Fixed Income Leaders USA 2015 (past event)
June 02 - 04, 2015
Contact Us: 1.888.482.6012
Capitalising On Future Trends
08:20 - 09:00 Registration and Breakfast
09:00 - 09:10 Chairperson Opening Remarks
09:10 - 09:40 Industry Keynote: Global economic outlook- Where do the new opportunities lie in Fixed Income?
Marc’s global team spans three locations, with staff in the US, London and Tokyo to provide real asset managers with commentary, analysis and trade ideas in fixed income, equities and FX. Marc actively advises clients on key challenges with in fixed income, including low negative interest rates, the latter of which is unprecedented, and more volatile exchange rates, which makes hedging more expensive. Attend this keynote session to find out:
- Global outlook- What is the medium-long term outlook for mature economies and what does this mean for Fixed Income trading?
- What global themes will provide opportunities in an increasingly uncertain macro environment?
- What is the outlook for the FED and ECB policy as advanced economy central banks head towards the exit of Quantitative Easing?
- Does diverging interest-rate policies and currency prospects across regions offer an opportunity for fixed-income investors?
09:40 - 10:20 Keynote Panel: Synergies with Equities reform- Which strategies are transferrable to your Fixed Income trading desk?
As you know the fixed income industry is presently going through exciting change not too dissimilar to the equities evolution 10-15 years ago. Therefore there are some correlations between the two asset classes which are worth noting to learn transferable lessons. This senior level panel brings together three experts who also have a strong background in equities who will share their top tips on synergies you should look out for. Attend this panel to find out:
- Recognising the key differences between equities and fixed Income- what can you learn from the equities evolution?
- Has the new regulatory landscape created the environment for a far reaching transformation towards an equities-like market structure for fixed income?
- Outlining the benefits- How can you use the equities model as a guide to refine Fixed Income trading strategies?
- Will the e-trading innovation lead to more dark pools in fixed income?
- Technological innovation- what tools will we need to prosper in the new market?
Moderator: TBC
- Recognising the key differences between equities and fixed Income- what can you learn from the equities evolution?
- Has the new regulatory landscape created the environment for a far reaching transformation towards an equities-like market structure for fixed income?
- Outlining the benefits- How can you use the equities model as a guide to refine Fixed Income trading strategies?
- Will the e-trading innovation lead to more dark pools in fixed income?
- Technological innovation- what tools will we need to prosper in the new market?
Moderator: TBC
10:20 - 11:00 Morning Networking Break
As you know the fixed income industry is presently going through exciting change not too dissimilar to the equities evolution 10-15 years ago. Therefore there are some correlations between the two asset classes which are worth noting to learn transferable lessons. This senior level panel brings together three experts who also have a strong background in equities who will share their top tips on synergies you should look out for. Attend this panel to find out:
- Recognising the key differences between equities and fixed Income- what can you learn from the equities evolution?
- Has the new regulatory landscape created the environment for a far reaching transformation towards an equities-like market structure for fixed income?
- Outlining the benefits- How can you use the equities model as a guide to refine Fixed Income trading strategies?
- Will the e-trading innovation lead to more dark pools in fixed income?
- Technological innovation- what tools will we need to prosper in the new market?
- Recognising the key differences between equities and fixed Income- what can you learn from the equities evolution?
- Has the new regulatory landscape created the environment for a far reaching transformation towards an equities-like market structure for fixed income?
- Outlining the benefits- How can you use the equities model as a guide to refine Fixed Income trading strategies?
- Will the e-trading innovation lead to more dark pools in fixed income?
- Technological innovation- what tools will we need to prosper in the new market?
Macro Trends
11:00 - 11:45 360° Perspective: Is the Bond Bubble about to burst? Which solutions can you adopt to combat the withdrawal of Quantitative Easing?
Speakers:
James Wallin Senior Vice President Fixed Income Alliance Bernstein
Leighton Shantz Head of Fixed Income ERS State Pension Fund Texas
Brian Kinney Managing Director State Street Global Advisors
Joseph Castelluccio Executive Managing Director, Head of Trading Capital Guardian
Moderator:
John Mangano Analyst Aite Group
James Wallin Senior Vice President Fixed Income Alliance Bernstein
Leighton Shantz Head of Fixed Income ERS State Pension Fund Texas
Brian Kinney Managing Director State Street Global Advisors
Joseph Castelluccio Executive Managing Director, Head of Trading Capital Guardian
Moderator:
John Mangano Analyst Aite Group
For years, the financial world has experienced a bull market in bonds. With the end of Quantitative Easing and rising interest rates for the first time in 11 years, the investment herd will be working in unfamiliar territory. This senior panel from across the industry will discuss:
- How has the end of QE impacted Fixed Income trading- Implications for buy side trading desks
- Opportunity or threats- What repercussions will the end of QE have on market volatility?
- How should you adapt your trading strategies to combat the end of QE?
- Will rates rise as much as the industry expects in response to the end of QE?
- How has the end of QE impacted Fixed Income trading- Implications for buy side trading desks
- Opportunity or threats- What repercussions will the end of QE have on market volatility?
- How should you adapt your trading strategies to combat the end of QE?
- Will rates rise as much as the industry expects in response to the end of QE?
Regulatory Reform
11:00 - 11:45 Fireside Chat: OTC derivative reform- How will the industry adapt to increased SEF trading?
Michael is viewed as an industry pioneer and oversees fixed income trading at Eaton Vance Corp. He is often called upon to provide input and expertise on Dodd-Frank rulemaking to regulators through meetings with the SEC & CFTC Commissioners. Attend this interactive case study where he will share this experience to answer your burning questions around:
- Is the market currently too fragmented, complex and costly for efficient Fixed Income SEF trading?
- Are you prepared for SEF Trading? Which systems and processes should you have in place to remain compliant
- Detailing the margin requirements on swap dealers and major swap participants for un-cleared swaps
- Clearing Mandate- Are regulators going to extend the mandatory product list for clearing and if so what is next?
- Is the market currently too fragmented, complex and costly for efficient Fixed Income SEF trading?
- Are you prepared for SEF Trading? Which systems and processes should you have in place to remain compliant
- Detailing the margin requirements on swap dealers and major swap participants for un-cleared swaps
- Clearing Mandate- Are regulators going to extend the mandatory product list for clearing and if so what is next?
Stream A
11:45 - 12:30 Case Study Revolution: How can you make money in the current low interest rate environment?
As one of the world's leading investment management organisations, and top U.S. wealth managers, with $1.4 trillion in AUM, BNY Mellon Investment Management has a lot of money making lessons to share! As a strategist, Charles performs strategic investment research and joint theme development to uncover new trading strategies and help overcome key market challenges. One of these challenges is how to make money in a current low interest rate environment. Attend this session to learn:
- How should you position your trading desk in a low interest rate environment in order to generate profits?
- How can the buy side now source opportunities with a lack of volatility and low interest rates?
- Where will you be able to look to get yield once bond prices come down and the FED raises rates?
- How will the market respond once interest rates finally increase?
BNY Mellon Asset Management
- How should you position your trading desk in a low interest rate environment in order to generate profits?
- How can the buy side now source opportunities with a lack of volatility and low interest rates?
- Where will you be able to look to get yield once bond prices come down and the FED raises rates?
- How will the market respond once interest rates finally increase?
Charles Dolan
Chief Investment Strategist, Fixed Income, Cash and CurrencyBNY Mellon Asset Management
Stream B
11:45 - 12:30 360° Perspective: Transatlantic trading- Key comparisons between Europe and the US to achieve Cross Border Compliance
With the lack of cohesion amongst regulatory bodies across jurisdictions, the fixed income industry is presented with major challenges to achieve global compliance. This high level panel combines US and European experts on regulations to ensure you can prepare your desk for cross border compliance. Attend this session to find out
- Dodd Frank, EMIR and MiFID II- Detailing key comparison points which implicate your trading activities
- How are the equivalent negotiations going with Europe- Are they moving forward on cross border regulation and no action relief?
- European vs. US- Outlining the treatment of futures and swaps in each region
- How are the current differences between the two negotiations affecting fixed income trading across the two regions?
- Dodd Frank, EMIR and MiFID II- Detailing key comparison points which implicate your trading activities
- How are the equivalent negotiations going with Europe- Are they moving forward on cross border regulation and no action relief?
- European vs. US- Outlining the treatment of futures and swaps in each region
- How are the current differences between the two negotiations affecting fixed income trading across the two regions?
12:30 - 14:00 Networking Lunch
US Markets
14:00 - 14:25 Case Study: What are the underlying factors around the lack of liquidity- and how can you overcome the drought?
Leighton serves on the trust's Risk Committee; Internal Investment Committee for alternatives, and in his role he has undertaken new and innovative strategies to help his firm overcome the liquidity crisis. Leighton also executed the transformation of the $25 billion retirement trusts fixed income assets to divided Rates & Credit mandates. Attend this session where Leighton will share:
- Determining the problem- Is the lack of liquidity solely down to dealer balance sheets or are there other factors at play?
- Can the buy side take on risk and market making roles beyond their current operations?
- How can you best overcome the volatility collapse in bond markets?
- What trading strategies can you undertake in a regime with more risk and less discretion?
- Will there be a fix to the liquidity drought or are you looking at a permanent scenario
- Determining the problem- Is the lack of liquidity solely down to dealer balance sheets or are there other factors at play?
- Can the buy side take on risk and market making roles beyond their current operations?
- How can you best overcome the volatility collapse in bond markets?
- What trading strategies can you undertake in a regime with more risk and less discretion?
- Will there be a fix to the liquidity drought or are you looking at a permanent scenario
Emerging Markets
14:00 - 14:25 Leadership Boardroom: Identifying emerging market opportunities- What key trends should you capitalise on over the next 12 months?
At the World Bank, Jean-Pierre is responsible providing value added research on global markets; covering market dynamics, macroeconomic trends and geopolitical issues. He assesses their impact on emerging countries' assets to make strategic asset allocation recommendations for regions, countries and sectors IFC management operate in. Eddy will be providing the buy side perspective, and is an expert in emerging markets, managing Loomis Sayles & Co. fixed income emerging market fund. In this interactive classroom style workshop limited to just 25 delegates, Jean-Pierre and Eddy will share their expertise to help you identify emerging market opportunities you can capitalise on over the next 12 months.
- Local vs. Global Investors- What resources should you allocate to emerging markets?
- How to build strong relationships with local brokers to source liquidity and reduce risk
- The importance of currencies in emerging markets- How to generate alpha
- What does US Dollar strength mean for emerging markets?
- e-trading- Which technologies can you utilise to improve
- Local vs. Global Investors- What resources should you allocate to emerging markets?
- How to build strong relationships with local brokers to source liquidity and reduce risk
- The importance of currencies in emerging markets- How to generate alpha
- What does US Dollar strength mean for emerging markets?
- e-trading- Which technologies can you utilise to improve
14:25 - 15:00 360° Perspective: Which market structure changes will present opportunities for buy side firms?
The fixed income landscape has changed, thanks in a big part to the actions of the FED, and to adapt and succeed in a new market the buy side need to not only adapt their strategies, but also their mind set. With new opportunities opening up for buy side firms, this high level panel will discuss:
- How should you adapt your trading behaviours to excel in a new market?
- With the sell side devoting less capital to market making, what can the buy side do to address this issue themselves?
- Does the buy side have the right mind-set to take advantage of the market structure changes?
- Are the buy side the true liquidity kings now?
HOOPP
- How should you adapt your trading behaviours to excel in a new market?
- With the sell side devoting less capital to market making, what can the buy side do to address this issue themselves?
- Does the buy side have the right mind-set to take advantage of the market structure changes?
- Are the buy side the true liquidity kings now?
Shrirang Apte
Derivatives & Fixed IncomeHOOPP
15:00 - 15:45 Closing Crystal Ball Session: Future Trends in Fixed Income: What will your trading desk look like in 2025?
As seen throughout the themes of this conference, the fixed income industry is in the midst of going through a radical change, but when the dust settles how will the market operate? This forward thinking panel will look into the future and discuss how they expect the market to develop over the next 10 years, along with input from the audience. Attend this final interactive session to discuss:
- What is next for the buy side- How should you adapt to prepare for tomorrows Fixed Income world?
- What will the market of buy side, sell side, technology providers and platforms look like in the next 10 years?
- Connecting to buy and sell side traders
- How will technology connect your desks in the future?
- Who will be the main providers of liquidity once the market settles into a new market structure?
- Will there be a consolidation of platforms once the market structure becomes more established?
- What is next for the buy side- How should you adapt to prepare for tomorrows Fixed Income world?
- What will the market of buy side, sell side, technology providers and platforms look like in the next 10 years?
- Connecting to buy and sell side traders
- How will technology connect your desks in the future?
- Who will be the main providers of liquidity once the market settles into a new market structure?
- Will there be a consolidation of platforms once the market structure becomes more established?
