Jared Dillian
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The Liquidity Problem

Maudlin Economics Jared Dillian examines stock market liquidity.

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Separating Sara Lee—Deciphering the Taxation of this Highly Complex Spin-Off

In the world of corporate actions, the recent Sara Lee spin-off has been, by far, one of the most complex and daunting in years. Correctly deciphering the tax consequences of this event was a monumental task. Analyzing the taxability of corporate actions is further complicated this year by the need under the cost basis law for brokers to accurately factor in new IRS Form 8937 tax details to avoid significant penalties.

Please join us on Wednesday, September 12, at 2PM EST/11AM PST for a web seminar at which Wolters Kluwer Financial Services’ Capital Changes corporate actions experts John Kareken, JD, Tax and Regulatory Analyst, and Jon Mosier, Corporate Actions Tax Analyst, will help decipher this spin-off and the resulting tax consequences, including the impact of IRS Form 8937.

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HPC Solutions for Trading Firms

In some industries, speed is a luxury. In yours, it’s an absolute necessity. We get it and have the expertise to keep you in front of the competition. The right trade comes and goes in a matter of nanoseconds. And losing a trade means losing money. So it’s no wonder that firms like yours are investing in the fastest technology available to make sure latency stays as low as possible.

Get the answers you need to stay ahead at this essential webinar hosted by HP Specialist Lee Fisher and CDW’s Scott Hiemstra on August 8, 2012. Discussion topics will include:

  • CPU Utilization
  • Memory
  • Bio Settings
  • NIC Cards
  • Financial Stacks

Do you have a question about high performance performing you’d like our experts to answer? You’ll have the opportunity to ask it in advance when you register for this webinar.

CDW and HP join forces in this webinar to help you use IT to make your business stronger and your life a little easier.

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Three-Part Harmony: Creating One Office, Front to Back


  • Vernon Barback, President and COO, GlobeOp
  • Mieko Shibata, Managing Director, Technology Senior Director, JP Morgan Worldwide Securities Services
  • Peter Keaveney, Managing Director and Head of Investment Manager Solutions Americas, BNY Mellon Asset Servicing

From the chief executive officer to the trading desk to the billing department to risk management, financial services firms now must have a single, consistent record and view of every part of their business - and every transaction with every counterparty at all times.

The challenge: Making the complex needs of accounting and reporting simple while building a system that can remain cost-effective.

Firms are looking for:

  • Software, hardware and services that smoothly integrate information and processes in front, middle and back offices.
  • The advantages of cloud computing, with anytime, anywhere access to applications and data in a secure fashion
  • Reliable means of normalizing data, without duplication, migration or huge extraction and transformation projects being involved
  • Orchestrating the flow of information across the entire enterprise, to make sure it gets effectively used in the right places
  • Way(s) to provide a comprehensive, unified view of all client information across the enterprise

This Web Seminar will look at how different financial services firms have approached the problem, the solutions they found, the hurdles they overcame and the results achieved.

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Networking Trends in High Performance Computing for Financial Markets

CDW, a leading provider of technology solutions for the financial services industry, along with Solarflare, the company pioneering application-intelligent 10 Gigabit Ethernet (10GbE) networking hardware and software, and Arista Networks, a leader in ultra low-latency 10GbE and cloud networking solutions have partnered together to discuss the growing need for low-latency, high-performance 10GbE switch-to-server solutions for the financial markets.

The rapid expansion of automated and algorithmic trading has increased the critical role of network and server technology in market trading – first in the requirement for low latency and second in the need for high throughput – in order to process the high volume of transactions. Given the critical demand for information technology, firms active in electronic markets continue to invest in their LAN and WAN networks and server infrastructure that carries market data and trading information.

We will discuss:

  • High Performance Computing trends for 2013
  • Using the latest networking technology to help your firm process transactions faster
  • Benchmarking from Arista and Solarflare to help handle real-time market data

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Are you Ready for Phase 3 of Cost Basis Compliance?

The third phase of the cost basis reporting law requires coverage of debt and options. Although the effective date is January 1, 2014, per IRS Notice 2012-34, the complexities of covering these instruments create significant system implications that must be addressed now to be ready to comply on time.

On Wednesday, December 5th at 2PM EST, cost basis reporting law expert Stevie D. Conlon, Senior Director & Tax Counsel, Wolters Kluwer Financial Services, will delve into both the regulatory tax complexities and the resulting system implications that you need to fully understand to meet the requirements of the third phase of this law at this insightful web seminar.

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Incorporating alternatives into client portfolios

According to the latest Morningstar/Barron’s Alternative Investment Survey, investor interest is turning to alternative mutual funds and away from hedge funds.

Please join us for a Webinar on October 9th, where Direxion's Ed Egilinsky and Auspice’s Tim Pickering will shed some light on the reasons for the move toward liquid alternatives, along with a question and answer session covering:

  • The potential benefits and diversification characteristics of alternatives
  • Putting alternatives in perspective. A review of the managed futures and commodity markets over time
  • A critical look at different managed futures and commodity investment strategies and their effectiveness.
  • A brief overview of our funds, the Direxion Indexed Managed Futures Strategy Fund and the Direxion Indexed Commodity Strategy Fund.

If you’re seeking ways to employ alternatives to diversify your clients’ portfolios, increase their return potential, and provide a hedge against rising inflation, watch this informative web seminar now available on demand.

Edward Egilinsky
Managing Director and Head of Alternative Investments
Tim Pickering
Founder, President and CIO

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Avoiding the looming catastrophe

Meeting the cost basis reporting law phase 3 coverage of debt and options presents the most difficult tax rule, data and system challenges yet. As a result, delays in completing development, interdependent components and possibly multiple vendors significantly increase both the risk that brokers will not be ready to meet regulatory imposed deadlines—resulting in the embarrassing delivery of late or corrected Form 1099s, and the risk of significant tax penalties.

Avoid the Looming Catastrophe

Join us for this insightful web seminar at which cost basis experts Stevie D. Conlon, Senior Director & Tax Counsel, and Tim Gagne, Senior Technical Product Manager, Wolters Kluwer Financial Services, dove into the regulatory tax complexities and the significant data & system implications that must be fully addressed to meet the phase 3 requirements of this law on time, including:

  • New required calculations for debt securities;
  • New debt instrument segregation requirements; and,
  • New tax rule required data.
Tim Gagne
Senior Technical Product Manager
Wolters Kluwer Financial Services
Stevie D. Conlon
Senior Director & Tax Counsel
Wolters Kluwer Financial Services

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Corporate action taxability of the ‘Fourth Kind’—challenges booking events when companies move offshore

Are you accurately booking the taxability of the corporate action inversions resulting from U.S. companies moving offshore?

The increase in the number of U.S. companies becoming foreign corporations through reorganizations to reduce tax obligations is resulting in some significant corporate action tax reporting challenges. Unlike the more typical booking as nontaxable, taxable gain or loss, and taxable gain (but not loss) categories, offshoring often results in ‘inversions’— a strange sort of hybrid that could be thought of as “Taxability of the Fourth Kind.”

Please join us on April 24th for this insightful web seminar— Corporate Action Taxability of the ‘Fourth Kind’—Challenges Booking Events when Companies Move Offshore, at which Wolters Kluwer Financial Services’ experts including Stevie D. Conlon, Senior Director & Tax Counsel, John Kareken, Senior Tax & Regulatory Analyst, and Jon Mosier, Tax & Regulatory Analyst, Form 8937 Specialist will delve into key types of events that create these "fourth dimension" kind of tax challenges and what you need to do to capture essential taxability information for cost basis reporting compliance.

Stevie D. Conlon, J.D., CPA Senior Director & Tax Counsel, Wolters Kluwer Financial Services
John A. Kareken, J.D., Senior Tax & Regulatory Specialist, Wolters Kluwer Financial Services
Jon Mosier, J.D., Tax & Regulatory Analyst, Form 8937 Specialist at Wolters Kluwer

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Understanding Liquidity Risk Exposure in Real Time

Banks of all sizes have an immediate need to understand and proactively manage their liquidity risk exposure in real time predict exposure in a myriad of potential situations as well as respond to changing regulatory requirement. The subject of liquidity risk is a topic of relentless study and analysis and all of the research confirms the need for banks to be able to have the right solutions to address this challenge. This is your chance to hear from industry experts from IDC and Ernst & Young discuss the challenges facing today’s banks and the solutions being developed to address those challenges.

Join this one hour web seminar to learn how an analytic solutions can help banks of all sizes gain a firm understanding of their liquidity risk exposure in real time.

During this event we will discuss:

  • The growing need to proactively address liquidity risk exposure
  • Be able to understand not only your current risk exposure but understand potential exposure in the future
  • Classify exposure to address regulatory requirement in different jurisdictions
  • An overview of some of the solutions available today to address these challenges

Speakers: Michael Versace, Research Director at IDC Financial Insights
Peter Marshall, Principal Treasury and Liquidity Advisory Leader for Ernst & Young
Ted Luchsinger, Financial Services Industry Principal, SAP

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"Large Trader Reporting" and STA's 2012 Regulatory Dashboard

With the April 30, 2012 "Large Trader Reporting", ("LTR") compliance deadline approaching, please join us for a complimentary web seminar, where LTR and other regulatory issues in the coming year will be discussed.

STA’s CEO & President will present a high-level summary of our organization’s principal regulatory issues in 2012. Also, participating in this web seminar will be Manisha Kimmel, Executive Director of Financial information Forum, FIF, who will provide an update on the implementation of LTR including:

  • Large Trader Reporting impact on Buy-Side and Sell-Side
  • Large Trader FAQs
  • Electronic Blue Sheets record layout changes
  • FIF Requests for Relief on LTR

In their presentation, both speakers will also address the implications LTR will have on the much anticipated Consolidated Audit Trail (CAT).

Trading desk managers, compliance personnel, as well middle and back office employees at buy and sell side firms should strongly consider attending. In addition, non self clearing firms and firms in sponsored access arrangements will want to be informed.

FLASHBACK FRIDAY: A Buttonwood Tree Grows in Mahwah

Is there a profitable future in the co-location business? Turn the clock back almost a decade and the exchanges were busy trying to find newer ways and places to conduct trading operations. Sure, there'd still be traders, algorithms and data but not in Manhattan - rather they'd all be elsewhere - like the New Jersey suburbs.

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