Programme 2020

Programme 2020

FX Markets Australia Virtual | Programme 2020

Conference starts at 09:25AM AEST

09:2509:30

Chairperson's opening remarks

09:25 - 09:30

Keith Sedergreen

President

ACI Australia

Keith Sedergreen is President of ACI Australia, a voluntary role has held since 2016 and is Vice-Chair of ACI’s Global Committee for Professionalism. Keith joined the FX market at M W Marshall in London in 1978 as a broker on FX Swaps. He also has experience in IR derivatives and energy markets. His career took him to New York, Johannesburg before arriving in Sydney in 1986.  He returned to London in 1990 before moving to Tokyo as MD of Hatori-Mashall and returning to Sydney in 1997 as MD of M W Marshall and Co. and then had various MD roles finishing with BGC Australia at the end of 2018. As well as sitting on the Australian Foreign Exchange Committee, Keith has helped in the development of the ACI Australia Dealing Simulation which has been run in 20 different global locations. Keith recently graduated from the AICD. He believes the Foreign Exchange Global Code will help build a trusted, fair and transparent market for all participants.

09:3009:55

Keynote address

10:10 - 10:40

Guy Debelle

Deputy Governor

Reserve Bank of Australia

Dr Guy Debelle commenced as Deputy Governor of the Reserve Bank of Australia on 18 September 2016. He is Deputy Chair of the Reserve Bank Board and Chair of the Reserve Bank's Risk Management Committee. Prior to his current role, Dr Debelle was the Assistant Governor (Financial Markets).

In May 2019, Dr Debelle was appointed Chair of the Global Foreign Exchange Committee (GFXC). Prior to this, he was Chair of the BIS Foreign Exchange Working Group responsible for the development of the Global Code of Conduct for the Foreign Exchange Market as well as Chair of the Australian Foreign Exchange Committee.

Dr Debelle worked at the International Monetary Fund, Bank for International Settlements, Australian Treasury and as a visiting professor in economics at the Massachusetts Institute of Technology (MIT). He graduated from the University of Adelaide with an honours degree in economics and gained his PhD in economics at MIT under Stanley Fischer and Rudi Dornbusch.

Dr Debelle is a signatory to The Banking and Finance Oath.

09:5510:35

The future of global code: can it remain voluntary?
Fireside chat

09:30 - 09:50

  • 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?
Guy Debelle

Deputy Governor

Reserve Bank of Australia

Dr Guy Debelle commenced as Deputy Governor of the Reserve Bank of Australia on 18 September 2016. He is Deputy Chair of the Reserve Bank Board and Chair of the Reserve Bank's Risk Management Committee. Prior to his current role, Dr Debelle was the Assistant Governor (Financial Markets).

In May 2019, Dr Debelle was appointed Chair of the Global Foreign Exchange Committee (GFXC). Prior to this, he was Chair of the BIS Foreign Exchange Working Group responsible for the development of the Global Code of Conduct for the Foreign Exchange Market as well as Chair of the Australian Foreign Exchange Committee.

Dr Debelle worked at the International Monetary Fund, Bank for International Settlements, Australian Treasury and as a visiting professor in economics at the Massachusetts Institute of Technology (MIT). He graduated from the University of Adelaide with an honours degree in economics and gained his PhD in economics at MIT under Stanley Fischer and Rudi Dornbusch.

Dr Debelle is a signatory to The Banking and Finance Oath.

Susan Buckley

Managing Director Liquid Markets

QIC

With over 30 years’ experience in global financial markets, Susan leads QIC’s Liquid Markets Group (LMG) in the management of a diverse range of global listed market solutions for QIC’s clients. LMG manages $26 billion in cash, fixed income and absolute return portfolios and over $70 billion* in overlay exposures on behalf of clients. LMG undertakes research, portfolio construction, ESG integration, risk management and best execution across cash, fixed income, credit, inflation, FX, equity derivatives and commodity markets, enabling LMG to offer specialised solutions across active management, asset rebalancing and exposure management, liability matching, hedging and downside protection.

Before joining QIC in November 2001, Susan held strategy and portfolio management positions as Senior Vice President at Bankers Trust Funds Management, Head of Strategy for NRMA Asset Management and Manager, Fixed Interest, at Suncorp Investment Management. Earlier in her career, Susan worked as an economist for National Australia Bank and was Director, Foreign Exchange Services with Syntec Economic Services.

Susan has a Bachelor of Economics (University of Queensland), a Graduate Diploma in Economics (University of Melbourne), an MBA (University of Queensland) and is a member of Chief Executive Women. Susan was recently recognised for her contribution to the finance sector being awarded the University of Queensland Vice-Chancellor’s Alumni Excellence Award, October 2017.

* Figures as at 31 July 2020.

David Mercer

Chief Executive Officer

LMAX Group

David Mercer is the Chief Executive Officer of LMAX Group – is a leading player in global financial markets. LMAX Group operates multiple institutional execution venues for trading FX and crypto currencies.

David is a former City banking executive and currency specialist, with an extensive track record of building profitable, innovative, high growth businesses, ranging from start-ups to turn arounds of growth-stage companies.

He joined LMAX Group as chief executive in 2011 and led the successful management buyout of the company in 2013. Since then, he has built LMAX Group into a global brand in financial markets and a leading operator of institutional FX exchanges. LMAX Group has been recognised as one of the UK’s fastest growing technology companies.

Prior to joining LMAX Group, David was CEO at Cantos, Non-Executive Director at Velocity Trade and COO of the Emerging Markets business at Credit Suisse. He has also held senior executive roles at IFX Markets and Saxo Bank (Synthesis Bank) in London, Geneva and Sydney. David started his financial services career in the Banking and Regulatory division of Ernst & Young in 1989.

10:3511:15

Overview of benchmark reforms and the impact on clearing
Panel discussion

10:40 - 11:20

  • Paradigm shift in FX benchmarking: the death of LIBOR
  • Assessing the impact on clearing from new benchmarks (RFR)
  • Key priorities regulators will be assessing and what it means for market participants
Brett Elvish | Moderator

Founder

Financial Viewpoint

Brett Elvish is Founder and Director of Financial Viewpoint; established in 2007 providing business and operational management advice for asset owners and asset managers.

Brett has more than 30 years’ experience in investment management, investment consulting and investment operations.  Over the past 20 years, Brett has been an advisor to many of Australia’s largest asset owners and asset managers.  Brett is a Life Member and former Chair of the CIMA Society Australia and has supported ASFA over 3 decades including in the role of Deputy Chair of the ASFA Economics and Investment Policy Council.  Brett is a CFA charterholder, and has a B.Com. and MBA from University of Melbourne.

Nathan Bourne

Senior executive leader, market infrastructure

ASIC

Nathan leads ASIC’s Market Infrastructure team. The team supervises Australian market licensees and operators, clearing and settlement facilities, Australian derivative trade repository operators, benchmark administrators and credit rating agencies. The team also examines new market and clearing and settlement proposals. Previously, Nathan has held senior leadership roles in ASIC’s Market Supervision and Market Infrastructure teams. Nathan has more than 20 years’ experience in financial markets, regulation and public policy. Most recently, he was the Director of Wholesale Compliance at the National Australia Bank. He has also held roles at the Reserve Bank of Australia, the Australian Treasury, the UK Financial Services Authority (now the Financial Conduct Authority) and Mitsubishi UFJ Securities in London. Nathan holds a Bachelor of Economics (Honours) and a Graduate Diploma in Applied Finance and Investment.

Yu Zhang

Managing associate

Allens

Yu is a Managing Associate in the Banking & Finance practice group at Allens. He advises borrowers and lenders on a broad range of finance transactions and global markets issues, including in relation to derivatives and GMRAs. He is currently working with a major Australian bank on its LIBOR transition.
Yu is a regular speaker on behalf of the International Swaps and Derivatives Association, Inc and the Asia Pacific Loan Market Association. He completed his Masters of Law at Cambridge University in 2009 with a focus on private law, and his Masters of Law at Harvard University in 2010 with a concentration in corporate governance and financial regulation.

David Love

General Counsel & International Adviser

Australian Financial Markets Association

David is the General Counsel & International Adviser at the Australian Financial Markets Association.  In this role he works with AFMA members on public issues that affect the operation of financial markets.  This work involves close consultation with AFMA members, the government and financial sector regulators both in Australia and internationally.  His current focus is on conduct standards, application of fintech to documentation and transaction systems, financial benchmarks and capital markets regulation, and global financial market structures.

Previously, David worked for over a decade in senior policy positions with the Australian Treasury and is an expert on financial market regulation through having advised governments on successive reforms in this area.  David has also been a consultant for the World Bank and the Asian Development Bank on financial sector legal reform projects in Vietnam and Cambodia.  David began his career as a banking and finance lawyer working for a number of years in Japan before returning to practice in Australia.

11:1511:30

Morning networking break

10:40 - 10:55

11:3012:10

Future proofing quant and algorithms in FX - driving towards a sustainable future
Panel discussion

11:40 - 12:20

  • Current applications of algo trading and quant analysis in institutional portfolios
  • Have buy side utilized algo and quant in maximizing performance driven FX trading?
  • Given the increased amount of FX data, how have institutions benefited from a wider use of data mining and machine learning techniques for useful analysis
  • How should banks supervise their electronic market-making activities to embrace the growing prevalence of algo FX?
John Feeney | Moderator

Partner

Martialis Consulting

John Feeney manages Martialis Consulting working on financial markets product and infrastructure. He has been in financial markets for over 30 years in trading and management roles across most asset classes. Prior to joining NAB, Mr. Feeney has worked for Commonwealth Bank in Sydney, Citi in Sydney and London and Macquarie Bank in Sydney. Over this time he has traded and managed interest rate derivative, foreign exchange, traded credit, commodities and funding businesses.

Recently, Mr. Feeney has been an ISDA Board Member and Vice-Chairman and an AFMA Board member.

Mr. Feeney has a PhD and BSc (Hons) from University of Sydney.

Bill Goodbody Jr

Chief operating officer

AE Capital

Bill Goodbody, Jr. is the Chief Operating Officer and advisor to the Board of AE Capital. Bill is responsible for Risk & Compliance, Investor Relations and all day-to-day operations of the business. 

Bill has 25 years of experience in the financial services industry and joined AE Capital in November 2017.

Prior to joining AE Capital, Bill was Senior Vice President & Head of Foreign Exchange at Bats Global Markets, Inc. in New York. Bill joined Bats in March 2015 as part of its acquisition of the Hotspot FX business from KCG Holdings, a business that Bill led since 2008. Before Hotspot, Bill spent more than 15 years in senior leadership roles within the Equities businesses of KCG Holdings, Knight Capital Group and Jefferies & Company.

Bill was a founding member and Secretary of the Foreign Exchange Professionals Association (FXPA), an organisation which represents the interests of FX industry participants. Bill has also previously served as a director on the boards of NSX Holdings, Inc., and the National Stock Exchange, Inc., an electronic stock exchange in the United States.

Bill has a Bachelor of Arts in Government from Georgetown University.

Lidija Leko

Executive Director, Fixed Income Technology APAC

UBS

After completing a degree in Computer Science and International Management at Sydney's University of Technology I joined UBS as a graduate developer building Fixed Income pricing, trading and risk management applications.

In 2001 I spent a year in London with the global Securities electronic trading technology team then returned to Sydney to build out the offering in Sydney, Tokyo, Singapore, Hong Kong and China along with expansion into derivatives and eventually algorithmic.

In my current role I am responsible for Fixed Income technology for the region and globally for our market making, pricing and execution platform in Rates and Credit.

Peter Pontikis

Investment Manager – Macro & FX Overlay

Private Wealth & Institutional Asset Management Services

Peter Pontikis is a Fintech and Treasury Investment Management professional has close to 40 years’ buy and sell side experience in Australian, Indian & SE Asian financial markets.

With the first three decades focused on investment, corporate dealing, trading and research experience in currencies and global financial markets. Until 2005 he also ran a consultancy advising Asian central banks and fund managers. Aside from several degrees in Finance and Economics, he is a Fellow of CPA Australia and Senior Fellow of FINSIA and has authored several books on foreign exchange and trading in financial markets as well as producing training material on Chinese Financial Markets.

The focus of the most recent decade+ of his ongoing career has been in the private wealth management space including as Investment director (and investor) in a Mid-Cap Indian equity and adviser to several high/Ultra high net worth clients and their family offices.

12:1012:50

Outlook for global FX markets in post covid 19 world & Changing dynamic geopolitical landscape
Panel discussion

12:10 - 12:50

  • The impact of the Covid 19 Pandemic, US-China trade war, Brexit and other geopolitical events on FX markets
  • FX markets in the 2020 recession: how will central banks and governments respond to Covid 19?
  • Fate of the AUD, RMB and USD in 2020 and beyond
  • US Election – how a Trump or Biden result will shape the markets in November
  • Repercussions on the AUD with the China v Australia trade dispute
Su-Lin Ong | Moderator

Chief Economist

RBC Capital Markets

Su-Lin Ong is a Managing Director of RBC Capital Markets, Chief Economist & Senior Relationship Manager. She has led the Economics & Fixed Income Strategy team for AU/NZ since 2010 and was Head of AU Research, including oversight for equity research, from 2015 to 2019.  In August 2019, she began a newly created role to help foster senior relationships with RBC’s key clients.

Su-Lin is part of the global strategy team with primary responsibility for formulating and presenting RBC’s AU/NZ macroeconomic outlook, cash rate view and bond yield forecasts. Based in RBC’s Sydney office, she works closely with sales and trading across fixed income, currencies, and equities in Australia as well as key RBC offices across the globe. Prior to joining RBC in 1998, Su-Lin was a fixed income economist for Hambros Bank and before that worked as an economist at the Department of Prime Minister & Cabinet in Canberra.

She is a former Director of Business Spectator and the NSW/ACT FINSIA Regional Council.  Su-Lin is an Executive Member of The Australian Business Economists, CEDA’s Economic Policy Committee, and sits on the Women in Banking and Finance Board. She is also a founding member of RBC’s Diversity Council, RWomen Committee and actively involved in their mentoring and charity programs including Lou’s Place and Ronald McDonald House, Randwick. She is an ambassador for the RBA’s Women in Economics initiative and supports a number of initiatives aimed at building pipeline economic talent, especially female. Su-Lin regularly represents RBC at various industry, policy, and education forums. She holds a BEc from the University of Sydney, Post Graduate in Applied Finance and Investment from the Securities Institute of Australia, is a Fellow, FINSIA, and scholarship recipient and recent graduate of the Australian Institute of Company Directors.

Alex Joiner

Chief economist

IFM Investors

Dr Alex Joiner is the Chief Economist at IFM Investors and also sits on its Investment Committee. He is responsible for the firm’s economic, financial market, policy and geopolitical analysis and forecasting that underpin its investment and portfolio management processes. He represents IFM with domestic and global clients as well as with governments, central banks, financial institutions and corporates. He has over 15 years professional experience and prior to joining IFM Investors, Alex was the Chief Economist (Australian & New Zealand) at Bank of America Merrill Lynch, a senior economist at ANZ Bank and an economist at the Victorian Department of Treasury. He holds a First Class honours degree in Economics and a PhD in Econometrics from Monash University. Alex is a committee member of Australian Business Economists and sits on the UN-supported Principles for Responsible Investment Macroeconomic Risks Advisory Group.

Alan Oster

Group chief economist

National Australia Bank

Alan Oster is NAB’s Group Chief Economist. Alan joined the Bank in 1992 from the Federal Treasury where he worked for 15 years - his special field being economic forecasting and monetary policy. He grew up in Newcastle and graduated (with first class honours) in economics from Newcastle University. He also holds a Masters degree in economics from the Australian National University. Immediately before joining the Bank, Alan was the Senior Adviser in Treasury responsible for economic forecasting and modelling. In 1987 he was seconded for nearly four years as Counsellor-Economic and Financial with Australia’s delegation to the Organisation for Economic Co-operation and Development in Paris. As Group Chief Economist, Alan is responsible for NAB’s global economic and financial forecasts. He is also a highly respected and much quoted commentator on Australian and global economic trends and policy issues.

Daniel Been

Head of FX and G3 research

ANZ

Daniel is the Head of FX and G3 Research for the ANZ Bank. His team is responsible for forecasting the outlook for the major global economies and FX markets. In particular they focus on what the major macro trends evolving offshore mean for ANZ’s core markets in Australasia. More particularly, Daniel’s research focuses on exploring the impact of the global cycle on broad market trends, with a specific focus on the USD and AUD.
He provides advice across all client segments of ANZ. Since joining ANZ the team has consistently achieved strong ratings for AUD research in the Kanganews, Asiamoney and Peter Lee surveys.

Daniel has more than a decade of experience in financial markets, working in funds management, banking and the public sector.

Besa Deda

Chief Economist

St. George Bank

Besa Deda is the Chief Economist of the St.George Banking Group, which includes St.George, Bank of Melbourne, BankSA and RAMS. Besa has been in this role since 2008.

As the Bank’s economic spokesperson, Besa is responsible for research on the economy and financial markets. She formulates views and forecasts on the outlook for the economy, interest rates and currencies and manages a team of economists. Besa gives regular presentations and often appears in the media reporting on economic conditions.

Prior to this role, Besa held Senior Strategist and Economist roles with the Commonwealth Bank covering fixed income, foreign exchange, macroeconomics and equities. Besa was with the CBA for nearly 8 years and before that was an economist with the Colonial Group.

Besa is the Secretary for the Australian Business Economists’ Association, is a member of the Melbourne Economic Forum, has previously written a regular property column for The Australian newspaper and lectured for FINSIA.

12:5012:50

Virtual day one ends

11:45 - 11:46

09:3009:50

How a leading Australian Institution navigated the recent pandemic crisis
Guest speaker presentation

09:45 - 10:25

  • Closer look at how the fund was positioned before the crisis, during and now after
  • Lessons learnt during the stress event
  • Stress testing - did the systems in place react as planned?
  • How the fund managed the FX Risk and Exposure in the turbulence in March and beyond
Jarrad Hose

Head of Implementation

VFMC

Jarrad has over 20 years of experience within the Investment and Superannuation Industries, joining VFMC in 2007 where he has undertaken several roles across the organisation.  In 2009 Jarrad established the Implementation function, developing a team responsible for liquidity, exposure and FX management.   Prior to VFMC Jarrad worked in an investment role at Emergency Services and State Super.

Jarrad holds a Bachelor degree in Business (achieved with distinction) from RMIT.

09:5010:30

Asset owner think tank: Investing and FX in a Challenging new World
Panel discussion

09:50 - 10:25

  • How the super funds have fared in the wake of the Covid 19 Pandemic?
  • How are superannuation funds diversifying their holdings and boost returns in the low interest rate environment?
  • Why are some funds increasing their offshore holdings but hedging less of their FX exposure?
  • Will they continue to invest offshore in the current climate?
  • How are the increased investments in private capital markets going to affect funds’ overall FX exposure control?
  • Active approach to currency management: alpha generating or risk mitigating?
  • Using target foreign currency exposure vs. traditional hedging ratios
Simon Sukhaseume | Moderator

Vice President, Senior Portfolio Manager

State Street Global Advisors (SSGA)

Simon is a Senior Portfolio Manager and Head of Currency, Asia Pacific ex-Japan for State Street Global Advisors. His responsibilities include the management and development of currency strategies for SSGA's institutional clients in the Asia Pacific ex-Japan region.

Prior to commencing his current role, Simon was responsible for currency trading and portfolio management of asset allocation and currency portfolios at SSGA, Australia. When Simon joined SSGA in September 1997, he was an Assistant Operations Manager. Prior to that role he worked at State Street Australia, Limited as a Portfolio Administrator for two years.

Simon has received a Bachelor of Commerce degree from the University of Western Sydney, Macarthur, with a double major in Economics and Finance. He is currently a member of the RBA Australian Foreign Exchange Committee (AFXC).

Mark Aarons

Head of Portfolio Risk and Solutions

Victorian Funds Management Corporation (VFMC)

Mark joined VFMC in April 2018 as Head of Investment Risk.  He is also currently an Adjunct Associate Professor in the Centre for Quantitative Finance and Investment Strategies at Monash University.   Prior to his current role, Mark was Head of FICC Structuring at the National Australia Bank from 2010 to 2017, where he built a leading securitisation swap business in both Australia and the UK.  From 2004 to 2010 Mark held various roles at NAB in both Front Office and Market Risk.

Mark holds Bachelor degrees in Law and Science (both with Honours) from Monash University and a PhD in Mathematics jointly from the Max Planck Institute for Gravitational Physics and the Free University of Berlin, Germany.  Mark is also the co-author of a recent book on securitisation swaps which was published by Wiley Finance in March 2019.

Justin Lo

Portfolio manager

Sunsuper

Justin is an investment manager within the fixed income and currency team at Sunsuper. Justin joined Sunsuper in October 2013 and has over 11 years of industry experience. Prior to joining the firm, Justin worked at Legal & General Investment Management (London), J.P. Morgan (Sydney) and State Street (Sydney). Justin holds a Bachelor of Commerce (Finance) at Macquarie University, Masters of Financial Analysis at the University of New South Wales, is a CFA Charterholder, Certified FRM and Chartered Alternative Investments Analyst.

Joris Hillmann

Head of capital markets

AustralianSuper

Joris is the Head of Capital Markets at AustralianSuper. In this role, he is responsible for the build out of AustralianSuper’s Capital Markets capability, which seeks to leverage competitive advantages in size and scale by optimising management of the Balance Sheet and improving how the Fund coordinates and implements investment decisions.

Joris has over 20 years’ experience in asset allocation, portfolio management, exposure management, treasury, securities lending, investment risk management, governance, strategic and tactical portfolio construction, leadership and coaching.

Prior to joining AustralianSuper, Joris managed a range of fixed income and currency portfolios at Macquarie Investment Management in London and Sydney. Joris commenced his career at ING Investment Management in the Netherlands.

Anne Anderson

Managing Director, Head of Fixed Income and Investment Solutions

UBS Asset Management

Anne Anderson has overall responsibility for the Fixed Income and Investment Solutions activities in Australia. She leads the Australian Fixed Income Strategy Team with focus on developing Australian and global interest rate strategies and co-manages the Australian Investment Solutions portfolios. 

Anne is a member of the Global Fixed Income Investment Forum (FIIF) and chairs the macro forum that formulates key macro and strategic themes implemented across portfolios. She also chairs the FIIF Rates and FX sub-committee and is a voting member on the Investment Solutions Investment Committee.

Anne joined UBS Asset Management in 1993 and has held senior investment and managerial roles across the global and APAC regional businesses. Most recently, as Head of APAC Fixed Income, building the APAC investment capability and achieving significant asset growth. Anne has also served on the advisory board of the Australian Office of Financial Management. Prior to joining UBS, Anne gained a further 11 years finance industry experience in corporate treasury and investment management.

10:3011:10

Exploring corporate hedging strategies in a heightened risk environment
Panel discussion

10:55 - 11:30

  • How have corporate hedging strategies changed in response to heightening geopolitical risks?
  • The use of customized instruments to achieve desired objectives and flexibility 
  • The evolution of the corporate treasurers’ role in hedging amid a changing regulatory environment
  • How corporates should adapt to increased electronification and need for best execution
Kurt Smith | Moderator

Treasury and Insurance Manager

Western Power

As the treasury and insurance manager at Western Power, Kurt changed the treasury and insurance business from a transactional cost centre to a centre of strategic value-add. He develops and implements financial risk management, capital management and financeability strategies to support the board's corporate strategy, improve financial performance and increase long-term enterprise value. He leads and manages a team of five treasury and six insurance professionals.

Prior to Western Power, Kurt held executive positions in financial markets for approximately 20 years. He was the head of derivative trading at the Bank of Western Australia, a director in two international fintech start-ups developing and commercialising option pricing and risk management technology, and the investment strategist at GESB fund management.

Kurt has published research on exotic FX options (international financial engineering journal and international patent) and has presented research at banking and treasury conferences in the USA, Europe and Australia.


He was awarded a Ph.D (Finance) from UWA and a Master of Philosophy (Finance) with Distinction from the University of Cambridge. He is a Certified Finance and Treasury Professional and is WA State Chair of the Finance and Treasury Association. He is also the Treasurer for the Special Olympics Australia (Perth).

Daren Csehi

Group funding and risk manager

Treasury Wine Estates

Daren is a finance professional with sixteen years of experience in strategic finance, financial markets and treasury.  Daren began his career as a wholesale banker where he worked across a wide variety of functions including FX, Structured Finance and Group Treasury.  His focus and passion in banking was conceiving and delivering transformational and strategic transactions and initiatives.  This included leading work streams on high profile strategic M&A transactions including the demerger and IPO of Clydesdale Bank as well as leading a multi-stream programme tasked with balance sheet optimisation to comply with the Dodd-Frank Act.  He was also instrumental in growing NAB’s Offshore Banking Unit from a $5m business to a $50m business.

 

In 2018 Daren took the leap from banking into corporate treasury, joining Treasury Wine Estates in their Group Treasury function.  At TWE, Daren is responsible for the strategic development and execution of all aspects of the Group’s FX hedging programme, term funding strategy, cash and liquidity management, interest rate and commodity risk management, and debt investor relations.

 

Daren has an MBA from Melbourne Business School having completed the Executive MBA programme in 2017. He also holds a Graduate Diploma in Applied Finance and honours degree in Economics.

Carol Lydford

Treasurer, head of treasury and investor relations

Toyota Finance Australia

As Treasurer, Head of Treasury and Investor Relations at Toyota Finance Australia, Carol is responsible for liquidity, financial risk management and investor relations.  Prior to this, Carol held a number of senior positions in the fields of treasury, regulatory affairs & development and finance, predominately in the Energy Industry.

Carol is Chair of the Asset & Liability Committee, Chair of the Diversity & Inclusion Committee and Australian representative to the Global Funding Coordination Committee for the Toyota Financial Services Group. Director of Toyota Super Pty Limited and Director, Treasurer and Finance & Risk Committee Chair for Lifeline Northern Beaches. 

Strongly supporting Diversity & Inclusion, Carol is a current mentor on the Science & Technology Australia’s ‘Superstars of STEM’ program and is a frequent mentor for Women in Banking and Finance mentoring program.

Carol holds a Bachelor of Business from the University of Technology Sydney, Diplomas in both Accounting and Financial Markets, an accredited financial markets dealer, is a professional member of the Finance and Treasury Association, a Graduate of the Australian Institute of Company Directors and a Certified Practicing Accountant.

Laura Innes

Senior finance manager treasury funding & CFS

Coles

Laura has over 18 years of treasury and finance experience and her current role at Coles as a Senior Finance Manager includes responsibility for managing foreign currency risk.

Laura was appointed as Coles Treasury Manager - Liquidity and Funding in October 2018 post demerger from Wesfarmers and assisted in establishing the stand alone treasury function, financial risk management, capital management and funding. From October 2019 she now has finance responsibility for Coles Financial Services business.

Prior to joining Coles Laura was the Assistant Treasurer at Toll for almost 10 years and was previously an Audit Manager at KPMG.

Laura holds a FCA from the Institute of Chartered Accountants in England and Wales, a Masters in Chemistry from the University of Sheffield and is also a member of the Finance and Treasury Association.

Vic Jansen

Risk strategy & technology, treasury services

KPMG Australia | Moderator

Vic has more than 33 years’ experience in financial markets working for banks in Perth and Melbourne specialising in financial market risk instruments and hedging across interest rate, foreign exchange and commodity markets, before transitioning into Consulting within Treasury Advisory/Execution services in 2011 ultimately leading to the establishment of KPMG Treasury Services in 2013.

Vic’s primary role is to provide outsourced Treasury services and advice to KPMG’s retained Treasury services client base, where he specifically advises clients on hedging solutions covering interest rate, foreign exchange risk as well as commodity price risk management including bulk, base and precious metals. Across the energy sector, Vic also advises on market risk associated with Brent Oil & Diesel fuel. 

The Treasury services team also has a wider focus on financial market instrument valuations, hedge accounting support to meet various accounting standards and TOFA solutions specifically for funds on an ongoing outsourced client services model.

Client Experience

Vic has and continues to provide a wide range of corporate treasury risk management advice to a number of Australian corporations as a member of their Treasury Risk Management committees. Examples of additional professional roles include:

•             Treasury risk management policy development covering currency, interest rate, base and precious metals for a number of listed, private and state owned organisations.

•             Current active hedging programs in Base/Precious Metals, Crude and Fuel in commodity markets and various foreign exchange currency pairs and interest rate risk management activities.

•             Investigations with financial market benchmarks, acting as specialist subject matter expert and industry trainer in both BBSW and the London FX benchmarks.

•             Undertaken engagements evaluating foreign currency overlay models, providing key market insights as to use and effectiveness.

•             Lead client service provider for a major international fund manager, providing ongoing outsourced treasury services in the provision of a foreign exchange hedge accounting and TOFA solution for their foreign exchange overlay business.

11:1011:40

Morning networking break

10:40 - 10:55

11:4012:20

FX clearing - market drivers and developments
Panel discussion

14:40 - 15:20

  • Understanding the impact of new capital and margin requirements on FX clearing
  • How regulatory developments around the world are affecting clearing across various product categories
  • What are the drivers motivating institutions to clear their FX?
  • Are buy side firms and regional banks clearing their FX?
  • The role of automated and electronic trading in creating liquidity and greater use of clearing
Kate Birchall | Moderator

Head of Asia Pacific

LCH

Kate Birchall is Head of Asia Pacific for LCH Ltd. In her role, she is responsible for LCH’s business in the region, including the CCP’s existing OTC derivatives clearing operations in Sydney and Tokyo. 

Prior to joining LCH in October 2018, Kate was Head of Portfolio Optimisation and Collateral at National Australia Bank. She has also held senior roles in Structuring, Portfolio Management and Credit Research in Australia and London. 

Kate holds an EMBA from the London Business School and a BA in Mathematics from the University of Queensland.

Ravi Pandit

Executive director interest rate & FX products

CME GROUP

Ravi Pandit serves as Executive Director, Foreign Exchange and Interest Rate Products, Asia Pacific, for CME Group, based in Singapore. He is responsible for expanding CME Group’s existing FX and interest rate business and developing new opportunities across the region. Pandit joined CME Group in August 2015, and he has 25 years of experience in the financial markets.  Prior to joining CME Group, Pandit was a consultant to Singapore Exchange, where he provided strategic advice and project management for its launch of listed FX futures.  Before that, Pandit worked for 12 years in Dresdner Bank and subsequently Commerzbank post-merger, where he headed up the local markets trading team, and helped build up its Asian presence in interest rate and FX derivatives trading.  Pandit also worked in various trading roles at Barclays Bank, across Hong Kong, Singapore and Tokyo, and in operations & technology at Citibank, across Hong Kong and Mumbai. Pandit holds a Masters degree in Chemical Engineering from Syracuse University and an MBA in Finance from the University of California, Berkeley.

Rohit Verma

APAC head, OTC clearing and FX prime brokerage

Citi

Rohit Verma is Citi’s APAC Head of OTC Clearing and FXPB.  He has been in this role since January 2019. He is responsible for growing these products in the region and ensuring healthy return on capital. Prior to that he was running Risk and Capital for Clearing business since 2012. In addition to risk due-diligence, measurement and interface with independent risk, CCPs and Regulators he also led the Capital optimization initiative for the clearing business in the region. He sits on the regional management team for the Clearing business and also represents Citi at various Asian Exchange Risk Committees/ work-groups.

Rohit holds an MBA from the National University of Singapore and is also FRM certified. He joined Citi from Deutsche Bank where he was APAC Head of Risk Management for the Asset management business.  As part of this function, he set-up the independent risk management platform for the buy-side business and chaired the regional Risk committee. Prior to this he has also served in senior sell-side market risk roles at Landesbank Baden Wuerttemberg and Credit Suisse, and as financial controller at Siemens.

Russell Beattie

Head of Asia Pacific Futures & Options, OTC Clearing and FX Prime Brokerage

Bank of America Merrill Lynch

Russell Beattie is the Director, Head of Asia Pacific Futures & Options, OTC Clearing and FX Prime Brokerage. Russell has 26 years’ experience in listed exchange traded derivatives in APAC. He has lived / worked and been a licensed representative in Hong Kong, Singapore, Japan and Australia. He has built and coached highly profitable electronic trading / sales trading / origination and clearing teams in Australia, India, Singapore, South Korea, Japan, Hong Kong and Taiwan. Being a product professional with an extensive marketing / sales background he values his broad based relationships which cover buy-side and sell-side clients across the globe. In his career he has spent over 15 years as a registered company director, licensed responsible officer and/or licensed internal control manager across various regional businesses. Prior to Joining BAML Hong Kong in January 2015, Russell was the Managing Director, Head of Prime Services Japan and Head of Agency Derivatives Services Distribution (Asia Pacific) for Barclays based in Tokyo. As part of that role he was also a member of the Barclays APAC Prime Services Management Committee. Russell is an elected board member of the Futures Industry Association of Japan and continues to participate on several other market advisory committees such as Futures Industry Association, Asia and the Korean Exchange Derivatives Markets Advisory Committee. Russell takes an active interest in mentoring current economics & finance students where he is on the advisory board of the HK Federation of Business students association, Honorary Vice President of the Advisory board of Business Students Union, HKUSTSU and participated as a guest speaker at the College of Business & Economics , ANU, Canberra. Russell graduated from the Australian National University, Canberra with a Bachelor of Economics. Prior to starting in the financial markets on the Sydney Futures Exchange he was granted a commission as a Royal Australian Infantry Officer and qualified as an airborne trooper with the 1st Royal Australian Commando Regiment.

12:2013:00

Evaluating quality of FX liquidity amid the rise of eFX and compressed margin environment
Panel discussion

15:40 - 16:20

  • 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
Rob Leck | Moderator

Director

Cutter Associates

Rob Leck has over 15 years' experience in financial services spanning portfolio construction, asset allocation, portfolio management,  investment risk, investment systems, quantitative solutions and performance.   He is a senior investment professional with experience across the Superannuation, Asset Management and Treasury spaces as a Portfolio Manager and Quantitative specialist supporting the end-to-end investment process.

Prior to joining Cutter Associates, Rob was a Senior Portfolio Manager in QSuper’s Investment Strategy team with responsibilities across asset allocation, whole of portfolio construction and risk management as well as supporting the equities, fixed income and alternatives teams. He also led the Quantitative Solutions group, designed and managed the front-office performance and risk analysis reports and dashboards and prototyped and supervised the development of the front-office asset allocation tools.

Previously, Rob was the Senior Portfolio Manager responsible for the Cbus Fixed Income asset class encompassing the configuration of the rates, credit and cash components. In this role he was responsible for Investment Manager research, Portfolio Management and Portfolio oversight as a member of the Internal Investment Committee. He also established and led Cbus’ Quantitative Solutions team and was responsible for the development of bespoke portfolio management tools and supporting databases.

Rob was a Senior Investment Risk Analyst at Vanguard Investments Australia and was responsible for the development of FactSet performance and risk reporting framework. In addition, he was responsible for building out the risk reporting for the Fixed Income and Equity teams in conjunction with the analytics calculated by the BRS Aladdin (Fixed Income) and CRD (Equity) systems.

Rob was also a Senior Quantitative Analyst at the Queensland Treasury Corporation supervising the client reporting, performance and attribution calculations and benchmark rebalancing processes.

Rob holds a Graduate Certificate in Applied Mathematics specialising in computational and discrete mathematics from the Queensland University of Technology. He also holds a Bachelor of Business and Bachelor of Applied Science and more recently completed the Diploma of Superannuation. Rob is a member of the Advisory Committee for the Fixed Income & Credit forum run by the Centre for Institutional Investors (CII).

Alison Towers

Director, global liquid markets trading

QIC

Alison joined QIC in 2007 and has more than 16 years’ financial markets experience. Overseeing trading across all of QIC’s global liquid market asset classes, her key roles include leading QIC’s global liquid markets trading team to achieve ‘best execution’ and ensure all trading activity is accurate and compliant.

QIC’s global liquid markets trading team is recognised for their deep understanding of global liquid markets and how to effectively implement a very broad range of financial instruments across interest rates, credit, inflation, FX, cash, liquid alternatives, equities and commodities. 

Alison has held a number of roles across QIC, including portfolio management roles for both FX and asset rebalancing overlays. Before joining QIC, Alison worked at Suncorp in a range of roles including trading, portfolio management and risk management. 

Alison holds a Bachelor of Science majoring in mathematics from the Queensland University of Technology and a post graduate diploma in applied finance and investments from FINSIA.

Tom Keegan

Portfolio manager

Macquarie Investment Management

Tom is a portfolio manager within Macquarie Fixed Income’s (MFI) Rates and Currency Team where his primary responsibility is managing dynamic and passive hedging programs for institutional and wholesale clients. Tom also manages active currency and tail risk hedging strategies for Macquarie’s global fixed income funds providing an alternative source of alpha as well as diversification benefits. Tom is responsible for trade execution with a particular focus on achieving best execution within each client’s the permitted credit framework. Prior to joining Macquarie Tom spent six years working as a portfolio manager for Adrian Lee & Partners. Tom holds a Masters in Management from University College Dublin and is a CFA Charterholder.

Paul Scott

Head of eFX

ANZ

Paul is the Head eFX, he is responsible for maximising trading across all electronic FX products, including spot, forwards, non-deliverable forwards and client algo offerings.

Paul has over 25 years’ experience in Financial markets, which includes being a Senior FX Trader for National Australia bank, before moving to Kaiser Trading as Head of Trading and establishing their execution trading team.

In 2007 Paul moved to Singapore to join Dresdner, where he spent 10 years, initially as Head of eFX Trading for Asia. As part of the Commerzbank merger, Paul was then promoted and spent the next 8 years as Global the Head of Spot Foreign Exchange and e-Trading.

Prior to Paul joining ANZ, he was a financial market and e-trading consultant, and an advisory board member at Spark Systems in Singapore for almost two years. Paul holds an MBA from the Australia Graduate School of Management (AGSM) 2005.

Frank van Zegveld

Director of Sales & Business Development

Lucera Financial Infrastructures Ltd

Frank van Zegveld is Director of Sales and Business Development at Lucera Financial Infrastructures Ltd.

Frank has 15 years of experience in the financial services industry and joined Lucera in December 2017.

Prior to joining Lucera, Frank was Head of Sales and Business Development at Solid FX in Amsterdam - The Netherlands. Frank joined Solid FX in March 2013 as business consultant and contributed to Solid FX's strategy. Before Solid FX, Frank ran his own consultancy company and was the CEO and owner of Iron B.V. a consultancy company with 15 senior consultants active in all aspects of Operational Risk & Security management.

Frank was part of Nasdaq’s FX Advisory board and worked closely with the Dutch Association Financial Markets (AFM).

Frank has a bachelor’s in financial management and security management.

13:0013:05

Chairperson’s closing remarks

16:20 - 16:30

Keith Sedergreen

President

ACI Australia

Keith Sedergreen is President of ACI Australia, a voluntary role has held since 2016 and is Vice-Chair of ACI’s Global Committee for Professionalism. Keith joined the FX market at M W Marshall in London in 1978 as a broker on FX Swaps. He also has experience in IR derivatives and energy markets. His career took him to New York, Johannesburg before arriving in Sydney in 1986.  He returned to London in 1990 before moving to Tokyo as MD of Hatori-Mashall and returning to Sydney in 1997 as MD of M W Marshall and Co. and then had various MD roles finishing with BGC Australia at the end of 2018. As well as sitting on the Australian Foreign Exchange Committee, Keith has helped in the development of the ACI Australia Dealing Simulation which has been run in 20 different global locations. Keith recently graduated from the AICD. He believes the Foreign Exchange Global Code will help build a trusted, fair and transparent market for all participants.

13:0513:05

End of FX Markets Australia 2020 virtual conference

11:45 - 11:46