Skip to main content

Profit & Loss Singapore 2018

November 20th 2018

Venue:

Profit & Loss Singapore 2018

The Westin Singapore,

12 Marina View, Asia Square Tower 2, Singapore 018961

Singapore


Contact: Cindy Jiang, Email: cindy@profit-loss.com, Phone: 0207 382 0335

In Association with

Platinum Sponsor

Gold Sponsor

Silver Sponsor

Event Sponsors

Event Supporters

Event Preview

Non-Exhibiting Vendor: USD$1595

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

Banks (Not located in Asia) - USD$500

Register

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

9:00-9:45        Special Session: The Buy Side and the Global Code - A Meeting of the Minds?

What lessons can be learned from those that have committed to the Global Code? How can commitment to the Global Code be improved amongst the buy side? Is the FX industry adequately protected by the Global Code or is it still vulnerable to the lowest common denominator when it comes to behaviour? 

This panel will also discuss:
• What do the adherence mechanisms look like?
•  How is compliance being determined?
• What are the practicalities around implementation?
• How are firms melding the Global Code with their own, internal Codes of Conduct?
• Should there be a “register of offenders” for those that violate tenets of the Code?

Speakers:

Chee Kin Lam, Managing Director & Head, Group Legal, Compliance & Secretariat, DBS Bank
Cindy Mok, Executive Director, Head of Monetary & Domestic Markets Management Department, MAS
Goh Seng Ti, General Manager, Finance & Administration, Isuzu Motors Asia Limited

9:45-10:30       Panel 1 - EMFX: Time to Buckle Up?

With the US Federal Reserve continuing to raise interest rates and signs that the US president’s trade war is escalating, it looks like emerging markets currencies could be in for a bumpy ride. How should FX traders be managing this volatility, and where will the pockets of opportunity be going forward?

This panel will also discuss:

• Which currencies are likely to take the biggest hits from rising US rates?
• Are trade tariffs impacting supply chains in Asia?
• Will Asia’s strong economic fundamentals prove to be an effective buffer against volatility?
• Can China ease liquidity conditions, support growth and allow a weaker CNY without triggering capital outflows?

Moderator: David Clark, Chairman, EVIA
Speakers:
Nick Ferres, CIO, Vantage Point Asset Management
Mitul Kotecha,  Senior EM Strategist, TD Securities
Jeff Ward, Global Head of NDFs and Forwards & Head of FX Asia, NEX Markets
Yang Zhiming, Head of EM Asia FX Derivatives ,Deutsche Bank

10:30-11:00     Morning Coffee Break
 
11:00-12:00     Panel 2: The Future of Liquidity Provision

After a sustained period of growth, many FX banks have spent the last few years trimming the client tail and prioritising where they send liquidity. Improved data capabilities have been a driver of this change as clients are judged on value, not volume. What does this mean for those clients that are not seen as valuable? Will there be a continued push towards disclosed, often bilateral trading? Will the agency model gain ground as banks’ FX operations find it harder to sustain a principal-based model?

This panel will also look at:

• Will the buy side ever be able to step in as genuine liquidity providers?
• What do market conditions look like if banks continue to be more careful where they price?
• Will the customers with an aggressive execution style be forced onto public venues? Is this good news for the ECNs?
• How is liquidity in non-spot products changing?

Moderator: Mark Bruce, Head of FICC, Jump Liquidity
Speakers:
Trent Beacroft , Head of APAC, FastMatch
Jamie Salamon, COO Asia Pacific, 360T
John Shay, Sales, Senior Advisor, Broadway Technology
Noel Singh, Head of eFX Business Development, Sucden Financial Limited
Jon Watras, Head of FX Sales APAC, Cboe

12:00-12:30      Fireside Chat: "How Will Artificial Intelligence Change FX Trading?" with Damien Loh, CIO, Ensemble Capital

12:30-1:30      Lunch
 
1:30-2:00    Presentation:  Making Sense Out of Chaos: The Insider's View of the Current State of Play in Washington by Justin Slaughter, Partner, Mercury Strategies

2:00-2:45   Panel 3: “What Comes Next in the Evolution of the OTC Vs. Exchange Dynamic?”

The debate about whether FX trading will ultimately move to an exchange model has raged for years, but it seems now that the answer to this question is far less binary than the industry had once imagined. Exchange groups, increasingly owners of OTC FX trading platforms, are now launching different products that effectively blur the traditional boundaries between the OTC and futures markets. Meanwhile, central clearing continues to gain traction in the FX market, seemingly creating a new hybrid model that is executed OTC but processed post-trade through clearing houses. What do these changes mean for the future of the industry?

This panel will also discuss:

  • What are the challenges associated with bridging the gap between OTC and listed markets?
  • What will it take for these new exchange products to really gain traction?
  • Where are the key friction points associated with OTC trading today?
  • Do we need a new credit model for FX?

Speakers:
Paul Houston, Executive Director, Global Head of FX, CME Group
KC Lam, Head of FX and Rates, SGX
Dave Reid, Global Head of FX Prime Broking (FXPB), Deutsche Bank

2:45-3:15      Afternoon Coffee Break
 
3:15-4:15  Panel 4: Consolidation and the Birth of Crypto 3.0

If Crypto 1.0 was fuelled by miners and early bitcoin adopters, and Crypto 2.0 was driven by the massive wave of retail flow into the cryptocurrency space, what factors will push this market to institutionalise and reach Crypto 3.0?

This panel will also discuss:

• How much longer will the current fragmentation of the liquidity landscape prove sustainable?
• Will the crypto space ever coalesce around one custody model?
• Where is M&A activity most likely to occur, and how will it drive institutional activity?
• Will traditional finance and crypto-focused firms prove to be partners or competitors?
• The evolution of APAC as a hub for crypto-trading

Moderator: Galen Stops, Editor, Profit & Loss
Speakers:
Scott Weatherill, Chief Risk Officer, Japan B2C2
Peter Sin, Co-Head of Digital Currency Sub-Committee, ACCESS-Singapore Cryptocurrency and Blockchain Industry Association
Su Zhu, Founder and CEO, Three Arrows Capital
Scott Moffat, Managing Director, Asia Pacific, LMAX Exchange

4:15-5:00    Panel 5: Best Execution: More than Just a Buzzword

Slippage, signaling risk and execution quality are top concerns amongst the buy side. Do clients’ execution styles have an impact on execution quality? What are the alternatives to executing during a Fixing to get large sizes done without leaving a footprint?

This panel will also discuss:

  • How do single-dealer platforms compare with multi-contributor platforms on these issues?
  • What factors should go into a TCA report?
  • How reliable are pre-trade data analytics – are they just a source of justification rather than best execution?
  • Can a cross-asset view improve FX trading?

Moderator: Colin Lambert, Managing Editor, Profit & Loss
Speakers:
Chris Knight, Distribution and Liquidity Management, XTX Markets
Kenneth Ho, Head of FX e-Distribution, Asia, Morgan Stanley
Ping Tan, Global Head of eFX Liquidity & Head of Asia eFX Trading, Bank of America Merrill Lynch
Jonathan Woodward, 
Head of Transactions Sales, Asia Pacific, Refinitiv
Jacqueline Liau, Managing Director, Head of Distribution Platforms, Asia Pacific, HSBC

5:00-7:00 Networking Reception - Poolside