2019 Annual Conference
Thursday, May 9, 2019
09:00 – 09:10 Conference Welcoming Remarks
- Pat Kenny, Association of Futures Markets;
09:10 – 09:30 Fireside chat with Terry Duffy, Chairman and CEO of CME
09:30 – 10:45 Roundtable 1: The Changing Landscape of Derivatives
A few FCMs have left the business, and a few new ones have joined. Firms are becoming swap dealers, and emergent companies are looking at how new technology may disrupt the industry. Products have been launched that bring new participants to the market and cause incumbents to reevaluate their processes for trading and clearing. Technology providers have consolidated, leading to vertical integration between front office and back office technology. These are just some of the trends that have occurred recently – but what do they mean for the health of the industry? What are the drivers in harnessing future growth of the market – product development, technology disruption, regulation or market services enhancement? As many markets have growing appetite for cryptocurrencies and blockchain technologies, how do emerging markets respond to the trend?
10:45 – 11:15 Coffee break
11:15 – 12:30 Roundtable 2: Cryptocurrencies and Digital Asset Exchanges
Crypto has thrived by being on the fringes. We discuss the likely impact on growth if it becomes subject to mainstream regulation. Will regulation bring cryptos to the top table in terms of acceptability to the broader market?
12:30 – 14:00 Lunch
14:00 – 14:20 Case study presentation: TBD
14:20 – 15:40 Roundtable 3: The outlook for CCPs
In light of new margin requirements imposed on uncleared derivatives trades globally, the demand for greater capital efficiency is increasing. What’s the trend for central clearing of the over-the-counter derivatives? Would the dominant CCPs nowadays become too big to fail? Should more exchanges or other parties join in scratching the global market of CCP business?
15:40 – 16:00 Coffee Break
16:00 – 17:00 AFM General Assembly (for Association members only!)
Friday, May 10, 2019
09:00 – 10:30 Visit to CME
10:30 – 11:00 Coffee Break
11:00 – 12:15 Roundtable 4: Global Market Developments and Their Impact on Exchanges: Brexit and beyond; The US-China Trade War
Listed and cleared derivatives markets are facing potential regulatory change driven by a range of geopolitical developments. This panel of regulatory experts will highlight the key areas of development including the impact of Brexit, the futures of equivalence recognition and cross-border supervision. In addition, panelist will share insights on the opportunities for new products emerging to reflect current and future trends, and the landscape of the commodity market to be reshaped under the tension of the new trade war.
12:15 – 13:45 Lunch
13:45 – 15:00 Roundtable 5: MIFID II
After 15 months where are we with MIFID II. Generally is regulation truly supportive of market development?
15:15 – 15:30 Coffee Break
15:30 – 16:30 Roundtable 6: Exchange panel
The panel will feature new and/or small exchanges and it will talk about the challenges of start-up, their early experiences, lessons learnt etc.
16:30 – 16:45 Look to the Future and Concluding Remarks
- Paul Constantinou, AFM President