FX Markets USA 2023 agenda
FX Markets USA 2023 agenda
FX Markets USA 2023 agenda
08:15 – 08:50
Registration and refreshments
08:50 – 09:00
Introduction and housekeeping notes from the organisers
09:00 – 09:10
FX Markets opening remarks
Joe Parsons is deputy editor on the global markets desk. He was formerly deputy editor at Global Custodian, and prior to that he was at The Trade.
09:10 – 09:40
Macro discussion: assessing critical areas of focus in the changing global landscape
- Reviewing central bank activity: UK/US rates, Bank of Japan yield curve control phase-out
- Discussing key takeaways from the BRICS August summit
- The role of LatAm currencies at the macro-strategic level
Bernard Goyder is a senior staff writer for Risk.net and FX Markets, based in New York. His focus is on the global derivatives market. Before joining Risk.net he was a senior reporter at Euromoney Institutional Investor, covering the insurance industry for Insurance Insider, Inside P&C and Trading Risk. Before Euromoney, he worked at Dow Jones, where he covered investment banking and asset management for Financial News. He holds an undergraduate degree in history from SOAS, University of London and a Financial Journalism masters from City University, London.
09:40 – 09:55
Remarks on the FX Global Code and key FX developments
Anna Nordstrom
Head of the domestic and international markets functions in the markets group
Federal Reserve Bank of New York
Anna Nordstrom is head of the Domestic and International Markets Functions in the Federal Reserve Bank of New York’s Markets Group.
On the domestic markets side, she covers the Money Markets, Mortgage Markets, and Treasury Markets directorates. Together, these directorates are responsible for the implementation of domestic monetary policy operations as directed by the FOMC; monitoring and analyzing money markets, agency debt markets, mortgage markets, and Treasury markets; and executing Treasury auctions as fiscal agent for the U.S. Treasury.
From the international markets perspective, she manages the Foreign Reserves Management directorate, the Foreign Exchange and Global Markets directorate, and the Foreign Exchange Committee (FXC). Together, these areas are responsible for managing the euro- and yen-denominated assets of the U.S. foreign-exchange reserves; executing U.S. foreign exchange-related activities on behalf of the Federal Reserve System and the U.S. Treasury; the Federal Reserve’s central bank liquidity swap lines; monitoring and analysis of international financial market and policy developments; and contributing to the evolution of the FX Global Code. Nordstrom is an Ex Officio member of the FXC and represents the New York Fed on the Global Foreign Exchange Committee.
Before joining the New York Fed in 2008, Nordstrom held positions at the European Central Bank, the International Monetary Fund, and the Central Bank of Sweden (Sveriges Riksbank). Nordstrom studied public administration at Umea University in Sweden.
09:55 – 10:35
Electronification: transparency and algos
Panel discussion
- What is the turning point for algo trading in NDFs?
- What parameters can increase transparency on algo performance?
- Exploring ongoing electronification of workflows
- Does the growing use of algos change the nature of who’s providing liquidity?
Swayam Thacker
Executive director, FX, FICC, emerging markets rates systematic trading
Goldman Sachs
Joe Parsons is deputy editor on the global markets desk. He was formerly deputy editor at Global Custodian, and prior to that he was at The Trade.
10:35 – 11:15
Networking coffee break
11:15 – 11:55
Tackling FX settlement challenges: T+1, timelines and knock-on effects
Panel discussion
- New tools and technology: platforms to ease settlement risk
- Discussing crucial timelines for T+1 implementation
- Understanding knock-on effects on funding and operational risk
- Exploring blockchain uses in preparing for T+1
- How much of a concern is the lack of growth in PvP?
Brendan Burke
Managing director, head of Americas FX sales & business development
Brown Brothers Harriman
Neeti is an Executive Director in JPMorgan Chase within Market Operations with more than 20 years experience driving Strategic Change Management and business process transformation within Investment Banking, Asset and Wealth Management areas.
She has successfully led programs globally in Operations, Front Office and Technology delivering digital transformation projects, building and managing high performance teams and driving commercial success for clients.
Prior to JPMorgan Chase, she has worked for Goldman Sachs, Morgan Stanley and Citigroup in various leadership positions and led diverse and global teams through transformational change.
Neeti has a Masters of Information Systems from Robert Morris University and is based in New York.
11:55 – 12:35
Large language models, NLP, ML and other AI: where FX trading desks are using new technologies
Panel discussion
- What are the risks and rewards associated with implementing tech within FX dealing desks?
- Are self-learning algos and large language models the future?
- The shifting focus of traders: what to automate and where you still need the human touch
Philippe C. Burke is a managing partner and portfolio manager at Apache Capital Management, an NYC based asset management company with an emphasis on quantitative and machine learning assisted strategies.
Prior to founding Apache Capital, Burke was a principal and head of Global Leveraged Strategies at Morgan Stanley (1997-98). He joined Morgan Stanley from Lehman Brothers where he was a senior vice president (1991-97) and held the positions of proprietary trader, head derivative strategist, senior structured bond trader, and head of Structured Swaps during his tenure.
Swayam Thacker
Executive director, FX, FICC, emerging markets rates systematic trading
Goldman Sachs
Bernard Goyder is a senior staff writer for Risk.net and FX Markets, based in New York. His focus is on the global derivatives market. Before joining Risk.net he was a senior reporter at Euromoney Institutional Investor, covering the insurance industry for Insurance Insider, Inside P&C and Trading Risk. Before Euromoney, he worked at Dow Jones, where he covered investment banking and asset management for Financial News. He holds an undergraduate degree in history from SOAS, University of London and a Financial Journalism masters from City University, London.
12:35 – 13:15
FX prime brokerage: optimising credit for traders
Panel discussion
- Techniques around optimising credit
- How is volatility impacting FX markets and the prime brokerage business?
- Overcoming challenges around liquidity
Gavin White is a seasoned financial markets professional with over 30 years of experience across the global FX industry. After starting his career as a trader at Westpac Institutional Bank, Gavin went on to hold senior executive roles at numerous leading investment banks, including Barclays, Citigroup, ABN AMRO and MF Global. More recently, he was Managing Director at Cantor Fitzgerald, responsible for Prime Services across APAC. Gavin took over the position of Chief Executive Officer at Invast Global, now 26 Degrees Global Markets, nearly ten years ago and has been instrumental in the company’s growth and global expansion.
Joe Parsons is deputy editor on the global markets desk. He was formerly deputy editor at Global Custodian, and prior to that he was at The Trade.
13:15 – 14:50
Networking lunch
14:50 – 15:30
Priorities for LatAm trading: disruption, technology and opportunities
Panel discussion
- Examining the top LatAm currencies for NDFs
- LatAm carry trade opportunities: Is it evolving and how long will it last?
- What prerequisites are needed for optimal algo use? – discussing credit, live market access and liquidity
- Market access deep dive: platforms, NDFs, single dealer or broker dealer? Is the balance changing?
Jonathan Karlin is the global head of emerging markets FX trading at Wells Fargo, joining in 2022. He has more than 15 years in emerging markets trading having previously worked at Bank of America, Macquarie, and most recently at RBS / NatWest Markets as the head of emerging markets FX Trading in the US. He additionally has spent time on the board of directors at EMTA (Emerging Market Traders Association). Jonathan holds a B.S. in economics from Duke University.
Garth Appelt is a Managing Director, Head of Foreign Exchange at Mizuho Americas. Prior to Mizuho, Garth was a Senior Managing Director at UBS where he was the Global Head of Emerging Markets, Global Head of G10 Foreign Exchange Spot FX, and Global Head of Precious Metals Trading. At UBS, Garth was a member of the FRC Americas Executive Committee and FRC Global Management Committee. Garth also served as a board member for the Emerging Markets Traders Association (EMTA). Prior to joining UBS, Appelt was a Portfolio Manager at Moore Capital Management specializing in G10 and Emerging Market directional and relative value strategies in foreign exchange, interest rates, credit and equities. Over a 25-year career, Appelt has also held positions at Goldman Sachs, Morgan Stanley, and JP Morgan in New York, Paris and London.
Ulf J. Lindahl, Chief Executive Officer, has 40 years of experience in currency research and in managing currency overlay and currency alpha portfolios for pension funds and family offices now applied at Currency Research Associates. The experience was gained at A.G. Bisset, which he co-founded in 1981. Ulf has published the Review of Emerging Trends since 1984 providing subscribers with advice they can trust on currencies, interest rates, equity markets and commodities. The Review of Emerging Trends is now published by Currency Research Associates.
15:30 – 16:10
Closing keynote: how will cryptocurrencies, stablecoins and blockchain shape FX markets?
- The origins of stablecoins: a brief history
- Overview of current stablecoins: scaling issues and other obstacles restricting growth
- Predictions for the near future
- Lessons learnt from CBDC projects
- Macro challenges to be overcome: establishing individual’s identity in a way that is compliant with current regulations and discussing interoperability with blockchain and other products
Austin Campbell is the managing partner and founder of Zero Knowledge Consulting and an adjunct professor at Columbia Business School. Previously, he ran the stablecoin platform and portfolio management at Paxos as well as being the chief risk officer of Paxos National Trust, has managed fixed income trading desks at JP Morgan and Citi covering >$100B of cash derivatives, and has been a portfolio manager and structurer at Stone Ridge, the parent of NYDIG. He holds a BS in Mathematics from CSU Chico and a MBA from NYU Stern.
16:10 – 16:20
Close of conference
16:20 – 17:20