Programme - Conrad Hotel, Tokyo – Tuesday, April 20, 2010

, Publisher, INSIDE MARKET DATA & INSIDE REFERENCE DATA

9.00 Morning keynote address: The rising importance of clearing facilities in Japan: retrospect and prospect

Yasuo Tobiyama, President & CEO, JAPAN SECURITIES CLEARING CORPORATION

9.30 End-user panel: Japan-specific trends and data issues facing consumer firms

• Data budgets in the context of the economic climate
• Analyzing data usage to identify potential savings
• Finding and retaining qualified and experienced data staff
• Data ownership and rights between exchanges, vendors and end users
• Investing for growth: what are the next hot areas for future investment?

Moderator: Chermaine Lee, Analyst, CELENT
Miguel Ortega, Market Data Engineer, DEUTSCHE SECURITIES JAPAN
Michael Hansard, Chief Information Officer, ING LIFE JAPAN
Siddharth Rawal, Head of IT Asia Pacific, SG ASSET MANAGEMENT

10.15 Morning break with networking opportunities

10.45 Panel discussion: Exchanges: Is Japan ready for Asian fragmentation?

• How are new markets changing the competitive trading landscape?
• Has Arrowhead hit the target? How will TSE’s new system improve market data availability?
• Need for standardized exchange data and contracts to access multiple new venues.
• Does fragmentation mean more competition and a better deal for clients? Or does it just mean more connectivity costs, exchange fees and audits?
• Is there a need for a consolidated tape of Japanese/Asian market liquidity?

Moderator: Hiroshi Matsubara, Co-chair, Japan Regional Committee, FIX PROTOCOL LIMITED
Philippe Bredel, Head of IT, CLSA JAPAN
David Degraw, Senior Product Specialist, Global Equity Trading, DAIWA SECURITIES SMBC
Takashi Hiratsuka, Chief Trader, Asset Management Division, RESONA BANK
Tomoyuki Makino, Department Manager, Compliance Department, PHILLIP FINANCIALS K.K.

11.30 Panel discussion: Enterprise data management: Measuring data quality to manage risk

• Timely and accurate data requirements for risk and regulation
• Applying data metrics to compare data from different vendors and push for higher quality
• Reducing reliance on manual data management activities to improve quality and mitigate risk

Moderator: Chermaine Lee, Analyst, CELENT

John Sproat, Executive Director, Enterprise Data, MORGAN STANLEY JAPAN
Robert Brachowski, Reference Data Product Manager, EAGLE INVESTMENT SYSTEMS
David Nichols, Executive Director & Chief Administration Officer, MORGAN STANLEY INVESTMENT MANAGEMENT JAPAN

12.15 Global leader case study: Best practices in balancing data reliability, quality and cost efficiency

Jeremy Green, Global Head, Market Data Services, STANDARD CHARTERED BANK

12.35 Lunch with networking opportunities

Introductory remarks: Ko Takahashi, Partner, Head of Financial Markets Industry, Banking & Financial Markets Consulting #2, IBM BUSINESS CONSULTING SERVICES

13.45 Keynote address: The emergence of “Arrowhead” and Japan’s future landscape of trading

Tomoyoshi Uranishi, Managing Director, TOKYO STOCK EXCHANGE

14.15 Panel discussion: Algorithmic trading within the increasingly competitive trading environment
• The evolving trading needs with the introduction of Arrowhead
• New strategies emerged from the adoption of low-latency trading
• Differentiating the advantages algo trading brings to sell side vs. buy-side financial institutions
• The growing need for flexibility in trade execution

Moderator: Hidehiko Shima, Senior Consultant, PROGRESS
Justin Short, Director, Asia Pacific Electronic Trading, BANK OF AMERICA MERRILL LYNCH
David Degraw, Senior Product Specialist, Global Equity Trading, DAIWA SECURITIES SMBC
Spyridon Mentzas, Consultant, Electronic Trading Department, MIZUHO SECURITIES

15.00 Panel discussion: Low-latency market connectivity and co-location: Competitive advantage or added cost?

• Is the market advanced enough for this to provide true competitive advantage?
• Identifying and eliminating latency caused by internal systems and service providers.
• Finding and managing the right mix of vendors and internal development to create a low-latency infrastructure.
• Creating the optimal direct feed strategies for managing pan-Japanese and pan-Asian trading

Moderator: Jeremy Green, Global Head, Market Data Services, STANDARD CHARTERED BANK
Michel Dinh, Head of Equity IT, CREDIT SUISSE (JAPAN)
Miguel Ortega, Market Data Engineer, DEUTSCHE SECURITIES JAPAN
Phil Enness, Global Solutions Manager, Financial Services Sector, IBM
Dennis Mwansa, Head of Trading Infrastructure Services, Asia Pacific, ROYAL BANK OF SCOTLAND (JAPAN)
Neil McGovern, Product Marketing Director, SYBASE INC

15.45 Afternoon break with networking opportunities

16.15 Panel discussion: Pricing illiquid assets to meet reporting requirements

• Reviewing best practices for taking evaluated prices
• The use of fair value pricing methods in middle and back office functions
• How to adapt to changing accounting standards
• Identifying challenges related to Japan’s implementation of IFRS

Moderator: Yukio Ono, Managing Partner - Audit & Enterprise Risk Services, Leader - IFRS Service Center, DELOITTE TOUCHE TOHMATSU
Yoshihiro Nomura, Board Member, ACCOUNTING STANDARDS BOARD OF JAPAN
Akira Hiramatsu, Chief Accountant, Corporate Accounting and Disclosure Division, FINANCIAL SERVICES AGENCY (JAPAN)
Kenichi Akiba, Professor of Commerce, WASEDA UNIVERSITY

17.00 Vendor Panel: The evolution of the information industry in Japan

• How are exchanges and data vendors adapting to changing client needs in the current economy? How are they weathering the pressures themselves?
• How are data providers balancing the need to make money against maintaining realistic prices for clients?
• What’s new? Where and how will vendors add value in the coming year?
• Are hungry global vendors-together with the trend towards globalization-squeezing out local providers, and what impact is this having on competition? What are the advantages of local versus global suppliers?
• What are Japanese exchanges and vendors doing to expand their presence outside of Japan? And does this risk losing their “local” appeal?

Moderator: Chermaine Lee, Analyst, CELENT
Mark W. Benfield, Regional Director - Asia Pacific, ICAP INFORMATION SERVICES
James Farrer, Managing Director - Asia Pacific, INTERACTIVE DATA
Randall Hopkins, Senior Vice President, Global Data Products, NASDAQ OMX GROUP
Keiichiro Ubukata, Vice President, Client Service and Sales, Japan/Korea, STANDARD & POOR’S
Hitoshi Izumi, Head of Information Products, TOKYO STOCK EXCHANGE

17.45 Closing remarks: Lee Hartt, Publisher, INSIDE MARKET DATA & INSIDE REFERENCE DATA

17.50 Drinks reception