In Search of the Perfect Counterparty

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In Search of the Perfect Counterparty

• Moderator
• George Reis, Industry Consultant, The Asset
  Managers Forum
• PanelistsJohn Spicciatie, The Bank of New York
• Dave Hosler, Credit Suisse
• Lisa Ilaria, New York Life Investment Management
• John Burchenal, Omgeo, LLC

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A Roadmap to the Perfect Buy-Side Counterparty
Presented by John Spicciatie, The Bank of New
York
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Key Points For Perfect Buy-Side Counterparty

• Communicate, Communicate, Communicate!
• SSI changes
• Structural changes both internal Ops changes and
  external mergers/acquisitions
• New sub accounts
• Surveys participate, and if you do not feel
  that the results accurately reflect your firm's
  position, let us know (not every customer is a
  gorilla)
• Respond to MIS If we provide it, use it!
• Fail Reports
• Open Money Reports
• Documentation Issues (QIB Letters, Corp Auth, PB
  Docs)
• Talk to your Front Office Let them know how we
  are doing
• Straight Through Processing
• BLOCK Confirmation to reduce RISK!
• Pick a Platform (vendor or proprietary) and stick
  with it
• STP (Oasys, TradeXpress, MarketAxess, FIX,
  Deriv/SERV, SwapsWire)
• Email (with working format, i.e., Excel, text,
  etc.)

Presented by Dave Hosler, Credit Suisse
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The Asset Managers Forum STP CommitteeCommunica
tion Grid Recommended Time Requirements
Presented by Dave Hosler, Credit Suisse
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Characteristics of the Perfect Counterparty YFrom
the eyes of an Investment Manager

• Partner
• Daily support
• Strategic solutions
• Performance standards / metrics
• Technological
• Use of standard processes to improve efficiencies
  and reduce risk

Presented by Lisa Ilaria, NYLIM
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The Perfect Vendors View of Their Client Base

• Nobodys Perfect Buy-side and Sell-side
  marriage creates a constructive tension that
  results in a stronger industry
• Striving for Fixed Income Perfection - Reaching
  critical mass in Fixed Income STP
• Perfect Hindsight - Front office seeing the value
  of the back office
• Perfect Harmony - Creative solutions needed to
  expand asset class coverage
• Becoming a more perfect industry citizen by
  participating, listening acting
• Perfect Storm - 2006 STP Drivers

Presented by John Burchenal, Omgeo, LLC