Why have equity trading venues been among the last to employ some of the most exciting, promising new technologies introduced in the last 25 years? AI is well suited to disrupt the status quo in equity trading venues because of its particular – and unique – market structure: readily measurable performance, well-defined investor objectives, a large number of transactions, highly commoditized nature of current platforms and it’s history of accepting technological disruption. These characteristics make now the time to bring advanced technologies like machine learning to equity trading venues. It’s time for a “smart venue.”
A joint survey conducted by Hegarty Group and Eagle Investment Systems specifically identifies how asset managers are deploying emerging technologies. The bigger question for many, also addressed, is how organizations can take the necessary steps today to access the impending wave of innovation. This report lays out the role AI, Machine Learning, Robotic Process Automation (RPA), Alternative Data and other emerging technologies are playing in the Digital Transformation of the Asset Management industry.
”Firms are at varying stages in the migration to a multi-asset class environment – some are just starting, some are fully multi-asset,” said Rob Hegarty, Managing Partner at Hegarty Group and roundtable moderator. As drivers of the migration to multi-asset trading, Hegarty cited increasing cost pressures; opportunities for collaboration; the availability and ubiquity of data; the rise of quant resulting in cross-asset strategies; advancements in available technologies; and new asset classes such as cryptocurrency.
“It’s important to remember that this isn’t just a bank or a custodian acquiring an OMS, this is a much bigger deal than that because this is a large-scale, full-service asset servicer acquiring an integrated asset management platform,” Hegarty says. “To even put CRD in the OMS-only bracket isn’t fair; I think many people know it’s bigger than that but it's been getting characterized as a bank buying an OMS and this is not that.”
Read my views on how the buy side can turn the immense technological disruption occurring in their industry to their advantage. Whether it’s harnessing the vast amount of structured, unstructured and alternative data coming at us every day, taking advantage of the power of AI and Machine Learning, deploying practical uses of RPA, or understanding and responding to the disruptive forces of block chain and emerging FinTech players, the investment industry is poised for change unlike any other time in its history.
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FEBRUARY 6, 2019 NEW YORK, NY
Rob Hegarty is a judge for and will be attending the Fund Technology and WSL Awards Dinner.
The Fund Technology Awards 2019 recognize and reward providers catering to asset managers and institutional traders that have demonstrated exceptional customer service and innovative product development over the past 12 months. Previously known as the WSL (Wall Street Letter) Institutional Trading Awards, 2019’s event will highlight the efforts of technology providers, broker dealers, data specialists and exchanges in meeting the needs of the asset management community. This year the awards will have an increased focus on the new innovations coming to market as vendors look to ensure asset managers have the latest tools in their armory to compete in a rapidly evolving space.
DECEMBER 5-7, 2018 MIAMI, FL
Rob Hegarty will be chairing the track on New Liquidity Initiatives in Equity Trading. Topics include: Buy Side Wish list for new liquidity initiatives; which new initiatives are getting traction; what are key characteristics required for new liquidity venues.
Rob will also be moderating 2 other sessions:
NOVEMBER 8, 2018 BOSTON, MA
The Americas Trading Briefing 2018 in Boston will provide an unrivaled opportunity for industry representatives to participate in a forum where the real issues, challenges and opportunities impacting the region’s electronic trading community will be addressed. Building on the successes of the past Boston Trading Briefings, this half-day briefing will provide a series of panel sessions and will offer market participants an interactive program that addresses market needs, providing impartial, high quality content, the knowledge and experience of industry leading speakers, and networking opportunities throughout the event
OCTOBER 16, 2018 NEW YORK, NY
Rob Hegarty moderated a panel exploring innovations in the financial markets. Whether in investment decision making, trading, clearing, or other corners of our industry, the financial markets are undergoing a wave of innovative transformation like we’ve never seen. From new business models, to transformative technologies like the cloud, artificial intelligence, machine learning, and block chain, the financial markets industry as we know it is forever changed. And all of this change is happening within the boundaries of a rapidly evolving regulatory regime. This panel will explore the trends driving these changes, how your firms are adapting, and what’s in store in the coming years.
OCTOBER 4, 2018 JERSEY CITY, NJ
For DTCC's Institutional Trade Processing Advisory Council, a member group of senior technology and operations leaders from buy side, sell side and custodian firms, Rob Hegarty is leading a discussion on the consolidation occurring in the industry. He will present on the ongoing trend of back and middle-office processing and administration firms moving into the front office through acquisition, in a bid to offer a comprehensive full trade lifecycle service for capital markets firms. He will discuss and present on the trends, deals, players, and future of the industry resulting from this consolidation.
SEPTEMBER 18, 2018 BOSTON, MA
Rob Hegarty led a roundtable discussion of buy side trading and technology leaders on the challenges and opportunities of multi-asset class trading. Topics explored include: What's important for an optimized multi-asset trading desk; the role of technology in building and maintaining a multi-asset trading desk; is a siloed framework for trading desks truly a thing of the past; where do emerging technologies like AI, machine learning, blockchain, cloud, big data, etc.) fit on the multi-asset trading desk of today -- and tomorrow.
SEPTEMBER 14, 2018 BOSTON, MA
It's back! And bigger than last year! One of the most informative, content-rich and valuable FinTech events in the country.
Rob Hegarty moderated the closing panel for Boston FinTech Week, "The Future of FinTech" Sponsored by Babson College's Stephen D. Cutler Center for Investments and Finance, the panel discussed the latest trends and predictions for the future in finance technology. Topics included: how financial businesses are changing the way they adapt to technology, collaboration with startups, data privacy issues, and opportunities across markets.
MAY 9-11, 2018 NEW ORLEANS, LA
Rob Hegarty chaired and moderated IdeaLabs, TraderForum’s annual look at how artificial intelligence, predictive analytics and advanced data visualization are revolutionizing the investment process. TraderForum’s buy side head trader members will hear “elevator pitches” from a group of financial technology startups who are bringing these technologies to bear on trading, portfolio construction and research.
APRIL 22-25, 2018 BOCA RATON, FL
Rob Hegarty moderated a panel “Reaping the Benefits of Technology Disruption” at BNY/Eagle Engage 2018. The panel addressed how to harness the vast amount of data coming at us every day, take advantage of the power of AI and Machine Learning, deploy practical uses of RPA, and how they're responding to the disruptive forces of emerging FinTech players.
APRIL 6, 2018 BOSTON, MA
Rob Hegarty presented "Trends at the Intersection of Financial Markets, Technology, and Data" to the Boston Asset Management CIO Roundtable. The presentation and discussion covered the major trends defining the future of investment management, and how emerging technologies and the evolution of data are dramatically changing the industry.
JANUARY 19, 2018 MIAMI, FL
Rob Hegarty was a panelist on "Foreign Exchange: New Regulation, New Players, New Structure" at Institutional Investor's Trader Forum -- a private association of Head Traders at the world's leading buy side firms. The panel debated how FX market participants are facing new waves of regulation, including the new code of conduct and MiFID II.
OCTOBER 25, 2017 BOSTON, MA
Rob Hegarty moderated the keynote panel at this dinner event hosted by Booz Allen Hamilton’s Financial Crimes group. Senior executives from throughout the Boston area AML, fraud, cyber and compliance communities came together to discuss the growing opportunities, threats and challenges related to the convergence of these domains in the asset management, wealth management, and other financial services sectors.