2012 Program

8:20 Registration and breakfast

8.45 FX Week opening remarks: Joel Clark, Editor, FX WEEK

8:50 Chairperson's welcome address:

Ian Toner, CFA, Director, Research and Communications, RUSSELL INVESTMENTS

9:00 *Keynote address*

Christopher Towe, Deputy Director, Monetary and Capital Markets Department, INTERNATIONAL MONETARY FUND

9:30 Executive address:  G20 decisions and outcomes: Implications for the financial industry and FX market

  • Why does a meeting of 20 men and women matter to the financial industry as a whole
  • Elaboration of some of the topics on the agenda
  • A look at past decisions and their outcomes
  • Crystal ball: What's important to watch for ahead of the G20 Summit and the likely outcomes

Lida Preyma, Director, Capital Markets Research, Global Finance, G20 RESEARCH GROUP

10.00 Panel discussion: Review of the major themes that are currently shaping the FX market

  •  How does a prolonged economic slowdown play out for major currencies? 
  • Is the dollar in structural decline or an indictment of a weak economy?
  • Are central banks engaged in currency war?
  •  Have policy makers done enough to secure the future of the Euro?
  • Can emerging markets remain decoupled from the slowdown in the developed world?
  • Implications of new central counterparty proposals for OTC derivatives on FX: Tools to mitigate counterparty risk

Moderator: William Robson, President, C.D. HOWE INSTITUTE
Collin Crownover, Ph.D, Managing Director, Global Head of Currency Management, STATE STREET GLOBAL ADVISORS
Lida Preyma, Director, Capital Markets Research, Global Finance, G20 RESEARCH GROUP

10:40 Morning break

11:10 Presentation: FX as an asset class: The degree of independence between FX returns and other asset class returns

11:40 Presentation: Commodity currencies: Tomorrow's investment strategies   

  • Intermarket correlations: Do they really work?
  • CAD & AUD : Fundamental linkages with commodities
  • New global commodity dynamics, new currency price drivers?
  • Charting the future price actionofcommodity currencies

12.10 Panel discussion: The growing role of e-commerce and innovation in FX: Benefits for the buy-side

  • Identifying the electronic trading functionalities that really matter to the buy-side
  • The latest pre and post trading tools available: How do they add value to the buy-side?
  • Implications of new regulation on FX trading and technology
  • Impact of the growth of FX high frequency trading: How to strike the balance between manual and automated processes
  • Opportunities for applying electronic trading outside the BRIC currencies

Moderator: David Poole, Chief Operating Officer, & Principal, CLIENTKNOWLEDGE
Vikas Srivastava, Managing Director and Head of Business Development, INTEGRAL DEVELOPMENT CORP.
Michael W. Gurka, Managing Director, SPECTRUM ASSET MANAGEMENT LLC

 12.50 Lunch break

1.50 *Keynote address*: Managing global currency risk

  • The poisoned Chalice: Dollar & Euro losing their store of value quality
  • Hedging in a world with no riskless asset
  • Managing currency risk: Active, passive or insurance?

 Ronald G. Layard-Liesching, Cofounder, PARETO PARTNERS and Chairman, MOUNTAIN PACIFIC GROUP

2.20 Panel discussion: Performance of currency management in the spotlight

  • Who do currency mangers and investors choose one type of currency management approach over another?
  • Systematic vs. discretionary
  •  Technical vs. fundamental
  • G10 vs. EM
  • How has the current macro environment impacted the performance of these different styles?
  •  Reviewing manager fees in light of disappointing performance and lower risks being taken

Moderator: Peter Hanson, Managing Partner, ASTOR CAPITAL MANAGEMENT
Krishna Kumar, Partner, GOOSE HOLLOW CAPITAL
Adrian Lee, President & Chief Investment Officer, ADRIAN LEE & PARTNERS
John MacIsaac, CFA, Investment Analyst, SEI INVESTMENTS
Alessio de Longis, CFA, Vice President, Portfolio Manager, OPPENHEIMERFUNDS

3.00 Presentation: Conscious Currency - Rethinking currency risk and return in asset management

  • The traditional approach to describing and managing currency risk
  • Some anomalies, and the problems they cause
  • A deeper look identifies structural questions with broad implications
  • A proposed new approach and next steps

Ian Toner, CFA, Director, Research and Communications, RUSSELL INVESTMENTS

3.30 Presentation: The role of Latin American currencies in portfolio diversification  

4.00 Afternoon break

4.30 *Strategies Roundtable*: The global outlook for investing in currencies

  •  The outlook for the USD: Likely driving factors
  • What may result from the situation in the Euro Zone, both in Europe and globally?
  • Identifying new movers and shakers in EM currencies
  • The affect commodity price trends may have on the CAD
  • Will the currency battle continue and intensify? What are the stakes?
  • Coping with the new dynamics in volatility

Moderator: Luca Avellini, Partner, Head of Research North America, JW PARTNERS
Jeff Boyko, CFA, P.Eng, President, Chief Currency Strategist, CASTLE CURRENCY MANAGEMENT
Felix Shipkevich, Managing Attorney, SHIPKEVICH LAW FIRM
Paul Chappell, Chief Investment Officer, C-VIEW
Ulf J. Lindahl, Chief Executive Officer & Chief Investment Officer, A.G. BISSET & COMPANY

5.10 Chairperson's closing remarks:

Ian Toner, CFA, Director, Research and Communications, RUSSELL INVESTMENTS

5.15 Drinks Reception

 

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