Fixed Income Future Leaders USA 2017

May 16-May 18, 2017

Westin Copley Place - Boston

44 (0)207 368 9330

Kevin McPartland

Head of Market Structure Research
Greenwich Associates

Kevin McPartland is the head of the Greenwich Associates Market Structure and Technology practice. He has 15 years of capital markets industry experience with deep regulatory and technology expertise in fixed income, FX, and equity markets. Kevin has presented at a wide range of industry conferences and is quoted regularly in the financial media including The Economist, Wall Street Journal, NY Times, Financial Times, and numerous other industry publications. He has also provided live and taped commentary for CNBC, National Public Radio, Bloomberg TV and Reuters TV.



Day 1- Wednesday May 17th 2017

08:25 AM Chairperson's Opening Remarks

08:30 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?

  • 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?

11:30 AM Fireside Chat: Beyond the Network- Improving access to liquidity through flexible and integrated workflows

13:40 PM Industry Perspective: TRACE for Treasuries- How can regulators work to improve transparency in the deepest, most liquid fixed income markets of the world?

  • 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?

On April 25th, OpenDoor launched an innovative trading platform specifically designed to reliquify off-the-run Treasuries and TIPS. The platform is all-to-all, session-based and anonymous. OpenDoor offers free access to the browser-based platform, and the blind platform ensures zero information leakage. The combination of these features offers traders and fiduciaries the perfect venue to enforce best execution protocols. In order to preserve existing dealer relationships as well as the post trade process, the end-user chooses the dealer it wishes to face for settlement and clearing. While dealers are encouraged to trade on the platform for their proprietary desks, their primary role is as your clearing agent.

14:40 PM 360 Perspective: More than just box ticking- How can you use TCA to solidify your investment decisions?

  • 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?

15:50 PM 360° Perspective: Setting yourself up to work with non-traditional liquidity providers- what issues currently exist and how can you overcome these for increased liquidity?

  • 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?

18:00 PM Chairperson's Closing Remarks