13th Annual European Government Bond Conference | afme

13th Annual European Government Bond Conference

12 - 13 Nov 2018 Sofitel Europe, Brussels

Agenda

Monday 12 November

19:00

Drinks reception
Sofitel Europe, Brussels: Europe Foyer, first floor
Open to all conference delegates

Hosted by

Tradeweb

Tradeweb

20:00

Invitation only AFME European Government Bond Dinner
Sofitel Europe, Brussels: Europe Foyer, first floor
Invitation only

Welcome remarks: Victoria Webster, Director, Fixed Income, AFME

After dinner: Karel Lannoo, Chief Executive Officer, CEPS

Hosted by

Citi, Barclays and BrokerTec

Citi, Barclays and BrokerTec

Tuesday 13 November

08:30

Registration and refreshments

09:15

Opening remarks
Victoria Webster, Director, Fixed Income, AFME

09:25

Morning keynote address: Green Sovereign Bonds

Keynote speaker: Anne Leclercq, Director Treasury & Capital Markets, Belgian Debt Agency
Introduction by: Victoria Webster, Director, Fixed Income, AFME

10:05

Panel discussion: The Future and Sustainability of Sovereign Bond Issuance

  • is the primary dealer’s model sustainable in the current environments? Is there a need to change the auction process?
  • what changes to the primary market auction process would investors like to see to increase their participation?
  • what steps can be taken to make the book building process more transparent and provide issuers better information to make allocation decisions?
  • what are the innovations emerging in the current environment - new technology deployment among interdealer platforms, sovereign green bonds, GDP-linked sovereign bonds, euro-social/sustainable bonds?

Moderator:
Natacha Hilger, Director, Relationship Manager European Debt Management Offices, Deutsche Bank

Panellists:
Pablo de Ramón-Laca, Head of Funding and Debt Management, Spanish Treasury
Thorsten Meyer Larsen, Head of Investor Relations and Risk, Government Debt Management, Danmarks Nationalbank
Angelo Proni, Head of New & Domestic Markets, MTS
Sir Robert Stheeman, Chief Executive, UK Debt Management Office

11:00

Networking break

11:30

Roundtable A: Impact of MiFID II on EGB Markets

  • how has MiFID II affected trading and liquidity?
  • how does MiFID II in practice compare to regulatory aims and industry expectations?
  • how has MiFID II affected the role of Electronic and voice trading?
  • how will MiFID II change the way markets fill function going forward?

Roundtable hosts:
Julian Allen-Ellis, Director, MiFID, AFME
Emanuele Caloia, Managing Director, Head of International Rates Sales, Jefferies
Victoria Webster, Director, Fixed Income, AFME

 

Roundtable B: FinTech and the Future of Trading

  • what are the innovations and new entrants that could disrupt the EGB market?
  • how will these new technologies benefit market stakeholders?
  • what areas are regulators expected to concentrate  on in the fixed income market over the next few years?
  • what disrupting technologies in other industries could influence financial services and markets?

Roundtable hosts:
Herbert Barth, Senior Advisor, European Stability Mechanism (ESM)
Enrico Bruni, Managing Director, Head of Europe and Asia, Tradeweb

 

 

Roundtable C: Why the FRTB Matters For EU Capital Markets

  • impact of FRTB on dealer capacity
  • liquidity horizons
  • impact of 3BP default risk factor on Govt bond portfolios

Roundtable hosts:
Jouni Aaltonen, Director, Prudential Regulation Division, AFME
Franck Motte, Global Head of Euro Rates, HSBC
Jesper Thye-Oestergaard, Co-head of xVA Trading & Funding, Nordea Markets

12:30

Lunch

13:30

Afternoon chair’s opening remarks
Richard Hopkin, Managing Director, Head of Fixed Income, AFME

13:40

Afternoon keynote address: Euro Risk Free Rates - Euribor and EONIA Reforms

Keynote speaker: Cornelia Holthausen, Deputy Director General Market Operations, European Central Bank

Introduction by: Richard Hopkin, Managing Director, Head of Fixed Income, AFME

 

14:20

Panel discussion: Economic Factors and Trends Shaping European Fixed Income Markets

  • assessment of growing political uncertainty globally and especially within Europe
  • interest rates and reduction in ECB stimulus – what impact on bond markets and what can we expect for EGBs?
  • outlook for secondary market liquidity in 2019 - challenges and opportunities in EGB trading and investing
  • the regulatory treatment of sovereign exposures and recommend potential policy options

Moderator:
Michael Cartine, Senior Government Bond Analyst, International Financing Review

Panellists:
Christina Casalinho, Chief Executive Officer, Portuguese Treasury and Government Debt Agency (IGCP)
Giada Giani, European Economist, Citi
Heinz Gunasekera, Director, European Rates Trading Desk, Barclays

15:15

Closing Remarks
Victoria Webster, Director, Fixed Income, AFME

15:25

Closing drinks reception