2010 Programme

8:15 Registration and breakfast

8:50 Welcome address: Saima Farooqi, Editor, FX WEEK

9:00 Keynote address:
Michael Cross, Head of Foreign Exchange, BANK OF ENGLAND and Chair, FOREIGN EXCHANGE JOINT STANDING COMMITTEE

9:30 Panel discussion: Evaluating the current FX landscape and lessons learnt over the past year

How has the market structure evolved?
The impact of regulations
What has improved this year and what should be continued
Identifying the most successful strategies

Moderator: David Poole, Chief Operating Officer and Principal, CLIENTKNOWLEDGE
Stephane Malrait, Managing Director, Global Head of E-business, Fixed Income and Currencies Division, SOCIETE GENERALE
Steve Toland, Head of FX Sales, Europe, Middle East and Africa and Americas, ICAP ECTRONIC BROKING
Yaacov Heidingsfeld, Chief Executive Officer, TRADERTOOLS
Will Patrick, Associate Director, FX Products, EMEA, CME GROUP
Udi Sela, Foreign Exchange and Cross Asset Suite Product Manager, SUPERDERIVATIVES

10:20 Morning break

Stream one (Risk management)

10:50 Chairperson’s opening remarks
Russel Levi, EVP, Global Head of Sales and Support, SUPERDERIVATIVES

11:00 Presentation: Managing currency risk in international asset portfolios

Impact of hedge ratios on different asset classes, and optimal hedge benchmarks
Rebalancing frequency of hedges
Trigger-based rebalancing and tracking error
Options vs forwards as hedges

Jessica James, Global Head of Risk Advisory, CITI

11:30 Presentation: Taking a look under the hood of foreign exchange price movements to improve your trading results

How to locate support and resistance levels using 24-hour trading in derivatives and FX
How central banks are affecting price action and volatility
Deciphering and leveraging the strategies of algorithmic trading programs
Using creative indicators to reduce risk exposure and create stop points for your profits and losses

Daniel S. Shaffer, President & CEO, SHAFFER ASSET MANAGEMENT

Stream two (e-FX developements)

10:50 Chairperson’s opening remarks
David Holcombe, eTrading Principal, RULE FINANCIAL

11:00 Presentation: Evolution of e-FX trading

Drivers behind this evolution
Where next for e-FX
Adoption of online FX trading

Simon Wilson-Taylor, Managing Director and Global Head of eCommerce, UBS

11:30 Presentation: FX hedging and active asset allocation

Static FX hedging strategies for different assets and base currencies
Cyclical characteristics of FX risk and active hedging strategies
Example: Scandie FX hedging strategies for a euro-based investor

Thomas Thygesen, Head of X-Asset, SEB

12:00 Algo panel: Innovative trading and technological developments in FX algo trading

Is there an arms race in algo trading and is it hurting the investors?
Transaction cost analysis and its importance for measuring best execution. How to derive TCA in FX?
Algorithms designed to search for dark pools and SORS to provide the best price

Moderator: Justyn Trenner, Chief Executive Officer and Principal, CLIENTKNOWLEDGE
James Dalton, Director FX Algorithmic Execution, CITI
Martin Sewell, Senior Research Associate, UNIVERSITY OF CAMBRIDGE
Gary Stone, Chief Strategy Officer, BLOOMBERG TRADEOOK
Jonathan Wykes, Director, European Head of Advanced Execution Services (AES™) Sales for FX, CREDIT SUISSE

13:00 Lunch

14:00 FXPB panel: New role for FX prime brokerage

How will central clearing affect prime brokerage, trading costs and systemic risks
What role will prime brokers have in the reduction of operational, settlement and liquidity risks
Are prime brokers meeting the current demands of clients i.e. cross-asset margining

Moderator: Gavin Wells, Consultant, LCH.CLEARNET
Ben Tobin, Sales Director, TRAIANA
Marco Baggioli, Head of FX Prime Brokerage Europe, BNP PARIBAS
Francis Madden, E-Solutions Group, CIBC WORLD MARKETS
Jason Vitale, Global Head of dbClear FX - FX Prime Brokerage & Clearing, DEUTSCHE BANK

Stream one

14:50 Presentation: Emerging markets – focus on the Russian Ruble

Identifying the trends of the Russian Ruble in the domestic, cross-border and international markets
Opportunities and challenges in the OTC market
Developments in electronic trading
Outlook for the region

Danny Corrigan, Director, Financial Markets, Moscow, ING EURASIA
Darryl Hooker, Global Emerging Markets Manager, EBS

Stream two

14:50 Presentation: The role of banks, ECNs and aggregators and hedge funds in FX HFT

Essential ingredients to do HFT
Kinds of strategies in HFT
Peculiarities in FX HFT compared to Equities
Buy or build an aggregator/OMS? (Order Management System)

Ravi Chari, Portfolio Manager, IKOS

15:20 Afternoon break

15:40 Buy-side panel: Potential currency moves and new opportunities

Markets have again been volatile - what has happened to performance as a result?
How have recent events impacted currency managers’ use of risk technology
Will the heightened level of risk of currency translate into more business for currency overlay or currency fund managers?
Currency management - EM versus G10 where should managers focus their attention?
Currency Alpha: what market regime going ahead and what techniques?
Currency Investment styles - What should investors look for?

Moderator: Paul Chappell, Chief Investment Officer, C-VIEW
Pierre Lequeux, Head of Currency Management, AVIVA INVESTORS
Thanos Papasavvas, Head of Currency Management, INVESTEC ASSET MANAGEMENT
Paul Lambert, Head of Macro Strategies, POLAR CAPITAL LLP
Michael Sneyd, FX Economist, BARCLAYS WEALTH

16:30 Panel discussion: Going on to next year – what can we expect in 2011

Impact of local regulations on the global FX market
The future of foreign exchange trading
How new technologies will impact the FX industry

Moderator: Jeremy Cook, Chief Economist & Manager, Advisory Services, WORLD FIRST
Ray Farris, Director, Global Head of Foreign Exchange Strategy, CREDIT SUISSE
Mike Thrower, Director, Banking Business Development, WALL STREET SYSTEMS
Harry Gozlan, CEO and Founder, smartTRADE
Jan Randolph, Director of Sovereign Risk, Country Analysis and Forecast, IHS GLOBAL INSIGHT
John Miesner, Managing Director, Global Head of Sales, HOTSPOTFX