2020 Webinar - Best Execution & Trading in the Equities Markets in the COVID-19 Environment

When:  Apr 2, 2020 from 1:00 PM to 2:15 PM (ET)

Panel Description

With the unprecedented volatility being experienced in the markets, consideration of issues surrounding best execution and the choice of trading counterparties and strategies has become more important than ever. IAA and Capital Markets Strategies will host two webinars to discuss the latest developments.

This first webinar provides observations from the equities markets. Hear updates about the current functioning of the equities markets, best practices for advisers and the buyside in considering best execution, and the latest developments around trading strategies and trading tools.

Specifically, the webinar will examine:

  • How the equities markets have functioned during the COVID-19 pandemic
  • Challenges to measuring and analyzing execution quality and trading performance
  • Impact of regulatory developments affecting access to information
  • Questions to ask of trading counterparties
  • How to best use algorithms and other technology-driven trading tools

The second webinar, Best Execution and Trading in Fixed Income and ETFs in the Current COVID-19 Market Environment, will be held on April 6 from 1:00 PM - 2:15 PM ET. Register for that webinar here.

Speakers

Ari Burstein is President of Capital Markets Strategies. In his role, Ari represents investment advisers, broker-dealers, hedge funds, securities exchanges and trade associations before regulators and policymakers, in the U.S. and globally, and provides advice on trading, best execution, asset management and capital markets issues. Capital Markets Strategies also partners with Stradley Ronon to provide advice on legal, compliance and regulatory matters. Prior to founding Capital Markets Strategies, Ari was Head of US Regulatory Affairs for Kreab, a leading global consulting firm. He also was Senior Counsel for capital markets issues for the Investment Company Institute (ICI) and ICI Global, the global trade associations for the regulated fund industry. Prior to joining ICI, Ari was an attorney in the U.S. Securities and Exchange Commission’s Division of Investment Management from 1997 to 1998 and the Division of Market Regulation from 1992 to 1997.

Roman Ginis is the Founder of IntelligentCross, the first AI powered ATS for US equities that minimizes market impact for institutional investors. Since launching in 2018 the venue has won multiple accolades from brokers for top quality in trade execution. Previously Roman was a quantitative trader at Point72 and UBS, where he developed and traded market making and event-driven strategies. Before finance, he worked on DARPA projects at BAE and stream processing technology at IBM Watson Labs. Roman holds a Ph.D in Computer Science from Caltech, focused on distributed systems and discrete optimization.

Vlad Khandros is a Managing Director at UBS Investment Bank, based in New York. Vlad is the Global Head of Market Structure and Liquidity Strategy and also the Global Co-Head of Principal Investments and Strategic Ventures. His responsibilities include automated trading solutions, principal investments and tactical divestitures for UBS. Additionally, Vlad is Vice Chair of the SIFMA Equity Markets & Trading Committee, helped create and advises MEMX, and is on the board of the UBS Americas Inc. Political Action Committee (PAC). Prior to joining UBS in 2011, Vlad was Global Co-Head of Corporate Strategy at Liquidnet. At Liquidnet he was responsible for business development including M&A and strategic partnerships, global market structure, and government relations. Vlad was ranked a Rising Star of Finance in Forbes Magazine’s 30 under 30 list, Business Insider's 35 under 35 list, and Crain's New York Business.

Mehmet Kinak is a vice president of T. Rowe Price Group, Inc. He is the Global Head of Systematic Trading and Market Structure. Mehmet’s primary focus is electronic and program trading, market structure analysis, and transaction cost analysis. He is the Co-Chair of the NYSE Institutional Traders Advisory Committee and serves on the Institutional Traders Advisory Committees of CBOE Global Markets, IEX Group, and Nasdaq. Mehmet previously served as a member of the SEC Equity Market Structure Advisory Committee. He is a board member of the National Organization of Investment Professionals (NOIP) and Chairs ICI’s Equity Market Structure Advisory Committee. Mehmet joined the firm in 2000 and worked as a portfolio accounting associate, investment liaison, portfolio implementation manager, and electronic trader before assuming his current role in 2014. Mehmet earned a B.S. in finance from Virginia Polytechnic University.

Tim Lang is the CEO and Founder of Global Liquidity Partners. He began his work at GLP with the vision that there was a significant technology void in the equity marketplace due to fragmentation. His goal was to create a best in class, performance driven execution services platform. Since January 2011 GLP has been successfully servicing the broker dealer community in providing a full suite of solution driven algorithmic strategies. The offering has been expanded over the past two years to include the buyside with a focus on customization. Tim’s career in trading and technology has spanned 40+ years. He has held senior positions at Merrill Lynch, Spear Leeds & Kellogg and National Discount Brokers. He founded Phoenix Third Market, one of the first automated market makers of listed securities. At Swiss American Securities, a subsidiary of Credit Suisse, he managed an electronic platform trading over 3000 listed securities. He has served on numerous NMS committees and prides himself on being a student of market structure.

Phil Mackintosh is Global Head of Economics & Research and a Senior Vice President of Nasdaq, Inc. His team is responsible for a variety of projects and initiatives in the U.S. and Europe to improve market structure, encourage capital formation, and enhance trading efficiency. Phil has 28 years of experience in the Finance industry. Prior to joining Nasdaq he was the Head of Trading Strategy & Analysis at KCG/Virtu Financial. He has also served as the Global Head of Trading Strategy at Credit Suisse, and the Head of Index Portfolios at County Investment Management. He started his career at KPMG and is also a Chartered Accountant. This gives Phil has a unique blend of operational risk, buy-side and sell-side experience. Over the past 15 years he has published research on indexes, ETFs, market structure, trading and retail investors.

Gail C. Bernstein is General Counsel of the Investment Adviser Association. She joined the IAA from the law firm of WilmerHale in Washington, DC, where she had been a Special Counsel in the Securities Department from 2008 until June 2017. Prior to that, Ms. Bernstein was first an associate and then a partner at Wilmer, Cutler & Pickering (now WilmerHale) in Washington, DC. While in private practice, Ms. Bernstein counseled clients on all aspects of financial and securities regulation, with a specific focus on the Dodd-Frank Act and securities and derivatives law and compliance. Ms. Bernstein grew up in South Africa and earned her B.A. from the Hebrew University of Jerusalem in 1982 and her law degree from Harvard Law School in 1988. After law school, Ms. Bernstein clerked for the Honorable Douglas P. Woodlock of the U.S. District Court for the District of Massachusetts and was an associate at the Boston law firm of Mintz Levin from 1989-1990, when she moved to Washington.

Registration

Registration for the live webinar has closed. The webinar will be recorded and available as a member resource.

Questions?

For questions regarding this webinar, contact the IAA at (202) 293-4222 or email iaaevents@investmentadviser.org.