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Canada Gears up for ACI World Congress

Canada is preparing to welcome delegates to the 46th ACI World Congress in May, where a key theme will be ?convergence? and the role that rapidly growing economies are playing in shaping the global financial markets.

Around 1,000 delegates from the foreign exchange and money markets ? representing hundreds of banks and financial institutions in over 65 countries ? are expected to attend the three day congress in Montréal hosted by The Financial Markets Association of Canada. 

Sharon Grewal, chair of the congress (and executive director, foreign exchange at CIBC World Markets), says delegates can expect to gain insight on financial markets trends, learn about the latest in technology and information services and hear the views of leaders in the financial markets through keynote presentations, panel discussions and networking with global peers. 

An extensive trade exhibition will run alongside the business programme, the space of which has been expanded by a third after the original space earmarked for exhibitors sold out in December. Both the business sessions and exhibition will take place at the Palais des Congrès de Montréal.

A list of high-powered speakers and panelists will dominate the business programme including David Dodge, governor of the Bank of Canada, Timothy Geithner, president of the Federal Reserve Bank of New York and Tom Glocer, chief executive officer of Reuters, who are all lined up to give keynote addresses on the second day.

Registration and the official opening of the congress will take place on Thursday May 3 followed by a welcome reception in the evening sponsored by CME, Reuters and FXMarketSpace. The theme of the reception is ?Canada from Coast to Coast?, and will be held at Palais des Congrès de Montréal in an area divided into quadrants to represent the four regions of Canada: the Atlantic, Central Canada, the Prairies, and the West Coast.

Kick off

The business sessions will start the next day with Grewal and Evan Steel, president of the Financial Markets Association of Canada (and global head of currency options at TD Securities), kicking off the congress with opening addresses. 

The first panel discussion, moderated by David Clark, honorary past president of ACI ? The Financial Markets Association, will examine the impact of global investment flows on the development of currency markets. Panelists include Daniel Katzvie, North American strategist at UBS; Monica Fan, head of FX strategy, RBC Capital Markets; and Moti Jungreis, global head of foreign exchange, short term rates and foreign fixed income at TD Securities. 

An overview of ACI?s Model Code will follow, presented by Lynn Kennedy, managing director of foreign exchange at BMO Capital Markets. The Model Code is a set of guidelines on market practices in the forex markets compiled by ACI?s Committee for Professionalism. 

The second panel discussion entitled ?Converging Economic Influences ? A Central Bank Perspective? will feature central bankers discussing the role of emerging economies and how they are impacting developed economies. Global trade and investment flow trends will also be examined in context of financial market and currency market impacts and the panelists will highlight domestic financial market trends that they expect to occur over the coming years.

Panelists include Yiu-Kwan Choi, deputy chief executive of the Hong Kong Monetary Authority; David Margolin Schabes, director general, central bank operations, Banco de Mexico; and Daniel Mminele, executive general manager of the Reserve Bank of South Africa. 

The ACI General Assembly, led by Godfried de Vidts, president of ACI, will take place at the end of the day, followed by an evening networking event sponsored by Icap entitled ?Montréal – Where the World Converges?. The evening is billed as a high octane event that will provide delegates with the international flavours and sizzling sounds of Montréal ? both past and present ? at Marché Bonsecours in Old Montréal and will feature jazz bands and musicians throughout the evening.

Grande Finale

Saturday will open with a panel looking at alpha and the currency markets, moderated by Susan Storey, managing director, head of global trading, debt capital markets, CIBC World Markets. 

The panelists will discuss the evolving role of foreign exchange in alternative investment strategies, the track record of currency in generating alpha, the contribution of investment flows and alpha strategies to currency volatility and the opportunities for generating alpha in the currency markets of developed versus emerging economies.

The second panel of the day will look at the future of FX ? past, present and beyond. Moderator Andrew Busch, director, BMO global FX market strategist, Harris Nesbitt global FX market strategist will oversee discussions on the challenges that the FX market has faced and how lessons learned have brought the market to its current state. The panelists, who include Vince Butkiewicz, vice president, financial markets, National Bank of Canada and Todd McDonald, regional head of FX for the Americas, Standard Chartered Bank, will also be asked to make predictions on how the future will shape out. 

Closing out the panel sessions will be a discussion on one of the major issues facing the industry: FX liquidity and electronic platforms ? where will the flow go? Moderated by Colin Lambert, editor of Profit & Loss, the panel will explore recent developments in FX electronic trading, touching on key issues such as liquidity depth and breadth, risk aggregation, buy side to buy side pricing, the impact of algorithmic trading, access to credit and trading anonymity and whether liquidity will migrate to one pool of liquidity. 

The panelists include Mark Robson, CEO, FXMarketSpace; James Sinclair, head of research, Icap Electronic Broking; Ian O?Flaherty, head of FX e-commerce at Deutsche Bank, John Caccavale, head of FX, Americas, at Barclays Capital; and Simon Wilson Taylor, worldwide head of State Street?s Global Link.

Saad Jamaluddin, chair of ACI?s board of education will then give an overview of ACI?s education programmes.

The congress grand finale ?  a gala evening to be held at the historic Windsor Station ? will see ACI Austria accept the ceremonial flag to carry through to next year?s ACI World Congress, which will take place in Vienna on May 29-31.

This year?s congress will be open to members and non ACI members alike, Grewal says, in an effort to raise an awareness of the work carried out by ACI. 

Profit & Loss

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