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Agenda Overview

Day One: Tuesday 9th September 2014

08.15 Registration & morning refreshments

09.00 Chairperson’s opening remarks
  1. Stu Taylor, Chief Executive Officer, Algomi
09.15 European bond markets: A low-interest rate, low-growth and low-default environment
  • Are European corporate and government bonds priced for perfection?
  • Is low secondary market turnover the result of a low interest rate environment?
  • Is unconventional monetary policy, coupled with a hunt for yield, creating bubbles in certain assets?
  1. Vincent Chaigneau , Head of FX & Fixed Income Research, Societe Generale Corporate & Investment Banking
09.45 How are the buyside changing the way they approach bond trading?
  • What role are they playing in pushing e-trading and a change in market structure?
  • Creating trading desks that act as internal market makers between bond funds
  • Are the buyside increasingly beginning to quote prices for particular bonds on electronic platforms?
  1. Stephen Grady , Head of Central Dealing, Legal & General Investment Management
  2. Chris Perryman , Vice President, Fixed Income Trading, PineBridge Investments
  3. Pierre-Emmanuel Charlier , Senior Trader, Pictet Asset Management
  4. Carl James , Founder, C2 Consulting
  5. Moderator: Fred Ponzo , Founder & Managing Partner, Greyspark Partners
10.30 Morning refreshments & networking break 11.15 How are dealers reshaping their fixed income operations to reflect and take advantage of market movements?
  • To what degree is there space for platforms providing direct bank access?
  • How are dealers internalizing communication channels to serve clients better?
  • Looking at whether dealers are looking at developing agency desks for corporate bonds
  1. Dominic Holland, Director of Credit eCommerce, Deutsche Bank
  2. Stephane Malrait , Global Head of eCommerce, Societe Generale Corporate & Investment Banking
  3. Neena Dholani , Head of Rates and Credit E-Trading, Commerzbank
  4. Arnaud Zeitoun , Head of Electronic and Retail Trading, FI Credit, BNP Paribas
  5. Moderator: Rebecca Healey , Principle, Tabb Group

12.00 Can a market infrastructure model that works for both the buyside and sellside be developed?
  • Can a consensus between the buy and sellside can be reached on a market infrastructure model where liquidity is less of a challenge?
  • Should the model of market infrastructure depend on trade sizes?
  • Looking at the possibility of developing a fixed income e-trading strategy that operates across asset classes
  1. Niall Cameron , Head of Markets EMEA, HSBC
  2. Nick Robinson , Head of Trading, Fixed Income, Schroders Investment Management
  3. Lee Sanders , Head of FX and Fixed Income Execution, AXA Investment Managers
  4. Grant Wilson , Director, Credit E-Trading, Europe, Goldman Sachs
  5. Fabrizio Testa , Head of Product Development, MTS Markets
  6. Moderator: Sassan Danesh , Managing Partner, Etrading Software, Co-Head of Global Fixed Income Committee , FIX Trading Community
12.45 Lunch 14.00 Are multiple new initiatives a good idea for the market?
  • Is there a risk that multiple platforms is actually holding back innovation and leading to a lack of industry consensus on which ones to back?
  • What will happen if multiple several of these initiatives succeeds, and conversely, what would happen if not many succeed?
  • Looking at the market share of new entrants
  1. Gherardo Lenti Capoduri , Head of Market Hub, Banca IMI
  2. Sassan Danesh, Managing Partner, Etrading Software , Co-Head of Global Fixed Income Committee, FIX Trading Community
  3. Paul Reynolds , Chief Executive Officer, Bondcube
  4. Gareth Coltman , Head of European Product Management, MarketAxess
  5. Moderator :   Stephane Malrait, Global Head of eCommerce , Societe Generale Corporate & Investment Bank

14.45 Fixed Income ETFs as a way of sourcing liquidity for corporate bonds
  • How are institutional fixed income investors utilising ETFs?
  • What electronic solutions are available to source, price, and trade the underlying basket of bonds needed to create or redeem shares in fixed income ETFs?
  • What are various ways Fixed Income ETFs are handled by broker/dealer internal trading desks (FI, Equity, DeltaOne)?
  1. Enrico Bruni, Head of Europe and Asia , Tradeweb
  2. Brett Pybus, Fixed Income Strategist, BlackRock
  3. Daragh McDevitt, Managing Director, Co-Head Fixed Income Derivatives Group , Deutsche Bank
  4. Moderator : Ashley Curtis, Fixed Income – Capital Markets , BlackRock
15.30 Afternoon refreshments & networking break 16.00 Emerging market bonds: Are investors becoming more comfortable trading less liquid bonds electronically?
  • What are the challenges of trading emerging market and high yield bonds electronically?
  • What needs to happen to speed up adoption of e-trading?
  • What are the challenges to move execution from being a cost center to an alpha generator and “c” suite component of the investment process?
  1. Ginny Wong, Central Dealing, Eastspring Investments Singapore
  2. Philippe Buhannic, CEO and Co-Founder, TradingScreen
  3. Moderator: Salvatore Capocelli , Senior Director, Business Development, Singapore Exchange
16.45 The changing roles of market participants: What will the landscape of buyside, sellside, inter-dealer brokers, and technology providers look like in the next 5 years?
  • How are market participants planning for the next 5 years?
  • How will roles and activities differ in a few years’ time compared to what they are now?
  • Are market players preparing for evolution or waiting for it to happen?
  1. Niall Cameron , Head of Markets EMEA, HSBC
  2. Michael Schmidt , Chairman, Algomi
  3. Gareth Coltman , Head of European Product Management, MarketAxess
  4. Moderator: Rupert Bull , Managing Partner, Expand Research
17.30 Chairperson’s closing remarks followed by drinks reception

Day Two: Wednesday 10th September, 2014

08.30 Morning refreshments

09.00 Chairperson’s opening remarks
  1. Roger Barton, Founder, Financial Reform Consultancy
09.15 What will the evolution of the inter-dealer model look like?
  • How are inter-dealer brokers navigating the shift from voice to electronic?
  • What type of trading model will IDB electronic platforms follow?
  • As the bond markets change, will there be a wave of consolidation of IDBs in the next few years?
  1. Silvia Di Giovanni , Head of Cash Markets, MTS Markets
  2. John Edwards , Managing Director, BrokerTec Europe, ICAP
  3. Matt Woodhams, Head of eCommerce, EMEA, GFI Group
  4. Moderator: Alex McDonald , Chief Executive Officer, Wholesale Market Brokers' Association
10.00 The return of the EU government bond markets: Are govis back with a bang?
  • What effect does the current ‘euphoria’ in European government bonds having on e-trading volumes?
  • Differences in e-trading volumes for core vs peripheral EU bonds
  • In this liquid environment, is high-frequency trading for European government bonds possible?
  1. Frederic Lasry , Head of European Government Bond Trading, BNP Paribas
  2. Angelo Proni, Head of New Markets, MTS

10.45 Morning refreshments & networking break 11.15  The European regulatory environment: Current state of play
  • How are market participants preparing for the implementation of MiFID II?
  • Assessing the impact of incoming regulations on electronic trading venues and the ability to offer liquidity on these venues
  • At what stage is the market in determining whether pre and post trade transparency requirements will be properly calibrated?
  1. Kristina Godau , Manager - Credit, Covered Bonds & Rates Divisions, AFME
  2. Simon Maisey , Managing Director, Finance and Business Management, Tradeweb
  3. Jim Rucker , Global Head of Operations, MarketAxess
  4. Moderator: Roger Barton , Founder, Financial Reform Consultancy
12.00 Fixed income e-trading trends in the US
  • Assessing liquidity trends in the US marketplace
  • How successful has the first dealer-only dark pool been thus far?
  • How has the SEF go-live impacted the bond markets?
  1. George O’Krepkie , President, MTS Bonds.Com
  2. Kelley Millet , CEO, Vice Chairman and Treasurer, Banca IMI Securities
  3. Joe Feerick, Managing Director, Millennium Europe
12.45 Chairperson’s closing remarks followed by lunch and close of conference