TradeTech FX Europe Daily 2026 | Page 30

Times may not be 100 % accurate – please check the event app for the most accurate schedule.

Day Two- Main Conference: Thursday 17th of September

10.45 Oxford- Style Debate: This house believes crypto will sit on the FX desk in the next 5 years- For / Against ** Held under Chatham House Rule- Positions taken by speakers are for debate purposes and do not necessarily represent personal or organisational views. ** Crypto’ s place on the FX desk remains deeply contested. Advocates argue that institutional participation, regulatory progress and maturing infrastructure make integration increasingly likely. Critics point to persistent valuation uncertainty, sharp volatility swings, immature market microstructure and unresolved settlement and counterparty risks. This debate tests both sides, challenging assumptions about crypto’ s trajectory within FX trading.

For: Toby Baker, Former Head of FX Trading, T. Rowe Price

Inside the Corporate FX Engine

11.15 Corporate Teach- In: How corporates operate: How corporate hedging and execution behaviour influences currency markets Corporate FX flows are shaped by internal structures as much as by market conditions, with execution behaviour differing significantly between centralised and more decentralised treasury models. This interactive session brings together two corporate perspectives to compare how exposures are identified, approved and hedged across different organisational setups. The discussion will walk institutional trading desks through practical differences in forecasting cycles, approval chains, execution methods( RFQ, streaming and algos), and how exceptions such as M & A activity or less liquid markets are managed. Designed to demystify corporate behaviour, clarify execution patterns and improve understanding of how corporate FX flows enter and move through the market.

Sylvie Soundaravelou, Head of Financial Markets Trading, TotalEnergies Amit Baraskar, Senior Vice President & Head of Treasury, Thomas Cook India Group Moderator: Allan Guild, Director, Hilltop Walk Consulting

TRACK A Track Chair: Allan Guild, Director, Hilltop Walk Consulting

12.00 Digital Assets Presentation( 101): Digital assets and FX: How to set up trading, infrastructure and controls to enable safe, scalable participation As digital assets move closer to institutional adoption, FX desks are increasingly being asked to evaluate whether- and how- they should engage. For teams new to digital assets, the challenge is not the instruments themselves but how trading activity fits within existing FX infrastructure, governance frameworks and day-to-day workflows. This session provides a practical, introductory overview for FX desks at an early stage of adoption. The presentation will cover core setup considerations, including execution models, EMS / OMS integration, connectivity to venues and liquidity providers, booking and post-trade workflows, and the role of risk, compliance and operational controls. The speaker will outline how firms are approaching these decisions in practice, what can be supported by existing FX systems, and where additional tooling or process changes may be required.

Liz Lawson, Lead Digital Assets Analyst, T. Rowe Price

12.20 Frontier FX 101 Interview: Cracking frontier FX: How to access liquidity and manage risk in hard-totrade markets? Frontier currencies are becoming increasingly relevant for global portfolios, yet remain some of the most challenging markets for FX traders to navigate. Liquidity is often thin, market hours are fragmented, and price formation is shaped by a limited number of local participants and access points. This panel provides a practical introduction to how frontier FX markets function in practice. Speakers will discuss how traders access liquidity across banks, agency brokers and local counterparts, how pricing and liquidity vary by region, and which execution channels can realistically support size. The discussion will also explore common hedging constraints, limitations around transparency and benchmarking, and the practical considerations involved in managing exposure when direct market access is restricted. A clear foundation for desks looking to expand beyond traditional G10 and EM markets.

X1 Sponsors Patrice Guesnet, Co- Head of Fixed Income Trading, Pictet Asset Management Moderator: Othman Boukrami, CEO, Record Currency Management

12.40 EM & Restricted Currencies Interview: Trading EM and restricted currencies: How can you navigate market-plumbing constraints to improve access, liquidity and execution? Emerging market and restricted currencies present some of the most complex microstructure and operational challenges in FX. Liquidity is inconsistent across time zones, dealer conventions vary widely, and custodial and settlement infrastructures can materially shape execution outcomes. This panel takes a practitioner-level look at the market plumbing behind EM and restricted currencies- from documentation requirements and onboarding constraints to the role of local custodians, settlement risk and the lack of standardisation across dealers. Speakers will examine how LPs manage skew and risk in these environments, and share practical strategies for improving execution quality when market-access rules, pricing conventions and operational processes differ sharply from G10 norms.

X2 Sponsors Stéphane Xavier, Vice President, EM FX & Rates Trader, Neuberger Berman agenda

Host: Sothiro Pin, Quantitative Trader, Man Group Host: Julian Gronau, Quantitative Trading Director- FX, Qube Research & Technologies

TRACK B Track Chair: Gregory Armon- Jones, Managing Partner, Armon- Jones Partners

12.00 Portfolio Construction Presentation: FX in multi-asset portfolios: How can you determine the right level and role of currency exposure? This session provides a clear framework for how PMs think about FX within broader portfolio construction- not just as a hedge, but as a potential source of return, diversification and macro expression. The speaker will explore how currency exposures interact with equities, fixed income and alternatives, how PMs decide when to run currency risk versus neutralise it, and how FX behaves across different macro regimes. A practical guide to integrating currency views, exposures and return drivers into disciplined multi-asset portfolio design.

Florian Ielpo, Head of Macro, Multi-Asset, Lombard Odier Investment Managers

12.20 AI Case Study: AI-Enabled Portfolio Construction: How can you simplify tactical allocation to build optimal portfolios within mandate constraints? Translating strategic asset allocation into actual portfolio decisions is often complex and time-consuming. This session demonstrates how AI-driven analytics can support asset selection, position sizing and strategy testing within defined mandate limits. A practical walkthrough of how data and AI tools can reduce friction in portfolio construction, improve decision consistency and help PMs implement tactical views in a more structured and efficient way.

David Marcos, Head of Investment Analytics, IO Capital Group

12.40 Tactical Emerging Markets Interview: Implementing EM FX: How can you size positions, manage liquidity and assess policy risk to position portfolios effectively? EM FX remains a core but complex part of global portfolios, shaped by policy differences, liquidity conditions and political developments. This interview focuses on how PMs implement EM and frontier FX in practicecomparing country risks, assessing market depth, sizing positions, and managing drawdowns during periods of volatility. The discussion will also explore how fiscal constraints and policy credibility in EM markets influence FX risk, and when EM exposure supports diversification versus increasing portfolio volatility.

Laura Cooper, Managing Director, Global Investment Strategist, Nuveen, a TIAA company Brigitte Le Bris, Managing Director, Global Head of Fixed Income & FX, Ostrum Asset Management Canberk Yalcin, EM Portfolio Manager, Record Currency Management Achim Walde, Head of Currency Management, B. Metzler

TRACK C

12.00 Corporate TCA Case Study: Execution optimisation in practice: How can you leverage pre-trade benchmarks and post-trade TCA to improve FX outcomes? As corporates place greater focus on execution quality, many are adopting pragmatic trade analytics to benchmark pricing, compare execution strategies and manage bank performance more effectively. This case study examines how treasurers use realistic pre-trade checks to assess spreads by currency pair, compare execution windows and sense-check expected pricing before dealing. It also shows how post-trade TCA supports multi-bank comparison, identifies outliers and strengthens internal reporting, policy governance and more informed discussions with banking partners. The speaker will share practical lessons on building TCA that delivers tangible savings- balancing cost, data quality and usability to create analytics that are simple, consistent and actionable for corporate FX teams.

X1 sponsor Tuomas Lehosvuo, Treasury Specialist, Hitachi Energy Daniel Morrison, Global Treasury Digital and Performance Manager, SLB

12.20 EM Hedging Panel: Hedging in challenging markets: How can you manage liquidity constraints, pricing gaps and rising hedging costs across EM currencies? Hedging EM currency exposure presents corporates with challenges that differ materially from G10, including uneven liquidity, wider pricing and limited hedging tenors. This session examines how corporate FX teams manage EM and frontier currency risk where exposure can build quickly, pricing gaps appear around weekends or market closures, and hedging costs are higher. Speakers will discuss how they hedge forecast revenues, costs and existing EM exposures when market access and liquidity vary significantly by currency. The panel will share practical examples of how corporates structure hedges, manage cost and use proxy or correlation-based approaches where direct hedging is inefficient or unavailable. A focused discussion on how FX teams balance risk reduction and cost across EM currencies.

Emmanuel Nkrumah, Global FX & I / R Trader, Puma Energy Tom Stambollouian, Treasury FX Manager, Wise Tuomas Rasanen, Senior Treasury Manager, Unilever

12.50 FX & Commodity Panel: Optimising treasury risk management: How can you build a more unified approach to improve hedging and risk visibility? More corporates are developing in-house commodity hedging capabilities alongside established FX programmes. This panel explores whether these risks should be managed more closely together or remain separate. Speakers will discuss how treasury teams oversee currency and commodity exposures, where processes differ, and what changes when commodity hedging moves in-house. A practical discussion on how corporates are structuring and evolving their FX and commodity hedging approach.

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