Derivatives Forum Frankfurt 2023

The Derivatives Forum Frankfurt 2023 was held as a hybrid event, with thought leadership insights, industry debates, keynote speeches and physical networking opportunities. The Derivatives Forum Frankfurt took place on March 22 and 23 at the Congress Center.

With core themes such as Markets & Regulation, Derivatives & Portfolio Management, Liquidity & Collateral Management, Sustainability & Carbon, Technology & Digital Assets, the Derivatives Forum Frankfurt is the leading European event focused on trading and clearing for derivatives and securities financing across asset classes.

Derivatives Forum Frankfurt 2023 – Wrap up!

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Agenda

09:15 - 10:15 Networking Breakfast - Women In Derivatives (WIND) Open for all registered ladies Speakers: Annette Weisbach, Correspondent Germany, CNBC Sharon Bains-Kler, F&O E-Sales EMEA, BofA Securities and WIND Ambassador Sarah Jourdan, Managing Director Treasury Chief Investment Office, J.P. Morgan Christina Sell, Chief Sustainability Officer Trading & Clearing, Deutsche Börse Laetitia Teuber, Managing Director, Société Générale
10:30 - 10:40 Welcome & Housekeeping Notes Michael Peters, CEO Eurex and Annette Weisbach, Correspondent Germany, CNBC
10:40 - 10:55 Keynote: CCP supervision in challenging times Klaus Löber, Chair of the CCP Supervisory Committee, European Securities and Markets Authority (ESMA)
10:55 - 11:15 Keynote with Deutsche Bank Fabrizio Campelli, Member of the Management Board, Deutsche Bank
11:15 - 12:00 Navigating macro uncertainty in 2023 2022 was a tumultuous year, of which the full effects remain to be seen. The short-term focus is navigating the fallout from the energy crisis, while long-term reducing carbon emissions by 2030. At the same time, volatility in financial markets has persisted amid global inflationary pressures and disruptions to global supply chains – and it remains to be seen if its peaked yet. To kick-off the Derivatives Forum Frankfurt 2023 our esteemed panelists will discuss political and macro-economic developments within the EU and beyond and the implications for the financial markets? One year post invasion – what is the EU's geopolitical role following the Russian invasion of Ukraine? Stability and Growth Pact - suspended since the pandemic, when and how are these rules being reintroduced? Crisis - how to reconcile business, climate and politics in 2023? How are the current political risks reshaping the financial landscape? Moderator: Annette Weisbach, Correspondent Germany, CNBC Speaker: Fabrizio Campelli, Member of the Management Board, Deutsche Bank Florian Toncar, Parliamentary State Secretary, Federal Ministry of Finance Germany Thomas Book, Executive Board Member, Deutsche Börse
12:50 - 13:05 Keynote: Outlooks for Markets and Volatility Marko Kolanovic, Chief Global Market Strategist & Co-Head of Global Research, J.P. Morgan
13:06 - 13:25 Keynote: The return of Inflation – here to stay? Sabine Mauderer, Executive Board Member, Deutsche Bundesbank
13:30 - 14:15 The return of Inflation – here to stay? The rise of inflation was driven, for the most part, by the aftermath of the pandemic and the war in Ukraine. But what is the future path of inflation and what are the implications for monetary policies and long-term stability? Will the ECB be able to keep inflation expectations in check – and do they need to be more active? How are geo-political events and central bank intervention shaping fixed income and equity markets? What is the future path of inflation in Europe and the U.S.? How will the U.S. Fed approach interest-rate hikes in 2023? What is the current state of play in inflation derivatives? One year post invasion – what is the EU's geopolitical role following the Russian invasion of Ukraine? Stability and Growth Pact - suspended since the pandemic, when and how are these rules being reintroduced? Crisis - how to reconcile business, climate and politics in 2023? How are the current political risks reshaping the financial landscape? Moderator: Jeremy Grant, Freelance Writer & Editor Speaker: Friederike Koehler-Geib, Chief Economist, KfW Martin Lück, Investment Strategist, BlackRock Thilo Rossberg, Head of FICC Markets, LBBW Goya Subramanian, Managing Director, Co-Head of EU Rates Trading J.P. Morgan Product Innovation - Focus: Equity & Index Futurization Futurization has brought new products and instruments into the realm of listed derivatives. But what opportunities remain and how are they being developed? Futurization innovation process and challenges What is the opportunity for the buy-side from futurization? Index Total Return Futures (TRF) and Equity & Basket TRFs Thematic and Systematic Indices Moderator: Luke Jeffs, Managing Editor, Global Investor Group Speaker: Omar Bennani, Head of EMEA Delta One Trading, J.P. Morgan Elena Marchidann, Equity and Index Products Design, Eurex Serkan Batir, Managing Director, Global Head Index Product Development and Benchmarks, Qontigo Natasha Sibley, Fund Manager, Janus Henderson Investors
14:25 - 15:10 Sustainability and the Role of Derivatives - A view from the Nordics Policies around the globe aim to reduce emissions and drive investment to more sustainable businesses and technologies. Financial markets have a key role to play in the transition. What is the role of derivatives as a means of helping firms meet their sustainability objectives? What are the real drivers for ESG Derivatives in the Nordics – and why are those not being applied the same way in other regions? What are the challenges with implementing different strategies? Crisis - how to reconcile business, climate and politics in 2023? How are the current political risks reshaping the financial landscape? Moderator: Will Mitting, CEO, Acuiti Speaker: Anette Andersson, Senior Sustainability Investment Specialist, SEB Investment Management Kristin Wallander, Senior Sustainability Analyst, Swedbank Robur Magnus Linder, Portfolio Optimization & Derivatives Trading, Swedbank Robur Antonio Celeste, Director, Sustainability Product Management, Qontigo Demystifying Euro Clearing How has the overall uncertainty, changing rates and an increased need for hedging a broader marketplace changed the setting – and the behavior of buy and sell side firms when it comes to Euro Clearing? What happened since prolonging the equivalence of UK CCPs until 30 June 2025? What can we really derive from the Eurex-LCH basis? Is reduced concentration risk more important than ever before? Moderator: Lukas Becker, Markets Desk Editor, FX Markets Speaker: Gaspard Bonin, Deputy Global Head of Derivatives Execution & Clearing, BNP Paribas Scott O'Malia, CEO, ISDA Erik Müller, CEO, Eurex Clearing Christoph Hock, Head of Multi-Asset Trading, Union Investment Development in the European Bond Market Economies across Europe are facing higher interest rates at a time of debt levels unprecedented in modern times. As showed in 2022, decisions can have a dramatic impact on interest rates and government borrowing costs. How much capacity is there for further borrowing in European bond markets? Are investors becoming wary in this volatile changing yield environments? What does 2023 have in store for European bond markets? Moderator: Dominic Webb, Reporter, Responsible Investor Speaker: Thomas Weinberg, Head of Trading & Issuing Business, Federal Republic of Germany - Finance Agency Natacha Hilger, Managing Director, Relationship Manager European Debt, Deutsche Bank Frank Gast, Managing Director and Member of the Management Board, Eurex Repo Michaël Soued, Head of Aggregate and Multi Asset Total Return, Ostrum Asset Management
15:20 - 16:05 Where are the growth opportunities today in European derivatives markets? How can we emulate the growth we have seen in U.S. options markets in Europe? How to bring retail flow to the listed market in Europe? What products have the biggest growth opportunities? Moderator: Will Mitting, CEO, Acuiti Speaker: Paul Jiganti, Managing Director, Head of Business Development & Market Structure Strategy, IMC Eric Böss, Managing Director Global Head of Trading, Allianz Global Investors Philipp Schultze, Head Equity & Index Sales EMEA, Eurex Focus Pension Funds: Central clearing of OTC IR derivatives – a blessing in disguise? With mandatory central clearing of OTC interest rate derivatives around the corner for pension funds, this panel will look at what this really means in terms of efficiencies and challenges? Is repo market access a prerequisite for Pension Scheme Arrangements (PSAs) in a centrally cleared world? Which role does the end of the time-limited equivalence for UK CCPs play in this context? Strategic opportunities from central clearing and how to achieve margin and collateral efficiencies across the clearing and repo value chain How to maintain liquidity for pension funds during times of market stress? Moderator: Ross Lancaster, Head of Research, Acuiti Speaker: Matti Leppälä, Secretary General/CEO, PensionsEurope Max Verheijen, Director Financial Markets, Cardano Jamie Gavin, Head of OTC Prime Clearing – EMEA, Société Générale Frank Odendall, Head of Securities Financing Product & Business Development, Eurex Where are the growth opportunities today in European derivatives markets? Despite the extreme price declines of the crypto winter and the shock collapses, institutions have not abandoned their interest in digital assets. Is it time for a reset of the crypto opportunity? Does the institutional adoption timeline of digital assets remain on track? What are alternative models of market access – and are those real alternatives? What can we expect in terms of listed product launches? What is to be expected from the legislative framework for digital assets? Moderator: Radi Khasawneh, Derivatives Editor, Global Investor Group Speaker: Kristen Mierzwa, Director, Head of Digital Assets, FTSE Russell Rafael Zanatta, Equity & Index Sales EMEA, Eurex Thomas Uhm, Global Crypto Institutional Sales & Trading, Jane Street Maha Al-Saadi, Compliance and Regulatory Affairs Director, Bankhaus Scheich
16:35 - 16:50
16:55 - 17:40 Exchange Panel - the transformation and digitalization of capital markets in 2023 and beyond Exchanges have been traditionally at the heart of innovation. While transformation is a constant in every industry today, the rate of change in technology even further accelerated the flux in capital market What trends are driving change for global exchanges and how are they helping investors meet the challenges of the post-covid world? Moderator: Jeremy Grant, Freelance Writer & Editor Speaker: Roland Chai, EVP & Head of Marketplace technology, Nasdaq Michael Peters, CEO, Eurex Rochak Lamba, Head of Innovation for Financial Services, North America, Google Cloud Christoph Hock, Head of Multi-Asset Trading, Union Investment Philipp Baecker, Expert Partner, Bain & Company
17:45 - 18:30 Trading Carbon Markets Global markets for trading carbon credits are being established - but what is current status and how can market participants ensure markets are transparent and verifiable? What role will carbon markets play in the transition? Where are we today in terms of the roll out of carbon markets? How can the market establish common methodologies and standardization and what is the role of regulation? What are the challenges to building a global market for carbon trading? Moderator: Dominic Webb, Reporter, Responsible Investor Speaker: Aude Filippi, Director Sustainability Markets, EEX Kavita Ahluwalia, Vice President and Head of Global Positioning, Uniper Florian Rothenberg, Senior Analyst, ICIS Managing your liquidity needs With rising interest rates, the end of Quantitative Easing and the end of the flagship TLTRO III.4 tranche expiring in June 2023, the need for relevant collateralized financing and money market instruments will increase. What are available liquidity management tools to address rising liquidity needs for treasury desks on both the sell and buy side. How will pension fund clearing impact demand for repo? Moderator: Radi Khasawneh, Derivatives Editor, Global Investor Group Speaker: Katja Renner, FIC Derivatives & Repo Sales, Eurex Repo Andreas Biewald, Managing Director Treasury Senior Advisor Liquidity and Collateral, Commerzbank Oliver Deutscher, Head of Department Money Market, Collateral Management and SFT Trading, DZ Bank Fireside chat: Clearing Innovation & trends In this panel, experts across the trading and clearing ecosystem will discuss some of the most pressing operational and technology challenges of the future – and how to respond with innovative technologies for the exchange traded and cleared derivatives industry. Trade allocation process - creating standards and consistency across the industry Trade give-in process - reducing complexity across various settlement timings Average pricing methodologies - allowing equitable allocations for multiple accounts Moderator: Rebecca Healey, Managing Partner, Redlap Consulting Speaker: Per Haga, Global Head of PDS Product, Barclays Nick Solinger, President & CEO, FIA Tech Melanie Weber, SVP Derivatives Clearing Design, Eurex Clearing Christoph Holthaus, Global Head of Listed Derivatives, Fund Execution and Money Markets EMEA, Investment Operations, DWS
18:30 Closing Remarks Annette Weisbach, Correspondent Germany, CNBC
18:30 - 20:00 Networking Reception Open to all attendees
19:30 - 01:00 Derivatives Night @ Senckenberg Museum

09:15 - 10:15

Networking Breakfast - Women In Derivatives (WIND)

Open for all registered ladies

Speakers:

Annette Weisbach, Correspondent Germany, CNBC
Sharon Bains-Kler, F&O E-Sales EMEA, BofA Securities and WIND Ambassador
Sarah Jourdan, Managing Director Treasury Chief Investment Office, J.P. Morgan
Christina Sell, Chief Sustainability Officer Trading & Clearing, Deutsche Börse
Laetitia Teuber, Managing Director, Société Générale

10:30 - 10:40

Welcome & Housekeeping Notes

Michael Peters, CEO Eurex and Annette Weisbach, Correspondent Germany, CNBC

10:40 - 10:55

Keynote: CCP supervision in challenging times

Klaus Löber, Chair of the CCP Supervisory Committee, European Securities and Markets Authority (ESMA)

10:55 - 11:15

Keynote with Deutsche Bank

Fabrizio Campelli, Member of the Management Board, Deutsche Bank

11:15 - 12:00

Navigating macro uncertainty in 2023

2022 was a tumultuous year, of which the full effects remain to be seen. The short-term focus is navigating the fallout from the energy crisis, while long-term reducing carbon emissions by 2030. At the same time, volatility in financial markets has persisted amid global inflationary pressures and disruptions to global supply chains – and it remains to be seen if its peaked yet. To kick-off the Derivatives Forum Frankfurt 2023 our esteemed panelists will discuss political and macro-economic developments within the EU and beyond and the implications for the financial markets?

One year post invasion – what is the EU's geopolitical role following the Russian invasion of Ukraine?
Stability and Growth Pact - suspended since the pandemic, when and how are these rules being reintroduced?
Crisis - how to reconcile business, climate and politics in 2023?
How are the current political risks reshaping the financial landscape?

Moderator:

Annette Weisbach, Correspondent Germany, CNBC

Speaker:

Fabrizio Campelli, Member of the Management Board, Deutsche Bank
Florian Toncar, Parliamentary State Secretary, Federal Ministry of Finance Germany
Thomas Book, Executive Board Member, Deutsche Börse

12:50 - 13:05

Keynote: Outlooks for Markets and Volatility

Marko Kolanovic, Chief Global Market Strategist & Co-Head of Global Research, J.P. Morgan

13:06 - 13:25

Keynote: The return of Inflation – here to stay?

Sabine Mauderer, Executive Board Member, Deutsche Bundesbank

13:30 - 14:15

The return of Inflation – here to stay?

The rise of inflation was driven, for the most part, by the aftermath of the pandemic and the war in Ukraine. But what is the future path of inflation and what are the implications for monetary policies and long-term stability?

Will the ECB be able to keep inflation expectations in check – and do they need to be more active?
How are geo-political events and central bank intervention shaping fixed income and equity markets?
What is the future path of inflation in Europe and the U.S.?
How will the U.S. Fed approach interest-rate hikes in 2023?
What is the current state of play in inflation derivatives?

One year post invasion – what is the EU's geopolitical role following the Russian invasion of Ukraine?
Stability and Growth Pact - suspended since the pandemic, when and how are these rules being reintroduced?
Crisis - how to reconcile business, climate and politics in 2023?
How are the current political risks reshaping the financial landscape?

Moderator:

Jeremy Grant, Freelance Writer & Editor

Speaker:

Friederike Koehler-Geib, Chief Economist, KfW
Martin Lück, Investment Strategist, BlackRock
Thilo Rossberg, Head of FICC Markets, LBBW
Goya Subramanian, Managing Director, Co-Head of EU Rates Trading J.P. Morgan

Product Innovation - Focus: Equity & Index Futurization

Futurization has brought new products and instruments into the realm of listed derivatives. But what opportunities remain and how are they being developed?

Futurization innovation process and challenges
What is the opportunity for the buy-side from futurization?
Index Total Return Futures (TRF) and Equity & Basket TRFs
Thematic and Systematic Indices

Moderator:

Luke Jeffs, Managing Editor, Global Investor Group

Speaker:

Omar Bennani, Head of EMEA Delta One Trading, J.P. Morgan
Elena Marchidann, Equity and Index Products Design, Eurex
Serkan Batir, Managing Director, Global Head Index Product Development and Benchmarks, Qontigo
Natasha Sibley, Fund Manager, Janus Henderson Investors

14:25 - 15:10

Sustainability and the Role of Derivatives - A view from the Nordics

Policies around the globe aim to reduce emissions and drive investment to more sustainable businesses and technologies. Financial markets have a key role to play in the transition.

What is the role of derivatives as a means of helping firms meet their sustainability objectives?
What are the real drivers for ESG Derivatives in the Nordics – and why are those not being applied the same way in other regions?
What are the challenges with implementing different strategies?

Crisis - how to reconcile business, climate and politics in 2023?
How are the current political risks reshaping the financial landscape?

Moderator:

Will Mitting, CEO, Acuiti

Speaker:

Anette Andersson, Senior Sustainability Investment Specialist, SEB Investment Management
Kristin Wallander, Senior Sustainability Analyst, Swedbank Robur
Magnus Linder, Portfolio Optimization & Derivatives Trading, Swedbank Robur
Antonio Celeste, Director, Sustainability Product Management, Qontigo

Demystifying Euro Clearing

How has the overall uncertainty, changing rates and an increased need for hedging a broader marketplace changed the setting – and the behavior of buy and sell side firms when it comes to Euro Clearing?

What happened since prolonging the equivalence of UK CCPs until 30 June 2025?
What can we really derive from the Eurex-LCH basis?
Is reduced concentration risk more important than ever before?

Moderator:

Lukas Becker, Markets Desk Editor, FX Markets

Speaker:

Gaspard Bonin, Deputy Global Head of Derivatives Execution & Clearing, BNP Paribas
Scott O'Malia, CEO, ISDA
Erik Müller, CEO, Eurex Clearing
Christoph Hock, Head of Multi-Asset Trading, Union Investment

Development in the European Bond Market

Economies across Europe are facing higher interest rates at a time of debt levels unprecedented in modern times. As showed in 2022, decisions can have a dramatic impact on interest rates and government borrowing costs.

How much capacity is there for further borrowing in European bond markets?
Are investors becoming wary in this volatile changing yield environments?
What does 2023 have in store for European bond markets?

Moderator:

Dominic Webb, Reporter, Responsible Investor

Speaker:

Thomas Weinberg, Head of Trading & Issuing Business, Federal Republic of Germany - Finance Agency
Natacha Hilger, Managing Director, Relationship Manager European Debt, Deutsche Bank
Frank Gast, Managing Director and Member of the Management Board, Eurex Repo
Michaël Soued, Head of Aggregate and Multi Asset Total Return, Ostrum Asset Management

15:20 - 16:05

Where are the growth opportunities today in European derivatives markets?

How can we emulate the growth we have seen in U.S. options markets in Europe?
How to bring retail flow to the listed market in Europe?
What products have the biggest growth opportunities?

Moderator:

Will Mitting, CEO, Acuiti

Speaker:

Paul Jiganti, Managing Director, Head of Business Development & Market Structure Strategy, IMC
Eric Böss, Managing Director Global Head of Trading, Allianz Global Investors
Philipp Schultze, Head Equity & Index Sales EMEA, Eurex

Focus Pension Funds: Central clearing of OTC IR derivatives – a blessing in disguise?

With mandatory central clearing of OTC interest rate derivatives around the corner for pension funds, this panel will look at what this really means in terms of efficiencies and challenges?

Is repo market access a prerequisite for Pension Scheme Arrangements (PSAs) in a centrally cleared world?
Which role does the end of the time-limited equivalence for UK CCPs play in this context?
Strategic opportunities from central clearing and how to achieve margin and collateral efficiencies across the clearing and repo value chain
How to maintain liquidity for pension funds during times of market stress?

Moderator:

Ross Lancaster, Head of Research, Acuiti

Speaker:

Matti Leppälä, Secretary General/CEO, PensionsEurope
Max Verheijen, Director Financial Markets, Cardano
Jamie Gavin, Head of OTC Prime Clearing – EMEA, Société Générale
Frank Odendall, Head of Securities Financing Product & Business Development, Eurex

Where are the growth opportunities today in European derivatives markets?

Despite the extreme price declines of the crypto winter and the shock collapses, institutions have not abandoned their interest in digital assets. Is it time for a reset of the crypto opportunity?

Does the institutional adoption timeline of digital assets remain on track?
What are alternative models of market access – and are those real alternatives?
What can we expect in terms of listed product launches?
What is to be expected from the legislative framework for digital assets?

Moderator:

Radi Khasawneh, Derivatives Editor, Global Investor Group

Speaker:

Kristen Mierzwa, Director, Head of Digital Assets, FTSE Russell
Rafael Zanatta, Equity & Index Sales EMEA, Eurex
Thomas Uhm, Global Crypto Institutional Sales & Trading, Jane Street
Maha Al-Saadi, Compliance and Regulatory Affairs Director, Bankhaus Scheich

16:35 - 16:50

16:55 - 17:40

Exchange Panel - the transformation and digitalization of capital markets in 2023 and beyond

Exchanges have been traditionally at the heart of innovation. While transformation is a constant in every industry today, the rate of change in technology even further accelerated the flux in capital market What trends are driving change for global exchanges and how are they helping investors meet the challenges of the post-covid world?

Moderator:

Jeremy Grant, Freelance Writer & Editor

Speaker:

Roland Chai, EVP & Head of Marketplace technology, Nasdaq
Michael Peters, CEO, Eurex
Rochak Lamba, Head of Innovation for Financial Services, North America, Google Cloud
Christoph Hock, Head of Multi-Asset Trading, Union Investment
Philipp Baecker, Expert Partner, Bain & Company

17:45 - 18:30

Trading Carbon Markets

Global markets for trading carbon credits are being established - but what is current status and how can market participants ensure markets are transparent and verifiable?

What role will carbon markets play in the transition?
Where are we today in terms of the roll out of carbon markets?
How can the market establish common methodologies and standardization and what is the role of regulation?
What are the challenges to building a global market for carbon trading?

Moderator:

Dominic Webb, Reporter, Responsible Investor

Speaker:

Aude Filippi, Director Sustainability Markets, EEX
Kavita Ahluwalia, Vice President and Head of Global Positioning, Uniper
Florian Rothenberg, Senior Analyst, ICIS

Managing your liquidity needs

With rising interest rates, the end of Quantitative Easing and the end of the flagship TLTRO III.4 tranche expiring in June 2023, the need for relevant collateralized financing and money market instruments will increase.

What are available liquidity management tools to address rising liquidity needs for treasury desks on both the sell and buy side.
How will pension fund clearing impact demand for repo?

Moderator:

Radi Khasawneh, Derivatives Editor, Global Investor Group

Speaker:

Katja Renner, FIC Derivatives & Repo Sales, Eurex Repo
Andreas Biewald, Managing Director Treasury Senior Advisor Liquidity and Collateral, Commerzbank
Oliver Deutscher, Head of Department Money Market, Collateral Management and SFT Trading, DZ Bank

Fireside chat: Clearing Innovation & trends

In this panel, experts across the trading and clearing ecosystem will discuss some of the most pressing operational and technology challenges of the future – and how to respond with innovative technologies for the exchange traded and cleared derivatives industry.

Trade allocation process - creating standards and consistency across the industry
Trade give-in process - reducing complexity across various settlement timings
Average pricing methodologies - allowing equitable allocations for multiple accounts

Moderator:

Rebecca Healey, Managing Partner, Redlap Consulting

Speaker:

Per Haga, Global Head of PDS Product, Barclays
Nick Solinger, President & CEO, FIA Tech
Melanie Weber, SVP Derivatives Clearing Design, Eurex Clearing
Christoph Holthaus, Global Head of Listed Derivatives, Fund Execution and Money Markets EMEA, Investment Operations, DWS

18:30

Closing Remarks

Annette Weisbach, Correspondent Germany, CNBC

18:30 - 20:00

Networking Reception

Open to all attendees

19:30 - 01:00

Derivatives Night @ Senckenberg Museum

09:30 - 10:15 Index Leaders: Thematic Indexes & structural trends Demand for thematic indexes is growing significantly as investors look for cost-effective ways to take positions on themes and sectors. As the number of investable products proliferates, how can the buyside take advantage? What are the megatrends shaping the way we live? What is the difference between an emerging- and megatrend? What are new approaches to capture trends? Is the trend shifting from sectors to thematic? Moderator: Jeremy Grant, Freelance Writer & Editor Speakers: Axel Lomholt, Senior Managing Director, Chief Product Officer, Qontigo Norbert van Veldhuizen, Head of Equity Index Product EMEA, FTSE Randolf Roth, Executive Board Member, Eurex
10:25 - 11:10 Liquidity Management in a volatile interest rate environment Money market stability and the efficiency of monetary policy transmission are at the crossroads. Where can policy and product innovation bring stability? Policy choices in an environment of monetary policy normalization Catalysts for product innovation in money markets and liquidity management How is cleared Repo creating new opportunities for the buy-side and their banks? Moderator: Radi Khasawneh, Derivatives Editor, Global Investor Group Speakers: Imène Rahmouni-Rousseau, Director General of Market Operations, European Central Bank Matthias Graulich, Executive Board Member, Eurex Clearing Andy Hill, Senior Director ICMA Building a holistic sustainable investment strategy across asset classes This panel will discuss the main challenges for firms wishing to leverage derivatives to manage ESG related risk. Move beyond ESG integration into a more complete strategy Leveraging ESG Derivatives for sustainable investment strategies How to source ESG liquidity across asset classes? Moderator: Ross Lancaster, Head of Research, Acuiti Speakers: Robert Switzer, Senior Derivatives Sales Trader Susquehanna Davide Masi, Fixed Income ETD Product Design, Eurex Vasileios Koutsoulis, Derivatives and Fixed Income Index Product – EMEA, Executive Director, MSCI Stefan Thomsen, Multi-Asset Trading Desk, Union Investment Clearing Cross-asset volatility in 2023 Inflation, rate hikes and recession fears continue to keep cross-asset volatility elevated Where are the smart hedging opportunities? What other volatility trades are working right now? Moderator: Andreas Schmidt, Equity Derivatives Application Specialist, Bloomberg Speakers: Daniel Kutschker, Head of Multi Asset, LBBW AM Bernhard Brunner, Partner, finccam Florian Reibis, Head of Portfolio Management Structured Products, HSBC Asset Management Deutschland Alex Chatfield, Global equity volatility trading, Optiver
11:40 - 12:10 Fireside chat: Reconciling business, climate and politics in 2023 Joschka Fischer, Former Vice Chancellor & Foreign Minister of Germany Moderator: Annette Weisbach, Correspondent Germany, CNBC
12:20 - 12:35
13:20 - 14:05 Energy markets and the road to sustainability during crisis Energy markets were at the centre of the economic storm in 2022 as Russia cut supply to Europe and energy prices experienced heightened volatility. How have exchange traded energy markets coped with the impact of price volatility? Will 2023 be as volatile as 2022? How important is sustainability during times of political and economic crisis and what role do energy markets play? Moderator: Radi Khasawneh, Derivatives Editor, Global Investor Group Speakers: Steffen Riediger, Director Business Development Power & Global Commodity Markets, EEX Piotr Listwoń, Vice- President, Polish Power Exchange Gijs Stroink, ABN AMRO Clearing Bank NV Evolution of Collateral Management What were the latest developments in collateral management – and what more is to come in terms of collateral optimization, counterparty risk mitigation and liquidity management? How has regulation shaped collateral management? What is the latest best practice with regards to collateral management? How are the sell-side firms changing their approaches to collateral management? Should intra-day margin calls to clients become industry standard – not just during times of volatility? Moderator: Amy Caruso, Head of Collateral Initiatives, ISDA Speakers: Phil Simons, Global Head of Fixed Income & FX Derivatives and Repo Sales, Eurex Daniel Johnson, Futures & Derivatives Clearing Treasurer - EMEA & ASIA, J.P. Morgan Neil Murphy, triResolve Business Manager, OSTTRA FX Clearing trough block trades and EFPs Market participants in FX want to combine the best of both worlds: achieving optimal portfolios through clearing while benefitting from deep OTC liquidity and bilateral trade relationships. The panel discusses FX futures and their use cases in a traditionally bilateral FX market. What drives the growing interest for listed alternatives? Why are FX futures increasingly traded as block trades and EFPs? How can clients access OTC FX liquidity when trading FX futures? How are FX futures traded differently to FX forwards and swaps? Moderator: Lukas Becker, Markets Desk Editor, FX Markets Speakers: Jens Quiram, Global Co-Head FIC Derivatives & Repo Sales, Eurex David Holcombe, Head of Product: FX Futures & FX Clearing, 360T Ian Lomas, Head of FX Futures Trading, Société Générale Shuo Wu, Global Head of Forward eTrading, Deutsche Bank
14:15 - 14:35 Keynote: Asset management as a decisive factor for Europe's future Manfred Bauer, Head of Product Division, Member of the Executive Board, DWS Group
14:45 - 15:30 Credit Training in 2023 Volatility soared in 22 as Europe is gradually exiting a decade of ultra-low rates environment. Inflationary pressures leading to higher borrowing costs have caused credit spreads to widen in 2022, as fears of recession rise. What products are available to hedge existing portfolios against duration and credit risk in one go? How will Credit markets respond to a prolonged recession? How are futures based on credit indices performing from a trading perspective? Credit Trading and ESG Moderator: Ross Lancaster, Head of Research, Acuiti Speakers: Lee Bartholomew, Global Head of Fixed Income Product R&D, Eurex Juan Reig Mascarell, Global Head of Credit Solutions & Exotics Trading, J.P. Morgan Energy Transition: The Investor's View Unfazed by ideological discussions, the energy transition, a global transformation of energy systems away from fossil fuels to renewable and clean energy sources by 2050, is clearly on its way. What does this mega trend mean for markets, investment managers, and investors? Structural and market-driven opportunities Role and opportunities for investment managers Can impact and retail investors help “move the needle” while getting ROI? Moderator: Matthias Knab, CEO, Opalesque Speakers: Nataliya Shybanova, Head of Investor Solutions, AQUIS Capital AG Jie Hayes, FRM Managing Principal, Songbird Capital Matt Fernley, Head of Research & MD of Battery Materials Review, Westbeck Capital Structured products & Derivatives Despite an overall difficult market environment in 2022, structured products did offer a better return compared to some other asset classes. But with inflation growing – how will performance be affected in 2023? This panel will discuss the challenges and opportunities that come along structured products with a focus on sustainability. What are the challenges and opportunities for structured products? Structured products and ESG – fit for the future? How do structured products fit into a broadly diversified portfolio? Moderator: Serge Nussbaumer. CEO, Payoff Speakers: Romain Sellem, Structured Solutions & Systematic Strategies, BofA Securities
15:40 - 16:25 The future of Risk Management Regulators and industry executives alike are maintaining a watchful eye on clearinghouse risk, especially given the recent extreme market volatility and its impact on the markets. How did CCP margin methodologies perform during recent market volatility? How did Variation Margin and Initial Margin evolve? What was market participant level of anticipation and preparedness to strong market moves and margin calls? Anything that CCPs and market participants have learnt from the notable events in recent past? Is interconnectedness and interplay between Cleared and Uncleared exposures fully understood? Moderator: Teo Floor, CEO, CCP12 Speakers: Dmitrij Senko, Chief Risk Officer, Eurex David Horner, Chief Risk Officer, LCH Lee Betsill, Managing Director and Chief Risk Officer, CME Clearing Marcelo Carvalho, CCP Chief Risk Officer, B3
16:25 Concluding Remarks Annette Weisbach, Correspondent Germany, CNBC

09:30 - 10:15

Index Leaders: Thematic Indexes & structural trends

Demand for thematic indexes is growing significantly as investors look for cost-effective ways to take positions on themes and sectors. As the number of investable products proliferates, how can the buyside take advantage?

What are the megatrends shaping the way we live?
What is the difference between an emerging- and megatrend?
What are new approaches to capture trends?
Is the trend shifting from sectors to thematic?

Moderator:

Jeremy Grant, Freelance Writer & Editor

Speakers:

Axel Lomholt, Senior Managing Director, Chief Product Officer, Qontigo
Norbert van Veldhuizen, Head of Equity Index Product EMEA, FTSE
Randolf Roth, Executive Board Member, Eurex

10:25 - 11:10

Liquidity Management in a volatile interest rate environment

Money market stability and the efficiency of monetary policy transmission are at the crossroads. Where can policy and product innovation bring stability?

Policy choices in an environment of monetary policy normalization
Catalysts for product innovation in money markets and liquidity management
How is cleared Repo creating new opportunities for the buy-side and their banks?

Moderator:

Radi Khasawneh, Derivatives Editor, Global Investor Group

Speakers:

Imène Rahmouni-Rousseau, Director General of Market Operations, European Central Bank
Matthias Graulich, Executive Board Member, Eurex Clearing
Andy Hill, Senior Director ICMA

Building a holistic sustainable investment strategy across asset classes

This panel will discuss the main challenges for firms wishing to leverage derivatives to manage ESG related risk.

Move beyond ESG integration into a more complete strategy
Leveraging ESG Derivatives for sustainable investment strategies
How to source ESG liquidity across asset classes?

Moderator:

Ross Lancaster, Head of Research, Acuiti

Speakers:

Robert Switzer, Senior Derivatives Sales Trader Susquehanna
Davide Masi, Fixed Income ETD Product Design, Eurex
Vasileios Koutsoulis, Derivatives and Fixed Income Index Product – EMEA, Executive Director, MSCI
Stefan Thomsen, Multi-Asset Trading Desk, Union Investment Clearing

Cross-asset volatility in 2023

Inflation, rate hikes and recession fears continue to keep cross-asset volatility elevated
Where are the smart hedging opportunities?
What other volatility trades are working right now?

Moderator:

Andreas Schmidt, Equity Derivatives Application Specialist, Bloomberg

Speakers:

Daniel Kutschker, Head of Multi Asset, LBBW AM
Bernhard Brunner, Partner, finccam
Florian Reibis, Head of Portfolio Management Structured Products, HSBC Asset Management Deutschland
Alex Chatfield, Global equity volatility trading, Optiver

11:40 - 12:10

Fireside chat: Reconciling business, climate and politics in 2023

Joschka Fischer, Former Vice Chancellor & Foreign Minister of Germany

Moderator:

Annette Weisbach, Correspondent Germany, CNBC

12:20 - 12:35

13:20 - 14:05

Energy markets and the road to sustainability during crisis

Energy markets were at the centre of the economic storm in 2022 as Russia cut supply to Europe and energy prices experienced heightened volatility.

How have exchange traded energy markets coped with the impact of price volatility?
Will 2023 be as volatile as 2022?
How important is sustainability during times of political and economic crisis and what role do energy markets play?

Moderator:

Radi Khasawneh, Derivatives Editor, Global Investor Group

Speakers:

Steffen Riediger, Director Business Development Power & Global Commodity Markets, EEX
Piotr Listwoń, Vice- President, Polish Power Exchange
Gijs Stroink, ABN AMRO Clearing Bank NV

Evolution of Collateral Management

What were the latest developments in collateral management – and what more is to come in terms of collateral optimization, counterparty risk mitigation and liquidity management?

How has regulation shaped collateral management?
What is the latest best practice with regards to collateral management?
How are the sell-side firms changing their approaches to collateral management?
Should intra-day margin calls to clients become industry standard – not just during times of volatility?

Moderator:

Amy Caruso, Head of Collateral Initiatives, ISDA

Speakers:

Phil Simons, Global Head of Fixed Income & FX Derivatives and Repo Sales, Eurex
Daniel Johnson, Futures & Derivatives Clearing Treasurer - EMEA & ASIA, J.P. Morgan
Neil Murphy, triResolve Business Manager, OSTTRA

FX Clearing trough block trades and EFPs

Market participants in FX want to combine the best of both worlds: achieving optimal portfolios through clearing while benefitting from deep OTC liquidity and bilateral trade relationships. The panel discusses FX futures and their use cases in a traditionally bilateral FX market.

What drives the growing interest for listed alternatives?
Why are FX futures increasingly traded as block trades and EFPs?
How can clients access OTC FX liquidity when trading FX futures?
How are FX futures traded differently to FX forwards and swaps?

Moderator:

Lukas Becker, Markets Desk Editor, FX Markets

Speakers:

Jens Quiram, Global Co-Head FIC Derivatives & Repo Sales, Eurex
David Holcombe, Head of Product: FX Futures & FX Clearing, 360T
Ian Lomas, Head of FX Futures Trading, Société Générale
Shuo Wu, Global Head of Forward eTrading, Deutsche Bank

14:15 - 14:35

Keynote: Asset management as a decisive factor for Europe's future

Manfred Bauer, Head of Product Division, Member of the Executive Board, DWS Group

14:45 - 15:30

Credit Training in 2023

Volatility soared in 22 as Europe is gradually exiting a decade of ultra-low rates environment. Inflationary pressures leading to higher borrowing costs have caused credit spreads to widen in 2022, as fears of recession rise.

What products are available to hedge existing portfolios against duration and credit risk in one go?
How will Credit markets respond to a prolonged recession?
How are futures based on credit indices performing from a trading perspective?
Credit Trading and ESG

Moderator:

Ross Lancaster, Head of Research, Acuiti

Speakers:

Lee Bartholomew, Global Head of Fixed Income Product R&D, Eurex
Juan Reig Mascarell, Global Head of Credit Solutions & Exotics Trading, J.P. Morgan

Energy Transition: The Investor's View

Unfazed by ideological discussions, the energy transition, a global transformation of energy systems away from fossil fuels to renewable and clean energy sources by 2050, is clearly on its way. What does this mega trend mean for markets, investment managers, and investors?

Structural and market-driven opportunities
Role and opportunities for investment managers
Can impact and retail investors help “move the needle” while getting ROI?

Moderator:

Matthias Knab, CEO, Opalesque

Speakers:

Nataliya Shybanova, Head of Investor Solutions, AQUIS Capital AG
Jie Hayes, FRM Managing Principal, Songbird Capital
Matt Fernley, Head of Research & MD of Battery Materials Review, Westbeck Capital

Structured products & Derivatives

Despite an overall difficult market environment in 2022, structured products did offer a better return compared to some other asset classes. But with inflation growing – how will performance be affected in 2023? This panel will discuss the challenges and opportunities that come along structured products with a focus on sustainability.

What are the challenges and opportunities for structured products?
Structured products and ESG – fit for the future?
How do structured products fit into a broadly diversified portfolio?

Moderator:

Serge Nussbaumer. CEO, Payoff

Speakers:

Romain Sellem, Structured Solutions & Systematic Strategies, BofA Securities

15:40 - 16:25

The future of Risk Management

Regulators and industry executives alike are maintaining a watchful eye on clearinghouse risk, especially given the recent extreme market volatility and its impact on the markets.

How did CCP margin methodologies perform during recent market volatility? How did Variation Margin and Initial Margin evolve?
What was market participant level of anticipation and preparedness to strong market moves and margin calls?
Anything that CCPs and market participants have learnt from the notable events in recent past?
Is interconnectedness and interplay between Cleared and Uncleared exposures fully understood?

Moderator:

Teo Floor, CEO, CCP12

Speakers:

Dmitrij Senko, Chief Risk Officer, Eurex
David Horner, Chief Risk Officer, LCH
Lee Betsill, Managing Director and Chief Risk Officer, CME Clearing
Marcelo Carvalho, CCP Chief Risk Officer, B3

16:25

Concluding Remarks

Annette Weisbach, Correspondent Germany, CNBC

Related Focus News & Articles

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A hybrid world of opportunity

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