Chris White

• When evaluating platforms, what are the key areas you should be testing and looking out for?
• What different platform models can help you prosper in a new electronic environment?
• How can you establish what platform is best suited to fit into your current workflow?
• What questions should you be asking to fully understand the pros and cons of each initiative?

• An introduction to each platform today - What is their USP that is not offered anywhere else?
• How can the initiatives help you source new liquidity pools in liquidity constrained markets?
• Where are the new platforms up to in their onboarding life cycle and how successful has the process been?
• What different eTrading protocols are available to the buy side and what benefits do they bring?

Audience Interaction - Complimentary drinks will be served during this final session

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?

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?

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

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?