Free places for qualifying buy-side delegates!

Program, July 12, 2016

8:00 Registration and breakfast

8:50 FX WEEK welcome address

9:00 OPENING KEYNOTE ADDRESS: Strengthening oversight in the global foreign exchange market through a global code of conduct

David Puth, Chief Executive Officer, CLS and Chairman, Market Participants Group, BANK OF INTERNATIONAL SETTLEMENTS

9:30 PANEL: Market making and prime brokerage - what's next in the evolution of buy-side liquidity providers

  • How dependent are non-bank players on prime brokerage?
  • Will banks take steps to protect their market making operations?
  • How does the changing relationship between sell-side and buy-side shape liquidity provision?
  • What do non-bank market makers need to do to ensure operations going forward?

Jamil Nazarali, Head of Execution Services, CITADEL SECURITIES
James Watson, Managing Director , ADS SECURITIES LONDON

Speakers to be announced.

10:20 Morning break and opportunity to network

 

STREAM ONE-FX trading & execution

STREAM TWO-FX investment & strategy

10:50

Chair's opening remarks

Chair's opening remarks

11:00

PANEL: e-FX execution in an increasingly complex market place

  • Liquidity, credit and counterparties - how to connect and how to decide
  • Quality of execution and TCA, last look vs firm prices -choosing the best fit
  • Options and derivatives - how electronic can contracts get
  • Regulation and its influence on trading decisions
Speakers to be announced. 

PANEL: Central banks and global growth- fashioning effective investment strategies against the backdrop of extraordinary monetary conditions

  • Where is the next growth story? Where to invest? Developing models capturing positive returns 
  • What central bank actions are likely to have a significant impact on your portfolio?
  • What impact would ‘helicopter money' have on markets and the global recovery?
  • What effect commodity prices have on currencies and investments?

Andreas Dische, Director, Head of Global Macro, OMERS CAPITAL MARKETS
John Espinosa, Managing Director, Global Public Markets, TIAA - CREF
Arnab Nilim, Portfolio Manager, Currency Strategies, ‎ALLIANCEBERNSTEIN
Eric Stein, Co-Director of Global Fixed Income and Portfolio Manager, EATON VANCE

11:40

PANEL: The credit conundrum - the role of prime of prime providers

  • How can clients access credit and liquidity
  • What happens to clients who trade non-spot instruments
  • Evaluating the types of PoP - differences between service providers 
  • The ideal fit - the relationship between PB, PoP and end client
Speakers to be announced. Please visit www.fxweekusa.com for more updates

PANEL: FX hedging strategies: Risk - reward dilemma in the EM

  • The EM world of complexities: Tackling lack of liquidity, high volatility and high interest rates 
  • Strategically important opportunities vs. high hedging costs 
  • How do you hedge currencies that are too expensive to hedge? What's too expensive and what's the risk?
  • Long exposure to the EM markets
  • Using the proxy hedge

Ken Chee, Portfolio Manager, International Equity and FX, STATE TEACHERS RETIREMENT SYSTEM OF OHIO
Nancy Davis, Managing Partner and Chief Investment Officer, QUADRATIC CAPITAL MANAGEMENT
Chung Ma, Portfolio Manager, Head of the Currency Management Team, VIRGINIA RETIREMENT SYSTEM 

Speakers to be announced

 12:20

SPECIAL ADDRESS: How new communications technology will change the financial services industry

Lawrence Miller, Executive Vice President, Global Technology, SYMPHONY

SPECIAL ADDRESS: Macroeconomics and currency speculation in the context of secular stagnation and low growth

Michael Ho, Senior Managing Director, Chief Investment Officer, Alternatives, STATE STREET GLOBAL ADVISORS

 

12:50 Lunch and opportunity to network

1:50 AFTERNOON KEYNOTE: From G3 to G4: China enters the currency fray

Rebecca Patterson, Chief Investment Officer, BESSEMER TRUST

2:20 PANEL: Transaction Cost Analysis (TCA) rebooted - a move towards standards

  • What efforts are underway to enable apple to apple comparison of execution? 
  • Where does innovation in TCA come from and what are banks doing to help clients?
  • Buy-side execution technology and algo adoption
  • Comparing algos with algos, firm vs last look liquidity and assessing the impact of fragmentation on execution quality
  • Putting the order under the microscope: What happens to the order during the order execution? How transparent is the process? How much does it cost?

Irene Aldridge, Managing Director, ABLE ALPHA TRADING

Speakers to be announced

3:10 Afternoon break and opportunity to network

3:40 EXECUTIVE ADDRESS: The global FX market - where we were, where we are, and where we are heading

Victoria Cumings, Managing Director - Americas, Global FX Division Global Financial Markets Association (GFMA)

4:10 PANEL: Regulatory update - milestones in the implementation process

  • Do banks have a profitable business model fit for the new regulatory landscape?
  • How far away are banks from full implementation and preparedness for new regulatory requirements?
  • How is the changing business model affecting clients? 
  • Comparing US and EU derivatives regulations - are we heading towards regulatory arbitrage?
  • Will there be areas where banks no longer want to be big in? Who will fill the gap?
  • Options and NDFs clearing: What are the timelines? How is it going to affect pricing? What are the pricing differentials for cleared and compressed trades vs. bilateral trades?
  • How will the FX industry change again when the real money starts being impacted by margin?

Jeffrey Bandman, Acting Director, Division of Clearing and Risk, U.S. COMMODITY FUTURES TRADING COMMISSION
Michael Brosius, Chief Compliance Officer, MIZUHO CAPITAL MARKETS CORPORATION

Speakers to be announced

5:00 Closing remarks

5:10 e-FX awards and cocktail reception

 

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