Agenda

Agenda

2020 Agenda - FX Markets Europe

Big picture: policies, strategies & future

09:0010:00

Is FX the only macro market left?

09:00 - 10:00

  • With short-term rates anchored, will FX attract more macro investors?

  • Why and how are FX markets changing structurally?

  • Outcomes, preparations and forecast for a post-COVID market

Andreas König

Head of Global FX

Amundi Asset Management

Andreas König is Head of Global FX at Amundi Asset Management. He joined Amundi Asset Management (previously Pioneer Investments) in 2007 as Senior Portfolio Manager Foreign Exchange and is based in the London office.

Prior to this, Andreas was Head of Foreign Exchange at Amundi's office in Munich, where he was responsible for everything relating to FX, including the dedicated currency fund, currency risk management, currency overlay, currency derivatives and currency forecasts.

Andreas has worked in the investments industry since 1994. Before joining the company in August 2000, he was employed by Commerzbank London as Deputy Head of Global Foreign Exchange Options. Prior to that, he worked in the Frankfurt branch of Commerzbank as Head of currency options (1996-1998). He started his career in 1994 as a Currency Options Trader for Commerz Financial Products GmbH in Frankfurt.

Andreas is a graduate in Business Administration from the University of Applied Sciences, Landshut. He has been a CFA® charter holder since 2003.

Joe Little

Global Chief Strategist

HSBC Asset Management

Roger Hallam

Chief investment officer, GFICC group

JP Morgan Asset Management

James Binny

Global head of currency

State Street Global Advisors

James is Global Head of Currency. He joined the company in January 2016 as Head of Currency for EMEA. He is responsible for managing the Currency Portfolio Management team and for driving State Street's strategic vision for Currency.

James has 28 years of Foreign Exchange experience, predominantly in investment management, where he has worked on or led teams at firms such as Brevan Howard, Gartmore and County NatWest. He also managed a currency manager of managers product at ABN AMRO Bank. He is well known as an industry innovator, and was one of the first individuals to work on Currency Factor processes over a decade ago. James joined State Street from Lloyds Commercial Bank, where he was Head of FX Quantitative Solutions. In this role, he created and led the team responsible for advising clients on currency investment processes both for risk and return.

James graduated with a first in Engineering Science from Oxford University

Ben St Clair

Journalist

Risk.net

10:0010:30

Morning break

10:05 - 10:30

10:3011:30

Geopolitical risks

10:40 - 11:40

  • How political events have spurred FX activity

  • Forecasting FX troublespots for 2021: after Argentina, Turkey and the UK ...who’s next?

  • Strategies for FX traders who want to understand the political backdrop

  • Emerging market strategies

  • US elections, Brexit and how news cycles affect the market

Guy Verberne

Chief economist

PGGM Investments

Guy Verberne is Chief Economist and responsible for all macro-economic analysis within PGGM Investment Management - the second largest Dutch pension fund service provider, with currently €175bn under management.

Guy started his career as a policy advisor at the Dutch Ministry of Finance, before moving to the banking industry, where he has worked as a senior fixed income portfolio manager, chief economist and head of strategy.

He has a master's degree in economics from Erasmus University Rotterdam, specializing in monetary economics and finance.

Elliot Hentov

Head of Policy and Research, Official Institutions Group

State Street Global Advisors

<p>Elliot Hentov is the Head of Policy and Research in the Official Institutions Group. In this capacity, he is responsible for the development of research and thought leadership as well as providing technical expertise for the group's strategic direction.</p>
<p>He joined SSGA from Standard &amp; Poor's sovereign ratings group where he was a Director and lead analyst for sovereigns and government-related entities in Central, Eastern and Mediterranean Europe. Before that, Elliot served as a political affairs officer at the United Nations headquarters in New York, advising senior officials on political and economic issues in the Middle East and Europe.</p>
<p>Elliot holds a Ph.D. from Princeton University as well as a Master's degree in international affairs from Georgetown University and has authored publications in the New York Times, Financial Times, Foreign Policy, and Washington Quarterly. He is also a member of the Advisory Board of the Official Monetary and Financial Institutions Forum in London.</p>
<p>&nbsp;</p>

Arnab Das

Global market strategist - EMEA

Invesco

Arnab Das is Global Market Strategist at Invesco in the EMEA region, based in London, and a member of Invesco’s Global Thought Leadership team. He helps develop and communicate analysis and insight on the global economy and financial markets across asset classes for clients, media, governments and central banks.

He works with Invesco’s investment teams across disciplines and regions and is a member of Invesco’s Global Investor Forum Advisory Council with a focus on global macro and emerging markets. Arnab’s research interests span economic policy, performance and reform; and economic and financial history.

Arnab joined Invesco in 2015 as Head of EM macro research for Invesco Fixed Income. He began his career in finance in 1992, and has served as Co-head of Economic Research & Strategy at Roubini Global Economics; Co-head of Global Economics & Strategy, Head of Global FX Research, and Head of EM Economics & Strategy at Dresdner Kleinwort; and Head of EEMEA Research at JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique.

Arnab’s studies were in macroeconomics, economic history and international political economy. He received an AB from Princeton University in 1986 and completed his postgraduate and doctoral work at the London School of Economics in 1987-1992.

Laura Cooper

Macro strategist / former director of FX strategy

Bloomberg / RBC

Manos Papatheofanous

Senior portfolio manager

CPP Investments

11:3012:30

Lunch Break

13:20 - 14:20

12:3013:30

What to expect from UMR – and how to cope

12:40 - 13:30

  • The new regulatory timetable and scope as applicable to FX

  • Implementation challenges, preparing for initial margin exchange

  • The efficiency of margin exchange

  • Alternatives to uncleared margins

  • Margin exchange in prime brokered transactions

Victoria Cumings

Managing Director, Americas, FX Division

Global Financial Markets Association (GFMA)

Victoria Cumings is the Americas representative of the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA). Since its establishment, the GFXD has grown to 24 members, between them accounting for over 90% of the global FX market, and is represented in Europe, North America and Asia. The GFXD works with key regulators, Central Banks and other interested parties to monitor policy and regulatory developments that could affect the FX markets and seeks to ensure the establishment of harmonised regimes and infrastructure to enable an effective market for all participants.

Victoria is responsible for regulatory issues in the Americas and for a number of global GFXD topics, in areas including capital, margin and clearing. Victoria is also a former attorney and has previously held positions at CLS Bank, HSBC, Davis Polk, and McCullough Robertson.

 

Marcus Butt

Global Head of Prime Services

NatWest Markets

Prior to taking responsibility for FX Prime Services, Marcus was responsible for sales across Prime Brokerage, Futures & OTC Clearing and for the OTC Clearing product in EMEA.

Before joining RBS, Marcus spend 17 years at UBS where he held a number of roles in Prime Services, Securities Lending and FX

Bac Van Luu

Head of currency and fixed income strategy

Russell Investments

Bac Van Luu is head of currency and fixed income strategy at Russell Investments. He is an investment strategist and economist educated to PhD level with 18 years of multi-asset experience in asset managers, sovereign wealth funds and investment banks.

Phil Hermon

Executive director of FX products

CME Group

Technology and transformation

09:0010:00

The future for FX algos

10:40 - 11:40

  • Emerging algo types: AI, adaptive, basket and NDF algos

  • What does algo flow mean for other market participants?

  • Barriers to the adoption and evolution of algos

  • Peer-to-peer trading venues and dedicated P2P algos

Richard Turner

Senior Trader

Insight Investment

Richard has been at Insight Investment since 2012, and was previously at Pareto Partners

Ralf Donner

Head of FICC Execution Strategies

Goldman Sachs

Ralf Donner is Head of FICC Execution Strategies at Goldman Sachs. He is responsible for the firm’s client FICC algorithmic execution offering, pre- and intra-trade liquidity and transaction cost analytics, and post-trade reporting.

Ralf started his professional career at ABN Amro in 2006 as an FX options quant, followed by 8 years with Morgan Stanley in London and New York, first in model validation of options pricing models and then in quant sales, focusing on systematic FX trading strategies and FX market microstructure. From 2014-2016 he ran Morgan Stanley’s QSI team in New York.

Ralf holds a Masters in Physics and a Doctorate in Theoretical Physics from Oxford University.

Asif Razaq

Global Head of FX Automated Client Execution,

BNP PARIBAS

Asif is an experienced FX Algo Trader who has over 15 years of experience in developing  electronic trading platforms. He has a MSc in Artificial Intelligence and has joined BNP Paribas from Citi, where he worked on various initiatives including eFX pricing engines and algorithmic trading. Utilising his experience in artificial intelligence, he has developed and launched Cortex iX (Intelligent eXecution) - a cutting edge FX algorithmic execution platform that has been highly acclaimed by clients and industry experts globally.

Duncan Wood

Global editorial director

Risk.net

Duncan Wood is the London-based editor-in-chief of Risk.net. He was promoted to the role at the start of 2015, to lead the editorial reorganisation of the website and its print titles. Duncan had been editor of Risk magazine since July 2011. He rejoined Risk as European editor in October 2009, having originally worked for Risk and Asia Risk in London and Hong Kong as a writer and researcher between 1998 and 2000.
In the intervening years, Duncan was news editor for the Oliver Wyman-founded online start-up ERisk.com. He also worked freelance for six years while living in Germany, with his work appearing in Euromoney, Financial News, IFR, and The Wall Street Journal, as well as Risk magazine and its sister titles.
Duncan has written about derivatives and risk throughout his 17-year career in journalism. He is a Neal Awards finalist, and has also won Incisive Media's journalist and editor of the year awards.

10:0010:30

Presentation: "Collateral Angle to Digital Finance’s future "

10:30 - 11:00

  • Do we want DiFi world inside the banking system or outside

  • Collateral silo: money vs securities/collateral

  • (Some) economics of collateral reuse

Manmohan Singh

Senior economist

International Monetary Fund

Manmohan Singh is a Senior Economist with the International Monetary Fund in Washington DC. He writes extensively on topical issues including, monetary policy and central bank balance sheets, financial plumbing,  rehypothecation of collateral, collateral velocity,  shadow banking, deleveraging in financial markets, etc.. He has written a second edition of his book Collateral and Financial Plumbing that looks at all the above themes from the lens of financial collateral. Manmohan has led work-shops for the IMF to official sector policy makers on strategic asset allocation and impact of regulations on financial markets.  He holds a PhD and MBA from University of Illinois at Urbana-Champaign and a B.S. from Allegheny College.

10:3012:30

Lunch Break

13:20 - 14:20

12:3013:30

Technology and transformation: forecasts for the next decade

12:40 - 13:30

  • AI, artificial neural networks and genetic algorithms, ML and new tools, apps and platforms to come, “hands-free hedging”

  • WFH and the new day-to-day normal: How will technology and FX respond in the post-COVID world?

  • Digital currencies, automated cryptocurrency trading, live market data from cryptocurrency exchanges

Cetin Karakus

Global head of quantitative and analytical solutions

BP

Cetin Karakus has two decades of experience in designing and building large scale software systems. Over the last decade, he has worked on design and development of complex derivatives pricing and risk management systems in leading global investment banks and commodity trading houses. Prior to that, he has worked on various large scale systems ranging from VOIP stacks to ERP systems. 

In his current role, he has been running a global portfolio of six solutions engineering teams focused on building cutting-edge
derivatives pricing & risk analytics, exotics trading systems for energy commodities, cloud-based computational grid services, data analytics platform & services for North American energy markets (oil, gas, power, NGLs, emissions), a weather analytics & forecasting platform and Big Data visualization & reporting services.  He works at an intersection of data, analytics and trading with the constantly shifting ground that is global energy markets.

Cetin has a degree in Electrical & Electronics Engineering and enjoys thinking and reading on various fields of humanities 

Giuseppe Nuti

MD, head of machine learning, global markets

UBS Investment Bank

Luke Clancy

Editor-at-large

Risk.net

Xiaochen Zhang

President

FinTech4Good