Wednesday, March 27, 2019
Free to attend for the buy-side
Sell Side: US$700
Vendor: Please contact Sales: cindy@profit-loss.com , michelle@profit-loss.com , or jack@profit-loss.com
The definition of “Buy side” firms means end user clients (ie, investing institutions such as mutual funds, pension funds, insurance companies, hedge funds, CTAs, asset managers, and corporates). Buy side firms may have investors as clients, but have no trading clients. Technology, platform and service providers of any type, including broker-dealers and prime of primes that may be clients of other firms but have trading clients of their own, do not fall into the definition of “buy side” firms.
Agenda
1:30-2:00pm – Coffee & Registration (Coffee break sponsored by ParFX)
2:00-2:45pm – Panel 1: Trading in Volatile Markets: Is Brexit Just the Beginning?
Brexit is one of the big “known unknown” risk events in 2019 that seems certain to inject volatility into the currency markets - so how should firms be positioning themselves ahead of it? Meanwhile, there are plenty of other factors that seems certain to move markets in 2019: from a US president intent on pursuing trade wars to a seemingly unstable political situation in Europe and divergence of central bank monetary policies. Looking ahead, what will be the main drivers of the currency markets and where will be the key opportunities to secure profits appear?
This panel will also discuss:
- Global macro is back on the agenda for investors – is this a boon for FX?
- Is the use of big FX hedges to reflect global capital flow risks on the rise?
- Will normalising central bank monetary policies reveal new market risks?
- How should trading firms position themselves amidst ongoing trade wars?
- Does EM offer the best carry trade opportunity set in all of FX?
- What will be the impact of an economic slowdown in China?
2:45-3:00pm – Coffee Break (Sponsored by ParFX)
3:00-3:30 – Panel 2: Credit – Is it being priced correctly?
In recent years there has been a significant re-pricing of credit, but are there more adjustments to come? What is the future of direct credit relationships? Has the push for futures clearing and SEFs hit a limit? Can FX create a path whereby credit disintermediation allows for peer-to-peer clearing on platforms?
This panel will also discuss:
- How can new linkups between bank FXPBs and trading platforms address bilateral credit issues?
- How are the structures of FXPB businesses changing in response to client demands?
- As markets price in a recession, credit and bank-to-bank risks start to matter again – is this the real story for 2019?
- Large non-banks and other HFT models may face a PB pushback – how likely are big banks to shut off some of their credit access and what would be the implications of this on liquidity?
- Is case for real money clients using FXPB services growing?
3:30-3:45pm – Coffee Break (Sponsored by ParFX)
3:45-4:15pm – Panel 3: Market Impact – Finding Execution Styles that Work
Can market impact ever be a good thing? The advance of TCA has seen a surge in interest in terms of the market impact created by a particular trade and more recently, data is being used to dissect the impact of individual or portfolios of trades. Meanwhile, Algos are increasingly being used by a broader segment of FX market participants. What is the best way to analyse transaction costs?
This panel will also discuss:
- Is it time to reconsider using fixings? What are the alternatives?
- Is algo execution the best way to achieve BestEx?
- What role does data play in building a strategy?
- Fees vs Performance – how to effectively factor both into execution analysis
- Measuring reject rates – is there more to it than meets the eye?
- Can Algos hide the deal effect on markets or reduce volatility?
- What will the next generation of Algos look like?
4:15-4:30pm – Coffee Break (Sponsored by ParFX)
4:30-5:00pm – Panel 4: The Investor’s Perspective: Allocation Trends in 2019 and Beyond
Institutional allocators, wealth managers and family offices want the best performance possible from their portfolios, but what does “best” really mean for these firms? When they allocate towards hedge funds or other alternatives, are they looking for improved returns or for portfolio diversification? And what are the trends that will drive allocation decisions in 2019?
This panel will also discuss:
- How will broader macroeconomic trends and monetary policy decisions dictate allocation decisions this year?
- Is there a stigma about allocating to FX-focused funds? Is it better branding to be “global macro”? Can currencies really provide uncorrelated returns?
- After a period of poor performance, do CTAs still have a role to play in investor portfolios?
- What type of fee structures are investors increasingly gravitating towards?
- Beyond pedigree and performance, how can fund managers differentiate themselves in allocator’s eyes?
- Will assets continue to consolidate in the largest funds or is there more value to be had in smaller firms?
5:00-7:00 – Reception
