Fixed Income Future Leaders USA 2017

May 16 - 18, 2017

Westin Copley Place - Boston

+44 (0)207 368 9330

 Michael Kogler
Michael Kogler Senior Executive and Relationship Manager Milepost Capital Management

Day 1- Wednesday May 17th 2017

2:00 PM Oxford Style Debate: True or false- The latest clearing requirements make OTC swaps trading less attractive and push the market towards listed derivatives

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?

Day 2- Thursday 18th May 2017

11:50 AM 360 Perspective: Opening the door to OTC ‘All to All’- What are the structural impediments restricting the evolution of the OTC markets and what can be a catalyst for change?

  • Trade execution in swaps- Is a dominant ‘order book’ beyond the realms of possibility in OTC trading?
  • Do the buy side desire more access to IDB liquidity and if so how can this be achieved?
  • The growth of D2C volumes for swaps- How are these venues adapting to offer new models of execution to the buy side?
  • With traditional incumbents dominating, how can any market utility change behaviour to shift liquidity to a new venue?
  • The future of SEF trading- Do the buy side have the appetite to trade on an order book over RFQ in the long term?

12:50 PM 360 Perspective: SEF Leaders- What is next in the SEF market structure and how will they evolve?

  • What new protocols are SEFs offering across the swap market to attract new market participants?
  • How are regulators enforcing rules around record keeping, impartial access, and trade reporting?
  • US vs EU - How are SEF’s assisting the buy side with geopolitical risks and cross-border regulation in swaps?
  • Which instruments are next to be made available to trade and how will this impact the buy side?
  • What functionalities of SEF trading can help with the development of eTrading in the derivatives space?