Fixed Income Future Leaders USA 2017

May 16 - 18, 2017

Westin Copley Place - Boston

+44 (0)207 368 9330

Day 1- Wednesday May 17th 2017

Expand All Sessions [+] Collapse All Sessions [-]

7:30 AM Conference Registration & Networking Breakfast

8:20 AM Welcome Address: Oliver Kirkbright, Editorial Director, Fixed Income Leaders Summit

8:25 AM Chairperson's Opening Remarks

Kevin McPartland, Managing Director, Head of Market Structure Research, Greenwich Associates

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

A 360 View From The Top
8:30 AM Head Trader Keynote Panel: The view from the Global Heads- What are the top priorities for the buy side fixed income trading business over the next 12 months?

Moderated By:
Kevin McPartland
, Managing Director, Head of Market Structure Research, Greenwich Associates

Michael Buchanan, Head of Global Credit, Western Asset Management Company

Michael O'Brien, Director of Global Trading, Eaton Vance

Chris Rice, Global Head of Trading, State Street Global Advisors

  • What are the major buy side priorities for fixed income in 2017/18 and how will this change trading and investment divisions?
  • How are trading desks being re-structured to facilitate the development of traders and PMs in a new market order?
  • Where is the investment in new technology going in order to focus trading resources where they are truly needed?
  • With more impetus on the buy side and a reduction in price making and liquidity provision from the sell side, how should you change the roles of your traders to prosper in a new market structure?
Michael Buchanan
Head of Global Credit
Western Asset Management Company

 Michael O'Brien
Michael O'Brien
Director of Global Trading
Eaton Vance

Viewed as an industry pioneer, Michael oversees a global trading team operating 24 hours per day responsible for the execution of long and short trades in over seventy-five markets. They also gathering intelligence on new instruments including hard currency and local currency debt. Having successfully steered Eaton Vance’s FX trading desk troug ...[Read More]

 Chris Rice
Chris Rice
Global Head of Trading
State Street Global Advisors

Moderated By:

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

9:10 AM Sell Side Keynote: Cross industry inspiration- How is the sell side implementing approaches from other industries to survive and thrive in fixed income markets?

Mike du Plessis, Managing Director, Global Head FX, Rates & Credit Execution Services, UBS Investment Bank

  • How are the sell side optimizing their capital in a less liquid, more regulated and lower return world to better support the buy side?
  • How are sell side business models evolving and how can the bulge bracket differentiate themselves to offer the buy side a tailored service?
  • What types of e-trading technology can the sell side use to maximize the efficiency of their dealing activity and pass on cost savings to the buy side?
  • In light of the move from a principal model of trading to an agency broking-centric trading model, which players are leading the way in offering the buy side innovative solutions?
 Mike du Plessis
Mike du Plessis
Managing Director, Global Head FX, Rates & Credit Execution Services
UBS Investment Bank
Mike is a Managing Director and Global Head of FX, Rates & Credit Execution Services at UBS Investment Bank. Mike joined UBS in London in 2010 before moving to the US in 2014. He began his career in 1989 with an internship at Asea Brown Boveri Metals Ltd, a category 2 member of the London Metal Exchange, where he developed an early passion for exch ...[Read More]

9:30 AM Board-Level Perspective: The big picture on market structure- What are the major developments transforming US fixed income markets and how will this change the way you interact with your sell side, platform and technology counterparts?

Moderated By:
Will Rhode
, Principal, Boston Consulting Group

Bill de Leon, , Managing Director, Global Head of Portfolio Risk Management, PIMCO

Rich Winter, Senior Managing Director, FENICS US Treasuries

Lee Olesky, Chief Executive Officer, Tradeweb Markets

Isaac Chang, Co-head of Trading, AQR

Paul Hamill, Global Head of Fixed Income, Currencies and Commodities, Citadel Securities

  • Market structure through the lens- what has changed on the back of regulation and new technology, and what remains the same?
  • Is consolidation amongst new fixed income venues inevitable and if so why is this not yet happening?
  • Can brokers still remain competitive in a new age of liquidity provision, pricing formational and reduced dealer balance sheets?
  • With more data and technology available to the buy side, what will be the long term impact on fixed income market structure?
  • What type of market can facilitate an efficient structure between buy side, sell side and platforms, and how can all market players work together to make this a reality?
Bill de Leon
, Managing Director, Global Head of Portfolio Risk Management
PIMCO

 Rich Winter
Rich Winter
Senior Managing Director
FENICS US Treasuries
Mr. Winter joined BGC Partners - Powered by FENICS in Q1 of 2015 to build and lead it's Global Sales team. He is responsible for bringing the market's need for transparent pricing and seamless execution to BGC Partner's global, multi-channel pools of liquidity as accessed via FENICS, the engine which powers that liquidity.

Prior to j
...[Read More]

 Lee Olesky
Lee Olesky
Chief Executive Officer
Tradeweb Markets
Lee Olesky is cofounder and Chief Executive Officer of Tradeweb Markets. He has more than 25 years of experience in managing financial technology and investment banking companies. In a career highlighted by innovation and the successful creation of two multi-billion dollar global financial technology firms, Olesky has played a key role in the evolu ...[Read More]

 Isaac Chang
Isaac Chang
Co-head of Trading
AQR
Isaac is the Co-head of Trading at AQR. In this role, he is responsible for managing the firm’s trading operations across all asset classes and regions. Prior to AQR, Isaac was the Global Head of Fixed Income, Currencies and Commodities at KCG Holdings, where he was responsible for all aspects of automated trading for the division. Previously, he s ...[Read More]

 Paul Hamill
Paul Hamill
Global Head of Fixed Income, Currencies and Commodities
Citadel Securities

Paul Hamill is the Global Head of Fixed Income, Currencies and Commodities for Citadel Securities. Mr. Hamill is responsible for the client facing FX and fixed income market-making businesses, including interest rate swaps, government bonds and credit default swap indices. Paul was previously a Managing Director and Global Head of FX, Rates and ...[Read More]

Moderated By:

 Will Rhode
Will Rhode
Principal
Boston Consulting Group

Will Rhode joined BCG in 2014 and is a Principal and a core member of the North American Capital Markets practice in New York. He has more than 15 years of experience in the capital markets industry. His areas of expertise include investment banking, market structure, sales & trading, technology, regulation and risk management. Prior to joining ...[Read More]

10:10 AM Morning Refreshment Break

10:50 AM Fireside Chat: Innovate to aggregate- How to leverage innovative technology to connect a fragmented market together

Jim Switzer, Head of Credit Trading, Alliance Bernstein

Rick Mcvey, Chairman and Chief Executive Officer, MarketAxess

  • What can you do from an efficiency standpoint to connect a fragmented fixed income market together?
  • The risk around data and analytics- how can you reduce fragmentation and understand different data points from different systems?
  • How can you gain data insights for a trading desk to maximize transparency and better understand when and where to trade?
  • How can you set up internal systems to discover this information at your discretion and make this into helpful, manageable data?
  • How can buy side use TRACE data, and platform data, learn how to use it, incorporate it into their portfolio and integrate this into their systems?
 Jim Switzer
Jim Switzer
Head of Credit Trading
Alliance Bernstein

James Switzer joined AllianceBernstein in 2011 as global Head of Credit Trading, overseeing both investment-grade and high-yield credit trading. Previously, he was a managing director at Société Générale, where he managed the Financial Institutions Credit Trading Desk, and at BNP Paribas, where he managed the Investment Grade Trading Desk from 2 ...[Read More]

 Rick Mcvey
Rick Mcvey
Chairman and Chief Executive Officer
MarketAxess
Richard M. McVey founded MarketAxess in April 2000 and has been Chairman and Chief Executive Officer since the firm's inception. Under his leadership, MarketAxess has emerged as the leading electronic platform for corporate bonds, creating an efficient and competitive marketplace for over 1,000 global institutional investors and broker-dealer firms ...[Read More]

11:10 AM All Star Panel: The do’s and don’ts of electronic trading- Where does eTrading work across the fixed income spectrum and when should you use it?

Moderated By:
Chris White
, CEO, ViableMKTS

Erik Tumasz, Managing Director, Fixed Income Trading Technology, Wellington Management

Iseult Conlin, VP, Trading and Liquidity Strategies, Blackrock

Eddie Wen, Macro Markets Global Head, Macro eCommerce

Steve Grob, Global Head of Strategy, Fidessa

Isaac Lieberman, Founder and CEO, Aston Capital Management

  • Voice vs. Electronic- Other than corporates, what other areas of fixed income are seeing electronic trading growth and how can you best utilize this?
  • Striking the balance- To what extent can automation replace the human touch?
  • Bilateral vs. automated execution- How can you establish which method of execution is best suited for certain market conditions?
  • Addressing the conflict between voice and electronic trading- How can you set up your internal teams to maximize the benefits of both forms of trading?
  • Will the methodology of eTrading eventually work across all fixed income asset classes or is it only best suited to certain products under certain conditions?
 Erik Tumasz
Erik Tumasz
Managing Director, Fixed Income Trading Technology
Wellington Management
Erik is the managing director of the Fixed Income Trading Applications Team. Erik and his team ensure products, specifically the Global Trading System Fixed Income, are developed and enhanced in line with trading objectives and industry best practices. Erik provides functional leadership, driving product design while ensuring that WMC products are ...[Read More]

 Iseult Conlin
Iseult Conlin
VP, Trading and Liquidity Strategies
Blackrock

 Eddie Wen
Eddie Wen
Macro Markets Global Head
Macro eCommerce

Eddie Wen is a Managing Director in the Macro Markets. Eddie joined J.P. Morgan in 2006 and is currently responsible for the development of the firm’s electronic trading strategies across the Macro markets (Foreign Exchange, Interest Rates, and Commodities). Prior to joining J.P. Morgan, Eddie was responsible for Quantitative Algorithmic Tradi ...[Read More]

 Steve Grob
Steve Grob
Global Head of Strategy
Fidessa

Isaac Lieberman
Founder and CEO
Aston Capital Management

Isaac Lieberman founded Aston Capital Management as a quantitative hedge fund in November 2013. As a veteran trader of proprietary quantitative strategies, Isaac has more than 20 years of experience trading in global FX and Fixed Income markets. Prior to founding Aston Capital Management, Isaac was Managing Director at J.P. Morgan where he was t ...[Read More]

Moderated By:

 Chris White
Chris White
CEO
ViableMKTS

Special Guest Speaker
11:50 AM Guest Speaker: Applying ‘The Big Short’ to todays market- How out-of-the-box thinking can drive your fund business in the next 3 years

Steve Eisman, The inspiration behind ‘The Big Short’ , Managing Director, Portfolio Manager, Neuberger Berman (Eisman group)

 Steve Eisman
Steve Eisman
The inspiration behind ‘The Big Short’ , Managing Director, Portfolio Manager
Neuberger Berman (Eisman group)

Lunch and Networking Break

12:20 PM Lunch and Networking Break

Exclusive Invite Only Buy Side Think-Tank

Exclusive Invite Only Buy Side Think-Tank: How can the buy side better collaborate to drive mutually beneficial initiatives forward

Dan Connell, Managing Director, Greenwich Associates

Open to 15 Global Heads of Trading from the top 20 US and Canadian asset managers

Join this interactive session, air your own hot topics and together, with our professional independent moderator, brainstorm ways forward in conjunction and collaboration with your peers.
 Dan Connell
Dan Connell
Managing Director
Greenwich Associates

Improving Transparency Across Bond Markets

1:40 PM Industry Perspective: TRACE for Treasuries- How can regulators work to improve transparency in the deepest, most liquid fixed income markets of the world?

Kevin McPartland, Managing Director, Head of Market Structure Research, Greenwich Associates

Susan Estes, CEO, Opendoor Trading

  • Aligning transparency in corporate bonds and treasuries- What steps are being taken to improve transparency in the treasury space?
  • How are regulators going to use the new treasury data to help prevent future potential flash crashes?
  • Trade reporting for treasuries- Will this lead to further regulation on treasuries to prevent another flash crash?
  • Is corporate bonds and TRACE a suitable roadmap- What has been learned from transparency and reporting in other markets?
  • Is there potential to make Treasury TRACE data available for public disclosure and if so when?
 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

 Susan Estes
Susan Estes
CEO
Opendoor Trading

MiFID II Workshop

Synergy Workshop: Navigating the MiFID II maze- All you need to know to practically prepare your trading desk for the January 2018 MiFID II deadline

Matthew Coupe, Director Market Structure, Barclays

  • Breaking down MiFID II- How will the new rules impact research, reporting, transparency and best execution in Europe and what will be the knock on effect for US entities?
  • What are the new reporting requirements when transacting with EU firms under MiFID II?
  • What should you put in place now to prepare for new transparency rules within MiFID II and how will this impact your ability to execute?
  • Establishing the real cost of research- How will unbundling work for US entities, how will it impact research costs and who will drive this?
  • What steps do you need to put in place now to mitigate the impact of MiFID II on your global trading business?
 Matthew Coupe
Matthew Coupe
Director Market Structure
Barclays

Adapting To The New Derivatives Reforms

Industry Perspective: New uncleared margin rules- Gain clarity on the impact they will have on your fixed income desk and the steps you should take now to meet these new requirements

Mark Gheerbrant, Head of Risk and Capital, International Swaps and Derivatives Association (ISDA)

  • A regulatory update on the plans by the CFTC Division of Clearing and Risk- Where are the current clearing proposals up to and how will you be impacted?
  • Margins for uncleared trades- What are the next ‘phased in’ periods and when will these come into force?
  • What impact will margin variation rules have on the buy side- Do the benefits outweigh the additional costs?
  • How will the later implementation date in Europe impact cross border compliance and could this lead to an uncompetitive global landscape?
  • What impact will the new clearing mandate have on the fixed income market structure once these changes are fully implemented? 
Mark Gheerbrant
Head of Risk and Capital
International Swaps and Derivatives Association (ISDA)

Rethinking Traditional Approaches

Synergy Workshop: The future outlook of active and passive investment management- As passive assets continue to rise, what is on the horizon for active managers?

Terry Flynn, Front Office Specialist & Team Lead, Simcorp

  • Given the success passive funds have had in recent years and the low cost to investors, is the trend in asset flows towards passive investments continuing or could there be a reversal of this trend? 
  • Passive vs. active investments in 2017/18- As we enter a rising rate environment are we set to see flows into active investments or will passive investments still provide the safest haven? 
  • How can you now plan and employ smart beta strategies as a hybrid solution to minimize cost while still delivering optimal, objective-driven portfolio investing? 
  • With smart beta, what are the implicit (i.e. ESG) and explicit (i.e. volatility) factors that can be used as levers with Equities, Fixed Income (i.e. duration, credit), and other asset classes? 
  • Alternative investments as a source of alpha- How are different buy side houses approaching alternative investments, and how do you manage the operational challenges presented by investing in these asset classes?
 Terry Flynn
Terry Flynn
Front Office Specialist & Team Lead
Simcorp

Terry is a senior member of sales team advising large investment managers in transforming their businesses from multiple disparate systems to an integrated front, middle and back office operating model. He has held a variety of senior sales roles with organizations such as Charles River, SunGard and Fidessa, and has extensive expertise is the fr ...[Read More]

Predicting The Impact Of Political Drivers

360 Perspective: Geo-political risk and deglobalisation- How can you exploit political drivers in 2017 to generate returns for your portfolio?

Moderated By:
David Saab
, Managing Director, JP Morgan Private Bank

Marc Chandler, Head of FX Strategy, Brown Brothers Harriman

  • How has recent geo-political uncertainly impacted market volatility and what impact does this have in fixed income investing?
  • With heightened political instability in both developed and emerging markets, what impact does this have on fixed income markets?
  • What do the major elections in Europe mean for the Eurozone on the back of Brexit- Is there a risk of further break-up?
  • Geo-political landscape from a risk management perspective- How can you structure a profitable portfolio on top of this?
  • Learning from past events- How can you use lessons from recent political events to best handle the unbalanced risks associated with major events in 2017? 
 Marc Chandler
Marc Chandler
Head of FX Strategy
Brown Brothers Harriman
Marc Chandler has 30 years of experience in the FX market, starting his current role at BBH in 2005 as Global Head Of Currency Strategy. His current research projects include global imbalance and the relationship between savings, investment and growth. Marc is often called upon to provide macro-economic expertise on CNBC and Bloomberg amongst other ...[Read More]

Moderated By:

 David Saab
David Saab
Managing Director
JP Morgan Private Bank

David Saab, Managing Director, is a member of the Private Bank’s manager selection team. Based in London, he is the global head of fixed income and absolute return funds. Prior to joining J.P. Morgan in 2011, he was working as a Portfolio Manager at Banque Privee Edmond de Rothschild. He headed their Fixed Income and Absolute Return fund researc ...[Read More]

Improving Transparency Across Bond Markets

2:00 PM 360 Perspective: How can you improve your pre-trade transparency capabilities to give you the power of choice on how to trade?

Moderated By:
Dan Barnes
, Editor, The Desk

Neal Rayner, Formerly Head of Fixed Income Trading - US, Formerly Aberdeen Asset Management

Stu Taylor, CEO, Algomi

Francis FA Romano, Head of Bondpoint Institutional, KCG

David Murray, Chief Business Development Officer, Corvil

  • Pre trade transparency- What is currently available for pre-trade and how can you aggregate this information to make more informed decisions?
  • How can you leverage technology and data to improve your pre-trade transparency?
  • How can you measure liquidity and capture data pre-trade to show buyers and sellers?
  • TRACE traders vs non-TRACE traders- What are the habits of TRACE traders and how does this influence how you trade?
  • Debate- Should treasuries have available TRACE data and be moved to a clearing model?
 Neal Rayner
Neal Rayner
Formerly Head of Fixed Income Trading - US
Formerly Aberdeen Asset Management

 Stu Taylor
Stu Taylor
CEO
Algomi

Francis FA Romano
Head of Bondpoint Institutional
KCG

David Murray
Chief Business Development Officer
Corvil

Moderated By:

 Dan Barnes
Dan Barnes
Editor
The Desk

Dan Barnes is editor of The DESK, the quarterly magazine for buy-side fixed-income traders in the US and Europe. The DESK has led on many fixed income stories including US Treasury market reform, published primary research into the use of corporate bond platforms and analysis of buy-side trading desk efficiency. An award-winning capital markets ...[Read More]

MiFID II Workshop

Session continues

Session continues

Adapting To The New Derivatives Reforms

Oxford Style Debate: True or false- The latest clearing requirements make OTC swaps trading less attractive and push the market towards listed derivatives

Moderated By:
Michael Kogler
, Principal, ViableMkts, LLC

Sol Steinberg, Founding Principal, The OTC Partners

Glenn Taitz, Head of Fixed Income Trading, Invesco

Christian Dopp, Senior Vice President, Fixed Income Sale, Eurex

True- Sol Steinberg, Regional Director, PRIMA
False- Glenn Taitz, Head of Fixed Income Trading, Invesco
  • As the OTC market moves further towards a clearing model, what are the issues in terms of cost and risk?
  • Is increased margin on uncleared transactions pushing buy side firms to trade exchange-traded derivatives to avoid additional costs?
  • Will the new uncleared margin requirements lead to an increase in voluntary clearing of ‘non-cleared’ products or is this not necessary?
  • Are adequate solutions available to make the clearing model more streamlined and efficient, or are the still improvements to be made?
  • With rules governing futures transactions being less restrictive than current swap rules, are we likely to see the futurization of swaps?
 Sol Steinberg
Sol Steinberg
Founding Principal
The OTC Partners

Glenn Taitz
Head of Fixed Income Trading
Invesco

Christian Dopp
Senior Vice President, Fixed Income Sale
Eurex
Christian Dopp is a Senior Vice President in Fixed Income Sales at Eurex. He covers both traditional and alternative asset managers throughout the United States and Canada for Eurex’s trading and clearing businesses. Additionally, he is responsible for the development of the exchange’s fixed income asset class within the Buy-Side community. C ...[Read More]

Moderated By:

 Michael Kogler
Michael Kogler
Principal
ViableMkts, LLC

Rethinking Traditional Approaches

Session continues

Session Continues

Predicting The Impact Of Political Drivers

Industry Perspective: Brexit ramifications- What are the tail risks of Brexit that will affect your fixed income investments in the medium to long term?

  • Will the EU market no longer be ‘single’ and become more of a tiered market on the back of Brexit?
  • London’s crown jewel- Can London realistically remain as a global financial powerhouse on the back of Brexit?
  • What are the implications of Brexit on Europe and the periphery Are we heading for further economic downturn?
  • Risk of contagion- Could other EU members follow suit and leave the EU in light of Brexit?
  • With the threat of a ‘hard Brexit’, what impact will this have on developed countries and Eastern Europe?

Improving Transparency Across Bond Markets

2:40 PM 360 Perspective: More than just box ticking- How can you use TCA to solidify your investment decisions?

Moderated By:
Kevin McPartland
, Managing Director, Head of Market Structure Research, Greenwich Associates

James Wallin, Senior Vice President, Fixed Income, Alliance Bernstein

Brandon Rassmussen, Senior Trader, Russell Investments Implementation Services Inc.

John James, Director of Business Development, Trading Analytics, Markit

Bill Gartland, Senior Director, Evaluated Services, ICE

  • What are the implementation policies and costs to make bespoke TCA for fixed income?
  • How can you utilize TCA to demonstrate best execution to clients, auditors and regulators in order to support and evidence your investment decisions?
  • How can TCA be used to add value throughout the full trade life cycle and not just as a post trade tool?
  • What makes a credible TCA system and how can more standardization be brought forward for fixed income TCA?
  • The future of TCA in fixed income- How far are we from seeing more trade data depth to enable the enrichment of existing offerings?
 James Wallin
James Wallin
Senior Vice President, Fixed Income
Alliance Bernstein

James Wallin is a Senior Vice President in AllianceBernstein’s Fixed Income group. Prior to joining AllianceBernstein, Wallin was at Morgan Stanley Investment Management, Evergreen Asset Management Corp. as Senior Counsel and Yamaichi Capital Management Inc., where he served as General Counsel and Chief Administrative Officer. Prior to working a ...[Read More]

 Brandon Rassmussen
Brandon Rassmussen
Senior Trader
Russell Investments Implementation Services Inc.

Brandon Rasmussen is a Senior Fixed Income Trader for Russell Investments. Brandon is responsible for the direction and oversight of global fixed income trading activity. The current product suite includes short term investments, exposure management, transition management, execution services, commission recapture, ETFs, emulation, interim portfo ...[Read More]

John James
Director of Business Development, Trading Analytics
Markit

Bill Gartland
Senior Director, Evaluated Services
ICE

Bill Gartland is a Director of Product Management at ICE Data Services and is responsible for the delivery of the Continuous Evaluated Pricing (CEP) product. He is a Chartered Financial Analyst with over 25 years of experience, beginning his career as a fixed income research analyst with Drexel Burnham. For the last 10 years, Bill has focused o ...[Read More]

Moderated By:

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

MiFID II Workshop

Session continues

Session Continues

Adapting To The New Derivatives Reforms

360 Perspective: What impact have the bilateral margin rules had on non-cleared OTC derivatives and how has this affected buy side trading models?

Moderated By:
Brad Bailey
, Research Director, Capital Markets, Celent

Lisa Seim, Principal, Strategic Exchanges

  • How was the transition to the non-cleared margin rules and how have the buy side adapted to the early changes in regulation?
  • How are the buy side measuring and posting initial margin and efficiently coping with the new requirements and what impact has this had on the products they trade? 
  • What products are going to be more prevalent in the new environment and what will move towards an exchange traded model?
  • How are all market participants ensuring the rules can be effective and minimise unintended consequences?
Lisa Seim
Principal
Strategic Exchanges

Moderated By:

 Brad Bailey
Brad Bailey
Research Director, Capital Markets
Celent

Brad is a research director with Celent's Securities and Investments practice, and is based in the firm's New York office. He is an expert in electronic trading of equities, foreign exchange derivatives, credit, rates, and futures. His research focus is on emerging technology and trading technology across asset classes. Brad has more than 20 yea ...[Read More]

Rethinking Traditional Approaches

Session Continues

Session Continues

Predicting The Impact Of Political Drivers

Oxford Style Debate: True or false- Now is the time for new fiscal policy as monetary policy will no longer stimulate the economy

Moderated By:
David Saab
, Managing Director, JP Morgan Private Bank

Adam Purzitsky, Co-Head, Rates Team, Old Mutual Global Investors

Joseph Casteluccio, President of Capital Markets and Head of Trading, CG Capital Markets

Leslie Vanderveen, Director, Public Bond Portfolio Management, Mutual of Omaha

  • How are central banking policies dictating fixed income performance and how can you best manage this dynamic?
  • The ineffectiveness of central banking policies- Have central banking policies not had the desired impact to improve the economy? 
  • How low can you go- Are rates set to drop further or is the only way up from here?
  • Do the central banks have anywhere else to turn with banking policies or is fiscal stimulus the only way forward now?
  • Currency markets in 2017 and beyond- Would fiscal policy provide the US economy with the boost it needs? 
 Adam Purzitsky
Adam Purzitsky
Co-Head, Rates Team
Old Mutual Global Investors

 Joseph Casteluccio
Joseph Casteluccio
President of Capital Markets and Head of Trading
CG Capital Markets

Mr. Castelluccio has over 40 years of Wall Street experience. His Wall Street career began in the OTC market place but that was short lived when he was introduced to the fixed income markets and he never looked back. He is currently President of Capital Markets and Head of Trading at CG Capital Markets in NYC. CG Capital Markets also has offi ...[Read More]

 Leslie Vanderveen
Leslie Vanderveen
Director, Public Bond Portfolio Management
Mutual of Omaha

Moderated By:

 David Saab
David Saab
Managing Director
JP Morgan Private Bank

David Saab, Managing Director, is a member of the Private Bank’s manager selection team. Based in London, he is the global head of fixed income and absolute return funds. Prior to joining J.P. Morgan in 2011, he was working as a Portfolio Manager at Banque Privee Edmond de Rothschild. He headed their Fixed Income and Absolute Return fund researc ...[Read More]

3:20 PM Afternoon Refreshment Break

Challenging Current Platform Models

3:50 PM 360° Perspective: The concept of ‘All to All’ (A2A) trading- Why have A2A models failed in the past and what indications are there that they will succeed now?

Moderated By:
Chris White
, CEO, ViableMKTS

Greg Heller, Director of Global Fixed Income Trading, MFS Investment Management

Alex Sedgwick, Head of Fixed Income Market Structure and Electronic Trading, T. Rowe Price

Eric Charron, Director, Co-Head of Global Public Markets Trading, Liberty Mutual Group

Rich Schiffman, Open Trading Product Manager, MarketAxess

Chris Bruner, Managing Director and Head of U.S. Credit Product, Tradeweb

Michael Sobel, President, TruMid

  • The move to A2A- Is there currently enough data and pricing in the market for the A2A protocol to be successful?
  • A2A and the concept of anonymity- is this good or bad for fixed income markets?
  • How can you improve price discovery and pre-trade transparency on A2A models?
  • Defragmentation- How can the high number of A2A models be consolidated to reduce fragmentation in the market?
  • Debate- Will A2A overtake RFQ and become the dominant form of trading in fixed income?
 Greg Heller
Greg Heller
Director of Global Fixed Income Trading
MFS Investment Management

Gregory C. Heller, CFA, is an investment officer and director of Global Fixed Income Trading at MFS Investment Management® (MFS®). He is based in Boston. He is a member of the MFS Global Fixed Income Management Team and serves on the firm's Investment Management Committee.
Greg joined MFS in 2002 as a municipal fixed income trader. He wa ...[Read More]

 Alex Sedgwick
Alex Sedgwick
Head of Fixed Income Market Structure and Electronic Trading
T. Rowe Price
Alex Sedgwick is head of Fixed Income Market Structure and Electronic Trading in Global Trading at T. Rowe Price. Mr. Sedgwick is responsible for custom research and analysis pertaining to market structure, liquidity, and trade cost/execution analysis across the various fixed income sectors. He is a vice president of T. Rowe Price Group, Inc., and ...[Read More]

 Eric Charron
Eric Charron
Director, Co-Head of Global Public Markets Trading
Liberty Mutual Group
Mr. Charron is a graduate of the University of Massachusetts where he earned a Bachelor’s Degree in Business Administration and the University of Vermont where he earned an Master’s Degrees in both Business Administration and Statistics. Mr. Charron has over 12 years of experience in varying Investment Management roles, including over 10 years of ...[Read More]

 Rich Schiffman
Rich Schiffman
Open Trading Product Manager
MarketAxess
Richard Schiffman is the Open Trading Product Manager. In this role, Mr. Schiffman is responsible for managing the development and implementation of the Open Trading, the firm’s all-to-all credit trading network.

He joined MarketAxess from BlackRock Financial Management where he was a Managing Director and CEO of BlackRock Capital M
...[Read More]

 Chris Bruner
Chris Bruner
Managing Director and Head of U.S. Credit Product
Tradeweb

Chris Bruner is a Managing Director and Head of U.S. Credit Product at Tradeweb Markets. He is focused on advancing the development of the firm’s product offering, and building the firm’s leading position in the global credit markets. Previously he worked in a senior credit trading role at JP Morgan Chase, and has extensive experience in credit ...[Read More]

 Michael Sobel
Michael Sobel
President
TruMid
Mike is the President of Trumid. He has 15 years of experience in the credit market. Mike is one of the original members of Trumid’s team, serving as a member of Management and the Client Team since the company’s founding. Prior to joining Trumid, Mike traded high yield bonds and CDS at Lehman Brothers and then Barclays. At Barclays he was a Managi ...[Read More]

Moderated By:

 Chris White
Chris White
CEO
ViableMKTS

ETFs Workshop

Workshop: Your A-Z guide on fixed income ETFs- How can you incorporate ETFs in your portfolio to give you increased liquidity and exposure?

Philip Cichlar, Head of ETF Sales and Trading, Jane Street

  • ETF Transparency- What benefits can ETFs bring to a fixed income portfolio and what are the potential risks associated with these?
  • What are the key characteristics of fixed income ETFs and what problems do they solve?
  • What are the risks of using ETFs in stressed market conditions and how do they perform?
  • How do fixed income ETFs compare to equity ETFs and where to the major differences exist?
  • Implementation and execution- How can you build ETFs into your portfolio and how are they traded?
 Philip Cichlar
Philip Cichlar
Head of ETF Sales and Trading
Jane Street

Phil has been a trader at Jane Street for over 7 years. He joined the ETF execution team from Jane Street’s proprietary fixed income desk where he was a senior fixed income trader. Phil is the team’s resident expert on fixed income ETFs. 

Phil played an instrumental role in building out Jane Street’s bond trading desk and is an expert ...[Read More]

Exploring Alternative Liquidity Sources

Oxford Style Debate: True or false- Non-bank Liquidty Providers (NBLP) are a positive addition to the fixed income market for the buy side and do not present too much risk

Moderated By:
Kevin McPartland
, Managing Director, Head of Market Structure Research, Greenwich Associates

Brad Bailey, Research Director, Capital Markets, Celent

Jon Herrick, Managing Director, Sun Trading

Jim Greco, Independent Expert, Former CEO and Founder, Direct Match

Isaac Lieberman, Founder and CEO, Aston Capital Management

  • High Frequency Traders as liquidity providers- Is the fixed income market readily available for HFT firms to come forward as alternative liquidity sources?
  • HFT and the buy side- How do HFT market making models differ and can they be relied upon during times of stress?
  • Alongside treasuries and futures, what other parts of the fixed income spectrum can facilitate HFT and what is the impact on liquidity?
  • What are the barriers to entry for HFT in other markets and how can they be overcome?
  • With increased electronic trading and new data points, what does the future hold for HFT in fixed income?
 Brad Bailey
Brad Bailey
Research Director, Capital Markets
Celent

Brad is a research director with Celent's Securities and Investments practice, and is based in the firm's New York office. He is an expert in electronic trading of equities, foreign exchange derivatives, credit, rates, and futures. His research focus is on emerging technology and trading technology across asset classes. Brad has more than 20 yea ...[Read More]

Jon Herrick
Managing Director
Sun Trading

Jim Greco
Independent Expert, Former CEO and Founder
Direct Match

 Isaac Lieberman
Isaac Lieberman
Founder and CEO
Aston Capital Management

Isaac Lieberman founded Aston Capital Management as a quantitative hedge fund in November 2013. As a veteran trader of proprietary quantitative strategies, Isaac has more than 20 years of experience trading in global FX and Fixed Income markets. Prior to founding Aston Capital Management, Isaac was Managing Director at J.P. Morgan where he was t ...[Read More]

Moderated By:

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

Blockchain Workshop

Leadership Boardroom: Unlocking blockchain’s potential- How can this new technology revolutionize capital markets to slash costs and reduce risk?

Igor Gramatikovski, Director of Settlement, Simcorp

  • How does blockchain work and what benefits can this new technology bring to capital markets as a whole?
  • Building Blockchain- What is the underlying structure to blockchain and how can this improve efficiency across the full trade lifecycle?
  • Integrating Blockchain- What are the realistic timelines for blockchain to become a reality in capital markets?
  • Challenging the status quo- What impacts could distributed ledger technology have on the market structure?
 Igor Gramatikovski
Igor Gramatikovski
Director of Settlement
Simcorp
Igor is based in London and responsible for SimCorp’s Trade Processing solution set and strategy. Prior to joining SimCorp, Igor worked as an Investor Market Manager at Citibank’s Securities and Fund Services. He joined Citi from Markit, where he held Business Development positions for the Credit Data and Portfolio Valuations service, and was respo ...[Read More]

Adjusting To A Rising Rate Environment

Case Study Revolution: Positioning your portfolio for rising rates- How can you best manage your fixed income investments in a rising rate environment?

Ben Emons, Chief Economist, Head of Credit Portfolio Management, Intellectus Partners

Michael Pond, Fixed Income Strategist, Barclays

  • When the FED finally does raise rates, how much will they rise and how fast will they rise?
  • What are the factors affecting interest rates and how can fixed income investments respond to the rate rise?
  • What is the impact of rising rates on fixed income returns and how can you best manage this to generate returns for your investors?
  • US vs. international investing- What role are central banks playing and where does the yield and risks lie?
 Ben Emons
Ben Emons
Chief Economist, Head of Credit Portfolio Management
Intellectus Partners

Michael Pond
Fixed Income Strategist
Barclays

4:35 PM Transit time to main conference room

Rethinking Traditional Models
4:40 PM Sell Side Perspective: The role of the sell side in a new fixed income landscape- How are tier 1 and tier 2 banks adapting and working with the buy side to continue offer a full service?

Moderated By:
Kevin McPartland
, Managing Director, Head of Market Structure Research, Greenwich Associates

  • How are the sell side maintaining their relationships with the buy side on the back of capital constraints and reduced risk appetite?
  • What are the technical building blocks to make an efficient market making business in fixed income?
  • Dealer balance sheets- How do the sell side make their balance sheets available for clients and how much of their business has changed on the back of capital constraints?
  • Beyond the bulge bracket- How can mid-tier players offer a niche service and where do they see themselves working with the buy side?
  • The future of the sell side trader- How do the sell side expect their roles to evolve over the coming years as innovation continues in fixed income markets?

Moderated By:

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

FinTech Shark Tank
5:20 PM Fixed Income Shark Tank: Disruptive technologies- What are the next big breakthroughs you should expect from the FINTECH world?

Edward Boyle, Global Macro Portfolio Manager, American Century Investments

David Weiss, Senior Analyst, Aite Group

Sol Steinberg, Founding Principal, The OTC Partners

Steve Toland, Founder, TransFICC

Geraldine Gibson, CEO and Founder, AQMetrics

Julia Streets, CEO, Streets Consulting

Join our fixed income sharks during this exciting ‘Shark Tank’ style session, where you will hear from four new and innovative start-up FINTECH firms as they present their offerings in a bid to win first place. Listen up as the ’sharks’ review the technologies’ benefits to your business, predict their future success and deliver their verdicts. The ultimate decision is in your hands though, as the audience get to vote for their favourite.

Will you find the next big thing?

Suggested Technologies:
  • Machine learning
  • Connectivity
  • Best Ex analytics
  • RegTech
  • Information flow
  • Sentiment Analysis
 Edward Boyle
Edward Boyle
Global Macro Portfolio Manager
American Century Investments

 David Weiss
David Weiss
Senior Analyst
Aite Group
David B. Weiss is a senior analyst with Aite Group, with more than five years’ experience covering multi-asset market structure, global derivatives, electronic trading, global financial regulation, and capital markets intellectual property, all with a subtle undercurrent of trading technology.

Mr. Weiss brings to Aite Group over 10
...[Read More]

 Sol Steinberg
Sol Steinberg
Founding Principal
The OTC Partners

 Steve Toland
Steve Toland
Founder
TransFICC
Steve founded TransFICC in 2016 after receiving requests from banks trading in Fixed Income and Derivative markets for a new technology approach to address fragmentation and speed of technology. Steve has over 25 years experience working in the global capital markets. In a previous role he was Head of LMAX Interbank, where he met his technology col ...[Read More]

 Geraldine Gibson
Geraldine Gibson
CEO and Founder
AQMetrics

Julia Streets
CEO
Streets Consulting

5:50 PM Chairperson's Closing Remarks

Kevin McPartland, Managing Director, Head of Market Structure Research, Greenwich Associates

 Kevin McPartland
Kevin McPartland
Managing Director, Head of Market Structure Research
Greenwich Associates

Kevin McPartland is a Managing Director and the head market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed income, FX, and equity markets. 

Prior to joining the Greenwich Associa ...[Read More]

5:55 PM Cocktail Drinks Reception