Conference Dailys TRADETech FX Daily 2018 | Page 31

15:00 Track A: Capitalising On The New Era of Transparency Chaired By: Michael Melvin, Academic Coordinator, Rady School of Management, UCSD, Former Managing Director, BlackRock

15:00 Best Execution Panel: What have been the successes and failures of building a MiFID II best execution policy and how can you establish best practice processes and TCA around it? Alex Smyth, Head of Trading, Florin Court Capital Michael Dawson, Head of Liquidity and FX, Shell Christoph Hock, Head of Multi-Asset Trading, Union Investment Ronald Lagarde, Senior Forex & Derivatives Trader, APG Asset Management Jill Sigelbaum, Head of FXall, Thomson Reuters How do you ensure process efficiency and that your policy is explicit enough? How have you and are you continuing to adapt your resourcing to match up with best execution needs? TCA in house vs TCA outsourced – what are the arguments for and against and what is actually working for the buy side? And are there concerns over the independence of TCA data – how can you overcome these? Smart analytics – how you can gain cutting edge pre and post trade data insights for a trading desk to maximize transparency and better understand when and where to trade? What are the best ways of recording trader rational? The practicalities of MiFID II reporting requirements- Outlining exactly what your RTS 28 obligations are and how you can best meet them Where is the investment in new technology going in order to focus trading resources where they are truly needed?

15:30 Industry Perspective: The case for outsourcing – why brokers are turning to third parties for support in running their trading operations Nasdaq, Speaker TBC Market structure changes- Regulatory complexity- Increasing number of fines MiFID II – new obligations for MTFs, OTFs Sis( transaction reporting, pre-trade transparency, surveillance monitoring)- Increasing cost of operations- Constant investment in R & D and technology to remain competitive- Cost of ensuring compliance

15:50 IN CONVERSATION: Are capital efficiencies in clearing driving changes in market structure away from prime brokers and towards exchanges and clearing houses? Paddy Boyle, Head of ForexClear, LCH Marcus Butt, Global Head Prime Services & Futures, NatWest Markets With the introduction of uncleared margin rules( UMR) and variation margin rules( VMR) with EMIR in 2017, is it now more efficient to push more FX products towards voluntary clearing? With ongoing challenges around balance sheets, collateralization, leverage ratio, uncleared margin rules and increased costs around infrastructure, is the FXPB model still viable? What are the current stances of the CFTC and the EU on NDF clearing and what timetables are in place for clearing?

16:20 Afternoon Refreshment Break

Conference Tracks

Conference Tracks

Track B: Exploiting New Currency Market Trends Chaired By: Thanos Papasavvas, Founder & CIO, ABP Invest, former Strategist and Head of Currency Management Investec Asset Management and Credit Suisse Asset Management

15:00 360 ° Perspective: Predicting the top 3 geopolitical hotspots and their influence on global FX markets – is uncertainty set to continue in 2018 and 2019? David Nowakowski, Multi-Asset Strategist, Aviva Thomas Wind, Executive Director, Head of Foreign Exchange & Trading, Woodman Asset Management Nigel Rogers, Founding Partner & Head of Trading, Adrian Lee & Partners With heightened political risk in both developed and emerging markets, what impact does this have on FX markets? What are the drivers of the renminbi? What does President Xi wish to achieve, and what are the implications for investors? What are the major opportunities and investment drivers in Latin America? With many central banks shifting into tightening mode, how“ normal” will the new normal look?

15:30 Fireside Chat: Why Derivatives matter; using FX derivatives to add value

Kokou Agbo-Bloua, Global Head of Flow Strategy Solutions, Societe Generale Yield enhancement using derivatives FX hedging- What different strategies can you undertake using options to minimize you hedging costs? Cross Asset Derivative solutions Practical solutions to implement use of derivative and new product developments

15:50 Fireside Chat: How should and are Central Banks intervening in the FX markets, and how is their influence growing? Guy Verberne, Chief Economist, PGGM Investments David Nowakowski, Multi-Asset Strategist, Aviva Central bank policy convergence- With the ECB winding down their Quantitative Easing programme what impact will this have on the euro? Examining the growing influence of central banks – are they playing a bigger role in the FX market and in financial markets generally, and is this going to continue to increase and at the same speed? How effective have central banking policies been- have they had the desired impact to improve the economy? With many Central Banks reversing recent policies, is there a limit to how far monetary policy can go?

Workshop

TCA Deep Dive Open to a maximum of 20 buy side delegates

15:00 – 16:20 Synergy Workshop: Beyond TCA Hosted By: Roel Oomen, Global Co-Head of Electronic FX Spot Trading, Deutsche Bank How to apply the latest data science techniques to optimize liquidity access and increase execution efficiency. How to go from measurement to effective decision making to optimise your liquidity access A review of practical real-life case studies that highlight common pitfalls and demonstrate the power of rigorous data science in execution optimisation.

Buy Side Only Think Tank

16:50 16:50 360 ° Perspective: How can the buy side and O / EMS providers work more in collaboration and bridge the gap between where we are and where we should be? Jasper Steger, Senior Investment Manager, MN Isaac Lieberman, CEO, Aston Capital Management FlexTrade, Speaker TBC How can the industry ensure that front office technology is best meeting the needs of the asset management industry? Is a multi-asset O / EMS that meets current buy side needs possible in the near short term? Or should you use a product specific OMS due to the fragmentation of markets and nature of liquidity? What do the buy side truly care about when it comes to O / EMS requirements, where providers should be focusing their efforts – is it millisecond pricing or the ability to efficiently report execution?

17:20 IN CONVERSATION: Next generation algos – how is algorithmic being improved by the use of AI, machine learning and advanced technology? Andreas Anschperger, European Head of Foreign Exchange Trading, Allianz Global Investors Danielle Caravetta, Director of Global Sales, Pragma Christian Gressel, Executive Director, Global Head of Electronic Sales Trading, UBS From best to smart execution – how can you enhance your algo capabilities beyond first and second generation algos? Evaluating the merits of agency, principal, and hybrid algos Self-adapting and advanced learning algos – how can you incorporate them into your FX workflow? Moving towards the‘ super algo’: Is machine learning – or AI more broadly – a holy grail for investment, merely a new, advanced gizmo to supplement your existing toolkit, or is it simply a case of clever marketing?

16:50 Panel Discussion: What are the best strategies for FX Portfolio Managers to tackle a post MiFID II world and support their execution desks? Henrik Pedersen, Senior Portfolio Manager, Credit Suisse Asset Management Thomas Wind, Executive Director, Head of Foreign Exchange & Trading, Woodman Asset Management With many buy side firms leaving the implications of MiFID II primarily to the trading desk, FX Portfolio Managers can have limited understanding of what it means for them – how does MiFID II specifically impact the portfolio management function? What aspects of best execution do Portfolio Managers need to get involved in, and how can they best support their execution desks to ensure compliance? How does MIFID II affect doing trades using tools such as Bloomberg chat? Does it need to be more electronic now?

17:20 Oxford Style Debate: True or False- Independent research providers will eventually take the place of sell side research in an unbundled world Panellists TBC What are the broader ramifications of changes to research payments for market participants and what does this mean for buy( and sell side) business models in an unbundled world? Have these changes improved or negatively impacted the quality of research data? Balancing the costs and risks of investing in in-house analysts as opposed to using independent research providers or traditional sell side providers – 9 months post-MiFID II, which way is the market trending?

16:50 – 17:50 Exclusive Invite Only Buy Side Think-Tank: How can the buy side better collaborate to drive mutually beneficial initiatives forward? Open to 15 Heads of FX Trading or Portfolio Management – Pre-registration is required Hosted By: Andrew Maack, Head of FX Trading, Vanguard Participants include: Christian Esposito, Executive Director, FX Trading, Goldman Sachs Asset Management; Richard Turner, Senior Trader, Currency Solutions, Insight Investment; Bhavesh Trivedi, Fixed Income Dealer, Old Mutual Asset Management; Stefan Brandau, Senior FX Trader, Deka; Garrod Treverton, Currency Director, M & G Investments

17:50 Chairperson’ s closing remarks: Michael Melvin, Executive Director, Rady School of Management, UCSD, Former Managing Director, BlackRock 17:55 Citadel Securities Sports Bar Drinks Reception

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