Derivatives Forum Frankfurt 2021

Panel Discussion: Bringing cleared repo to the buy-side

Evaluating the current state of funding markets: How can the buy side benefit from electronic execution and cleared repo?

• What are the challenges for the European repo markets from both a buy- and sell-side perspective?
• How the demand for collateral transformation and collateral optimization services is evolving and how cleared repo can benefit asset managers.
• Can we learn anything from the U.S. with regards to centrally cleared buy-side repo?

Moderator: Duncan Wood, Global Editorial Director, Risk.net

Panelists:

• Charlie Badran, Head of Repo, AXA Investment Managers
• Richard Déroulède, Global Head of Prime Services, Societe Generale
• Jan Mark van Mill, Head of Treasury & Trading, APG Asset Management
• Matthias Graulich, Member of the Board, Eurex Clearing

Panel Discussion: The Role of CO2 price for a sustainable economy

With the recent change in power at the helm of the U.S. and the re-joining of the Paris Climate agreement in time for the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow on 1 – 12 November 2021, carbon emission trading emerges further into the limelight. In this context and given further regulatory changes, the panel will discuss the role of CO2 pricing for financing a sustainable economy, the role of CO2 pricing for sustainable indices, and the reduction of CO2 emissions.

• What impact could the sudden change in politics in the U.S. have on global carbon pricing and emission reductions?
• How can CO2 pricing be incorporated into sustainable indices?
• What should be the interplay between markets and state support in achieving climate goals?

Moderator: Stella Farrington, Head of Content, Energy Risk, Risk.net

Panelists: 

• Farah Abi Morshed, Innovation Manager, ABN AMRO Clearing Bank
• Rodolphe Bocquet, Global Head of Sustainable Investment, Qontigo
• Tobias Paulun, Chief Strategy Officer,  European Energy Exchange

Panel Discussion: How has the (trading/clearing) infrastructure evolved on the sell side?

The market infrastructure to access vital trading, clearing and collateral management solutions evolves as new technology emerges. In the FX markets, as in many other markets, regulation has led to change in the bilateral market and the usage of clearing solutions. This panel discusses the changes that have marked the banks and how these will be a driving force to remain competitive.

• What are the industry's key changes and what drives banks to review their existing infrastructure and business models?
• What makes the FX market special to other asset classes and what are industry options to identify efficient alternatives?
• What role plays OTC clearing in the FX market and what could the market look like in 3-5 years?

Moderator: Julia Schieffer, Founder & Editor, DerivSource

Panelists:

• Jochen Litzinger, Director, Acting Cluster Lead, Commerzbank
• Richard Thompson, Chief Operating Officer and Co-Founder, Sernova Financial
• Jens Quiram, Global Head FX Derivatives, Eurex

Panel Discussion: Creating alpha in a beta world.

When investment managers say their goal is to “generate alpha,” they basically aim to generate a higher return while assuming a similar amount of risk as compared to the benchmark against which they measure their performance. 

During volatile markets, active managers tend to outperform more often than when it is not. Quality active managers not only beat passive investment during downturns, but their outperformance grows with larger market losses. Despite this outperformance, passive funds have been steadily growing net inflows in recent years, outpacing active managers. 

• How do investment managers create Alpha?
• How to identify and select investment managers capable of delivering Alpha
• Follow the money? Asset flows in active versus passive investment strategies

Moderator: Matthias Knab, CEO, Opalesque

Panelists: 

• Tilo Wendorff, Managing Director Absolute Return, Prime Capital AG
• Marcus Storr, Member of the Board, FERI Trust Luxemburg
• Neil Servis, Chief Executive Officer. Serone Capital Management LLP

Panel Discussion: The evolving role of Collateral Management (transformation)

Efficiency in collateral management has been a central focus for asset managers and their sell-side partners for some time now. However, the COVID-19 crisis exposed collateral movement weaknesses across the market, which has now taken center stage. In addition, asset managers are increasingly applying ESG considerations to collateral management, adding a further consideration to baskets and collateral calculations.

• How do asset managers that have already adjusted their investment policies to be ESG-compliant manage money market activities using GC Bond Baskets?
• Collateral movements around COVID
• Where is there room for optimization and automation in the movement of collateral?

Moderator: Julia Schieffer, Founder & Editor, DerivSource

Panelists: 

• Coen van Walbeek, Global Head Treasury & SBL, ABN AMRO Clearing Bank
• Phil Simons, Global Head of Sales, Fixed Income Derivatives Funding & Financing, Eurex
• Max Verheijen, Director Financial Markets, Cardano

Panel Discussion: The Future of FX - Understanding the impact of new capital and margin requirements

In preparation for the Uncleared Margin Rules and as part of the assessment of capital-efficient alternatives to existing workflows and business models, the FX market shows growing demand for exchange-listed alternatives.

• What are the drivers motivating institutions to trade and clear exchange-traded FX derivatives?
• What impact is regulation having on the market?
• The role of automated and electronic trading in creating liquidity and greater use of clearing?

Moderator: Lukas Becker, Markets Desk Editor, Risk.net/FX Markets

Panelists:

• André Besant, Managing Director, Head of GFX Germany, Deutsche Bank
• Robbert Sijbrandij, Head of Institutional FX Trading, Flow Traders
• Jens Quiram, Global Head FX Derivatives, Eurex
• Christoph Hock, Head of Multi-Asset Trading Desk, Union Investment

Panel Discussion: ESG priorities in securities financing transactions

Can Securities Finance transactions be Social Responsible Investments? This panel will look into what Responsible vs. Sustainable Securities Finance transactions mean and how best practices are being established. How are these best practices evolving across the U.S. and Europe?

• What is best-practice in Securities Finance transactions from a SRI perspective? 
• How to incorporate clients’ ESG priorities and guidelines in financing transactions?
• Can ESG market standards for financing transactions be set?

Moderator: Will Mitting, CEO & Founder, Acuiti

Panelists:

• Christian Schuetze, Head of Cross Asset Financing DACH & Nordics, Societe Generale
• Eicke Reneerkens, Head of Securities Lending, Union Investment
• Michael Gaynor, Senior Credit Research Analyst, BBVA

Panel Discussion: What comes after the CCP discounting switch?

Despite the severe disruptions to businesses across 2020, financial market participants have continued to make meaningful progress towards IBOR transition and the use of RFRs. A crucial part of this reform was the CCP discounting switch, but with this now accomplished firms can start to reflect on what the next practical steps should be.

• How, should firms go about implementing the ISDA fallback or alternatives? 
• What are the implications for portfolio management, and from a market perspective what does this mean for liquidity and trading opportunities?

Moderator: Helen Bartholomew, Editor-at-large, Risk.net

Panelists:

• Ales Lipensky, Head of Derivatives Funding, Deutsche Bank
• Clement Cordier, Head of Derivatives Clearing Services, HSBC Continental Europe
• Thilo Rossberg, Head of FICC Markets, LBBW
• Stephan Blanke, Head of Derivatives, KfW Bankengruppe
• Andreas Franke, Head of Risk Methodology OTC, Eurex Clearing

Market Insights: 1 on 1

The Changing Shape of Derivatives Markets

Disruption is shaping our industry at an unprecedented pace. New market models, the pandemic environment, regulatory requirements and the growing demand for sustainable investments fundamentally reshape the derivatives markets. What trends will remain in 2021? What will be the drivers for growth, and what is needed to emerge successfully out of the current situation?

Moderator: Annette Weisbach, Correspondent Germany, CNBC

Speaker:

• John Keogh, Chairman ExCo, Susquehanna International Group

Market Insights: 1 on 1

Focus: EU Taxonomy

ClimatePartner is specialized in the environmental impacts that are key to the current goals of the EU Taxonomy. This Market Insight shall provide insights into the taxonomy principles, the results of the analysis and prospects for the next steps in EU regulation.

Moderator: Hugh Wheelan, Co-founder and Joint Managing Director, Responsible Investor 

Speaker: Julia V. Bewerunge, Manager Carbon & Finance, ClimatePartner