TradeTech FX 2024
16 - 18 September, 2024
Mövenpick Hotel Amsterdam City Centre & ijVENUES Amsterdam
Day One – 12th September 2019
7:30 am - 8:30 am
Conference Registration & Networking Breakfast
7:30 am - 8:30 am
Exclusive Invite Only Buy Side Think-Tank Breakfast: How can the buy side better collaborate to drive mutually beneficial initiatives forward?
Andrew Maack -
Head of FX Trading,
Vanguard
Open to 15 Heads of FX Trading or Portfolio Management – Pre-registration is required
- Breakfast will be served during this session
- Participants include: Thomas Bengtsson, Senior Portfolio Manager, ATP
8:30 am - 8:35 am
Welcome Address
Diane Mekie, TradeTech FX Europe Conference Director, WBR
8:35 am - 8:40 am
Chairperson’s Opening Remarks
Michael Melvin -
Executive Director, Rady School of Management, UCSD & Former Managing Director, Blackrock,
Rady School of Management
Michael Melvin
Executive Director, Rady School of Management, UCSD & Former Managing Director, BlackrockRady School of Management
The View From The Top
8:40 am - 9:00 am
Buy Side Keynote: An absence of volatility, geo-political disruption and the end of QE - What are the economic fundamentals that will impact currency movements over the next 12 months and beyond?
Stephen Hull -
Former CIO, Ibex Capital; Former Portfolio Manager, Moore Capital; Former Global Currency Strategist, Brevan Howard,
Former Ibex Capital; Moore Capital; Brevan Howard
Stephen has 20+ years of experience as Head of FX/Macro Research (Goldman Sachs, Morgan Stanley) alongside significant buy side experience (Goldman Sachs Prop, Brevan Howard, Moore Capital).
· What are the key macroeconomic indicators that will determine the medium and long-term direction of currencies and how should you factor these movements into your investment decision making?
· Can we expect further quantitative tightening by central banks or are we now in a post QE era? What does that mean for liquidity and market structure?
· Assessing the roadmap for China’s GDP - What does the outlook mean for its trade partners and how will it affect the wider APAC region?
· Assessing the long-term implications of Brexit - What impact will this have on the pound and what are the long term implications for the UK currency?
· The potential for a new recession - Is this realistically on the horizon and if so how can you best position your portfolio to mitigate the risks?
Stephen Hull
Former CIO, Ibex Capital; Former Portfolio Manager, Moore Capital; Former Global Currency Strategist, Brevan HowardFormer Ibex Capital; Moore Capital; Brevan Howard
9:00 am - 9:20 am
Keynote: The sell side’s view point of the evolving FX market structure – what are the major developments transforming FX markets and how are the sell side reacting to the buy side’s needs?
Neehal Shah -
Global Head of G10 FX Trading and EMEA Head of FX Institutional Sales,
BNP Paribas
- Market Structure: Evolving product offerings, new technologies and regulatory pressures are all shaping the FX market – how is the sell side trading floor changing in response?
- Man v Machine: finding the balance of automation with local trading and sales expertise. What is the right mix for the buy side?
- AI, Machine Learning, Algos & Bots: what new digital innovations are the sell side investing in to better serve the buy side?
Neehal Shah
Global Head of G10 FX Trading and EMEA Head of FX Institutional SalesBNP Paribas
9:20 am - 10:00 am
All Star Panel: How can you gain automation efficiencies and create a comprehensive technology workflow across the full FX spectrum?
David Shack -
VP, FX Technology,
Fidelity Investments
Ruben Costa-Santos -
Head of Multi-Asset Class Analytics,
Virtu Financial
Tod Van Name -
Global Head of Foreign Exchange electronic trading,
Bloomberg
David Newns -
CEO,
SDX
Jill Sigelbaum -
Head of FXall,
Refinitiv
Cyril Batkin -
Senior FX Trader,
Candriam
- Humans vs. machines - What can you automate through your trade execution and flow process to reduce the workload on your trading teams?
- Smart analytics - How can you gain the latest data insights for a trading desk to maximise transparency and better understand when and where to trade?
- What electronic tools are now essential to maximise efficiency for pre-trade, real time trade and post trade?
- In house vs. outsourcing technology - How can you establish what tools are best to keep in house and what you can outsource in your quest to create the optimal workflow and liquidity?
- How can you ensure your OMS/EMS and full workflow is future proof and does not inhibit your business from evolving on the back of increased technological fragmentation, multi-asset needs and regulatory reform?
- How would you structure your desk if you could start with a blank slate?
Audience interaction and live polling during this session
10:00 am - 10:40 am
All Star Panel: Evaluating the current state of FX liquidity - How can you ensure you have the right capital, access to liquidity and necessary transparency to meet your best execution obligations?
Satnam Sohal -
Principal,
Greenwich Associates
Kevin Kimmel -
Global Head of eFX,
Citadel Securities
Robbert Sijbrandij -
Head of FX,
Flow Traders
Darren Jer -
CEO,
MarketFactory
Paris Pennesi -
Head of Quant Strategies, Spot FX & Commodities, eRisk,
HSBC
Mark Bruce -
Head of Sales and Strategy, Jump Liquidity and Head of FICC,
Jump Trading Group
- New methods of finding liquidity - How do platforms and new entrants need to evolve to continue to offer new avenues of liquidity for the buy side?
- Examining new central limit order book models for NDFs, swaps, and forwards - How do they differ from spot FX ECNs and what are the best ways to integrate them into your portfolio of electronic trading venues?
- Is there enough transparency in determining who is behind liquidity – is it the principal desk, clients, HFTs?
- How has the increased use of algos and enhanced eTrading capabilities on the buy side impacted FX liquidity?
- What resources and technology are available to give you regular access to reliable liquidity pools?
Audience interaction and live polling during this session
10:40 am - 11:10 am
Morning Refreshment Break
10:40 am - 11:40 am
Morning Masterclass
Hosted by Morgan Stanley
New Frontiers In Global FX
11:10 am - 12:00 pm
Sell Side 360° Perspective: How can the sell side lead the way in offering the buy side innovative solutions across the full FX product spectrum?
Svante Hedin -
Co-head of Trading Markets,
SEB
John Turney -
Global Head of Foreign Exchange,
Northern Trust
Paul Matherne -
Global Head of FX Forwards,
BNY Mellon
David Wilkins -
Head of Global eFX Sales,
Goldman Sachs
Joe Nash -
FX & Local Markets Digital COO,
BNP Paribas
Mauricio Sada-Paz -
Global Head of eFICC Product and Distribution,
Barclays
- How are the sell side reacting to the buy side’s needs in an evolving market structure and with new entrants offering alternative liquidity offerings?
- What kind of technology, tools and services are on offer to differentiate themselves, in a climate of increasing cost pressures and industry consolidation?
- What is needed in the evolution of the sell side skill set and profile to meet the current and future needs of the market?
- What new innovations are the sell side investing in now to provide near and medium-term solutions?
Audience interaction and live polling during this session
12:00 pm - 12:40 pm
All Star Panel: What are the latest innovations in FX algos, how are providers differentiating their offerings, and what is the current buy side adoption rate?
Daniel Chambers -
Head of Trading,
Sequoia Capital Fund Management
Hasan Amjad -
Head of Algorithmic Trading,
GAM Systematic Cantab
Sunil Patil -
Senior Trader,
APG Asset Management
Ralf Donner -
Global Head of Client FX Algo Execution,
Goldman Sachs
Vittorio Nuti -
Global Head FX Algos,
Deutsche Bank
Allan Guild -
Global Head of Alternative Execution Services,
HSBC
- The smart trader- How should algos compliment your trader’s toolkit to give them the best chances of meeting their best execution goals?
- Assessing the adoption rates for FX algos - How are the buy side adapting to increasingly advanced and intelligent algos and what percentage of their workflow is executed via this method?
- Given the pendulum of risk swinging more to the buy side with the reduction of principle trading, are the buy side more comfortable with more simplistic algo offerings?
- Debunking the myth of commoditised algos - How do providers differentiate their algos to offer bespoke, tangible value to your execution process?
- The next step in the algo evolution - How are more sophisticated algos being developed with the use of AI and machine learning which are more flexible and adaptable to rules-based trading?
12:40 pm - 1:10 pm
In Conversation: Will Brexit will lead to London losing its position as the clearing capital of Europe?
Richard Longmore -
Managing Director,
Fineosis
David Cook -
Executive Director, Regulatory Affairs,
IHS Markit
David Woolcock -
Chair of the Committee for Professionalism,
ACI
Other Panellists TBC
- Competition vs. fragmentation- Establishing the case for and against moving clearing to the continent
- The role of EMIR II on clearing and Brexit - What impact will this have on UK domiciled clearing houses and their role in European markets?
- Is it possible for euro derivatives clearing to be mandated to move to the continent from London, and if so what would the impact be on the current market structure?
- The push for power - Where will the dominant clearing hub be in 5 years time and how will the current landscape differ?
Special Guest Speaker
1:10 pm - 1:40 pm
Special Guest Speaker: The rise of populism - In an era of Trump and Brexit, how will the US and European political landscape impact the global economy and markets?
Mr David Smith -
Economics editor,
Sunday Times
1:40 pm - 3:00 pm
Networking Lunch
1:40 pm - 3:00 pm
Goldman Sachs Buy Side Leaders Lunch
Hosted By Goldman Sachs - Lunch will be served during this session
Conference Tracks
Chaired By: David Bullen, Director, Lorgwood Limited
Track A: Enhancing Your FX Workflow
3:00 pm - 3:20 pm In Conversation: Turning big data into smart data - How can you put new and alternative data sources to work to tap into profitable trading opportunities? Saeed Amen - Founder, Cuemacro- How can superior data sets and methods of extracting information from data give you a trading advantage?
- What alternative forms of data are the buy side using now to build out their portfolios and come up with new trade ideas?
- What do you need to understand and have in place with your current workflow before making any practical use of alternative data?
- How can you integrate new data insights into your existing workflow, with alternative data and social media data adoption a growing focus?
Track A: Enhancing Your FX Workflow
3:20 pm - 3:50 pm In Conversation: Beyond box ticking: How can you take pre, real time and post trade TCA and use these insights to gain a competitive edge? Eva Szalay - Currencies Correspondent, Financial Times Yves Perréard - CEO, Perréard Partners Investment SA (PPI SA) Vikas Srivastava - Chief Revenue Officer, Integral Simon Wilson-Taylor - Head of EBS Institutional, CME Group Vinay Trivedi - Senior Vice President, FX Strategic Initiatives, FlexTrade- Not just a tick box exercise: how can you practically utilise TCA to achieve a positive impact on trades, improve competition, and add value?
- Where is the industry on peer analysis of TCA – can you not only assess your performance, but also how it compares to other asset managers?
- Addressing the challenges of less liquid currencies - How can you construct your benchmark and TCA for less developed currency pairs to develop accurate execution analysis?
Track A: Enhancing Your FX Workflow
3:50 pm - 4:20 pm In Conversation: Separating the AI hype from reality - What are the latest successful applications and how can you implement them on your trading desk? Paul Bilokon - CEO & Founder, Thalesians & Lecturer, Imperial College, Thalesians Hasan Amjad - Head of Algorithmic Trading, GAM Systematic Cantab Sunil Patil - Senior Trader, APG Asset Management Richard Bateson - Director, Bateson Asset Management Rafael Molinero - CEO, Molinero Capital Management- How are buy and sell firms practically leveraging AI to drive operational efficiencies and automation on their desk?
- What types of buy side firms are leading the way on innovations and practical applications using AI?
- What are the front office activities that can most benefit from AI and automation and how can deep learning be applied?
- What’s happening in the AI labs and fintech firms to drive developments in the use of AI technology?
Chaired By: Paul Krake, Founder, View From The Peak
Track B: Generating Alpha, and Active Vs Passive
3:00 pm - 3:30 pm 360° Perspective: From divergence to convergence - What impact will the move towards quantitative tightening have on volatility and how should you position your portfolio to enhance returns? Helen Thomas - CEO, BlondeMoney Alex Dewhurst - Global Head of FX & Emerging Markets Sales, Societe Generale Michael Hart - Chief Economist and Strategist, City of London Investment Group- How are the ECB responding to the end of their Quantitative Easing scheme and what is the strategy for tapering?
- What role can FX play in a potentially lower return environment as a result of rate hikes and how can you acclimatise to this new environment?
- New opportunities for FX investors - What is your trade relating to monetary policy with exchange rates and exchange rate forecasting?
- What was the end result of the flash crash and what are central banks putting in place for it to not happen again?
- What will cause the next crisis? Could ETFs cause a self- fulfilling downward spiral?
Track B: Generating Alpha, and Active Vs Passive
3:30 pm - 3:50 pm In Conversation: Active vs Passive - What hedging strategies should you undertake in 2019 and beyond to best manage your currency risk? Erwin Hazeveld - Senior Investment Manager Treasury, MN- What are the consequences of various currency hedging strategies on typical institutional portfolios?
- The history of hedging - What has been the historical returns of unhedged vs. fully hedged portfolios?
- Global hedging perspectives - How can hedging strategies and returns differ across North America, Europe and Asia?
- Active vs Passive - What hedging strategies should you undertake in 2019 and beyond to reduce your currency risk?
Track B: Generating Alpha, and Active Vs Passive
3:50 pm - 4:20 pm Fireside Chat: Gaining the information edge: How can you take advantage of data analytics to make more informed investment decisions that lead to greater alpha generation opportunities? Stefanie Holtze-Jen - Chief Currency Strategist, DWS Group Thomas Wind - Former Head of Foreign Exchange & Trading, Woodman Asset Management- How can portfolio managers use data analytics to gain a competitive advantage? Are we all becoming data scientists?
- What are the current limitations of market data and how can you overcome them using data analytics to solidify your investment strategy?
- What are the best data sources to use when predicting market sentiment? How has your research strategy changed post-MiFID II?
- Combining AI and machine learning with big data - How can a data-driven, scientifically based and technologically aware research culture produce sustainable alpha?
Open to a maximum of 20 buy side delegates
Asia Workshop
3:00 pm - 4:20 pm Workshop: Access solutions for Asia Local Markets Stephen Wilkes - Head of Platform Sales EMEA, Deutsche Bank Michael Wachtel - Head of Asia Fixed Income Cross Border Solutions, US & UK, Institutional Client Group, Deutsche BankDeutsche Bank will lead a workshop to help participants navigate the requirements to trade across the region. Covering how to trade FX onshore and offshore, how to combine access to local bond markets with hedging requirements and also introducing synthetic products. A valuable reference guide for those wishing to participate in Asian markets.
Open to a maximum of 20 buy side delegates
Michael Wachtel
Head of Asia Fixed Income Cross Border Solutions, US & UK, Institutional Client GroupDeutsche Bank
4:20 pm - 4:50 pm
Afternoon Refreshment Break
4:20 pm - 5:20 pm
Private Buy Side Only Workshop: Trading 2020 - a look forward on transformational trends
Hosted by JP Morgan
Refreshments will be served during this session
With increased adoption of FX algo strategies, the ever growing drive to prove best execution along with rapid enhancements in technology brings up an important question. What is next for the future of trading?
J.P. Morgan invite you to attend Trading 2020, where we bring together experts at the forefront of trading technology to discuss and share their views on the innovation revolution and the adoption of next generation technologies.
Conference Tracks
Track A: Driving Innovation Across The Full FX Spectrum
4:50 pm - 5:20 pm In Conversation: How can you overcome the technological challenges around forwards and non-deliverable forwards (NDFs) to migrate to a more efficient electronic model? Farshad Behvand - Portfolio Manager, Tudor Investment Corporation Joseph Walton - Head of Electronic STIR Quant Trading, UBS- What are the advantages of trading forwards and NDFs on swap execution facilities (SEFs) and what are the differences from trading spot FX on electronic communication networks (ECNs)?
- What are proven ways to incorporate these products into your portfolio of e-trading venues to open liquidity opportunities?
- Will forward products be centrally cleared, or do market participants still trade/clear on a bilateral basis?
- What are the algo capabilities in the forwards/NDF space and how are they developing?
Farshad Behvand
Portfolio ManagerTudor Investment Corporation
Track A: Driving Innovation Across The Full FX Spectrum
5:20 pm - 5:50 pm In Conversation: How you can successfully achieve electronification in FX options? Pritesh Ruparel - Head of Options, Sucden Financial- What are the industry factors holding back the development of electronification of FX options?
- How is the increase in volatility impacting the interest in trading FX options?
- Who are the main players on the buy side, sell side, technology and platform universe who are leading innovations in FX options?
- What are the upcoming advances being developed in FX options?
Track B: Generating Alpha
4:50 pm - 5:30 pm In Conversation: Generating alpha in FX - Where do the top alpha opportunities reside and how can you best capitalise on these for enhanced returns? Patrick Hoffmann - Former Portfolio Manager, Stone Milliner Asset Management Achim Walde - Senior Currency Overlay Manager, B. Metzler- For a few years it’s been difficult to extract alpha out of FX – what are the reasons underlying that, and where has alpha gone? Was this due to regulations or risk warehousing?
- What role do FX swaps play in portfolio construction?
- Foreign Exchange in times of US interest rate differentials - What impact will a US rate hike have on the dollar and how should you factor this into your investment strategy?
- EU macro view - Risk segregation and market fragility in the Eurozone - Where do the biggest risks and opportunities lie?
- Will the liberalization of Chinese FX policy entice other markets in APAC to do the same?
- What is the best trading opportunity and why across each region, and how can you best capitalize on this?
Track B: Generating Alpha
5:30 pm - 5:50 pm Fireside Chat: Preparing investors for Chinese investments - How can you increase your exposure to offshore Yuan investments whilst managing key risks to enhance your returns? David Nowakowski - Multi-Asset Strategist, Aviva Michael Hart - Chief Economist and Strategist, City of London Investment Group Bernd Berg - Global Macro Strategist and Portfolio Manager, Woodman Asset Management- Gaining access to Chinese markets - How will China’s MSCI entry present new opportunities to overseas investors?
- The macro view of China - What are the key themes in 2019 that will impact Chinese currency investing?
- Chinese currency investment strategies – what are best practice case studies for managing and hedging the RMB?
- What are the biggest investment risks and opportunities for Chinese currency investing in once cross-border RMB flows increase?
Open to Heads of FX Trading or Portfolio Management
Buy Side Only Roundtables
4:50 pm - 5:50 pm Exclusive Invite Only Buy Side Roundtables: Source solutions to address your biggest challenges and opportunities with your buy side peers Dan Green - VP Global Trading, T. Rowe Price Richard Bateson - Director, Bateson Asset Management Lee Sanders - Head of FX and FI Dealing, AXA Investment Managers Cyril Batkin - Senior FX Trader, CandriamOpen to Heads of FX Trading or Portfolio Management – Pre-registration is required
Roundtables will include:
- Roundtable 1: The evolution of peer to peer trading – Hosted By Dan Green, VP Global Trading, T. Rowe Price
- Roundtable 2: Practical uses of AI and Machine Learning in FX trading – Hosted By Richard Bateson, Director, Bateson Asset Management
- Roundtable 3: The evolving buy side trader skill set – Hosted By Lee Sanders, Head of FX and FI Dealing, AXA Investment Managers
- Roundtable 4: Designing the optimal FX desk with an enhanced workflow – Hosted By Cyril Batkin, Senior FX Trader, Candriam
5:50 pm - 5:55 pm
Chairperson’s closing remarks
Michael Melvin -
Executive Director, Rady School of Management, UCSD & Former Managing Director, Blackrock,
Rady School of Management
Michael Melvin
Executive Director, Rady School of Management, UCSD & Former Managing Director, BlackrockRady School of Management