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7:55 AM
Beneficial Owner Breakfast Workshop Registration
Practical Beneficial Owner Breakfast Workshops

These two practical-based roundtable workshops – facilitated by industry experts - will offer Beneficial Owners the benefit of engaging in a dialogue and hence get a deeper understanding of the respective topics and how they specifically relate to their needs. Beneficial Owners will have the opportunity to attend two rotations of the 30 minute workshops.

Please Note: The 8:25am-9:25am workshops are only open to qualified Beneficial Owners. Pre-registration is required. To register or to submit questions in advance, please email dettinger@imn.org

8:25 AM Workshop A
A Changing Paradigm: A Strategic Review of the Lending Options for Beneficial Owners
  • Handling the tactical challenges that exist in securities lending programs today
  • The longer term strategic direction of the business and positioning your program for success
  • Key drivers of market and regulatory developments and their influence on the securities financing industry

 

 

John Wallis

Senior VP, Co-Head of Securities Lending for Europe
Brown Brothers Harriman

Robert Lees

Senior Vice President, Co-Head of Securities Lending for Europe
Brown Brothers Harriman
8:25 AM Workshop B
Securities Finance and Collateral Management – Integrating the Centrally Cleared Model for Beneficial Owners

The impact of regulation, utilization of the increasing cost of capital combined with the drive for operational efficiency all point to the direction of Central Clearing. How can the Securities Finance and Collateral Management marketplace embrace change and innovation and further enable CCPs to become a fundamental part of their day-to-day business? In this session, the role of the different securities lending stakeholders in a trade via the CCP will be explained including the overall function that a CCP model fulfils. Beneficial Owner participants undertake a detailed review of the trading, collateral and risk management aspects of the CCP model, study the operational capabilities and understand what the market can expect to see in the future for this key strategic development.

 

 

 

 

Jonathan Lombardo

Global Funding & Financing Sales
Deutsche Boerse Group

Gerard Denham

Global Funding & Finance
Deutsche Boerse

Roelof Van Der Struik

Investment Manager, Treasury
PGGM Investments
8:45 AM
General Conference Registration and Networking Delegate Breakfast
9:30 AM
Pre-Conference Introductory Workshop: The Blockchain (Open to All Attendees)

The Blockchain has the potential to disrupt the securities lending business. This workshop provides a fundamental understanding of this new technology, its potential impact and the current status of adoption.

  • What is the Blockchain and what is its significance?
  • How does it work? What are its benefits and limitations?
  • What are its various (current and potential) applications and how is it being used in the financial sector today? Who are the first adopters?
  • How is the Blockchain being viewed by regulators?
  • Where does adoption of the Blockchain currently stand? What are the challenges to overcome and the next steps? What are realistic implementation timeframes? When and how will it impact the day to day workings of the securities lending sector?

Monica Summerville

Senior Analyst
TABB Group

Murad Baig

FSI Lead, FinTech & Disruptive Technology
Deloitte MCS Limited

Joe Cassidy

Partner, FD Advisory
KPMG

Guillaume Kendall

Head of Business Development
Kynetix

Paul Vine

Partner
Norton Rose Fulbright
10:15 AM
Pre-Conference Workshop Concludes
10:20 AM
Opening Remarks from Information Management Network (IMN)
10:25 AM
Opening Address: Securities Lending & Collateral Management – Adapting to a New World Order

As the securities lending industry continues to undergo a seismic shift, the underlying theme of this year’s event is to examine the various disruptors and influencers – from Brexit and the macro-economy; to regulation and new technology – and in turn examine how these are impacting market supply and demand and the subsequent shift in business models for the industry’s different stakeholders. This opening presentation highlights how key developments over the past year have further impacted the practices of securities lending and collateral management. In doing so it sets a framework for the discussions for the remainder of the conference.

Andrew Dyson

CEO
International Securities Lending Association (ISLA)
10:40 AM
Keynote Presentation: Brexit & the 2017 Macroeconomic Outlook

In September official data from July will be released which will be the first indicator of the impact of Brexit, in the short term at least, and a view into the macroeconomic outlook for 2017.

Roger Bootle

Managing Director
Capital Economics Ltd
11:05 AM
Mid-morning Welcoming Networking Refreshment Break Courtesy Of:

11:30 AM
Approaches to and the Economics of Collateral Optimisation & Management: Case Study Examples

There is no ‘one-size-fits-all’ when it comes to collateral management or optimisation. Yet their significance is only going to increase in the new evolving securities finance environment. In this session we look at how different firms are now approaching collateral management and collateral optimisation, in particular sourcing, pricing, tracking and allocating collateral with consideration and coordination across business lines. We examine the economics of such approaches and the lessons being learned. We also address the issue of collateral shortfall, the degree to which this is still a concern and whether beneficial owners are restricting assets as collateral buffer.

Bill Foley

Director
Foley-O'Neill Limited

Richard Glen

Head of Global Securities Financing Sales
Deutsche Boerse Group

Marije Verhelst

Director, Product Management
Euroclear SA/NV

Olav Blasberg

Head of CIB Business Communications
UniCredit


SESSION POLL Results

12:15 PM
CCPs? Direct Market Access? Peer-to-Peer Lending? Synthetics? Other? Alternative Vs. Traditional Routes to Market for Lending Programmes of Today & the Future

Against the backdrop of regulatory change, liquidity issues and financial and technical innovation, this panel debates the best approach(es) to lending today. In doing so panelists also discuss how to make routes to market more efficient and give perspectives on what will be the lending model(s) of the future. Points addressed include:

  • How do traditional and the various alternative routes to market compare in terms of risk, transparency, costs, benchmarking, efficiencies and overall trade-offs?
  • How can Beneficial Owners assess which route(s) make sense for their lending programmes?
  • In what ways, and to what degree, do the different alternative routes impact the securities finance industry?
  • Which routes to market will remain small initiatives vs. the way of the future for lending programmes?

Sarah Nicholson

Senior Consultant
Consolo Ltd

Mick Chadwick

Head of Securities Finance
Aviva Investors

Stephen Kiely

Head of Sales, EMEA, and Relationship Management
BNY Mellon

Jonathan Lombardo

Global Funding & Financing Sales
Deutsche Boerse Group

Susan O'Flynn

Managing Director
Morgan Stanley


SESSION POLL Results

1:00 PM
Luncheon
2:00 PM
The Regulatory Impact of Brexit on The Securities Finance Industry & An Update on Key Regulation Impacting Securities Lending in 2017 & Beyond

Over the past five years, the EU financial sector has undergone a fundamental regulatory transformation. Now, with Brexit, further transformation is to be expected and uncertainty hangs over the industry in the meantime. In this panel we address the regulatory impact of Brexit on the securities finance industry and offer perspectives on what new/amended regulation can be expected from the UK and when. We also address key global regulation and legislation currently impacting securities lending including timelines and, where relevant, the likelihood of the regulation being enacted. Among the points to be addressed are:

  • Securities Financing Transactions Regulation (SFTR)
  • ESMA (CSDR/TS2)
  • UCITS V/Money Market Fund reform
  • The Resolution Stay Protocol
  • Financial Transaction Tax (FTT)

Rosali Pretorius

Partner, Head of Financial Services and Funds Group
Dentons UKMEA LLP

Habib Motani

Partner
Clifford Chance LLP

Angus Canvin

Senior Adviser, Regulatory Affairs
The Investment Association

Anna Lawry

Counsel
Ropes & Gray
2:45 PM
Demand-Side Perspective
  • How are you shifting your business model in response to regulation, Brexit and other market developments? What have been notable developments/changes to your strategy in the last 12 months? How are you anticipating changing your strategy in the next 12 months?
  • How are hedge funds responding to the evolving marketplace? What new opportunities are they taking advantage of? Where are current levels of demand for securities? Notable trends?
  • In light of the above, what is the impact on securities lending and the beneficial owner community? What can beneficial owners do to enhance the revenue for both the buy and sell side?
  • What else is on the horizon that has the potential to impact hedge funds and prime brokers? What can we expect to see from the demand side in 2017?

Sebastien Bietho

Chief Executive Officer
Alcognis

Michael Manna

Head of Fixed Income Financing Trading
Barclays Capital

Frederick Nadd-Aubert

Managing Director, Prime Services
Credit Suisse

Jerry Lees

Chairman
Linear Investments Limited
3:30 PM
Afternoon Refreshments & Networking Break Courtesy Of:

4:00 PM
Beneficial Owner Perspective: Adapting to an Evolving Environment – Leave, Keep the Status Quo or Up the Ante?
  • How are you protecting your securities lending earning level in a changing industry?
  • How have you changed your lending strategies in response to regulation? Are you anticipating making changes due to Brexit and if so, what? How are you meeting evolving demands from the industry, e.g. term trades? Collateral flexibility?
  • What has been the impact of Money Market Reform on your cash collateral reinvestment strategies?
  • How much are beneficial owners relying on agent lenders to educate them on the impact of regulation? From your perspective, what are best practices for agent lenders in communicating with beneficial owners?
  • Do you see an increase in costs due to regulation (reporting, transparency, etc…)? How to determine when to keep a lending programme alive?
  • How does securities lending fit into responsible investing?
  • What are your key concerns/areas of focus in the current market? What is your perspective on the future of securities lending and collateral management? Where do you expect your programme to be in 2017?

M. Nicolas Firzli

Managing Director
World Pensions Council

Foppe Zwikstra

Securities Lending Manager
Achmea Investment Management

Joseph Molloy

Head of Passive Equities, Quantitative Equity Strategies
HSBC Global Asset Management

Xavier Bouthors

Senior Liquidity Manager
NN Investment Partners

Roelof Van Der Struik

Investment Manager, Treasury
PGGM Investments
4:45 PM
‘One-Size-Does-Not-Fit-All’: Key Factors for Programme Structuring in Today’s Climate

Drawing upon insights given over the course of today we now address best practices approaches to structuring a lending programme in today’s fast-evolving environment. We assess how beneficial owner decisions directly impact earnings and the risk profile of a program and explore how, through better structuring, program performance can be maximized. In highlighting the various decision points, and processes and criteria for service provider selection, we address the options and considerations for the different types of Beneficial Owner and for different-sized lending programmes. We pay particular consideration to Beneficial Owners with programmes too small to be serviced by Agent Lenders.

Jacqui Waller

Vice President, Global Securities Lending
Brown Brothers Harriman

Simon Lee

Managing Director
eSecLending

Dan Rudd

Head of Agent Lending Portfolio Advisory-EMEA
J.P. Morgan

Jessica Hynes

Sr Associate
Mercer

Justin Miller

Relationship Manager, Capital Markets
Northern Trust

Simon Heath

EMEA Head of Agency Lending Trading, MD
State Street


SESSION POLL Results

5:30 PM
Networking Reception
6:30 PM
Close of Conference Day One
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