Comprehensive Risk ManagementPodcast series sponsored by Sybase | Produced by SourceMedia, publisher of SIN and Traders
Podcast 1: Managing Execution Risk
Equities trading has undergone a revolution with the rise of electronic or algorithmic trading which has driven up the number of trades while the size of each trade has dropped into a few hundred share. Trades are executed in milliseconds across a large number of venues of both displayed and dark liquidity in the search for best execution. Many firms have not invested sufficiently in their data infrastructures to keep up with market developments. Execution effectiveness and transaction cost analysis are measurable. Clients will demand the best performance and firms which have achieved it can be expected to use their stats in marketing. That truism of risk and opportunity being the opposite sides of the same coin certainly holds true here. At its core, execution risk is an information management challenge which promises great rewards for the firms that get it right. This podcast identifies execution risk and explores solutions to managing it.
Speakers:
Sinan Baskan is Director of Business Development for Financial Markets at Sybase and is responsible for developing solutions for lines of business in the Financial Services sector. He has held various positions in the Product Engineering, Professional Services and Marketing organizations at Sybase. Previously, Sinan was Senior VP at HSBC Corporate Investment Bank leading the Risk Technology team in NYC, and at IBM and had started his career at IBM Research Division. He has BS and MS degrees in engineering from Lehigh University and an MBA in Finance from Columbia University.
Miranda joined TABB Group as a Senior Consultant in March 2008. Prior to joining TABB, she was Senior Vice President of Transaction Services at the American Stock Exchange, where she headed the group responsible for the functional development of the Exchange's hybrid trading platform for equities and Exchange Traded Funds. She moved to the American Stock Exchange in 2004 after eighteen-month tenure as a senior analyst at TowerGroup, where she authored reports focusing on technologies used by institutional brokers. Prior to TowerGroup, she was at Instinet, which she joined in the UK in 1997 as a product manager responsible for designing and implementing an order management system for cross-border business. From 1987 to 1997, Miranda held several positions at S.G. Warburg where she ran the French risk positions for the group and managed strategic trading initiatives designed to create transparency and efficiency.
Penny Cagan, Managing Director, Credit Content & FIRST Data, Algorithmics
Penny Cagan is a Managing Director with the operational risk division of Algorithmics. She has over twenty-five years experience in the field of financial services research. She currently manages the First and Opdata operational risk loss event databases and is head of research for the group. Penny has published numerous articles on the topic of Operational Risk in Risk Magazine, Operational Risk newsletter, FOW, and the John Liner Review. Penny is a highly-regarded and frequently requested speaker on operational risk and has given many keynote presentations on the topic.
Penny developed the case study approach to operational risk based on external events and was the first person to go to market with an operational risk case study database. She has established the best practice standard for examining and analyzing case studies and has managed the First database for the past seven years and under three different owners. Earlier in her career, she served as Head of Research for Deutsche Bank´s North American Business Information Services division and as Head of Reference Services with PaineWebber's investment banking division.
Penny holds a MLS in Library Science and a BA and MFA in English Literature and Creative Writing.
Moderator:
Tom Groenfeldt is a contributing writer for Securities Industry News in New York and Banking Technology in London. He was the founding editor of Windows in Financial Services, which covered Microsoft technology in capital markets, banking and insurance. He has also written for Risk, American Banker, The Economist and The Financial Times.
Podcast 2: (Coming Soon)
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