Day 1 Asia Day
8:00 Registration opens
9:30 Welcome address
Charles Li, Chief Executive, HKEX
9:50 Keynote address: Status of futures market in mainland China
Wang Ying, Division Director, Supervision Division III, Department of Futures Supervision, China Securities Regulatory Commission (CSRC)
10:20 State of the market: the exchange view
The 2016 conference will focus on a range of challenges and opportunities from regulatory fragmentation to disruptive technology. This panel will bring together some of the key exchange executives in the region to open the conference and provide their views on how they see the market and what they will be launching to meet the demand.
- What are the biggest challenges in the region in 2016?
- How do exchanges see their participants handling regulatory reform?
- What are the key opportunities for exchanges today?
William Mitting, Publisher, FOW
Kevin Rideout, Managing Director, Market Development, HKEX
Janice Kan, Senior Vice President, Derivatives, SGX
Jennifer Ilkiw, Vice President, Asia Pacific, Intercontinental Exchange
Matthias Rietig, Senior Officer, Osaka Exchange / Japan Exchange Group
11:00 Coffee break
11:30 The liquidity conundrum: squeezed markets
Regulatory reform is being implemented across the world with little consideration for the impact on liquidity. The implications of this cannot be underestimated and may take years to be fully realised. Fragmentation of regulation to the pullback of large financial institutions in the wake of additional capital requirements are all leading to a liquidity crisis that represents the single greatest threat to the global market today.
- How is the differing pace of regulatory reform in regional markets fragmenting liquidity?
- How is the leverage ratio impacting the ability of banks to assist in liquidity provision?
- What concerns does the market have over the reforms?
Luke Jeffs, Editor, FOW
David Strachan, Head of Global Clearing and Execution, Asia Pacific, UBS
Brett Fairclough, Managing Director-APAC, Virtu Financial
Naveen Khanna, Chief Operating Officer, Rates & Currencies Trading, Global Markets, Bank of America Merrill Lynch
Steve Woodyatt, CEO and Executive Chairman, Object Trading
12:10 Innovations in equity derivatives: new products for changing markets
2016 looks set to be another exceptionally volatile year as geo-political issues and continued uncertainty about global growth continue to plague equity markets. At the same time, exchanges are launching new equity derivative and ETF products to meet market demand. This panel will look at the latest thinking in equity trading.
- What products benefited from the volatility in 2015?
- Cross market trading: what new products such as spread instruments are coming to market?
- What does the growth of ETFs mean for the futures market?
Chris Lee, Senior Vice President, Market Development, HKEX
Abdelhamid Bizid, Head of Product, iShares Asia Pacific, BlackRock
Govert Heijboer, Co-CIO, True Partner Capital
Shane Carroll, Equity Derivatives Strategist, SG Securities (HK) Ltd
John Angelos, Director, Global Client Services and Head of Asia Pacific Business Development, CBOE
Charles Firth, Head of Equity Derivatives Structuring, APAC, Credit Suisse
13:50 Can Asia become a commodity trading powerhouse?
Commodity derivatives trading in Asia has long been the big opportunity that has been slow to be achieved. But now, with a greater focus from exchanges and regulatory winds pushing firms towards Asia, this could be the moment that its potential is realised. This panel will look at the factors helping commodity trading in Asia and ask what more could be done to boost participation.
- What has held back commodity trading in Asia historically?
- What new launches and exchange initiatives are driving volumes?
- What lessons can be learned from the challenges faced by recent contract launches?
- What is the outlook for the growth of commodity trading in Asia?
Luke Jeffs, Editor, FOW
William Fyfe, Head of Buy Side S.E.Asia, LME
John Browning, Managing Director, Bands Financial Limited
Huang Xiaoyu, Assistant Director, Agricultural Development, Dalian Commodity Exchange
David W Pike, Managing Director, INTL FCStone Pte Ltd
14:30 Gold Focus
Asia is the largest region in the world for the consumption of gold and several exchanges have launched gold futures to tap into this demand. But with a glut of contracts, liquidity remains fragmented. This panel will look at the appetite for new products, the outlook for gold in 2016 and how cooperation between China and international markets will change the landscape.
- How will US Federal Reserves interest rate hike affect gold price and trading?
- The development of gold derivatives: the liquidity outlook in Asia
- How will the internationalisation of Chinas gold market evolve?
William Purpura, Chairman, Northport Commodities Pte Ltd
Leo Wang, Head of Bullion Business, Global Markets, Bank of China (Hong Kong) Limited
Sunil Kashyap, Managing Director, Head of Asia - ScotiaMocatta, Scotiabank
Thomas McMahon, CEO, DGN
15:00 Global ambition for Asia
Asia has long been home to a number of key emerging markets in the global derivatives market. Regional exchanges have been known primarily for a few flag ship contracts in single asset classes, and most have been successful in attracting local and international players to trade them. Now its clear that certain players in Asia are setting their sights on international growth. This panel will look at the opportunities and challenges for these companies and will discuss how they can compete on a global scale.
-What are the challenges for Asia-based firms seeking to internationalise?
-What mechanisms are being used for international expansion and what can hinder progress?
-What are the opportunities for international firms in the growing Asia market?
Sharon Shi, Managing Director, G.H.Financials (Hong Kong) Limited
Carolyn Chou, President, Yuanta Futures
W.Martin Aiken, Senior Advisor, Efficient Capital Management, LLC
Teyu Che Chern, CEO, Phillip Futures
Anthony Sneed, Quantitative Fund Manager, Pegasus Investment Management
15:40 Coffee break
16:00 Managing margin in the new world
Historically margining has been a relatively simple process. But with more illiquid and complex instruments now subject to clearing and margining, there will be challenges ahead. This panel will look at how margining requirements are changing, what tools CCPs are launching to deal with the new requirements and highlight areas of concern about the new regime.
- What impact is the move to clear OTC products having on margin requirements?
- What is helping and what is hindering the evolution of cross border and cross product margining?
- How is portfolio margining working in reality at international CCPs?
Michelle Price, Regulation Correspondent, Thomson Reuters
Andras Torok, Director, Technical Sales & Solutions, ECLiPSe, Standard Chartered Bank
Mark Naisbitt, OTC Product Development Lead (APAC), HSBC
Conor Cunningham, Founder and CEO, ACUO Financial Solutions
Wallace Chan, Managing Director, Head of FIC and OTC Clearing Risk Management, HKEX
16:40 Blockchain: game changer or over-hyped fad?
2015 has been the year of the Blockchain with hype over the new technology reaching fever pitch. Is Blockchain a game changer that will revolutionise markets or a fad that will not live up to expectations? Find out in this debate.
Douglas Ashburn, COO and Editor-at-large, John J.Lothian & Co
Alex Medana, CEO, WIP Solutions Ltd
Leonhard Weese, President, Bitcoin Association of Hong Kong
Lukas Petrikas, Senior Vice President, Group Strategy, HKEX
17:10 Big data, the cloud and the barriers to implementing disruptive technology
New technologies are coming to market that are revolutionising how global derivatives trading operates. From cloud delivery to big data there is abundant opportunity for forward thinking firms to simplify processes, lower costs and create new efficiencies. But barriers to entry remain and the potential of new technology is being held back by inefficient adoption practices.
- What new technologies have the potential to change market infrastructure?
- What applications do these technologies have?
- Will we see any big disturbances to market structure as a result of these technologies any day soon?
Katie Kolchin, Global Exchanges and Capital Markets Analyst, Rosenblatt Securities
Pravin Chandrasekaran, CEO, OpalCrest
Arthur Tricoire, Director, Head of Business Development APAC, Real-Time Solutions, S&P Global Market Intelligence
Russell Toop, Managing Director of Singapore/Hong Kong, Trading Technologies
Zuo Tao, Managing Director, Mainland Technology Centre, Platform Development, HKEX
17:50 Drinks reception
Day 2 China day
9:00 Opening Address: Development of Chinese OTC derivatives market and central counterparty clearing
Zhou Rongfang, General Manager, Shanghai Clearing House
9:20 Keynote Address
Prof. Ba Shusong, Chief China Economist, HKEX
9:50 Opening up: the liberalization of Chinese capital markets
The stock market volatility in China in 2015 sent shockwaves across the world. The short term impact is well known but the medium to long term impact is still uncertain. This panel will ask how the events of summer 2015 will impact the Chinese market, its internationalisation and the pace of innovation in the market.
- What lessons were learned from the volatility in the stock market?
- How will the experience impact the liberalisation of Chinese capital markets?
- What are the implications for the countrys derivatives markets?
Leo Shen, Deputy CEO, Rongtong Global Investments
Chern Lu, CRO, Ping An Pioneer Capital Ltd
Yanan Wu, Chairman, Zhen Rong Bao
Terry Shen, Co-Founder, Leiton Capital
TF Cheng, Managing Director, Head of Greater China Business, BNP Paribas Investment Partners Asia Limited
10:30 Chinese FCMs: going international
Regional Asian brokers going international has been a trend for some years now but the latest pioneers are coming out of China. From building out businesses from Hong Kong to opening up international offices and taking international exchange memberships, a host of Chinese FCMs have their sights on global growth.
- What opportunity is there for Chinese FCMs in the international markets?
- What are the goals and strategies of Chinese FCMs launching internationally?
- What are the barriers to international growth?
Ma Wensheng, Chairman, Xinhu Futures Co Ltd, and Vice President, China Futures Association
Zhao Guiping, Chairman, GF Futures Co Ltd, and Chairman of the Board, GF Financial Markets (UK) Ltd
Shi Jianjun, General Manager, Yongan Futures Co Ltd, and Vice President, China Futures Association
Chen Fang, Chairman of the Board, Luzheng Futures Co Ltd, and Vice President, China Futures Association
Xia Runzhe (Charles),General Manager, HGNH International Asset Management Co Limited
Eric Ren, Executive Director, Innovation Business Division, Haitong Futures Co Ltd
11:10 Coffee break
11:40 RMB Internationalisation: new products
With Chinas One Belt One Road strategy and RMBs inclusion as one of the IMF SDR reserve currencies, the internationalisation of Chinas currency is gaining global attention. Several RMB contracts and platforms are in the pipeline. This panel will monitor the latest development of RMB Internationalisation and examine the effect on China and the global market.
- Update on the development of CNH derivative markets
- What opportunities does the internationalisation of RMB pose for investors?
- How will the IMF decision impact the advance of RMB as a global currency?
Bernard Lock, Managing Director, Global Macro Concepts
Julien Martin, Head of Fixed Income and Currencies Product Development, HKEX
Zhaoping Zhou, Head of RMB Solutions, RMB Competence Centre, BNP Paribas
Patrick Wu, Deputy Head of Markets, China, and Head of RMB Trading, ANZ
12:20 Connect: next steps for expansion
With Connect now live for over a year, expansion is on the cards. A number of possible links, from commodities to derivatives are being touted as the next logical steps for HKEx and other global exchanges are seeking to replicate the model. This panel will bring together the exchange and the market and ask what has been learned since launch and what is next for this innovative initiative.
- What lessons have been learned from the launch of Connect?
- What other instruments could be launched on the link?
- Which other markets could connect via such a link?
Nick Ronalds, Managing Director, Head of Equities, Asia Securities Industry & Financial Markets Association (ASIFMA)
Vincent Chen, Director/Head of ETF Business, China Asset Management (Hong Kong) Limited
Jean-Paul Linschoten, Managing Director, Prime Finance, HSBC
Christopher Hui, Managing Director and Head of Project Management, Market Development, HKEX
Cindy Liu, Senior Manager, Ping An Securities Company Ltd
14:00 Chinese indexes: arbitrage and opportunity
Panel sponsored by FTSE Russell
As international index providers look to begin including China in their global benchmarks, exchanges across the world are launching products to meet the demand to gain exposure to Chinas markets. This panel will look at the recent development of indexes in China and the opportunities for global investors.
- How can international firms gain exposure to China?
- What will be the implications of including China in international index benchmarks?
- What opportunities are there for traders?
John Liu, CEO and President, Han Capital Management
Sudir Raju, Managing Director, Exchange Traded Products, FTSE Russell
Sunny Fang, Director of R&D and Institutional Business Dept., Orient Futures Company Limited
Daniel Yeo, Senior Director, UOB Bullion and Futures Limited
Reuben L. Sushman, Managing Director, 375 Park Associates
14:40 Regional crude oil development
The Shanghai International Energy Exchange launch in China looks set to be one of the most important developments in the global capital market for years. The exchange will cross a number of key themes from internationalisation of Chinas markets to the development of regional benchmarks. At the same time, crude oil trading on established markets is attracting interest across China.
- Update on the launch of the exchange
- How will the exchange be structured for international firms?
- How are firms in China already engaging with energy contracts?
William Mitting, Publisher, FOW
Serena Chen, General Manager, International Department, Haitong Futures Co Ltd
Lewis Richardson, Business Development Manager-Derivatives, Fidessa
Sebastian Lewis, Editorial Director, China, Platts
Christine Chai, Director, BOCI Commodities and Futures Limited
15:20 Options: future direction
Recently, the trading volume of SSE50 ETF options has been growing and commodity contracts still looking set for an imminent launch. Additionally, the demand for OTC options is enormous in China and progress has been made. This panel will look at recent updates in the options market and examine the future direction.
- Review of SSE50 ETF options
- Preparation of commodity options
- Development of OTC options
- Opportunities for other innovation
Natasha Xie, Partner, JunHe LLP
Ari Pine, President, Tradeco Global
Hank Chang, Director, Options Department, Yongan Futures Co Ltd
Lin Xibin, Manager, Derivative Brokerage Department, GF Securities
Haidong Wang, General Manager, CITIC Securities Capital Management (Shenzhen) Co Ltd
16:00 Close of conference
FOWs Derivative World Asia Conference now in its 23rd year
(12-13 April 2016, Renaissance Harbour View Hotel, Hong Kong)
第一天 : 亚洲日
9:50 主题演讲： 中国内地期货市场的基本情况
- 洲际交易所亚太区副总裁Jennifer Ilkiw
- 日本交易所集团/大阪交易所高级主管Matthias Rietig
FOW 期货期权世界编辑 Luke Jeffs
-KCG亚太区首席执行官 Farid Moslehi
-Object Trading 首席执行官, 执行主席 Steve Woodyatt
12:10 权益类衍生品的创新： 变化市场中的新产品？
-BlackRock贝莱德iShares 亚太区产品主管 Abdelhamid Bizid
-True Partner Capital 联席首席投资官Govert Heijboer
-法国兴业证券（香港）有限公司权益类衍生品策略师 Shane Carroll
FOW 期货期权世界编辑 Luke Jeffs
-磐石金融董事总经理 John Browning
-寰宇·福四通董事总经理 David W Pike
北港商品私人有限公司主席 William Purpura
-Scotiabank 董事总经理 Sunil Kashyap
-DGN 首席执行官 Thomas McMahon
汤森路透 路透新闻Michelle Price
-ACUO Financial Solutions 创始人，总裁Conor Cunningham
16:40 区块链(Blockchain) - 将改变市场的游戏规则，还是过度吹捧的一时之风?
2015年是区块链之年，这一新技术被过度吹捧，红极一时。 区块链将是变革市场的游戏规则改变者，还是无法达到业者预期的一时之风？ 从该论坛中了解。
John J.Lothian & Co 首席运营官和特约编辑Douglas Ashburn
-WIP Solutions 有限公司首席执行官Alex Medana
Rosenblatt证券 环球交易所和资本市场分析师Katie Kolchin
-OpalCrest 首席执行官Pravin Chandrasekaran
-标准普尔全球市场情报 实时解决方案 亚太区业务发展总监Arthur Tricoire
-Trading Technologies 董事总经理，新加坡/香港 Russell Toop
-香港交易所 平台发展科中国大陆技术中心 董事总经理左涛
11:40 人民币国际化： 新产品
- 香港上海汇丰银行有限公司 董事总经理Jean-Paul Linschoten
该论坛由FTSE Russell 富时罗素赞助
-FTSE Russell富时罗素 董事总经理-交易所交易产品 华数
-375 Park Associates 董事总经理 Reuben L Sushman
-Fidessa 衍生品业务发展经理Lewis Richardson
- 上证50 ETF 期权的运行回顾
-Tradeco Global 总裁 Ari Pine