Trade Surveillance for Energy Trading Firms New York
In this Risk Training event, following incredible feedback for our highly successful event last October, day one will look at the current state of trade surveillance and market compliance. Attendees will discuss what trade surveillance is and the tools of the trade before hearing a case study on trade surveillance integration.
Following successful courses in Houston, Risk Training is excited to be bringing the Trade Surveillance and Market Compliance for Energy Trading Organizations event to New York for the first time this September!
By the end of the two days, you will have a new or improved knowledge of:
- The current state of trade surveillance and market compliance and how the need and demands are evolving with today’s regulatory state
- The role of compliance and best practice approaches to creating and monitoring compliance frameworks
- How MiFID and MAR are important for commodity market participants in the US and how to leverage on bank experiences
- Operational efficiency and how it can enable real time monitoring and reduce costs
- How to correctly collect and use your data and the various technological options available to energy traders
- How trade surveillance relates to eComm surveillance and eComm surveillance solutions
Day one will begin with an overview of the current state of trade surveillance and market compliance, before a session delving into exactly what trade surveillance entails. Next will be an overview of the growing role of compliance and provide attendees with best practice approaches to creating compliance frameworks. The day concludes with a discussion on MiFID and MAR and what these regulations mean in the commodity market.
Day two will continue with a case study on key considerations to keep in mind when building a trade monitoring program, and look at how to reduce costs and gain operational efficiency. Data will be looked at, with an overview of the various options available. The course finishes with a discussion on trade surveillance vs eComm surveillance and how these interact.
- An overview of the current state of trade surveillance and market compliance with a comparison of US vs EU regulatory requirements
- Learn about the growing role of compliance within trade surveillance and how to monitor, report and improve your frameworks
- Understand the scope, challenges and opportunities bought about by MiFID II & MAR
- A case study providing best practice approaches for the considerations of building a trade monitoring program
- Gain a thorough understanding of the current technology options available and an overview of data strategies for capture, centralizing and the use of various systems
- Find out about the relationship between trade surveillance and eComm surveillance and how to monitor and analyse this
Who Should Attend?
This course is primarily aimed at those working in the energy industry that engage with their company’s trade surveillance. The compliance function, governance individuals and traders are likely to find this course particularly useful, however Risk welcomes anyone who would benefit from this training. Specific job titles may include but are not limited to:
- ETRM manager
- Energy trader
- Risk manager
- Compliance and governance
- Governance officers and managers
- CTRM manager
- Trade surveillance
- Trade control
- Policy officer
- Regulatory officer
Dynamic Commodity Management
Director, Division of Analytics and Surveillance
Sean Collins, Director, Division of Analytics and Surveillance, FERC
SEAN K. COLLINS is the Director of the Division of Analytics and Surveillance (DAS) within the Office of Enforcement (OE) of the Federal Energy Regulatory Commission. He has previously held the position of Deputy Director of DAS. Prior to the formation of DAS, Mr. Collins lead a team within OE that performed detailed market, portfolio, and statistical analysis related to the identification, investigation, and prosecution of market manipulation and other potential violations of federal energy laws. Prior to joining the Commission, Mr. Collins worked for KPMG, LLP, Marsh Risk Consulting and Arthur Andersen advising the management of electric and natural gas utilities in the areas of trading, risk management, mergers and acquisitions, regulation and compliance, and process improvement. Mr. Collins holds a BA in Economics from Hampden-Sydney College and an MA in Economics from The Pennsylvania State University.
Chief Risk Officer
Glen E. Mackey is Chief Risk Officer of NRG Energy. He is responsible for overseeing the company’s governance, risk management, trade compliance, cash management, insurance, retail costing and structuring.
Mr. Mackey also serves as a an adjunct professor in Applied Mathematics at Rutgers University, a member of the CFTC's Market Risk Advisory Committee, and board or advisory member for related energy firms.
Mr. Mackey holds undergraduate diplomas in accounting and finance respectively. He also holds a master’s degree in business administration, all through western schools.
Prior to joining NRG in 2011, Mackey held senior commercial and commodity management positions, in agriculture, energy and financial services sectors with KPMG, Nexen, EnCana, Duke Energy Marketing, Koch Energy Trading, Engage Energy, NGX, and TD Bank.
Vice President of Market Operations
East Coast Power & Gas LLC
Udit Patel is the Vice President of Market Operations at East Coast Power and Gas. East Coast Power and Gas is one of the largest retailers of Electricity and Natural Gas throughout New York, New Jersey and Delaware. He is responsible for all physical ISO transactions, hedge performance, strategy and renewable projects development. He has worked for several companies building his skills in generation design & commissioning, M&A due diligence, Market monitoring & compliance, resource planning, Electric Supply and scheduling. Over the years, he developed his understanding of the Electric Industry by working for an EPC firm, market operating, utility and retail company. Along the way, he got the opportunity worked with a diverse group of energy professionals ranging from field technicians, engineers, economists, traders and marketers.
Mr. Patel has strong record of managing scheduling for over 2,500 MW of PPA contracts, 1,012 MW of Generation assets and 292 GW of demand annually. He specializes in driving ISO operations for nuclear, combined cycle, combustion turbine and cogeneration technologies. In addition to daily generator scheduling operations, he was also responsible for managing NYISO Capacity purchases for a 2500 MW monthly portfolio. He also provided regulatory support within ISO stakeholder process across various working groups. His trading experience combined with planning and M&A due diligence experience has driven him to towards a holistic decision making approach in accomplishing operational efficiency across physical and financial transactions.
Eddie Cogan is the CEO and founder of Catelas, a Machine Learning based Surveillance & Investigation software platform. Catelas’ patented technology allows it to automatically understand how firms do business and to then measure the risk inherent in that – whether it be FCPA/bribery, fraud, insider threat, market manipulation, insider trading etc.. An Engineer by training, Eddie has spent the last 20 years developing technologies that help businesses understand risk holistically. Mr. Cogan graduated from University College, Cork, Ireland with a degree in Electrical Engineering.