Defining Best Practice in Research Procurement

In November 2022 over 400 attendees from the buy and sell side joined us in London to debate how the research market will react to the discontinuation of the SEC no action relief, how innovation and consolidation among research providers will change supply dynamics, and how the increasingly data-driven investment functions will affect what is demanded from brokers and IRPs.

On June 14th 2023 we will reunite the North American investment research industry at the Metropolitan Club, New York – panels will cover how the end of the SEC no action relief will now play out, where corporate access has levelled out post-lockdowns, how a volatile market climate is affecting the external research and data that asset managers need to consume, and how budgeting and valuation has evolved as a result.

Attendance for confirmed buyside delegates is complimentary, and there are also a limited number of complimentary sellside places.

Speakers include:

Alex Andronov, Global Head of Business Development, HSBC
Douglas Christensen, Head of Capital Market Solutions, SS&C Tier1
Simon Edwards, Head of Business Development, BlueMatrix
Amrish Ganatra, Chief Executive Officer, Commcise
Lauren Giametta, Director, Research Management, BlackRock
Rebecka Grimsberg, Global Research Services Manager, Wellington Management
Robin Hodgkins, President, Castine LLC
Stuart Howard, Global Head of Research Relationships, Invesco
Howell Jackson, James S. Reid, Jr., Professor of Law, Harvard University
Brijesh Malkan, VP Product, Singletrack
Joshua Maxey, CMO & Co-Founder, Third Bridge
Michael Mayhew, Chairman, Integrity Research Associates
Mike McCarthy, Head of Global Research Support, Fidelity Management & Research
Rob Mohan, Managing Director, Wellington Management
Steve Moreno, Global Research Relationship Manager, Capital Group
Lauren Mullen, Executive Director and Assistant General Counsel, J.P. Morgan
Mark Pellegrino, CEO, CorpAxe
John E. Pflieger, Jr., Global Head of External Research Services, T. Rowe Price
Neil Scarth, Principal, Frost Consulting
Aniket Shah, Global Head of ESG and Sustainable Finance Research, Jefferies
Steve Stone, Partner, Morgan Lewis & Bockius LLP

Coffee & Registration
8.30 – 9.00 EST

Welcome: Mike Carrodus, Chief Executive Officer
09.00 EST

Panel I: The Evolution of the Research Budget
9:15 EST

Buy side firms are increasingly confident in their research valuation processes, which are now reflecting the changes in market climate and resulting changes in demand from their investment teams. What does the research budget look like in 2023, and how is the allocation of that budget and the consumption of research by asset managers changing?

Panel II: The Regulatory Outlook – Life after the SEC No Action Relief
10:10 EST

Of all the regulatory news that has hit the research market in the last few months, the discontinuation of the no action relief covering hard dollar payments from Europe to US brokers is the one that will fundamentally impact the market. Almost 8 months on from the SEC’s surprise announcement, and with 4 months to go before the deadline, there is still no clear solution in place that buy and sell side firms can adopt now. Which options are available and viable? What does a firm’s choice of approach depend on? How does this all affect wider discussion on the future of research funding and payments?

Coffee Break
11:00 EST

Panel III: The Research Product
11:30 EST

Market volatility in 2022 is giving the post-lockdown model of packaging and delivery of research a thorough stress test. As pricing in this market stabilises and perhaps even begins increasing again for some providers, asset managers increasingly forensic assessment of the value of their analysis and services is ensuring clear winners and losers. And the buy side’s focus on data, plus ESG now driving asset gathering brings even more demands and potential opportunity for providers to increase their market share and gain new footholds. How can providers ensure they succeed in this market climate, and where is innovation being rewarded?

12:20 EST

Panel IV: The Integration of Research and Data
13:40 EST

Given that data and analytics are increasingly incorporated into alternative and long only managers’ internal processes, how is supply and demand for external research adapting to align with this trend? How have brokers adapted and repackaged research for their clients’ more data driven approaches, and how is the buy side delineating research and market data budgets given this overlapping trend? Research budgets have decreased whilst data budgets keep growing, but is this an ongoing trend for the long term?

Coffee Break
14:30 EST

Panel V: Corporate Access in a Post-Lockdown World
15:10 EST

As we emerge from lockdowns it feels like everything and nothing has changed. The sell side has reasserted its role as a key intermediary, while virtual interactions have emboldened many buy side firms to contact and communicate with companies directly. On the other hand, virtual meetings have completely changed people’s propensity to travel, and there is now a forensic focus on which engagements need to be face to face. What differentiates the sell side’s corporate access services in the new hybrid world? If more asset managers are going direct how are they doing it and what is the feedback from corporates? If you aren’t a large long only then how should you approach your corporate access program in order to ensure your investment process still works in 2022? How are corporates approaching their IR differently now, and what would help them most from brokers and the buy side?

Panel VI: Research Valuation – How aligned are Buy and Sell Side processes?
16:00 EST

How do buy and sell side research valuation processes compare when you look at them in detail? How can they become more aligned to ensure providers invest in areas that deliver the greatest value? How close are both sides to agreeing on one set of data to define how valuable each relationship is to both parties?

Cocktail Reception
4:50 EST