12th Annual European Market Liquidity Conference | afme

12th Annual European Market Liquidity Conference

The future of fixed income trading and technology

23 Feb 2017 etc venues St Paul's, London

Agenda

Conference materials:

  • Afternoon keynote address. Download the presentation here by Niall Bohan, European Commission
08:30

Conference registration and refreshments

09:00

Chair's opening remarks
Rick Watson, Managing Director and Head of Capital Markets, AFME

 

09:10

Morning keynote:
Nicola Horlick, CEO, Money&Co.

Moderator: Simon Lewis, Chief Executive, AFME

09:50

Panel 1: Fixed income investors' and traders' roundtable 

  • views on status of bond market liquidity
  • effects of ongoing market structural and regulatory change on liquidity
  • effective tools & technologies to overcome the challenge of low liquidity
  • asset class comparisons, market insights and views on diversification
  • strategic outlook and forecasts for 2017

Moderator:
Victoria Webster, Director, Fixed Income, AFME

Panellists:
Mariano Goldfischer, Managing Director, Global Head Credit Trading and Syndicate, Crédit Agricole
Jon Mawby, Senior Portfolio Manager, GLG Partners
Umberto Menconi, eCommerce Sales, Banca IMI
Terence Tsang, Head of Market Strategic and Securitization Portfolios, UniCredit

10:40

Networking break

11:10

Panel 2: How is the conduct agenda contributing to the trading and liquidity landscape? 

  • principal vs. agency, will the shift affect liquidity?
  • effects of changes in execution policies
  • increasing behavioural analysis and surveillance of trader activity
  • transparency implications for client relationships

Moderator:
James Kemp, Managing Director, Global FX Division, GFMA

Panellists:
Sally Dewar, International Head of Regulatory Affairs, J.P. Morgan
Dominic Holland, Head of Fixed Income Electronic Markets, BNY Mellon
Michael Kent, Partner, Global Head of Finance and Projects Division, Linklaters
Nat Tyce, Co-Head of Macro Trading, Barclays
Mark Yallop, Chair, FICC Markets Standards Board

12:00

Panel 3: What emerging technologies will shape the future of fixed income trading? 

  • how will blockchain effect trading and liquidity
  • potential applications and efficiencies from RPA, AI and machine learning
  • how will increase automation impact fixed income trading and investment strategies and are their lessons from equities markets
  • process innovation in dealing with data – speed, access and tackling complexity
  • operational and cultural challenges in business transformation
  • does early adoption of new technologies guarantee market advantage?
  • which emerging technologies from other industries could influence FinTech in the future?

Moderator: James Turck, Director, Global Markets Architecture and Innovation, Credit Suisse


Panellists:
Alex Batlin, Global Head of Emerging Business and Technology and Global Blockchain Lead, BNY Mellon
Matthew Coupe, Director, Market Structure, Markets EMEA, Barclays
Rob Howes, Co-Founder and COO, Algomi

13:00

Sponsored networking lunch

14:00

Afternoon keynote: Regulatory outlook for European bond market liquidity

Niall Bohan, Head of Unit, Capital Markets Union, European Commission

Moderator: Richard Hopkin, Managing Director, Head of Fixed Income, Capital Markets, AFME

14:40

Panel 4: Brexit and other macroeconomic influences on bond market liquidity

  • potential implication of Brexit on UK and European capital markets
  • impact of Brexit on GDP forecast, growth and liquidity
  • reflecting on markets performance since the UK vote and comparisons with pre-referendum forecasts?
  • what other political and policy factors effecting bond market liquidity in 2017?
  • what can we read into divergent global monetary policy trends and likely trends for interest rates?

Moderator: Swaha Pattanaik, Associate Editor, Reuters Breakingviews


Panellists:
Luca Bagato, Head of Sales and Business Development, Euro TLX Sim Spa (LSE group)
Nick Burge, MD, Head of Global Corporates Structural & Regulatory Solutions, Lloyds Bank
Massimiliano Castelli, Managing Director, Head of Strategy, Global Sovereign Markets, UBS Asset Management
Kit Juckes, Chief Foreign Exchange Strategist, Société Générale
Srikanth Sankaran, Executive Director and the Head of European Credit Strategy, Morgan Stanley

15:30

Networking break

16:00

Panel 5: MiFID impact on trading - details in planning for 2018

  • MiFID open issues – where are we now?
  • effects of the changes to transparency and transaction reporting?
  • issues impacting Systematic Internalisers and Trading Venues
  • distribution and consumption of FICC research

Moderator: Julian Allen-Ellis, ‎Director, MiFID, AFME

Panellists:
Andrew Bowley, Managing Director, Head of Regulatory Response and Market Structure Strategy, Nomura
Elisa Menardo, Director, Public Affairs and Policy, Credit Suisse
Mario Muth, ‎Head Electronic Trading, ‎Deutsche Bank
Jason Waight, Head of Business Management and Regulatory Affairs, MarketAxess Europe and Trax

16:50

Panel 6: What are the drivers, challenges and opportunities in the future of fixed income trading?

  • what is the future of the traditional liquidity provision model?
  • should we be looking for an alternative to the market-making model?
  • is all-to-all trading the solution to enhancing bond market liquidity?
  • what are the ‘social costs’ of losing liquidity in the corporate bond secondary markets?
  • what will be the key factors driving change in markets going forward?

Moderator: Katie Linsell, Corporate Debt Reporter, Bloomberg News

Panellists:
Gareth Coltman, Head of European Product Management, MarketAxess
Andy Hill
,
Senior Director, Market Practice and Regulatory Policy, ICMA
Lawrence Peirson,
Managing Director, Head of Market Hub, Banca IMI
James Wallin, 
Senior Vice President, AllianceBernstein

17:40

Chair's closing remarks

17:45

Networking drinks reception