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Course Subtitle:

Before the machines, markets were a place that humans with roughly equal information and reflexes set the prices of financial assets by buying and selling. After the machines took over, markets became dominated - in terms of volume, liquidity and pricing - by machines, artificial intelligence, and algorithms that operate in time frames of a millionth of a second. We will explore these impacts and future developments of technology in today’s & tomorrow’s capital markets.

The Course 

10 years ago, the Rise of the Machines (aka high frequency trading algorithms and artificial intelligence) completely altered the terrain of what we call the capital markets. Not only are today's markets something the human traders of a generation ago would fail to recognize, they're no longer a place where human actions of any sort have much of a remaining role. The digitalization of the workplace gives organizations a new set of options for getting work done. It’s time to move beyond alarmist rhetoric about market automation and consider how human-machine collaboration can deliver a higher level of productivity. The question to ask isn’t how many finance jobs will be replaced by artificial intelligence (AI) and robotics, but how work can be reconfigured in order to achieve the optimal integration of talent and machines. From liquidity improvements, to big data, to settlement technology, and blockchain. We are now in a new wave of automation, AI in the capital markets are here to stay. 

This course is available In - House.

Location

Downtown Conference Center
157 William Street
New York, NY 10038
USA
Tel: +1 212 618 6990
www.downtownmeetings.com 

Your Expert Trainers and Provider

Sol Steinberg is a OTC Markets Subject Matter Expert and specializes in Risk Management, OTC derivatives, Market structure, Collateral, Trade Lifecycle, Valuation, Financial Technology Systems, Strategic development, and Monetization.

Sol is the founding principle of his firm, OTC partners. OTC partners is a boutique value add firm that specializes in research, content, development.  Before starting OTC Partners Sol was a senior executive at the world’s leading clearing house LCH.Clearnet.  Sol also spent nine years on the buy side and Citi, performing product development, risk management, and valuation for the OTC markets.

Sol has a wide-ranging network of asset managers, analytic providers, execution venues, regulatory, and government contacts.  He used his eco system to successfully commercialize analytics, data, and other non commercialized intellectual property and had significant monetization success. He brought to market several initiatives, including institutional and commercial risk engines such as SMART tool, Risk Explorer, Global Market Risk System for Citi: the largest VaR engine in the world from 2004 to 2006, as well as developing CCP2 – a derivative education & certification program for leading consultancies. Sol also contributed to OTC industry’s clearing and default management policies for the cleared OTC swap markets as well as contributed to industry standard risk analytics in times of low market rates.

Awards/Honors

Waters Magazine’s award “Best risk analytics initiative 2012” &  “Best risk analytics initiative  (Sell Side) 2013” 

FTF’s award for “Most cutting edge risk contribution 2013” for developing the SMART risk analytics tool.

Global nominee in 2012 for “Best Practices in Global Financial Risk Management” from PRMIA, Professional Risk Managers International Association.

Course Takeaways

How you will benefit:  

1. Gain a profound understanding of what lies ahead of you in the rapidly changing Capital Markets and Capital market structure.

2. Understand new technology that is impacting the markets and what FinTech is next to impact the market.

3. Explore relevant risk factors that keep market participants up at night. Understand how to diagnose and hedge these risk factors in a volatile market.

4. Participants will be better equipped to understand the unique dynamics of the markets. How various factors push and pull, effecting other areas of the market. How regulation, collateral management, and high-frequency trading have an impact on market conditions.

5. Participants will address the challenge of today's market as well as what challenges are on the horizon.  

Delegate challenges/Your solutions:  

Challenge #1: “I don't understand what is driving the market?”

Participants will come away from this class understanding not only market structure but the factors that are affecting the market and what to expect in the future in terms of market conditions, future regulation, and other important factors affecting our ecosystem.

Challenge #2: “I don't understand the new technology such as blockchain or crypto currency.”

After attending our course participants will have a deep and profound understanding of the technology behind the crypto currency's blockchain, applications, as well as the current dynamics of the crypto currency trading environment. Participants will also learn what to expect in the future for this revolutionary technology

Challenge #3: “I don't have a clue on what is happening with the future of regulation, & how is Brexit going to impact my life?”

Participants will not only understand market structure conditions but they will also understand market risk conditions that will affect the market going forward. Participants will have a profound understanding of the future of regulation, what it means to them in their business, and what to expect in terms of market conditions because of these changes.

Agenda Day 1:

Module 1

Modern Market structure looking beyond 2020: The rise of alternative technology, marketplaces, and products such as exchange traded derivatives, and crypto currencies. 

  • Exchanges, Clearing houses, and Collateral
  • Exchange traded & OTC derivative landscape
  • Crypto currencies dynamics, offerings, and eco system
  • Blockchain, AI, and machine learning in trading, finance, and operations

Module 2

Regulations, Donald Trump, Brexit, and Red Flag Risk Factors- Studying the impacts on the capital markets 

  • MiFID II: One of the most seismic regulatory shifts in history affecting everything from research to dark pools
  • Who will be Bitcoin’s ultimate regulator: Future state of Crypto currency trading regulation
  • The Global LEI Initiative – The LEI is part of a much bigger market structure solution
  • Deregulation: a lose-lose game that would have serious consequences for the stability of the world financial system 

Module 3

Collateral Tidal Wave: Collateral usage today, tomorrow, and impeding shortfall.

  • Account segregation history: MF Global, LSOC, CFTC, CME, and John Corzine
  • Instant Payment? Ripple & MoneyGram’s XRP digital currency
  • What can China do to help the global collateral exchange?
  • Exploring the impact and rule set for non-cleared margin regulation

Module 4

Crypto-currency evolution, use cases, exploring hype vs. sustainability

  • Crypto-currency trading, and the regulatory response
  • Case Study: Omega One ,leading crypto-asset agency brokerage for asset managers and institutional investors
  • Ethereum and SMART contracts: The winning model for settlement in the future.
  • Case Study: Silk Road & Dread Pirate- the complete story- and how the illegal marketplace changed market and trading history

Agenda Day 2:

Module 1:

Exchanges, Clearing houses, Market Share & Industry battles and future winners

  • Case Study: Quantile Technologies Ltd & compression. Reducing risk in the $600 trillion derivatives market.
  • Case study: OpenDoor- tackling the illiquidity problem with bond trading
  • Case Study: BitMEX, a cryptocurrency exchange changing market structure forever.
  • The Future of Libor & ISDAfix: a Review of the Libor manipulation scandal and how  the rate will be assembled in the future

Module 2:

HFT, Connectivity, & AI in Trading- Have we hit a wall? How competitors have reached critical mass

  • Combating HFT? IEX launches HFT proof exchange, reviewing the offering and why it works and why it doesn't matter anymore.
  • Chicago Stock Exchange: The new hub for China stock trading?
  • Case Study: No more traders? How market leader JPM is automating almost their entire worldwide trading business – eventually
  • Case Study: Hedge Fund Renaissance & Artificial Intelligence greatest success story in the Markets- How Renaissance’s Medallion Fund Became Finance’s Blackest Box

Module 3: 

The future of financial crimes and prosecution, what is fair game? 

  • Lessons from the World’s largest Cryptocurrency Heists
  • Case Study: Snitching on Wall Street. Informant Double-Crossed the FBI
  • The CFTC &  DRW: Trading manipulation lawsuit &  “Banging-the-Close”
  • Is the VIX Being Gamed? VIX trading and ongoing manipulation in the volatility index market 

Module 4:

Blockchain and other game changing Fintech offerings

  • Blockchain live: ASX Ltd. processing equity transactions powered by Blockchain & Digital Asset Holdings
  • Your sandbox or mine? A review of current offerings and initiatives from Axoni, Digital Asset Holdings, Symbiont, R3 and Chain
  • The Ethereum Blockchain & zero-knowledge proof:  Adding a level of privacy encryption
  • Case Study:  AirSwap- The worlds first decentralized exchange utilizing Blockchain technology

CPD Certification

You will be able to receive CPD points for attending this event (number of points to be confirmed).

The CPD Certification Service was established in 1996 as the independent CPD accreditation institution operating across industry sectors to complement the CPD policies of professional and academic bodies. The CPD Certification Service provides recognised independent CPD accreditation compatible with global CPD principles.

www.cpduk.co.uk

Booking

 

Register to ANY ONE day of the workshop
Register to BOTH days of the workshop and receive $200 discount

Rise of the Machines the Next Frontier of Finance Day 1: Standard fee $1299
Rise of the Machines the Next Frontier of Finance Day 2: Standard fee $1299
 
Pay Standard Fee
Academic Discount 70% (FULL-TIME students only.
Please respect this, we will check)
 

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