial reform bill contained at least 60 specific regulatory changes, which will
inevitably have far reaching consequences for the structure of the capital markets and the
algorithmic trading landscape. Dark liquidity, naked access, flash orders, order
cancellation fees – almost every feature of the 21st century trading landscape is being re-
imagined within the halls of power.
How should buyside traders prepare for this shift? How will algorithms need to be re-
programmed in order to make sense of the new environment? What new technological
developments are on the horizon that will further disrupt the electronic trading landscape?
Taking place in New York City from August 25th – 27th, the Algorithmic Trading
Strategies Summit addresses this need for detailed, impartial insights into the future of
the algorithmic trading space. Unlike other conferences, which tend to be asset-specific,
the summit looks at algorithmic trading strategies across the asset class spectrum,
providing comprehensive insights for hedge funds, asset management firms, and the
proprietary trading desks of investment banks.
Take a few minutes to read through the agenda and then make the decision to attend
this unmissable conference.
I look forward to meeting you in sunny New York this August!
Toby Donovan
Director, Finance Conferences
IQPC
25+ Industry Leading Thought-
Leaders, including:
Dr Chester Spatt, Pamela R. and Kenneth B.
Dunn Professor of Finance, Carnegie
Mellon University; Former Chief
Economist, SEC
Dr Robert Barnes, Managing Director,
Equities, UBS & CEO UBS MTF
Kevin Mahn, Chief Investment Officer,
Hennion & Walsh Asset Management
Thomas Kirchner, President & Portfolio
Manager, Pennsylvania Avenue Funds
Michael Crockett, Former Senior Trader,
Brazos Capital Management
Garrett Nenner, CEO, Business Services,
TTC LLC
Elliot Noma, Managing Director, Garrett
Asset Management
Joseph Engelhard, Senior Vice President,
Capital Alpha Partners
Mohamed Ayach, Information Technology
Officer, Orbimed Advisors
Ellen Lee, VP, Policy & Regulatory Risk,
TD Asset Management
Jeff Parent, President, Quadrexx Asset
Management
Vikas Parikh, IT Director - Trading Operations
& VMO, GE Asset Management
Alison Graham, Chief Investment Officer,
Voltan Capital Management
Marc Groz, Managing Director, Head of
Corporate Development, SPM LLC
William Kenney, CEO, Knox Capital
Management
Adam Honore, Senior Analyst, Aite Group
Stephen Malloy, CEO, Tunnelbrook Capital
Jonathan Kanterman, Managing Director,
Stillwater Capital
high performance trading strategies
across asset classes
The blame, then, for the May 6 stock plunge rests neither on errant traders nor on
tensions over Greece, but on the system itself, SF analyst Chris Brendler wrote in a May 7
note. Regulators must now play catch-up, he says. “The evolution of trading technology
and market structure over the last decade has been far too rapid for regulation to keep
pace. – Business Week, May 10th 2010
www.AlgoTradingSummit.com 2
Media Partners

3. 2:00 PM –
5:00 PM
Reducing Latency Within Your Trading Architecture: Configuring Enterprise-Wide Resources For
Lightning-Fast Response
As technology transforms more and more dimensions of the
trading landscape, the ability to trade faster than your competitors
– and exploit short-lived opportunities that may exist only for a
few fractions of a second – becomes more important than ever
before. Reducing latency in complex trading systems is therefore
emerging as the number one priority for technologists at leading
buyside firms and investment banks. In this in-depth workshop,
Adam Honore – Senior Analyst at AITE Group – will lead you on a
deep-dive journey into the major causes of latency within your
own trading system, helping you improve performance without
dramatic spending increases.
Specific Focus Areas:
• Approaching complex legacy situations with a view to reducing
latency: How can you determine where latency is located?
• Getting to the bottom of the latency puzzle without disrupting
day-to-day systems and processes
• Examining the very latest strategies for reducing latency right
across your trading architecture, including:
• Latency reduction in compute- and data-grids
• Latency reduction in service-oriented architecture (SOA)
• Latency reduction in virtualised application environments
• Understanding the most effective investment areas for reducing
latency right across the enterprise
• Latency trouble-shooting surgery: Getting to grips with your
most pressing issues
Adam Honore, Senior Analyst, Aite Group
9:00 AM –
12:00 PM
Structuring Your HFT Spending Priorities: Intelligent Solutions For Determining What To Buy, And
When To Buy It
For fund managers new to the HFT business, working out what to
do first in developing a high performance trading capability can
seem like a daunting task. Ben VanVliet’s interactive workshop will
deliver practical insights on the topic, walking prospective HFT
traders through the decisions they’ll need to make in terms of
connectivity, hardware, speciality trading systems and destination
execution venues. Specific focus areas include:
•
Cutting through the hype: Achieving clarity on the functional
requirements of your HFT infrastructure
•
Understanding when to buy and when to build, and when each
is more expensive
•
Scalability on a shoe-string: Economical options for ensuring
your systems stand the test of time
•
Making the most of the technology you already have
Ben VanVliet, Author, “Building Automated Trading
Systems” & “Quality Money Management”
Ben Van Vliet is a Lecturer at the Illinois Institute of Technology's
Stuart School of Business (IIT), where he also serves as the
Associate Director of the M.S. Finance program. At IIT he teaches
courses in quantitative finance, C++ and .NET programming, and
automated trading system design and development. He serves also
as series editor of the Financial Markets Technology series for
Elsevier/Academic Press. Mr. Van Vliet consults extensively in the
financial markets industry, primarily on topics related to the
mathematics, technology and management of trading systems. Mr.
Van Vliet is the author of three books on trading/investment:?
Quality Money Management with Andrew Kumiega, Modeling
Financial Markets with Robert Hendry, Building Automated Trading
Systems. Additionally, he has published several articles in the areas
of finance and technology, and presented at several academic and
professional conferences.
Pre-Conference Workshop
A
B
August 25th 2010
Topics Under Discussion
Include:
• Changes to global market structure and the
implications for algorithmic trading
• Electronic trading and financial reform
• The future of machine-readable news data
• Quantitative approaches to portfolio
construction
• Algorithmic trading strategies for FX,
commodities, and options
• The future of the latency battle
Industry-Leading Keynote Speakers
“A Regulatory Perspective on 21st Century Equity Trading”
Dr Chester Spatt, Pamela R. and Kenneth B. Dunn Professor of Finance, Carnegie Mellon
University; Former Chief Economist, SEC
“The Future of Global Market Structure”
Dr Robert Barnes, Managing Director, Equities, UBS & CEO UBS MTF
Summit Attendee Breakdown
■ 45% Buyside
■ 25% Sellside
■ 15% Exchange / MTF
■ 15% Technology Provider
August 25 - 27 2010
New York City
www.AlgoTradingSummit.com 3

4. 7.30 Coffee & Registration
8.30 Chairman’s Opening Remarks
8.45 Keynote Address: The Future of Global Market
Structure: Equities, HFT & Algorithmic Trading
•
The macro view: insights and opportunities
•
Liquidity, fragmentation and dark pools
•
CCP 'User choice', PnL benefits
Dr Robert Barnes, Managing Director, Equities, UBS
& CEO UBS MTF
9.30 Panel: Navigating the Fragmented Liquidity
Environment: Using Next Generation Smart
Order Routing and “Meta-Algorithms” to Bring
Sense to a Complex Market Structure
•
Examining the dual complexity of today’s execution environment:
multiplicity of liquidity sources and multiplicity of broker algorithms
•
Leveraging unbiased performance data to rank broker
algorithms according to security and order type
•
Combining allocations to broker algorithms with allocations to
buyside crossing networks
•
Allocating orders in real-time according to broker algorithm
ranking, in order to maximize the chances of best execution
Dr Robert Barnes, Managing Director, Equities, UBS
& CEO UBS MTF
Michael Crockett, Former Senior Trader, Brazos Capital
Management
Stephen Malloy, CEO, Tunnelbrook Capital
10.15 Networking Break
11.00 Panel: The Next Generation of Algorithmic
Trading: Forecasting the Impact of Technology
on the Future of the Buyside Trading Desk
•
Increasing the sophistication of limit-order models
• Driving symbol-specific trading decisions through historical and
real-time analytics
•
Enhancing visibility and diagnostics of parent orders and child
orders
•
Using advanced modeling and order placement logic to
identify when and where to trade
William Kenney, CEO, Knox Capital Management
Stephen Malloy, CEO, Tunnelbrook Capital
Jonathan Kanterman, Managing Director, Stillwater Capital
11.45 Guest Keynote Address: “Programmable
Financial Instruments”
•
From programs that trade financial instrument into programmed
financial instruments: the new paradigm in algorithmic trading
•
Building risk controls into financial instruments
•
Tamper resistant financial instruments: Embedding security
controls to create instruments that can’t be stolen
Marc Groz, Managing Director, Head of Corporate
Development, SPM LLC
12.30 Networking Luncheon
1.30 Keynote Address: Quantitative Approaches to
Portfolio Construction: Leveraging Algorithmic
Technology to Optimize the Portfolio Design
Process
•
Did diversification fail in 2008 and early 2009?
•
Is Modern Portfolio Theory now Outdated?
•
Do volatile markets create the need to protect Beta first and
capture Alpha second?
•
Which securities can be used to implement quantitative
portfolio management strategies (this will provide a nice segue
into the follow-up panel discussion)
Kevin Mahn, Chief Investment Officer, Hennion & Walsh
Asset Management
2.15 Panel: Delivering a High-Performance
Algorithmic Trading Infrastructure: Making the
Decision on Whether to Build or Buy
•
Determining what sort of trader you are, and what kind of
trading you intend to do
•
Understanding what’s involved with developing your own
trading infrastructure:
•
Hardware and software requirements
•
Start-up obstacles
•
Risk management techniques
•
Making the comparison with off-the-shelf black box products
Elliot Noma, Managing Director, Garrett Asset Management
Vikas Parikh, IT Director - Trading Operations & VMO, GE
Asset Management
3.00 Panel: Algos Gone Wild: Could a Rogue
Algorithm Bring Down the Market?
•
Examining the circumstances and consequences of past
algorithmic trading errors
•
Comparing the frequency and severity of errors made by
humans with errors made by algos
•
Evaluating the effectiveness of risk management tools designed
to mitigate the possible impact of a rogue algorithm
•
Identifying the most significant weakness in algorithmic risk
management strategies
Jeff Parent, President, Quadrexx Asset Management
Alison Graham, Chief Investment Officer, Voltan Capital
Management
3.30 Afternoon Networking & Refreshment Break
4.00 Interactive Roundtable Discussions
After an insightful day full of case studies, panels, and
presentations, this is your opportunity to debate your most critical
algorithmic trading issues within intimate groups of your peers.
Brainstorm solutions, make important new contacts and ask the
questions you really need answers to. Places are limited to 12
delegates on each table, so make sure you register well in
advance to be sure of your first choice. Roundtables will take
place on the following key topics:
•
Real-Time Transaction Cost Analysis: Controling Buyside
Transaction Costs
•
Algorithmic Trading of Commodities
Utilizing Automatic Strategies to Exploit Market
Inefficiencies
•
Trading the News
Machine Readable News Data for High Impact Algo
Trading Decisions
•
Algorithmic Trading for Derivatives and Structured
Products
•
Risk Management for Algo-Trading
•
Structuring Your Spending Priorities
5.00 End of Main Conference Day 1
Main Conference Day 1
August 26th 2010
www.AlgoTradingSummit.com 4

5. 7.30 Coffee & Registration
8.30 Chairman’s Opening Remarks
8.45 Regulatory Keynote Address: Equity Trading in
the 21st Century:
•
Financial innovation and the changing understanding of what’s
“in the public interest”
•
Flash orders, dark liquidity, and naked access: How the new
trading landscape is being interpreted within the halls of power
•
Perspectives on the future relationship between technological
innovation and regulatory change
Dr Chester Spatt, Pamela R. and Kenneth B. Dunn Professor
of Finance, Carnegie Mellon University; Former Chief
Economist, SEC
9.30 Electronic Trading and Financial Reform: What
New and Upcoming Regulatory Changes Mean
for the Future of Your Desk
•
A closer look at the recent activity of the SEC, CFTC, and
Congress
•
Understanding what’s on the cards: How new regulations will
impact traders in general and algorithmic trading in particular
• An update on the regulatory consensus around naked access,
pre-trade analytics, order cancellation fees and electronic
trading of derivatives
•
Examining the impact of regulatory changes on your choice of
technology platform
Joseph Engelhard, Senior Vice President, Capital Alpha
Partners
Garrett Nenner, CEO, Business Services, TTC LLC
Ellen Lee, VP, Policy & Regulatory Risk, TD Asset
Management
Thomas Kirchner, President & Portfolio Manager,
Pennsylvania Avenue Funds
10.15 How Dark is Dark Enough? Forecasting the
Impact of New Transparency Initiatives on the
Effectiveness of Dark Pools and the Algorithms
that Access Them
•
Examining the validity of the SEC’s concerns surrounding
inadequate post-trade transparency
• Evaluating the effectiveness of market-based responses to the
transparency issue, such as the voluntary reporting of
execution activity to NYSE’s central Trade Reporting Facility
•
Understanding the impact of existing and proposed
transparency changes on the algorithms that access dark pools
of liquidity
•
Where financial regulation is headed and how dark pools will
be affected
Mohamed Ayach, Information Technology Officer, Orbimed
Advisors
Michael Crockett, Former Senior Trader, Brazos Capital
Management
Jonathan Kanterman, Managing Director, Stillwater Capital
11.00 Morning Coffee & Networking Break
11.30 Trading Strategies for Less Liquid Markets:
Using Algorithms Effectively for Small Caps,
Micro-Caps, and Emerging Market Equities
•
Understanding the differences in price behavior between large
caps, small caps and micro caps
•
Examining some of the dangers of using conventional
algorithmic trading strategies in less liquid markets
• Identifying the risk management tools that can be used to
reduce market impact in smaller cap stocks
Jeff Parent, President, Quadrexx Asset Management
Alison Graham, Chief Investment Officer, Voltan Capital
Management
12.15 Milliseconds, Microseconds… Nanoseconds?
The Strange Future of the Latency Battle
•
Examining the major causes of latency in today’s infrastructures
– to what extent can we expect these to change in
forthcoming years?
•
Forecasting the impact of future datacaching and hardware
acceleration technologies on the latency margin
•
Will we ever reach a point where the cost of upgrading low-
latency trading technology outweighs the benefit?
•
Understanding the regulatory implications of ultra-low latency
trading
Marc Groz, Managing Director, Head of Corporate
Development, SPM LLC
Vikas Parikh, IT Director - Trading Operations & VMO, GE
Asset Management
Adam Honore, Senior Analyst, Aite Group
1:00 Lunch & End of Conference
Main Conference Day 2
August 27th 2010
“After the brief 1,000-point plunge in the stock market that day
[May 6th],the growing role of high-frequency traders in the nation’s
financial markets is drawing new scrutiny.
“Over the last decade,these high-tech operators have become sort
of a shadowWall Street — from New Jersey to Kansas City,from
Texas to Chicago.Depending on whose estimates you believe,high-
frequency traders account for 40 to 70 percent of all trading on
every stock market in the country.”
New York Times, May 2010
www.AlgoTradingSummit.com 5
“…the crisis appears to have been an aberration rather than a
turning point,though.Market participants haven’t lost faith in
the power of technology.Indeed,the competition to develop
newer,faster,more discreet means of market access has only
intensified over the past year.”
Institutional Investor, November 2009

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Yes! Register me at the following discounted rate (valid until July 2):
presents a training conference:
August 25 - 27 2010 | New York City
REGISTRATION FORM 5 EASY WAYS TO REGISTER!
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