Summit Day 1

08:00 AM - 08:30 AM Conference Registration and Networking Breakfast

08:30 AM - 08:35 AM Welcome Address

Oliver Kirkbright, Fixed Income Leaders Summit Director, WBR

08:35 AM - 08:40 AM Speed Networking

08:40 AM - 08:45 AM Chairperson's Opening Remarks

Kevin McPartland, Head of Market Structure Research, Greenwich Associates

img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates

Build A World Class Trading Desk

08:45 AM - 09:25 AM Buy Side Leaders Panel: Setting the fixed income mission statement - What is the ideal fixed income market structure that can promote progression across the full trading spectrum?

Chris White, CEO, ViableMKTS Sam Priyadarshi, Head of Fixed Income Derivatives, Vanguard Hicham Hajhamou, Vice President, AQR Capital Management Brian Kinney, Managing Director, State Street Global Advisors Chip Bankes, Vice President, Head of Trading, Loomis Sayles & Co.

Audience Participation

Regulatory reform, shrinking dealer balance sheets, liquidity shortages - these are just some of the major challenges keeping buy side traders awake at night. As the evolution within fixed income takes full swing, this market leading buy side panel will outline exactly how they want to see fixed income markets evolve, and create a ‘mission statement’ for the rest of the conference to follow. During this session, our market leading panel will discuss:

  • Comply - What can regulators do to help harness liquidity in fixed income markets and ease the burden on the buy and sell side?
  • Reform - What type of market can facilitate an efficient structure between buy side, sell side and platforms?
  • Streamline - How must platform initiatives progress to provide a reliable service to the buy side with less fragmentation?
  • Innovate - How can technology progress to assist the buy side and help them meet their best execution obligations?
  • Mission statement - What makes the ideal fixed income market model?

img

Sam Priyadarshi

Head of Fixed Income Derivatives
Vanguard
img

Hicham Hajhamou

Vice President
AQR Capital Management
img

Chris White

CEO
ViableMKTS
img

Brian Kinney

Managing Director
State Street Global Advisors
img

Chip Bankes

Vice President, Head of Trading
Loomis Sayles & Co.

09:25 AM - 09:45 AM Industry Keynote: The Blueprint for success - How are new entrants disrupting fixed income markets to break the norm and offer differentiation to the buy side?

Paul Hamill, Managing Director, Citadel Securities
  • New entrants vs. traditional players - What makes the ideal trading business in 2016 and how can new models bring to the buy side?
  • Market structure through the lens - What has changed on the back of regulation and innovation, and what remains the same?
  • Notes from a new entrant - What has been learned from new entrants and how must they develop their models to operate successfully across markets?
  • How can new entrants work within a contrasting European landscape to offer more reliable liquidity globally?
  • Mapping the journey - How can disruption benefit fixed income markets and how can these new entrants evolve?

img

Paul Hamill

Managing Director
Citadel Securities
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?

img

Zack Ellison, CFA, CAIA

Director, US Public Fixed Income
Sun Life Investment Management
img

Irina Isaakova

Vice President and Director
TD Asset Management
img

Stephen McLaren

Head of Branch Sales
MarketAxess
img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates
img

Frank Cerveny

Head of Markets
MTS
img

John Adam

Global Head of Product Strategy
Portware

10:25 AM - 10:45 AM One on One Interview: How fixed income trading will continue to evolve with electronic market structure

, , Billy Hult, President, Tradeweb

The focus on electronic trading in fixed income has never been greater as market participants’ appetite for a more intelligent, efficient workflow is increasing at a rapid pace. Tradeweb's President Billy Hult and Kevin McPartland of Greenwich Associates will discuss the evolving scope and scale of technology in global fixed income, where they will provide expertise on:

  • The evolving roles of market participants and how they are enabled by technology
  • Increasing connectivity and access to liquidity across trading networks
  • Greater pre-trade intelligence and post-trade analytics that support best execution and transaction cost analysis
  • Flexible trading solutions for a broader universe of fixed income securities
  • The impact of regulatory reform for market participants, and its influence on trade workflows

img

Billy Hult

President
Tradeweb

10:45 AM - 11:30 AM Morning Networking Break

Track A: Lifting The Lid On Global Regulation

11:30 AM - 11:50 AM Fireside Chat: Clarifying MiFID II - What does the impending EU reform mean for US entities?

David B. Weiss, Senior Analyst, Aite Group Brett Chappell, Head of Fixed Income Trading, Nordea Investment Management Mayra Rodriguez Valladares, Managing Principal, MRV Associates Stephen Humenik, Of Counsel, Covington and Burling

While the implementation date for MiFID II is debated by EU policymakers, one thing that is guaranteed will be the major implications that MiFID II is going to have across global fixed income markets. For anyone trading across global markets, this session is a ‘must-not-miss’ where you will learn:

  • What is the current status of MiFID II in Europe and how will the timelines impact US firms?
  • EU vs. US transparency requirements and differentiation - How do you manage accounts that fall under EU regulations?
  • How will MiFID II impact a US entity’s ability to access EU liquidity and how can this be overcome?
  • What impacts will MiFID II have on the European market structure and what will this mean for the US landscape?
  • Are MiFID II rules leading to increased fragmentation between the US and EU markets?

img

Brett Chappell

Head of Fixed Income Trading
Nordea Investment Management
img

Mayra Rodriguez Valladares

Managing Principal
MRV Associates
img

David B. Weiss

Senior Analyst
Aite Group
img

Stephen Humenik

Of Counsel
Covington and Burling

Track B: Clarifying The Domestic Regulatory Agenda

11:30 AM - 11:50 AM Industry Perspective: Is the current TRACE reporting method sufficient or should it be delayed?

Chris White, CEO, ViableMKTS
Audience Participation
There is a consensus among market participants that as the Federal Reserve rise interest rates for the first time in almost a decade, buy side firms will find it increasingly difficult to transact large blocks should investors decide to flee the market. The contentious issue has divided opinion across the market, and this expert panel will debate both sides of the argument to let you decide for yourself if TRACE reporting should be delayed or not. Hear the panelists contest on issues including:

  • Implications of TRACE - Does it help or hinder liquidity?
  • Should TRACE be real-time or once a day - what are the pros and cons of each model?
  • Would a loosening of the disclosure requirements boost liquidity in the market?
  • Can block trading through TRACE be undertaken without giving away a firms position?

img

Chris White

CEO
ViableMKTS

Track C: Capitalizing On Diverging Global Policies

11:30 AM - 11:50 AM Economic Keynote: Global macro trends - Where will the key opportunities lie in 2016 and beyond?

David Page, Chief Economist, AXA Investment Mangement
  • What themes will dominate the fixed income agenda over the next 12 months and how can you steer your desk through these new changes?
  • What will be the political implications should Greece, and potentially the UK, leave the Eurozone?
  • What is the outlook for the FED, ECB and BoE policies as central banks operate at different stages of Quantative Easing?
  • Do diverging interest rate policies and currency prospects across different regions offer an opportunity to fixed income investors?

img

David Page

Chief Economist
AXA Investment Mangement

Track D: Buy Side Think Tank Invite Only

11:30 AM - 11:50 AM Exclusive Invite Only Buy Side Think-Tank

Dan Connell, Managing Director, Greenwich Associates
Buy side to buy side collaboration - Open to 15 Global Heads of Trading from America’s top 20 asset managers
img

Dan Connell

Managing Director
Greenwich Associates

Track A: Lifting The Lid On Global Regulation

11:50 AM - 12:30 PM 360° Perspective: How can regulators work to create a more coherent market structure which can promote transparency and liquidity in the US?

Kevin McPartland, Head of Market Structure Research, Greenwich Associates Joe Rosen, President, RKA Inc. Sean Davy, Managing Director, SIFMA Rich Mazzella, Former COO, Global Fixed Income, Citadel Asset Management Michael Noto, Fixed Income Ecommerce- Markets Strategic Investments, Barclays
  • 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?

img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates
img

Joe Rosen

President
RKA Inc.
img

Sean Davy

Managing Director
SIFMA
img

Rich Mazzella

Former COO, Global Fixed Income
Citadel Asset Management
img

Michael Noto

Fixed Income Ecommerce- Markets Strategic Investments
Barclays

Track B: Clarifying The Domestic Regulatory Agenda

11:50 AM - 12:30 PM Regulation Roundtables: Get to grips with the most pressing regulatory hurdles impacting your trading strategy

Mayra Rodriguez Valladares, Managing Principal, MRV Associates Chris White, CEO, ViableMKTS Paul Aston, CEO and Director, Txiall Global Advisors Stephen Humenik, Of Counsel, Covington and Burling

The regulatory bandwagon rolls on, and there are a number of different policies which have been put on the table which have been designed to increase transparency, improve trading protocols and ensure best execution. These roundtables are open to a maximum of 10 delegates each, to entice an open, interactive discussion and will be hosted by one subject matter expert. Network with your peers to establish best practice processes to overcome your biggest regulatory hurdle:

Roundtable 1: TRACE- How can TRACE be improved to increase transparency without hindering liquidity?
Chris White, CEO, ViableMKTS

Roundtable 2: MiFID II - What needs to be put in place now for US firms to prepare for MiFID II implementation?
Stephen Humenik, Of Counsel, Covington and Burling, formerly SEC

Roundtable 3: Unbundling - How will research and commission costs be broken down under the new reform and what will this mean for US markets?
Paul Aston, CEO and Director, Tixall Global Advisors

Roundtable 4: Dodd Frank and the Volcker Rule- What impact will this have on the buy side?
Mayra Rodriguez Valladares, Managing Principal, MRV Associate


img

Mayra Rodriguez Valladares

Managing Principal
MRV Associates
img

Chris White

CEO
ViableMKTS
img

Paul Aston

CEO and Director
Txiall Global Advisors
img

Stephen Humenik

Of Counsel
Covington and Burling

Finally, at the end of 2015, the FED raised interest rates, something that had been on the horizon for over 12 months. Now, the rate rise provides both challenges and opportunities, especially with diverging interest rate policies across the globe. During this session, our experts will provide insights on:

  • What impact will rising rates have on US markets and how can you benefit from the rate rise?
  • What will a rate rise combined with a stronger USD mean for global trading?
  • How can you successfully steer your desk through diverging interest rate policies across the globe?
  • Interest rates and sell offs - How can you reduce risk in your portfolio during stressed market conditions?
  • Will a rate rise in the US prompt other central banks to do the same?

img

Joseph Casteluccio

President of Capital Markets and Head of Trading
CG Capital Markets
img

Todd Finkelstein

Senior Fixed Income Portfolio Manager
Conning Asset Management
img

Hicham Hajhamou

Vice President
AQR Capital Management
img

Gabrielle Chabassol

Industry Expert
Banque de France
img

Lee Ferridge

Head of Macro Strategy, North America
State Street Global Markets

Track D: Buy Side Think Tank Invite Only

11:50 AM - 12:30 PM Stream continues

Lunch

12:30 PM - 2:00 PM Networking Lunch

Lunch

12:30 PM - 2:00 PM Buy Side VIP Lunch

Buy side heads have been confronted with a tsunami of new fixed income platforms over recent years, all claiming to have different USP’s and the magic combination to resolve the liquidity crisis. For buy side firms, deciding which platform and initiative to work with can be a tough challenge. This industry leading panel will provide insights on:
  • What progress has been made by key fixed income platform initiatives?
  • What functionalities make the most ideal fixed income trading platform, and how close are we to reaching this hybrid model?
  • What lessons could be learned from the equities platform boom many years ago and how is the fixed income market developing in comparison to this?
  • What protocols do new fixed income platforms need?
  • One year on - how have all the new platforms and electronic venues fared and have they met their goals?

img

Zack Ellison, CFA, CAIA

Director, US Public Fixed Income
Sun Life Investment Management
img

Alex Sedgwick

Vice President, Market Structure
T. Rowe Price
img

Dwayne Middleton

Executive Director, Head of US Fixed Income Trading
Morgan Stanley Investment Management
img

Anthony Cucinotta

Head of Trading
Capital Advisors Group
img

Anthony Perrotta

Partner, Global Head of Research and Consulting
TABB Group
img

Susan Estes

President & CEO
Opendoor Trading LLC

TRACK B: Challenging Current Broker Models

2:00 PM - 2:40 PM Oxford Style Debate: Do capital constraints mean an agency based market model is set to become the more dominant form of trading?

Kevin McPartland, Head of Market Structure Research, Greenwich Associates Michael O'Brien, Global Head of Trading, Eaton Vance Michael Sanderson, Managing Director, MOS Solutions Paul Aston, CEO and Director, Txiall Global Advisors , ,

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?

img

Michael O'Brien

Global Head of Trading
Eaton Vance
img

Michael Sanderson

Managing Director
MOS Solutions
img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates
img

Paul Aston

CEO and Director
Txiall Global Advisors
Historically, the buy side have always relied on the sell side for shepherding risk. However, due to capital constraints, the sell side cannot price risk and transfer it to their own balance sheet as freely as they could in the past. With the buy side now warehousing more risk on their books, they need to find new methods to manage this. This panel will provide thought leadership around:
  • How have capital constraints on banks impacted their ability to take on and price risk?
  • With the buy side now warehousing risk, is there enough liquidity in stressed market conditions?
  • If there was a major event, how could the buy side source funds and what needs to be done to source liquidity?
  • As the buy side can no longer rely on sell side balance sheets and prop desks, how can you find someone for the other end of a trade?

img

Sam Priyadarshi

Head of Fixed Income Derivatives
Vanguard
img

Jarred Sherman

Managing Director, Fixed Income Portfolio Manager
JP Morgan Asset Management
img

Lee Ferridge

Head of Macro Strategy, North America
State Street Global Markets

Irene Aldridge

Managing Director, Research and Development
Able Alpha Trading

Stream D: Women in Trading Think Tank

2:00 PM - 2:40 PM Women on Wall Street Think Tank: How can the fixed income industry better attract, develop and retain top female talent?

Irina Isaakova, Vice President and Director, TD Asset Management Mayra Rodriguez Valladares, Managing Principal, MRV Associates Leslie VanderVeen, Director, Public Bond Portfolio Management, Mutual of Omaha
This interactive seminar looks at what it means to be a woman in trading in 2016. Hosted by two prominent figures in the European trading space, discuss your concerns, aspirations and challenges and find solutions from your peers. The boardroom is limited to a maximum of 15 delegates to promote an open interactive discussion covering key points including: 
  • What does it means to be a woman in the fixed income industry in 2016? 
  • How is the industry addressing the aspirations of women to develop in leadership roles? 
  • How are firms showcasing female talent contributing in the financial sector? 
  • What more could be done by firms and the broader FI industry to attract, retain and promote women into leadership roles?
  • Sharing common challenges with your female peers and finding solutions to address them

img

Irina Isaakova

Vice President and Director
TD Asset Management
img

Mayra Rodriguez Valladares

Managing Principal
MRV Associates
img

Leslie VanderVeen

Director, Public Bond Portfolio Management
Mutual of Omaha
Audience Participation

As dealers have scaled back their operations and balance sheets, new platforms of all shapes and sizes have looked to fill this space and capitalize on the liquidity crunch, and different platforms have come to the fore to facilitate the transactions for various instruments. During this session, our panelists will provide expertise on:
  • What functionality and protocols of trading platforms are best suited to different types of trades?
  • Will new entrants and electronic innovation mean a decline of the traditional RFQ model in fixed income?
  • As eTrading and innovation goes on, what model will be the most dominant form of trading in 5 years time?
  • Have the new models away from RFQ led to necessary enhancements in fixed income markets, or has it just fragmented the market further?
  • Can a hybrid model of all three be created in the future?

img

Greg Heller

Director of Global Fixed Income Trading
MFS
img

Constantinos Antionades

Head of Fixed Income
Liquidnet
img

Mark Monahan

CEO
MTS Markets International
img

F. A. Romano

Head of BondPoint Institutional
KCG BondPoint
img

David Weisberger

Managing Director, Trading Services
Markit
img

Mike Nappi

Vice President, Investment Grade Corporate Bond Trading
Eaton Vance

TRACK B: Challenging Current Broker Models

2:40 PM - 3:20 PM 360° Perspective: How are Inter Dealer Brokers (IDB) reinventing themselves to offer additional value to the buy side?

Kevin McPartland, Head of Market Structure Research, Greenwich Associates Rich Winter, Senior Managing Director, Global Head of Sales, BGC Partners Ted Bragg, Managing Director, ICAP Americas Rich Mazzella, Former COO, Global Fixed Income, Citadel Asset Management

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?

img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates
img

Rich Winter

Senior Managing Director, Global Head of Sales
BGC Partners
img

Ted Bragg

Managing Director
ICAP Americas
img

Rich Mazzella

Former COO, Global Fixed Income
Citadel Asset Management

Stream C: Positioning Your Portfolio For Future Prosperity

2:40 PM - 3:20 PM 360° Perspective: The rise of Exchange traded funds (ETF) - How can ETFs be used within fixed income and what benefits do they bring?

Andrew McCollum, Managing Director, Greenwich Associates Rick Harper, Head of Fixed Income and Currency, Wisdomtree Asset Management Jean-Paul Sursock, Director, Blackrock Philip Cichlar, Senior ETF Sales Trader, New York Bill Ahmuty, Head of SSGA, SPDR Fixed Income Group (FIG)

Using exchange-traded funds (ETF’s) as a vehicle for bond investment has been on an upward trajectory. Investors are now becoming more comfortable with the ETF structure, and the poor results in stocks over recent years have sent investors towards the safe haven of bond ETF’s. During this session, our ETF experts will shed light on:

  • Equity ETF’s vs Bond ETF’s- What lessons can be learned from the equities space and where do the key differences lie?
  • How can you incorporate ETF’s in your fixed income portfolio alongside more traditional products?
  • What are the systematic risks when using fixed income ETF’s and how can you minimize this risk?
  • What electronic solutions can assist you when trading fixed income ETF’s?

img

Rick Harper

Head of Fixed Income and Currency
Wisdomtree Asset Management
img

Jean-Paul Sursock

Director
Blackrock
img

Andrew McCollum

Managing Director
Greenwich Associates
img

Philip Cichlar

Senior ETF Sales Trader
New York
img

Bill Ahmuty

Head of SSGA
SPDR Fixed Income Group (FIG)

Stream D: Women in Trading Think Tank

2:40 PM - 3:20 PM Stream continues until 3:00 PM



Stream A: Navigating A Fragmented Platform Universe

3:20 PM - 3:40 PM Industry Perspective: New frontiers in OMS - Are current offerings sophisticated enough to cope with demands for increased eTrading?

Karl Kutschke, Senior Director, Charles River Development
With new regulations, a changing market structure and increasing compliance demands, ensuring you have an OMS system which is fully up to date and can cope with all of these changes is vital. This expert session is dedicated to giving you the knowledge on exactly what you should be expecting from your current OMS provider, and outlining what systems can cope with current market demands. Listen to this subject matter expert and learn:

  • How can you establish if your current OMS system is sufficient enough to meet the demands of increased risk and electronic trading? 
  • How can OMS systems adapt to incorporate new platforms for connectivity to your current OMS? 
  • How are the buy side replacing or upgrading their OMS to address demands across the new market structure? 
  • EMS developments - Is the level of electronic trading in fixed income sufficient enough to create a robust EMS system?

img

Karl Kutschke

Senior Director
Charles River Development

TRACK B: Challenging Current Broker Models

3:20 PM - 3:40 PM Industry Perspective: High Frequency Trading firms (HFTs) in fixed income- How are they approaching markets and what does this mean for the market structure?

Irene Aldridge, Managing Director, Research and Development, Able Alpha Trading
HTF firms are synonymous with other asset classes such as equities and FX, however there has been a recent increase in the number of HFTs working within the realms of fixed income as markets have become more electronically driven. This keynote presentation from one of the top HFT experts will provide expert insights into the inner workings of High Frequency firms, where they will shed light on: 
  • Where do HFTs position themselves within fixed income trading spectrum and how are they performing? 
  • How will the impeding interest rate rise benefit HFTs as they look to capitalize on the swing in market conditions? 
  • How do HFT trading strategies in US fixed income markets differ in comparison to equity markets and is it good or bad for the market as a whole? 
  • The future of futures- Does the futures market offer the best avenue into fixed income for HFTs as one of the most liquid and commonly traded products? 
  • Could we see HFT firms move from the treasury market into the corporate market or is it too illiquid?

img

Irene Aldridge

Managing Director, Research and Development
Able Alpha Trading

Stream C: Positioning Your Portfolio For Future Prosperity

3:20 PM - 3:40 PM Fireside Chat: How can the new issuance process be reformed into a smoother, more efficient service?

Herb Werth, Managing Director, Global Head of Buy Side, IPREO Josh Barrickman, Head of Bond Indexing, Vanguard

The new issuance process can be long and laborious, and the negative overall market view centers around the lack of transparency throughout the entire process. This market leading panel will firstly provide more clarity on the new issuance process, as well as provide solutions to a more efficient, transparent model. Attend to learn:

  • What is the full life cycle of the new issuance process and how can this be made more efficient?
  • Can the entire new issuance process be standardized for a faster more reliable service?
  • How can transparency with both buy side and sell side firms be increased for the new issuance process?
  • How can you determine what new issues are suitable for your investment processes?
  • What technology can help with the new issue process?

img

Josh Barrickman

Head of Bond Indexing
Vanguard
img

Herb Werth

Managing Director, Global Head of Buy Side
IPREO

3:40 PM - 4:10 PM Afternoon Networking Break



Innovation Spotlight

4:10 PM - 4:20 PM Innovation Spotlight: Building a connected ecosystem- Connecting Market Participants in the Evolving Landscape of Capital, Liquidity and Leverage Requirements

Ganesh Iyer, Director Global Marketing and Thought Leadership, IPC Systems

img

Ganesh Iyer

Director Global Marketing and Thought Leadership
IPC Systems

Become A Liquidity King

4:20 PM - 4:40 PM Sell Side Keynote: Combating the secondary market liquidity crunch- How are banks reinventing their business models to better meet your needs in light of Dodd Frank and Basel III increasing capital demands?

Mike du Plessis, Managing Director, Global Head FX, Rates & Credit Execution Services, UBS Investment Bank
  • How is the sell side optimizing their capital in a less liquid more regulated and lower return world to better support the buy side?

  • What types of e-trading technology is the sell side using to maximize efficiency of their dealing activity and pass on cost savings to the buy side?

  • In light of the move from a principal model of trading to an agency, broking-centric trading model which players are leading the way in offering the buy side innovative solutions?

  • As the sell side deal with the costs of regulation, what types of products and services should the buy side expect to see from their tier I and tier II brokers?


Mike du Plessis

Managing Director, Global Head FX, Rates & Credit Execution Services
UBS Investment Bank
Fixed income trading is being re-shaped, partly by regulation, and partly by innovation. On the sell side, regulation has led to a 70% drop in bond inventories, yet the stock of fixed income assets outstanding has doubled on the back of years of low interest rates. All in all, this has led to major liquidity shortages as fixed income traders have had to become accustomed to an era of trading in an environment dearth of liquidity. This panel, led by leading fixed income experts, will shed light on:
  • Evolution - How has liquidity evolved across the full trading spectrum over the last 12 months with new regulation, increased eTrading and new platforms?
  • Partnerships - How can you leverage new relationships to improve your access to new liquidity pools in liquidity constrained markets?
  • Innovation - How can technology be used to bring a fragmented liquidity market back together and build a more efficient eco-system?
  • Verify - What measurements can you undertake to establish if you have actually improved your access to liquidity?

img

Brett Chappell

Head of Fixed Income Trading
Nordea Investment Management
img

Erik Tumasz

Managing Director, Fixed Income Trading Technology
Wellington Management Company
img

Stu Taylor

Chief Executive Officer, CEO
Algomi
img

Chris White

CEO
ViableMKTS
img

Gherardo Lenti Capoduri

Head of Market Hub
Banca IMI

5:20 PM - 5:25 PM Chairperson’s closing remarks

Kevin McPartland, Head of Market Structure Research, Greenwich Associates

img

Kevin McPartland

Head of Market Structure Research
Greenwich Associates

5:25 PM - 11:59 PM Cocktail Drinks Reception hosted by Citadel Securities