Kevin McPartland, Head of Market Structure Research at Greenwich Associates

Kevin McPartland


Head of Market Structure Research
Greenwich Associates

Check out the incredible speaker line-up to see who will be joining Kevin.

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Summit Day 1

Friday, February 6th, 2015


09:45 All Star Panel: Forming a successful trading desk in 2016- What are the people, process and technology requirements needed?

As your external world radically changes, internal reform is required in order for you to keep abreast of the ongoing changes happening outside your office. As the traditional methods of trading fixed income change, it is vital that you build an internal trading environment which will not only harness these external changes, but help you steer your desk through these winds of change. This ‘All Star Panel’ with representation from the full fixed income value chain, will provide expertise on:
  • Assessing the impact of the developing regulatory environment - What makes a compliant trading desk in 2016?
  • How should you set up your internal structures to match an evolving external environment?
  • What strategies can you exploit to overcome reduced dealer balance sheets and ensure you are tapping into the right liquidity hubs?
  • Trading and operations - Who should you partner with as the traditional roles of market players change and evolve?
  • What technological trends can you take advantage of now to improve your trading performance in 2016 and beyond?

11:50 360° Perspective: How can regulators work to create a more coherent market structure which can promote transparency and liquidity in the US?

  • What is next on the US regulatory agenda and how will this impact fixed income markets?
  • How can the buy side adjust to new market conditions on the back of the regulatory regime?
  • What can regulators do to help improve transparency and liquidity and promote a more coherent market structure?
  • Cross border rules- How can regulators work together across jurisdictions to minimize impact for global firms?

14:00 Oxford Style Debate: Do capital constraints mean an agency based market model is set to become the more dominant form of trading?

Audience Participation

The intense pressure from regulators is pushing sell side firms to their limits. Saddled with capital constraints, the sell side are now committing less capital, warehousing less inventory and taking on less risk, meaning the traditional ways in which they transact with the buy side is changing. As the regulatory screw tightens further, the traditional principal based structure is under threat, and the way buy side and sell side firms interact is changing. During this session, our panelists will debate:

  • Do increased costs and reduced balance sheets mean that a more dominant agency model is inevitable?
  • Agency vs. Principal - Are the sell side now there just to facilitate execution between buyers and sellers?
  • Are agency models reliable enough to offer an effective service in fixed income markets?
  • Can a principal model still offer a successful business model for the sell side?
  • Could a ‘Riskless Principal Model’ be the way forward in the long term to offer maximum value to the buy side?

14:40 360° Perspective: How are Inter Dealer Brokers (IDB) reinventing themselves to offer additional value to the buy side?

Over the last 12 months, there have been major tectonic shifts in the IDB space, with a number of mergers, acquisitions and new models changing the face of the market. As the market structure transformation moves into top gear, IDB’s are now re-shaping themselves to capitalize on the fragmentation in the industry, and changing their models to offer a new service to you. During this session you will learn:

  • How will the IDB’s provide increased and alternative access to liquidity for buy side firms?
  • How has the IDB market evolved for treasuries, and is there any scope to include the buy side on their credit markets?
  • Is the traditional role of an IDB over - what is the transformational process that the IDB’s are going through?
  • How will the IDB’s work with both buy and sell side firms and offer value on both sides of the market?
  • The transformation from IDB market to trading platforms - how have they transformed into a suitable exchange for the buy side?