Event Agenda
View the event agenda here
Market Data New York Agenda
Both days led by tutors John Best and David Curran of KSS Training
Day One | 24 September
9:00
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Registration and refreshments
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9:30
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The Markets
- Evolution of capital markets and securities trading
- Differences between commercial and investment banking
- The role of financial markets today
- The trade lifecycle
Participants in the Financial Markets
- Buy Side and Sell Side
- IDBs
- Exchanges and the lesser regulated trading venues
- Supporting services
The Internal Functions of Financial Institutions
• Front, Middle and Back Office Functions
• Trading, Research, Portfolio Management
• Risk Management, Pricing
• Clearing and Settlement
• Direct Market Access and Auto Execution
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11:00
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Morning Break
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11:30
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Market Oversight and Regulation
- The supervisory landscape
- Governments
- The Bank of International Settlement (BIS)
- Central Banks
- Types of Regulation
- Regulators
Major Asset Classes
- Equities
- Stocks, Shares and Equity-linked Securities
- Fixed Income
- Government, Municipal and Corporate Bonds
- Asset-Backed Securities
- Floaters, Convertibles, Islamic Bonds
- Short/Medium Term Debt
- FX Markets
- Commodities
- Derivatives
- Futures, Options and Swaps and Credit Derivatives
- Structured Products
Issues and Challenges – The Markets
- Global – Basel I, II, III
- The US Markets – From RegNMS to Dodd Frank
- The European Union – From MiFID to MiFID II / MiFIR
- Origins and Impacts of the Credit Crunch
- Challenges in Asia
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1:00
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Lunch
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2:00
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Market Data Sources
- Contributed Data
- Exchange Data
- Regulated Markets, Reported Data, Data Packages
- Lesser Regulated Trading Venues
- Vendor Generated Data
- Internal Sources, Added Value Data
Types of Market Data
- What do we mean by Market Data?
- Data Packaging
- Fundamental Data
- Company and Economic Fundamentals
- Delivery Options
- Historical and Time Series Data
- Types and Uses
- Valuations Data
- Regulatory Drivers
- The Importance of Independent Valuations
- Credit Ratings Data
- The Uses of Ratings Data
- Ratings Scales, Ratings Agencies
- Indices
- Index Calculation Methods
- Index Providers, Index Licensing
- News and Commentary - types of news and commentary, major providers, machine readable news
- Messaging
- Reference data
- Instrument and Counterparty Reference Data
- Corporate Actions
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3:30
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Afternoon Break
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4:00
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Standards: Essential for Straight-Through Processing and good Data Quality
- Standards Goals for Achieving STP
- The Challenges for Standards – Role of ISO
- Instrument and Business Entity Identifiers – CUSIPs, RIC Codes, Bloomberg FIGI, LEI etc
- Data Model for Instruments – ISO 20022 and the EDM Council
- Messaging Standards – ISO 15022 and FIX
Issues and Trends – The Data
- ECB market utility for securities reference data
- Impact of ‘socially responsible investing’
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5:30
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End of day one
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Day Two | 25 September
9:00
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Refreshments
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9:30
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Summary of Technology Building Blocks
- Hardware
- Operating Systems
- Software Development, Buy or Build
- Programming Languages
- Connectivity and Hosting
- Distribution Strategies and Protocols
- Network Components
- Wide and Local Area Networks
- Bandwidth and Latency Considerations
- Hosting and Co-location
- Reliability and Stability
Summary of Datafeeds
- Principles of Datafeed Delivery including Data Representation
- Primitive Data Types, Datafeed Packaging, Datafeed Protocols
- Aggregated and Hybrid Datafeeds
- Comparison of Vendors
- Direct Datafeeds
- Examples from Exchanges, MTFs and Brokers
Market Data Distribution Systems (Workstations and Platforms)
- Workstations, Bloomberg and Eikon
- Refinitiv Enterprise Platform (inc TREP & RMDS)
- Summary of non-Thomson Reuters Platforms and Messaging Systems
- BM, Infomatica (29West), Vela (inc NYSE &Wombat), Activ Financial, Tibco
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11:00
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Morning break
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11:30
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Overview of Financial Sector Specific Applications
- Charting & Technical Analysis
- Risk Management
- Traditional Trading Systems inc OMS & EMS
- Pricing Systems
Algorithmic Trading from a Business Perspective
- The anatomy of an Algo Trading system
- Differentiators
Price Publishing and Contributions
- Publishing and Multi-vendor Contributions Systems
- Refinitive (Thomson Reuters) Arcontech, MDX
- Fixing Rates
- Regulatory Concerns Inc. The Libor and FX fixing scandals
Issues and Trends – The Technology
- HTML5 & Web 2.0
- Clouds, Grid and Virtual Computing
- The Algo and HFT Debate
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1:00
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Lunch
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2:00
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Users and Uses of Market Data
- Human Use of Data
- Local Applications
- Shared Applications
- Algorithmic-based Applications
Market Data Usage in Consumer Firms
- Front Office
- Mid office and Risk Management
- Back Office
- Compliance
Summary of the Commercial Frameworks for Distribution and Use of Market Data
- Example commercial frameworks - Bloomberg, Refinitiv (Thomson Reuters)
- Unit of Count
- Datafeed Licensing
- Contracts, Compliance and Audits
- Data Usage Reporting and Inventory Management - DACS, OPEN DACS, DART, MDM, FITS, INFOmatch
The Vendor Landscape
- Overviews of: Bloomberg, Refinitive (Thomson Reuters), ICE Data, Six Financial, Morningstar, Standard & Poor’s, Dow Jones, FactSet, IHS Markit
- Sample Exchanges and MTFs: NYSE, LSE, DBG, BATS, Chi-X
- Regional Niche Players
- Specialist Players
Summary of Market Data Job Functions
- Consumer Firms
- Vendor Firms
- Exchanges & Regulators
Providers and Industry Groups
- General Data Providers
- Exchanges and Trading Venues
- Technology Providers
- Peer Groups and Trade Associations
Issues and Trends – Data Management and the Vendor Landscape
- Symbology Licensing
- Derived Data & Data Piracy
- SLAs
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3:30
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Afternoon Break
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4:00
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FISD and the FIA exam
- FISD the organization
- The aims and objectives of the FIA exam
- Registration for the FIA Exam
- Exam Locations
- Moving and Rescheduling the Exam
- Discounts
Exam Preparation - After Day One
- Simple Sample Exam Questions
- Vendor and Product Categorization Exercise
Exam Preparation – After Day Two
- Hard Sample Exam Questions
- Flash Cards
- Market Data Dictionary and Glossary
- Accessing additional KSS-T training support
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5:30
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End of course
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