Join us on November 10-11, 2020
09:25 – 09:30
Chairperson's opening remarks
09:30 – 10:10
A macro perspective on the FX
- What new liquidity providers are shaking up the FX markets, and how to maximise the partnership?
- Technology revolution and its implication on the Chinese domestic capital market
Senior Emerging Markets Strategist
Based out of Singapore, Mitul Kotecha is a TD Securities Senior Emerging Markets Strategist with a wealth of experience. His career as a strategist and economist extends over 25 years and across offices in London, Hong Kong, and Singapore. Prior to joining TD Securities, Mitul held the position of Head of FX and Rates Strategy for Asia-Pacific at Barclays, and prior to that, served as Head of Global FX Strategy and Head of Asia Research at Credit Agricole CIB.
Mitul has developed strong client relationships across the region focusing on Asian macro strategy and global emerging markets. His coverage of financial products spans bonds, interest rates, equities, and foreign exchange. Mitul has been highly ranked in various FX research and forecasting polls including FX Week, Bloomberg, Reuters, and Asiamoney.
He is a frequent speaker at various economic and financial global conferences, is regularly consulted by the media for views on markets and economies, has given a TEDX talk, and authored the book “Chronology Of A Crisis.” Mitul has appeared on business channels such as CNBC and Bloomberg TV and is regularly quoted in the Financial Times, Wall Street Journal, Reuters, Bloomberg, Associated Press, and Dow Jones.
Mitul holds a Masters of Science Degree in Economics and Finance from the University of Warwick and an Honours Degree in Economics.
Head of Asia Research
<p>Khoon is the Head of Asia Research for ANZ. He oversees and co-ordinates the Asia economics and strategy research functions in Singapore. His particular area of focus is on Asian currencies. Khoon actively travels to market ANZ's views to investor clients, such as central banks, hedge funds and real money; as well as corporate clients. He also appears regularly in the media. ANZ's Asia research team have been ranked in the top two for FX Research and Market Coverage as voted by financial institutions in the AsiaMoney FX Poll in the last five years (2012 to 2016). ANZ was also ranked second for best regional team for Asian macroeconomic research in the AsiaMoney Fixed Income Poll 2016, and ranked first for three years running in the KangaNews Fixed-Income Research Polls between 2015 and 2017 for best research on Asian markets. ANZ was the top EM Asia FX forecaster in 2015 and 2016 as ranked by Reuters. Khoon has over 15 years of experience working in various economic and strategy roles across both the public and private sectors. Graduating with a Master of Commerce (Hons) degree majoring in International Economics from the University of Auckland, Khoon was the Manager in charge of the New Zealand Treasury's Macroeconomic Forecasting Team where he was responsible for producing the official government forecasts that underpin the Budget and key policy decisions. He also served as an Economic Adviser at the Reserve Bank of New Zealand.</p>
10:10 – 10:25
10:25 – 10:55
The future of global code: Can it remain voluntary?
- Rationalising buy-side adoption of the global code: hesitations and drives
- A closer look at the risk, execution and compliance by abiding the code
- Forecast on the markets buy-in: will the code be regulated after all?
10:55 – 11:10
11:10 – 11:40
The evolving counterparty risk in FX: Best practices and forward-looking perspective
- How is counterparty risk evolving in the eyes of different market players?
- Are you ready for UMR phase 5 and 6? What are the roadblocks?
- What are the drivers motivating institutions to clear their FX?
- How can clearing sufficiently mitigate risk exposures and the impact of regulatory requirements?
- Hong Kong as a major FX hub and RMB intermediation centre
ED, Head of In-Business Risk
Standard Chartered Bank
Sumaiya Choudhury is the head of In-Business Risk for the Prime Brokerage business at SCB. She has 17 years of global banking experience, specializing in market and credit risk in Fixed Income and Commodities markets. At SCB, she led Market & Traded Credit Risk function for the global commodities and house clearing business. Prior to SCB, she ran market risk for Credit Suisse’s commodities trading desk in London and the FICC market risk team in Bear Stearns in New York. She has extensive experience in portfolio, market and credit risk management, having managed own desk and client portfolios during the Global Financial Crisis. Sumaiya is based in Singapore.
11:40 – 12:15
Emerging markets in Asia post COVID-19
- Post COVID: what currencies/markets are going to be the biggest winners in 2021 and beyond?
- Investor’s view: accessing regulatory changes, pitfalls and potentials in emerging markets
- A hindsight view of emerging-market currencies: how are currencies coping during pandemic and economic downturn, and which currencies shine?
- Central bank’s case study: how is Malaysia coping with the pandemic test of trading continuity?
Head, ASEAN & South-Asia FX research
Divya is Head of ASEAN & South-Asia FX research for Standard Chartered Bank, based in Singapore. He joined Standard Chartered in 2010 and provides views on the latest developments in FX markets. He also recommends trade ideas and hedging strategies for institutional and corporate clients. He is quoted regularly in the media on financial-market developments. Prior to his current role, he was a G10 FX strategist for the Bank. He holds a Bachelor’s degree from Indian Institute of Technology Guwahati, and an MBA from Indian Institute of Management Calcutta. He is also a CFA charterholder.
Managing Director & Head of Fixed Income Research
Bank of Singapore
Todd Schubert is a Managing Director and Head of Fixed Income Research for Bank of Singapore. He joined the Bank’s predecessor ING Asia Private Bank in 2008. Prior to that he was Head of Asian Fixed Income Research at Deutsche Bank as well as a Global Credit Portfolio Manager with the Government of Singapore Investment Corp. During his more than 30 years of Investment Experience Todd has also worked for a number of major U.S. Financial Institutions including USAA and GE Asset Management. Todd has an MBA from the Booth School of Business at the University of Chicago and a Bachelor’s Degree from UCLA. He is CFA certified.
12:15 – 12:30
12:30 – 13:00
The APAC’s shifts and current status on IBOR reform
- What are the different stages of development on interest rate reforms in APAC and reference to FX market?
- Assessing the impact with new benchmarks
- Up-to-date priorities among regulators and future movements to watch for
13:00 – 13:00
End of FX Markets Asia day one
09:25 – 09:30
Chairperson's opening remarks
09:30 – 10:10
Algos and the drive into FX markets
- Is there still room for innovation in eFX?
- Is artificial intelligence a hype or practical tool in forecasting?
- Which algo solutions are proven the most effective?
- Addressing the limits of algorithm and automation in macro events
- What are the technological advancements and regulatory changes to look out for to keep your trading desk agile in the face of change?
Head of Trading FX, Asia
Leo Tay is a managing director and head of FX trading, Asia with ING Bank in Singapore. He leads a team of FX, swaps, NDFs and options traders based in five locations, and he also oversees Asian trading activities in London. He is also responsible for eFX trading and the electronification of the Asian FX business.
Leo holds an MSc in financial mathematics from Technische Universität Kaiserslautern, Germany and BSc/BA in management engineering and economics honours from the Ateneo de Manila University, Philippines.
10:10 – 10:25
10:25 – 10:45
10:45 – 11:15
Evaluating the quality of Asia’s FX liquidity amid the rise of eFX in a compressed margin environment
- Latest trends, breakthroughs and innovation in eFX
- Finding alternative sources of liquidity through electronification of FX – how is liquidity quality different across various sources?
- New metrics in searching and evaluating new e-FX liquidity providers
- How institutions should use analytics to understand the quality of liquidity they aggregate and optimise liquidity provider selection
11:15 – 11:30
11:30 – 12:00
The new face of digital assets: How will cryptocurrency spur innovation?
- Liquidity in FX markets is trenched from wholesale bank/ECN's all the way down to retail. How is this liquidity profile similar or different in crypto markets?
- FX trading infrastructure has had decades of refinement in latency and throughput. How does crypto trading infrastructure compare?
- FX derivatives markets include binaries, KIKO's, accumulators, and other exotic products. Why don't these exist yet in crypto and what is missing?
- Prime brokerage is relevant in FX for credit intermediation and liquidity distribution. How does the role of prime intermediaries work in crypto and how are they evolving?
Three Arrows Capital
Three Arrows Capital is a hedge fund manager founded in 2012 by Kyle Davies and Su Zhu. It focuses on crypto trading and principle investing, including recent strategic investments in Deribit and Blockfi. Prior to 2012, Kyle was a derivatives trader at Credit Suisse in Hong Kong.
Darius is co-founder and Managing Partner at QCP Capital, a digital asset trading firm headquartered in Singapore. Formerly a Macro Trader at Dymon Asia Capital, he spent years trading cross-asset derivatives with a focus on Asian FX/NDFs and model-based strategies before moving on to manage the Asia FX & Bonds book at BNP Paribas in New York.
12:00 – 12:15
12:15 – 12:45
China's FX Market
12:45 – 13:15
How corporate treasuries can optimize its hedging & FX strategy in today’s market
- How are corporates can overcome geopolitical risks and the changing regulatory environment on a daily basis
- Funding through low yield currencies and risks embedded in such strategies, especially pertinent in EMs where companies fund using EUR/JPY/USD and face substantial pressures when EM FX shows adverse moves
- How should corporates adapt to increased digitalization?
- What is the future of FX liquidity in Hong Kong whilst London stands tall? What needs to adjust on liquidity perspective? Exchange rate model
- Evolution of financial centres in Greater China
Senior Emerging Markets Economist, Asia
Hao Zhou currently serves as a senior emerging markets economist at Commerzbank Singapore, covering economics research and FX strategy for the North Asia region.
Prior to this role, he spent eight years with ANZ banking group as a senior China economist based in Shanghai.
He is a consultant for China’s State Council and Monetary Policy Committee of People’s Bank of China. He is also a senior fellow of the China Chief Economist Forum. Hao appears regularly on global media, and has presented at numerous investor conferences.
Hao was awarded Economist of the Year (2017) by China Business News and also top China forecaster according to a Bloomberg survey (2016, 2017).
13:15 – 13:15