CBOE, CME and Morningstar Industry Forecast; Plus Historical Perspective (Ended)
Presenter and Moderator: Dave Baeckelandt, "Chicago's Financial Firsts"
William J. Brodsky, CBOE Holdings, Inc. and Chicago Board Options Exchange Chairman and Chief Executive Officer
Bryan T. Durkin, CME Group Chief Operating Officer
Don Phillips, Morningstar President of Fund Research
Date, Time, and Location:
Thurs., Aug. 16, 2012
4:00 - 7:00 pm
Chicago Club, 81 E. Van Buren St., Chicago IL
Financial Innovation: The Past and Future in Chicago
While New York has long been hailed as the financial capital of the world, it has not been the only source of financial innovation. As Dave Baeckelandt will outline, Chicago can claim a place in the first ranks for financial innovations in derivatives, investment banking, real estate, investment management, insurance, and a slew of other financial disciplines.
Chicago's innovation is not just a thing of the past. Following a brief break, our panel will share some of their insights on the past and provide some projection on potential future financial innovations.
You will learn:
- The direction of efficient/inefficient market research over the next 10 years.
- Impact of globalization, electronic trading, quantitative strategies on Exchanges.
- Future changes to portfolio construction, mutual fund rating, risk management.
- New investment structures, hedge funds, ETFS, actively managed ETF, new quantitative models.
- Evolution of financial markets in the future.
Members - $45
Non-Members - $55
Student-Members - $20
(payable by cash, check, credit card or function ticket)*
Attire: Business Casual
Menu: Refreshments and light appetizers
For Reservations: Register online below, or by phone: (312) 251-1301
4:00 - 4:30 pm - Registration and Networking
4:30 - 5:15 pm - Presentation of "Chicago's Financial Firsts"
5:15 - 5:30 pm - Break
5:30 - 6:30 pm - Panel Discussion of "The Future of Financial Innovation in Chicago" and Q&A
6:30 - 7:00 pm - Networking (with refreshments and light appetizers)
CFA Institute Qualified Activity: Eligible for 1.5 credit hours
Hosted by: Education Advisory Group
Director, Sales & Marketing - Segall Bryant & Hamil
David Baeckelandt (MA, Early Modern Japanese History, University of Illinois, 1988) is Director, Sales & Marketing at Segall Bryant & Hamill (SBH). SBH is an $8.5 bn AUM Chicago-based investment management firm whose top decile performance in Small Cap U.S. equity and U.S. Core Fixed Income strategies has garnered attention from foreign and U.S. pension plan sponsors.
Prior to joining SBH in 2009, Baeckelandt was a Principal and the U.S. Business Leader for the Analytics and Research Group at Mercer Investment Consulting. Still earlier (1994-2002) Baeckelandt set up and ran the Japan business of investment manager William Blair & Co. This was the first foreign, duallicensed, investment advisory firm in Japan. Baeckelandt began his career selling investment management services to Japanese transplants in the U.S. for the predecessor banks of Mitsubishi UFJ (1988-1994).
Baeckelandt has spoken on subjects connecting history and finance as an invited speaker at U.S. and Japanese universities (Northwestern's Kellogg School, University of Chicago's Booth School, Indiana's Kelly School, Konan University, and others), collectors' clubs (Chicago Coin Club, International Bond & Share Society, Midwest Numismatics, etc.), non-profits (The AKAMAI Foundation, The Japan America Society) and foreign affiliated groups (The Flanders DC Club, The Belgian Club of Northern California, The Belgian American Club of Chicago, The Belgian American Association, De Orde van den Prince, etc.).
Baeckelandt has published more than three dozen articles on the nexus of finance and history (primarily in The Journal of Financial History, Scripophily, Paper Money , etc.). Separately, Baeckelandt recently published Japanese Financial Art, which offers an overview of the history of Japanese scripophily (stock and bond certificates). The proceeds of this book go to the Japan America Society of Chicago. Earlier, Baeckelandt published Hawaiian Financial Art, which explores Honolulu's history as a financial center and the contributions of the Hawaiian Islands to scripophily (proceeds donated to the AKAMAI Foundation). Baeckelandt's current work in progress is called Chicago's Financial Firsts, and is a survey of financial innovations that can be traced to Chicago.
A past Board member of several private companies in Canada, Japan, and the U.S., Baeckelandt is a current Board member of The Japan America Society of Chicago and Belgian Publishing Inc., and lives in Glenview IL with his wife and three children.
William J. Brodsky, Chairman and Chief Executive Officer
CBOE Holdings, Inc. and Chicago Board Options Exchange
William J. Brodsky is Chairman and Chief Executive Officer of CBOE Holdings, Inc. and the Chicago Board Options Exchange.
As Chairman and CEO of CBOE since 1997, Brodsky has overseen a period of tremendous growth as well as product and technological innovation at the exchange. He serves as the options industry's leading advocate in shaping market policy and regulation. In June 2010, he guided CBOE through its demutualization, whereby the exchange converted its business model from a membership organization to a for-profit public corporation, and the initial public offering of CBOE Holdings, Inc. stock.
In October 2008, Brodsky was the first leader of a derivatives exchange to be named as Chairman of the World Federation of Exchanges (WFE) and served in that capacity for 2009 and 2010. He previously served as Vice Chairman of the WFE from 2007 to 2008.
Prior to joining CBOE, Brodsky served for 15 years at Chicago Mercantile Exchange (CME), where he oversaw the launch of the CME Globex trading system and played a pivotal role in the development and globalization of stock index futures. He joined CME in 1982 as Executive Vice President and Chief Operating Officer and, in 1985, was named President and Chief Executive Officer, a post he held until joining CBOE in February 1997.
Brodsky began his career as an attorney in the securities industry with the firm of Model, Roland and Company in 1968. In 1974, he joined the American Stock Exchange (AMEX) where he became head of options trading in 1976 and served as Executive Vice President for operations between 1979 and 1982. He also served for seven years as the AMEX representative on the board of The Options Clearing Corporation.
Brodsky serves as a director of Integrys Energy Group, Inc, an S&P 500 company, and is chair of the Board of Directors of Northwestern Memorial Hospital. He is a member of the Federal Reserve Bank of New York's International Advisory Committee, the Council on Foreign Relations in New York City, and the Executive Committee of the Commercial Club of Chicago. He is also the former chairman of the International Options Markets Association (IOMA).
He serves on the Kellogg School of Management Advisory Council and as a trustee of Syracuse University. Brodsky holds an A.B. degree and a J.D. degree from Syracuse University and is a member of the Bar in Illinois and New York.
Bryan T. Durkin, Chief Operating Officer, CME Group
Bryan T. Durkin has served as Chief Operating Officer of CME Group since February 2010. He is responsible for the company's Products & Services, Marketing, Research & Product Development, Technology, Global Operations and Enterprise Solutions functions. He also oversees the company's global offices. Additionally, he is President of GFX Corp., a wholly owned subsidiary of CME Group that provides liquidity in foreign exchange futures. Previously, Durkin served as Managing Director and Chief Operating Officer since July 2007. He also led the global integrations following CME's merger with the Chicago Board of Trade (CBOT) in 2007 and CME Group's acquisition of the New York Mercantile Exchange (NYMEX) in 2008. Before joining CME Group, Durkin served as Executive Vice President and Chief Operating Officer of the CBOT. Prior to that role, he was in charge of the CBOT's Office of Investigations and Audits where he oversaw the audits, financial surveillance, trade practice and market surveillance self-regulatory and enforcement divisions for the exchange. His career with both CME Group and CBOT spans more than 25 years. Durkin holds a bachelor's degree in business administration and an MBA from Lewis University. He has been an adjunct faculty member of Lewis University's MBA program, teaching courses in organizational behavior and management. He is a member of the COMEX Governors Committee and a Director of the CME Group Community Foundation.
Don Phillips, President, Fund Research, Morningstar, Inc.
Don Phillips is president of fund research for Morningstar, overseeing research on mutual funds, exchange-traded funds, and alternative investments. He has also served on the company's board of directors since August 1999.
Phillips joined Morningstar in 1986 as the company's first mutual fund analyst and soon became editor of its flagship publication, Morningstar Mutual Funds, establishing the editorial voice for which the company is best known. Phillips helped to develop the Morningstar Style Box, the Morningstar Rating, and other distinctive proprietary Morningstar innovations that have become industry standards.
Journalists regularly turn to Phillips for his insight on industry trends. In 2011, PlanAdviser named him to the magazine's inaugural "Legends" list, recognizing five individuals who have made a significant impact on the retirement plan industry and the advisers who support it. MutualFundWire.com named Phillips to its list of the 100 Most Influential People of 2010, and in 2003, 2004, and 2010, Investment Advisor magazine named him to its list of the most influential people in the financial planning industry. He received an honorable mention in 2006. Financial Planning magazine named Phillips one of the planning industry's "Movers & Shakers" in 2003. In 2002, Registered Rep. named him one of the investment industry's 10 key players. In October 2010, Phillips received a Tiburon CEO Summit award with Joe Mansueto, chairman and chief executive officer of Morningstar.
Phillips holds a bachelor's degree from the University of Texas and a master's degree from the University of Chicago.
*Special Notes Regarding Fees:
Student rate only available to students approved as a Student-Member of CFA Chicago for 2012-2013. Regular and Affiliate Members may apply function tickets as payment for Non-member. Credit card is required to guarantee ALL reservations. No day-of-event pre-registrations accepted (on-site only, if applicable and space available). There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, Aug. 13.
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.