Program, FX Week USA, July 13, 2010, New York

8:15 Registration and breakfast

8:50 Welcome address: Saima Farooqi, Editor, FX WEEK

9:00 Keynote address: EM Central Bankers and capital flows: What can they do about it?

Regulatory issues FX professionals need to know
Lessons from the crisis
What lies ahead?

Herve Jacques Ferhani, Deputy Director, Monetary & Capital Markets, INTERNATIONAL MONETARY FUND

9:30 Panel discussion: Looking ahead- what is the future of FX industry

How the technology developments will change the FX industry
Identifying new market participants
New risk profiles

Moderator: David Poole, Chief Operating Officer and Principal, CLIENTKNOWLEDGE
Jake Rue, Head of Bank & Ecommerce Sales for FX in the Americas, NOMURA
Craig LeVeille, Director, FX Products, CME GROUP
Nicholas Solinger, Chief Marketing Officer, TRAIANA
Udi Sela, Foreign Exchange and Cross Asset Suite Product Manager, SUPERDERIVATIVES
Daniel S. Shaffer, President & CEO, SHAFFER ASSET MANAGEMENT

10:20 Morning break and opportunity to network

STREAM ONE
Best practices in trading FX

10:50 Chairperson’s opening remarks
Zohar Hod, Vice President, Strategic Sales and Business Developement, SUPERDERIVATIVES

11:00 Panel discussion: Regulatory updates and their implication for the currency market

June 2010, G7 meeting and forthcoming reforms
Implications of Volcker rule, hedge fund regulation, CFTC and the US congress rules
How sustainable is the current financial system

Moderator: Jon Levy, Analyst, Europe & Eurasia, EURASIA GROUP
Georges Pineau, ECB representative in the US/observer at the IMF, EUROPEAN CENTRAL BANK
Josh Levy, Managing Director, TACTICAL ASSET MANAGEMENT
Cynthia Tazioli, Head of Sales and Relationship Management, CLS GROUP

11:40 Presentation: Single versus multi dealer platforms and the search for global liquidity

Holden Sibley, Head of BARX Americas BARCLAYS CAPITAL

STREAM TWO
Forecasting the direction of currency movements

10:50 Chairperson’s opening remarks
Jonathan Webb, Head of FX Strategy, PRUDENTIAL BACHE

11:00 Presentation: Currency reserve growth shift and its meaning for the USD performance

Growth generated by countries pegged or quasi pegged to the USD has added to USD liquidity
Incoming currency reserves have been reallocated into other currencies with the EUR benefiting most
Asian currency reserve growth - less USD liquidity allocation into FX markets
Declining USD liquidity will have implications on volatility and carry trades

Hans-Guenter Redeker, Global Head of Foreign Exchange Strategy, BNP PARIBAS

11:40 Presentation: Emerging markets – tool for FX strategy diversification

Current challenges to diversifying portfolios
Focus on Renminbi
Where to invest next?
Electronic trading in emerging markets

Win Thin, Senior Currency Strategist, BROWN BROTHERS HARRIMAN

12:10 Panel discussion: Is prime brokerage still a viable business?

Evaluating the new structural changes of CCP
How will central clearing affect the current PB business model?
Post credit crisis – will the PB business decline or improve?
Will prime brokers become clearers?

Moderator: Erik Lehtis, President, DYNAMICFX CONSULTING
Dave Reid, Director, FX Prime Brokerage, CITI
Nathaniel Litwak, Head of Marketing FX Prime Brokerage, BNP PARIBAS
Jason Vitale, Global Head of dbClear FX - FX Prime Brokerage & Clearing, DEUTSCHE BANK

1:00 Lunch and opportunity to network

2:00 Panel discussion: The limits to the use of algo trading, price discovery and liquidity provision

Do short term systems provide liquidity or are they front-running orders and moving price away for legitimate business
Transaction cost analysis and its importance for measuring best execution. How to derive TCA in FX?
Algorithms designed to search for dark pools and SORS to provide the best price

Moderator: Irene Aldridge, Managing Director, Quantitative Portfolio Manager, ABLE ALPHA TRADING
Paul Buckley, Director & Head of AES FX Sales, North America, CREDIT SUISSE
Yaacov Heidingsfeld, Chief Executive Officer, TRADERTOOLS
Aiyana Currie, Director, FICC e-commerce, UBS

Stream One

2:50 Presentation: Key implementation considerations: Hedging in practice

Determining how frequently hedge positions should be evaluated against the changing values of the underlying assets
Understanding the importance of contract tenor
Balancing hedge perfection with the costs of trading

Jay Moore, Head of Currency Management, STATE STREET ASSOCIATES

Stream two

2:50 Presentation: Future of Euro post Greece

Fiscal divergence - identifying key risks and which countries to watch
The ECB's new world - the new realities facing the ECB, and how it will interact with fiscal authorities
The next inflation threat - changing views toward the ECB and the prospects for policy change
The new sovereign risk

Jon Levy, Analyst, Europe & Eurasia, EURASIA GROUP

3:20 Afternoon break and opportunity to network

3:40 Panel discussion: Best performing trading strategies in active currency management

Strategies to fit different risk profiles
Recent performance analysis
Hedging an active currency management
Cost effective active currency strategies

Moderator: Lynnelle Jones, Director, Client Services, HATHERSAGE CAPITAL MANAGEMENT
Jason Leinwand, Senior FX Strategist and Currency Unit Head, METLIFE
Ulf J. Lindahl, Chief Executive Officer and Chief Investment Officer, A.G. BISSET & Co.
Cynthia Steer, Chief Research Strategist, ROGERSCASEY
Caleb Wong, Vice President, Senior Portfolio Manager, OPPENHEIMER FUNDS, Inc.

4:30 Panel discussion: New developments and innovative technology in FX trading

Latest developments in algorithmic trading
New trends and practices in electronic trading
Identifying the opportunities and challenges brought by new technology

Moderator: David Poole, Chief Operating Officer and Principal, CLIENTKNOWLEDGE
Mike Thrower, Director, Banking Business Development, WALL STREET SYSTEMS
Tom Murphy, Head of Americas Derivative Sales, BLOOMBERG TRADEBOOK
Dan Torrey, Head of IEB New Business-Americas, ICAP
Stephane Malrait, MD, Global head of eCommerce, SOCIETE GENERALE

For enquiries about speaking at FX Week USA contact
Joanna Rejman, Senior Conference Producer
Tel: +44 (0) 20 7004 7459
Email: joanna.rejman@incisivemedia.com