If you are unable to attend but would like to receive
documentation from this conference,
please call 312.540.3010
If you have any questions please fill out an online inquiry.
If you would like to register for an ICM Conference please fill out an online registration form.
Or contact Alyson Smith in New York at (212) 983-3500 to register.
8:30 REGISTRATION & COFFEE
9:00 CHAIRMAN'S OPENING REMARKS
9:15 THE REAL AND PERCEIVED PROBLEMS OF INSTITUTIONAL DEVELOPMENT ON THE INTERNET ( Problems perceived by institutional dealers that don't really exist - Clients lack of interest in the Internet as an interactive medium - "Wait and see" policy on the regulatory agencies ( The real problems in dealing with the Internet - Security - Speed/technological developments - Standardization of networks between banks, brokerages, funds ( Maintaining your client base - Conversion of existing clients to the Internet - Ability to obtain new clients due to cost efficiencies on both sides ( Changing the institutional dealers' perception that clients are Internet-averse David Siegel Senior Vice President & CIO D.E. SHAW & CO.
10:00 DEFINING THE INTERNET MARKETPLACE FOR THE INSTITUTIONAL SUPPLIER OF INTERNET SERVICES ( Characteristics of the current Internet financial user ( Purpose for using the Internet by institutional v. retail ( What the interactive institutional site should offer - Trading - Settlement - Consulting ( Changing the view of the Internet as a cost effective medium for the institution Paul Sciabica Manager, Internet Technology MERRILL LYNCH
10:45 MORNING BREAK
11:05 ESTABLISHING A REGULATORY AND LEGAL FOUNDATION FOR INTERNET TRADING ( Purpose of security laws - To protect the investor from fraud ( Effects of recent developments - Standardization of no-action letters - Ruling for brokerages to receive commissions from dealers for introducing new clients ( How institutions can meet regulations - Obtaining regulatory approval for bulletin boards - Validity of establishing an SEC "blacklist" of fraudulent sites ( Regulatory implications of a "Barings" type scandal ( Competition concerns - The role of self-regulation - Creating a level playing field David Balto Attorney Advisor to the Chairman FEDERAL TRADE COMMISSION
11:50 OVERCOMING OBSTACLES TO IMPLEMENTING AN INTERNET IPO AND DPO ( Traditional role of the investment banker - Due diligence - Diversifying members and portfolio - Selling the offering ( Practical methods of translating the traditional role to the Internet medium ( Filling the gap between small capital raising and middle-market financing ( Establishing criteria for determining performance of a new issue - Profitability - Management strategy - Popularity of the offering v. product ( Effectiveness of Internet virtual roadshows ( Coordination between issuer, publisher, and underwriter ( Result: a more educated solicitation by the broker/ registered rep
12:35 LUNCH FOR SPEAKERS & DELEGATES
1:45 CASE STUDY: ESTABLISHING A BOND OFFERING ON THE INTERNET ( Underwriting the bond ( Creating the program and administration plans ( Creating the online roadshow for the bond issuance ( Setup of the bond calculator ( Concerns - Still need the telephone to establish the first contact - Working with the issuing corporation Tom Ricketts Director CHICAGO CORP.
2:30 UNDERSTANDING THE LEGALITIES OF INTERNET TRADING: WHAT A TRADER NEEDS TO KNOW ( Cross-border issues - Interstate - International ( Offerings - Whether future offerings need to include all exchanges - "Blue sky" regulations - Proper disclosure - The role and importance of due diligence ( Protecting your book when clients decide to use the Internet ( Determining cutoff between investor and necessity to file as a B/D Monte Wetzler Partner BROWN RAYSMAN
3:15 AFTERNOON BREAK
3:35 HOW THE INSTITUTIONAL INVESTOR CAN BENEFIT FROM THE INTERNET ( The traditional institutional dealer-investor relationship ( Problems with the traditional relationship - Lack of information flows - The politics of dealer-client relationships ( Internet product developments that can affect the institutional investor - Sophistication of Internet offerings - Added liquidity due to Internet communications - Increased information flow through Internet ( Effects of facilitating flow of financial instruments using the Internet - Potential for decreased v. increased volatility in the market - Potential for a fairer and freer market Jack Dillahunty Vice President BOND EXPRESS
4:20 CASE STUDY: UTILIZING THE INTERNET FOR INTERACTIVE TRADING ( Cost effectiveness of maintaining clients over the Internet - Less dependence on the registered representative book - Potentially do large offerings economically - Direct client billing ( Maintaining liquidity in a new medium of exchange ( Ability to maintain book in-house Carl Carrie Vice President TULLETT & TOKYO
5:05 CHAIRMAN'S SUMMATION
5:20 END OF DAY ONE
If you are unable to attend but would like to receive
documentation from this conference,
please call 312.540.3010
If you have any questions please fill out an online inquiry.
If you would like to register for an ICM Conference please fill out an online registration form.
Or contact Alyson Smith in New York at (212) 983-3500 to register.