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Profit & Loss Hong Kong 2017

November 14th 2017

Venue:

Profit & Loss Hong Kong 2017

JW Marriott Hotel Hong Kong , Pacific Place, 88 Queensway

Hong Kong, China


Contact: Cindy Jiang, Email: cindy@profit-loss.com, Phone: +44 20 7382 0335

Event Sponsors

Exhibitors

Event Preview

Non-Exhibiting Vendor: USD$1495

Free to attend for the buy-side and bank attendees based in Asia

Please note that registered delegates’ email addresses will be passed to event sponsors. If you do not wish your details to be shared, please notify bkaur@profit-loss.com . P&L Services Ltd will not share your details with any third party other than confirmed sponsors of this event as listed on this page.

Event Programme

8:00-9:00             Registration and Trade Show Opens

9:00-9:30             Keynote Address (TBA)

9:30-10:30           Panel 1: Asia Growth Outlook: Sustaining the        
                            Momentum

In its latest regional outlook, the International Monetary Fund (IMF) estimates that economic growth in Asia Pacific will increase to 5.5% in 2017 and that the region will continue to be the leader of overall global growth. What are the key factors that are driving this growth, and is it sustainable? As Europe and the US endure a period of geopolitical uncertainty, will investors look to Asia for both opportunity and security?

This panel will also discuss:

  • Which Asian countries will drive growth in the region?
  • How will trading relationships change now that the US is is pulling back from the Trans Pacific Partnership (TPP)?
  • Are Asian economies especially vulnerable to protectionism due to their openness to trade and integration to global value chains?
  • Does slow productivity growth and population aging represent a long-term challenge for Asian economies?
  • What impact will central bank policies have on Asian growth?
  • Where are the pockets of opportunity for Hong Kong?

10:30-11:00        Morning Coffee Break

11:00-11:30        Peer2Peer Interview:
                            “Clearing, OTC and Uncleared Margin Requirements: Where do we go from here?”

11:30-12:30        Panel 2: CNY vs CNH – How will the onshore/offshore debate settle?

Internationalisation of the RMB would be a game changer for Hong Kong’s FX market. How can Hong Kong best position itself to maintain its standing as a major currency centre? Can China attract a diversity of market participants onshore? Can the CNY be both an asset for global investors, as well as a funding currency? How can Hong Kong best position itself for the challenges ahead?

This panel will also discuss:

  • What are the barriers to growth of CNH trading?
  • Will Hong Kong continue to be the hub for North Asia and Singapore for South Asia?
  • What is the impact of RMB volatility?
  • How is the onshore/offshore yuan market likely to evolve?
  • What are the challenges for RMB as a payments currency?

12:30-1:30           Lunch

1:30-2:00             Peer2Peer Interview: “House of Cards?”

As banks have reduced the availability of credit, market participants are seeking alternative means to access the FX market. Is the contraction of the FX prime brokerage business creating a credit structure in FX that is in danger of turning into a ‘house of cards’ that could topple?

This panel will also discuss:

  • Will the availability of credit return, or will smaller buy side players be edged out of the market?
  • Is concentration risk in the prime services industry the next big crisis?
  • Is Prime-of-Prime a viable alternative?
  • Can alternative credit and clearing structures change how the FX market operates?

2:00-2:45              Panel 3: Are Digital Currencies Here to Stay?” 

In its relatively short lifespan, bitcoin has survived major legal scandals (Silk Road), the collapse of the biggest bitcoin trading venue (Mt. Gox), a major hack where roughly $70 million in bitcoin was stolen (Bitfinex) and a hard fork in its underlying blockchain (the creation of bitcoin cash). And yet not only has bitcoin survived each of these, but it is continuing to thrive, reaching record valuations in 2017. On top of this, trading in other cryptocurrencies, such as ethereum, have grown significantly over the past year. But do cyrptocurrencies have any value or use to the broader financial services industry?

This panel will also discuss:

  • Can bitcoin ever move into the financial mainstream?
  • What advantages do alt coins – such as ethereum and ripple – offer when compared to bitcoin?
  • How safe is trading cryptocurrencies?
  • What are the technical challenges limiting the scalability of cryptocurrencies?
  • What is the significance of the various regulatory announcements by regulators regarding cryptocurrencies?

2:45-3:15        Afternoon Coffee Break

3:15-4:00        Panel 4 - Execution: Cause & Effect

A key element of MiFID II is that firms executing trades have to take “all sufficient steps” to prove best execution rather than “all reasonable steps” under the previous regime. Is this subtle but important change in the language likely to be the catalyst that sees a surge in the use of algorithms to execute FX trades? Algos are widely seen as the answer to ensuring execution, but are there links between execution strategies and market impact? Is more thought needed around the strategies being used to execute risk? What is the next phase of evolution for single- and multi-contributor trading platforms?

This panel will also discuss:

  • What is driving algo take up?
  • Are there inherent conflicts in using bank provided algos?
  • Are expectations of TCA realistic?
  • Does internalisation have a place in the post-MiFID II era?
  • Should the industry evolve from RFQs to alternate trading protocols or order books?
  • What type of algo strategies should clients be using?

4:00-5:00         Panel 5 - FinTech: Promise or Peril?

There are two broad narratives around the recent growth of, and investment in, FinTech. The first is that FinTech firms are looking for places where they can use technology to disintermediate incumbent financial institutions. The second is that these firms are bridging the gap between technology and financial services, creating new efficiencies and offering new revenue sources for established financial services firms. Will FinTech firms change financial services or become part of the establishment?

This panel will also discuss:

  • In what ways is FinTech already changing how capital markets operate?
  • Are Artificial Intelligence (AI) and machine learning destined to change trading?
  • Will blockchain and Distributed Ledger Technology (DLT) solutions change the way that post-trade processes operate?
  • Which financial services firms are most at risk from being supplanted by FinTech?
  • What are the challenges facing regulators in the fast-changing FinTech world?

5:00-7:00              Closing Reception