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2018 Program

February 7-9, 2018 // The Ritz-Carlton, Laguna Niguel // Dana Point, CA

* Program subject to change

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Wednesday, February 7, 2018

12:00 PM—1:30 PM

Women In Derivatives Luncheon (pre-registration required)

Terrace Salon

Washington Update – Impact on Asset Managers and Beyond

Third annual Women in Derivatives lunch at the FIA SIFMA Asset Management Derivatives Forum, February 7, 2018 at 12:00pm at The Ritz-Carlton, Laguna Niguel, CA. Separate registration is required here.

1:00 PM—3:30 PM

SIFMA AMG Steering Committee Meeting (AMG Members Only)

Ritz-Carlton 1-2

2:30 PM

Registration & Exhibits Open

Ritz-Carlton Foyer

Lanyards Sponsored By:

4:00 PM

Opening Remarks

Ritz-Carlton Ballroom 3-6

Speakers:
Tim Cameron, Managing Director, SIFMA
Walt Lukken, President & Chief Executive Officer, FIA

4:15 PM

Refitting Derivatives Market Regulation

Ritz-Carlton Ballroom 3-6

As regulators in the U.S. and Europe seek to streamline, refit and KISS derivatives regulations, what standards are in need of change? What changes will make the biggest impact on improving markets without disrupting the G-20 commitments? What requirements are in need of modernization? What other issues, such as technological innovations, are likely to result in further evolution? Buy-side and sell-side experts will share their views of the developing landscape.

Chair:
Laura Martin, Managing Director & Associate General Counsel, SIFMA AMG

Speakers:
Stephen Berger, Managing Director, Government & Regulatory Policy, Citadel
John Dabbs, Global Head of Prime Derivatives Services, Credit Suisse Securities
Joanne Medero, Managing Director & U.S. Head, Global Public Policy Group, Blackrock
Mariam Rafi, Managing Director, Americas Head of OTC Clearing, Citigroup Global Markets
Ken Raisler, Partner, Sullivan & Cromwell

5:30 PM—6:30 PM

Reception

Dana Lawn

Thursday, February 8, 2018

8:00 AM

Registration & Exhibits Open

Ritz-Carlton Foyer

Lanyards Sponsored By:

8:00 AM

Networking Breakfast

Monarch Bay Courtyard

Sponsored by:

 

9:00 AM

Solving the Cross-Border Regulatory Puzzle: How do firms navigate the differences in various jurisdictions globally?

Ritz-Carlton Ballroom 3-6

The goals of regulators around the globe are the same – protect investors, foster well-functioning markets and reduce systemic risks while minimizing friction on a cross-border basis through global harmonization of derivatives regulations. Despite these efforts, a single transaction may be subject to different requirements in different jurisdictions, including variances for trade execution on electronic platforms, margin and collateral, reporting, documentation, clearing, portfolio reconciliation, and trade aggregation requirements. In addition to Dodd-Frank, MiFID II and EMIR, Brexit is coming. This panel will discuss the cross-border regulatory impacts and how firms manage these cross-border issues. 

Chair:
Deborah North, Partner, Allen & Overy

Speakers:
Stephane Caidi, Director, Legal Affairs, PSP Investments
Gary DeWaal, Special Counsel, Katten
Victor Meyer, Senior Legal Counsel, Invesco
Gregory Todd, Managing Director and Associate General Counsel, Bank of America Merrill Lynch

10:00 AM

Networking Break

Monarch Bay Courtyard

Sponsored by:

10:15 AMConcurrent Session

What is Changing in the FCM/Buy-Side Relationship?

Ritz-Carlton Ballroom 3-6

How has the relationship between FCMs and buy side clients evolved, and where is it headed? How has clearing, execution and brokerage services as well as market connectivity changed? Are FCMs meeting the needs of the asset management community and addressing demands for further operational efficiency? Is the prime services structure the most effective for meeting client needs? Buy-side speakers will set out their changing requirements alongside FCMs representatives.

Chair:
Allison Lurton, Senior Vice President & General Counsel, FIA

Speakers:
Lisa Cavallari, Director, Fixed Income Derivatives and Commodities, Russell Investments
Mark Cox, Managing Director, Global Head Collateral and Clearing, U.S. Investment Operations, BlackRock
Michael Cugini, Director, Client Services and Utility Management, Credit Suisse
Sam Priyadarshi, Head of Portfolio Risk & Derivatives, Fixed Income Group, Vanguard
Cassandra Tok, Managing Director, Goldman Sachs

10:15 AMConcurrent Session

Collateral and Margin Requirements

Ritz-Carlton 1-2

Market participants will discuss how the uncleared margin requirements, and implementation of capital rules have impacted derivatives markets and particularly collateral management. Panelists will touch on issues such as collateral eligibility, share class hedging, and planning for initial margin. The panel will also discuss what’s required for a holistic collateral approach and collateral optimization.

Chair:
Fabien Carruzzo, Partner, Kramer Levin Naftalis & Frankel

Speakers:
John Bellissimo, Director, Wells Fargo Securities
Ila Eckhoff, Managing Director, Blackrock
Katie Oliverio, Vice President, AB
Matthew Scharpf, Vice President, Fixed Income Derivatives and Clearing, Americas, Eurex

11:15 AM

Networking Break

Monarch Bay Courtyard

11:30 AMConcurrent Session

Evolution of Clearing—FX, Repo, Bitcoin, Oh My!

Ritz-Carlton Ballroom 3-6

With the advance of new capital and margin requirements, and other regulatory and market developments impacting clearing decisions, asset managers may be looking to clear additional products that have not been mandated to clear, such as FX, and repo. With increasing market interest in cryptocurrencies, and bitcoin futures now available for clearing, this panel will discuss both the market and regulatory evolution, and how it’s impacting expansion of clearing across different asset classes. 

Chair:
Mariam Rafi, Managing Director, Americas Head of OTC Clearing, Citigroup Global Markets

Speakers:
Pete Borstelmann, Senior Director, Head of Corporate Development, ICE Clear Credit
Michael Davie, Global Head of Rates, LCH
Elisabeth Kirby, Managing Director, Head of Product & Market Strategy, Tradeweb
Suzanne Sprague, Managing Director, Credit Risk, Banking & Solutions, CME Group

11:30 AMConcurrent Session

Derivatives for Funds

Ritz-Carlton 1-2

Derivatives continue to be an important investment and risk management tool for funds (e.g., ’40 Act funds, UCITS, and hedge funds). This panel will discuss the current uses as well as the pain points that prevent funds from efficiently utilizing derivatives. 

Chair:
Ruth Epstein, Partner, Stradley Ronon

Speakers:
Nevis Bregasi, Vice President & Assistant General Counsel, MFS
Maria Chiodi, Managing Director & Counsel, Legal & Compliance, Credit Suisse Securities
Brendan Kalb, General Counsel, AQR
Peter Trojano, Senior Compliance Officer, BNY Mellon Asset Management North America
Wendy Yun, Managing Director & Associate General Counsel, Goldman Sachs Asset Management

12:30 PM

Keynote Lunch: CFTC Commissioner Rostin Behnam

Pacific Promenade

Speakers:
Rostin Behnam, Commissioner, U.S. Commodity Futures Trading Commission
Walt Lukken, President & Chief Executive Officer, FIA

1:45 PM

Interest Rate Benchmarks: What will changes mean for derivatives users?

Ritz-Carlton Ballroom 3-6

With new interest rate benchmarks emerging in response to calls from global regulators to identify alternatives to the long-standing Libor rate, this panel will consider the impact of these changes on existing products and the creation of new contracts based on new rates. The panel will review timelines and the impact on exchanges, clearinghouses and users.

Chair:
Randy Snook, Executive Vice President, SIFMA

Speakers:
Bill DeLeon, Managing Director, Global Head of Portfolio Risk, PIMCO
Agha Mirza, Managing Director, Global Head of Interest Rate Products, CME Group
Subadra Rajappa, Head of US Rates Strategy, Societe Generale
Sachiyo Sakemi, Managing Director, Blackrock
Sayee Srinivasan, Senior Economic Advisor, Commodity Futures Trading Commission

5:00 PM

Polar Plunge

Salt Creek Beach Hut

FIA and SIFMA Asset Management Group encourage attendees of the 2018 Asset Management Derivatives Forum to take a "polar plunge" into the Pacific to raise funds for the American Red Cross' California Wildfire campaign. Support the local communities that were first struck by wildfires and then flooding this winter as they work to recover and rebuild.

Take the plunge by first donating $100 to this cause at: Polar Plunge - AMDF 2018 https://www.justgiving.com/fundraising/amdf2018.

Then join your fellow attendees at 5:00 p.m. on Thursday, February 8 to take the plunge. FIA and SIFMA will match the total funds raised through the Polar Plunge.

6:00 PM—7:00 PM

Reception

Monarch Bay Courtyard and Sunset Terrace 

Sponsored by:

 

Friday, February 9, 2018

8:00 AM

Registration & Exhibits Open

Ritz-Carlton Foyer

8:00 AM

Networking Breakfast

Monarch Bay Courtyard

8:45 AM

Keynote Address: Bank of England

Ritz-Carlton Ballroom 3-6

Sir Jon Cunliffe became Deputy Governor for Financial Stability on 1 November 2013. He is a member of the Bank’s Financial Policy and Monetary Policy Committees, the Bank’s Court of Directors and the Prudential Regulatory Committee.

He has specific responsibility within the Bank for financial stability, for the supervision and oversight of Financial Market Infrastructures, Resolution policy and implementation, and shared responsibility for the Bank’s International macroeconomic analysis, strategy and engagement. He is a member of the G20 Financial Stability Board Steering Committee, the Bank for International Settlements’ Board of Directors and the European Systemic Risk Board.

Speaker:
Sir Jon Cunliffe, Deputy Governor, Financial Stability, Bank of England

9:30 AM

Market Stability and Resolution Tools: Where are we now and where are we headed?

Ritz-Carlton Ballroom 3-6

This panel will discuss the current status of tools available to CCPs and regulators during times of financial stress, including extraordinary CCP recovery and resolution tools, termination stays applicable to uncleared transactions and broad moratorium powers under consideration in Europe. How have regulators struck the balance between customer protections and market stability, and is more work required to improve? 

Chair:
John Williams, Partner, Milbank Tweed Hadley & McCloy

Speakers:
William Thum, Principal, Vanguard
Jeffrey Himstreet, Vice President, Derivatives Practice Group Leader, PGIM Fixed Income
Jonathan Jachym, Head of North America Regulatory Strategy and Government Relations, London Stock Exchange Group

10:30 AM

Networking Break

Monarch Bay Courtyard

Sponsored by:

 

10:45 AM

Roundtable: ETD and Cleared Products

Ritz-Carlton 1-2

This roundtable will discuss the recommended best practices developed by the FIA, ISITC and SIFMA AMG joint industry working group on standard protocols for ETD and OTC cleared product workflows and standardized data fields to help streamline processing and enabling electronic messaging by FCMs, asset managers, custodians, other asset servicers, utilities and vendors.  

Chair:
Greg Wood, Senior Vice President, Global Industry Operations & Technology, FIA

Speakers:
Erik Barry, Director, Credit Suisse
Amy Caruso, Director, Strategy & North America Business Development, DTCC-Euroclear GlobalCollateral
Ky Dong, Senior Complex Securities Specialist, Franklin Templeton Investments
John Montgomery, Senior Specialist, Global Collateral, Vanguard
Lou Rosato, Director, Blackrock

11:45 AM

Lunch Break

Monarch Bay Courtyard

12:00 PM

Roundtable: RegTech – Solutions for Reporting and Operations

Ritz-Carlton 1-2

The growing requirement for reporting derivatives transactions and positions in a range of regulations, including MiFID II in Europe, and for meeting new collateral and margin regulatory demands, has placed new demands on FCMs and their clients. This roundtable will debate some of the technology solutions emerging to address these requirements and bring new efficiencies in the face of massive data challenges.

Chair:
Nick Solinger, President, FIA Tech

Speakers:
Lis Hadingham, Managing Director, Americas, CloudMargin
Gregg Rapaport, Managing Director, DTCC
Travis Schwab, Chief Executive Officer, Eventus Systems
Darren Thomas, Managing Director, IHS Markit

1:00 PM

Conference Concludes