8:00 Registration and refreshments

8:50 WELCOME ADDRESS: Eva Szalay, Editor, FX WEEK

9:00 CHIEF ECONOMIST PANEL: Deconstructing a paradigm - The breakdown of globalization?

  • The rise of the political economy - a return of economic nationalism and populism in G10 nations
  • Europe's hairline fractures - Brexit and the French elections' impact on the project
  • The dollar Trump-oline - fiscal measures and signs of a recovery in the US bode well for the greenback, but is that what the administration really wants?
  • Central banks and currency wars - the weaker the better?
  • Pricing uncertainty - mounting geopolitical risks and lows in the VIX
  • The path ahead - main opportunities and priorities for 2017

Moderated by Lena Komileva, Founder and Chief Economist, G+ ECONOMICS
Christopher Probyn, Chief Economist, STATE STREET GLOBAL ADVISORS
Stephanie Flanders, Chief Market Strategist, Europe, JP MORGAN ASSET MANAGEMENT
Kristina Hooper, Global Market Strategist, INVESCO
Further speakers to be confirmed.

9:45 GUEST ADDRESS: The Global Code of Conduct

Simon Potter, Executive Vice President, Markets Group, FEDERAL RESERVE BANK OF NEW YORK

10:05 IN THE SPOTLIGHT: The battle for liquidity provision

  • Are all bank and non-bank liquidity providers equal?
  • Open for risk -risk warehousing: whose job is it today?
  • Evaluating execution quality - is toxic flow toxic from the start? 
  • Last look and market making - the crutch that needs throwing away?
  • Credit and liquidity provision - will NBLPs reach real-money clients/non-spot contracts?
  • The big banks - can they dominate market making again?

Isaac Lieberman, CEO, ASTON CAPITAL
Further speakers to be confirmed

10:55 Morning break and opportunity to network

SPEED NETWORKING: Who's who in the FX market?
During the morning break, delegates will have the opportunity to meet and exchange contact details in this specially designed networking session. The main purpose? Share your professional background and business goals with other industry experts and expand your network in the process.

11:25

STREAM 1

FX Trading, Technology And Execution

STREAM 2

FX Investment And Strategy

 

 

CHAIRMAN’S OPENING REMARKS

CHAIRMAN’S OPENING REMARKS

11:30

 REGULATORY Q+A:
Part One: Adapting to the final phase of the Global Code of Conduct

  • What does good conduct look like and what do principles actually achieve?
  • In what ways will adherence be monitored? Best practice for implementing successful surveillance systems and introducing better conduct training
  • Given that the market is no longer insular, what more can be done to help firms measure their practices against their peers and share such experiences on a global scale?

Part Two: Rolling back Dodd Frank

  • Are the rules implemented under Dodd Frank fulfilling their purpose?
  • Through the looking glass- what would a post- Dodd-Frank world look like and how would it impact liquidity conditions in the FX market?

Moderated by Eva Szalay, Editor, FX WEEK
David Puth, Chairman, MARKET PARTICIPANTS GROUP
Victoria Cumings, Managing Director, Americas, FX Division, GFMA
Allan Guild, Global Head of FX and Commodities Regulatory Change, HSBC

11:30 CURRENCY WAR GAMES:

Led by a team of currency strategists at a top-tier bank, delegates will be tasked with formulating an investment strategy that would help them navigate three scenario-based major shifts in the market.
In small groups, each team must come up with a plan to combat each scenario and share their investment strategy with the other participants.

Hypothetical scenarios to be revealed on the day!

Speakers to be confirmed.

 

12:15

PANEL: The Fragmentation of Trading Paradigms

  • Counterparty diversification - is it worth it?
  • Measuring outcomes - the role of venues and analytics
  • Third-party vs independent TCA - what's the difference?
  • The cost of rejects and mark-ups - can they be measured?
  • The role of real-money - the fiduciary headache
  • Analytics - TCA, execution quality and LP behaviour

Speakers to be confirmed

CURRENCY WAR GAMES CONTINUED

 

12:55

IN THE SPOTLIGHT: eFX since 2012- A look back at the trends of the past five years
Interview led by Eva Szalay, Editor, FX WEEK
Gil Mandelzis, Former CEO at EBS-Broker Tec, INDEPENDENT CONSULTANT
Phillip Weisberg, Former Global Head of FX, Rates and Credit at Thomson Reuters, INDEPENDENT CONSULTANT

12:45 CIO PANEL: Trading the currencies above in practice

  • How are leading CIOs managing EM, RMB and LatAm currencies in practice?
  • Who are the winners and the losers in the new world order?
  • Taking an idiosyncratic approach- what instruments are available in each country to hedge out currency volatility tail risks?
  • As activity and uncertainty grows in the market, which trade ideas will work on a 1+ year horizon?

Sinead Colton, Head of Investment Strategy, MELLON CAPITAL
Ulf J. Lindahl, Chief Executive Officer and Chief Investment Officer, A.G. BISSET ASSOCIATES
Further speakers to be confirmed

1.25 Lunch and opportunity to network

MEET THE SPONSORS:
Put your questions to this year's sponsors over lunch at your discretion. Gain a thorough understanding of how these key solution providers differentiate themselves to decide on the most suitable partner for your business.

2:15 KEYNOTE Q+A: In Re Foreign Exchange Benchmark Antitrust Litigation - Where The Case Stands Now And Where Is It Heading?

  • What have been the biggest findings from the In Re Foreign Exchange Benchmark Antitrust Litigation case?
  • Progress report on where the case stands now
  • To what extent do you think the Global Code of Conduct will uphold conduct and best market practice?
  • How likely is it that more banks will be implicated in last look action?

Exclusive Q+A with:
Michael Hausfeld, Chairman and Founder, HAUSFELD LLP
Christopher Burke, Attorney and co-lead counsel in In Re Foreign Exchange Benchmark Antitrust Litigation, SCOTT+SCOTT
Peter Kilbinger Hansen, Chairman, BATTEA
Interview led by Eva Szalay, Editor, FX WEEK

2:55 PANEL: The evolution of Prime of Prime

  • Differentiating between various PoP offerings
  • What does a good PoP risk management framework look like?
  • When will the gap between direct prime brokerage costs and PoP costs narrow?

Peter Plester, Head of FX Prime Brokerage, SAXO MARKETS
Further speakers to be confirmed.

3.35 Afternoon break and opportunity to network

3:55 EXECUTIVE PANEL: 2017- The year of clearing?

  • Is the credit landscape in a better shape than last year and what has driven this change?
  • The decoupling of credit and execution- next steps?
  • Will there be a solution for options clearing by the end of 2017?
  • Are there cheaper ways to clear?
  • Where should money be spent- the move towards clearing or complying with regulations?
  • Debate: Should FX be cleared?

Speakers to be confirmed

4:35 CHAMPAGNE ROUNDTABLES

1. Autonomous learning strategies to trade FX

  • How are FX managers using non-traditional, non-financial, unstructured data and data science?
  • In what ways are FX managers using machine learning techniques?
  • How can FX managers differentiate themselves via research or other edges?

Led by Adil Abdulali, Senior Managing Director, PROTÉGÉ PARTNERS

2. The Impact Of Non-Cleared Margins

  • How will forthcoming margin requirements affect the way the industry interacts with central counterparties?
  • How realistic are the capital benefits associated with clearing? Is self-clearing a potential option?

3. Creating A Market Reference Rate And The FX Central Tape

  • What is the FX Central Tape seeking to achieve
  • What are banks' main reservations about the FX Central Tape and how can they be overcome?

4. Legacy Technology And The Future Of Blockchain In FX

  • What impact will compliance costs (with Mifid II and the Code of Conduct) have on legacy technology?
  • Exploring blockchain's applicability- how can it be deployed successfully in the FX market?
  • At which stage(s) in the trade-life cycle can blockchain be applied most practically?

5. Are We Witnessing The Death Of Last Look?

  • With the increasing demand for commercial transparency around last look, can the practice withstand ongoing regulatory scrutiny?
  • Is last look necessary for banks to be able to provide best price?
  • Does last look impede ‘fair market' conditions or is it an open and fair practice?

5:00 QUICK FIRE SUMMARY:
The nominated leader of each roundtable has 2 minutes to share the 3 key takeaways from their roundtable discussion!

5:15 CLOSING REMARKS: Eva Szalay, Editor, FX WEEK

5:20 Cocktail reception

6:30 e-FX awards and formal dinner