Technology & Standards: Unlocking Value in Derivatives Markets

Nov 30, 2017
London

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Nov 30, 2017

Technology has the potential to revolutionise how derivatives are traded and managed, by offering firms the prospect of automating costly manual processes and creating efficiencies. Distributed ledger, smart contracts, cloud computing and artificial intelligence – barely a day goes by without a new proof of concept or a new media story on the potential of these technologies. However, what is needed for this opportunity to come to fruition? Is it possible to implement fully interoperable technologies when common processing and data standards have not yet been agreed? What does the industry have to do to take advantage of this opportunity to unlock value in the derivatives market?

This conference will draw together the perspectives from different sectors, providing an insight from global regulators, derivatives users and technology professionals. The panels will explore work being led by ISDA to develop standards that will facilitate the deployment of these technologies. Technology thought-leaders will share some of their experiences and expectations, and regulators will outline their priorities and goals. The conference will also focus on the potential for smart contracts and the legal challenges they create.

8:15 AM Registration and Continental Breakfast Sponsored by: DTCC

9:00 AM Welcoming Remarks Scott O’Malia

Scott O’Malia, Chief Executive Officer, ISDA

9:15 AM Introduction Duncan Rodgers

Duncan Rodgers, ISDA Board Member, Managing Director, Global Head of ALEM, UK Head of GALM, UBS AG

9:25 AM Keynote Address Brian Quintenz

Brian Quintenz, Commissioner, Chair of the Technology Advisory Committee, CFTC

9:45 AM ISDA’s Common Domain Model – Developing the Operating Standard for the Derivatives Industry Clive Ansell, Cameron Goh, Ayaz Haji, Harry McAllister, Stuart McClymont, Ian Sloyan

The current derivatives processing environment is complex and inefficient. Emerging technologies provide an opportunity to reshape the landscape and deliver value for market participants. However, the industry needs a market wide common standard to describe data and processes to enable these technologies to maximise the opportunity. Enter ISDA CDM.

This panel will invite a number of industry professionals to share their thoughts on the current challenges facing the derivatives market, describe the work that ISDA is doing to develop the standard (the ‘ISDA CDM’), why now is the right time and the potential benefits and opportunity.

Clive Ansell, Head of Market Infrastructure and Technology, ISDA
Cameron Goh, Global Head of Product, Rates & FX, LCH
Ayaz Haji, Head of MiFID II Technical Architecture and Data Strategy, Goldman Sachs
Harry McAllister, Information Architect, BNP Paribas Corporate & Institutional Banking (CIB)
Stuart McClymont, Managing Partner, base60 Consulting
Ian Sloyan, Director, Data and Reporting, ISDA

10:45 AM Networking Break Sponsored by: DTCC

11:15 AM Regulatory Perspective on FinTech / RegTech – Defining the Role of Regulators Scott O’Malia, Bob Ferguson, Klaus M. Löber, Jumpei Miwa, Stephen Murchison, Satya Pemmaraju, Terry Roche

A panel of regulatory experts will discuss the interaction between new technologies and regulation, and share the priorities and goals of their respective agencies.  The panel will look at how regulators in Europe and the US are engaging with the industry to explore how new technologies like blockchain can transform derivatives markets, as well as how these technologies can enhance regulatory compliance.

Scott O’Malia, Chief Executive Officer, ISDA
Bob Ferguson, Head of Department for Project Innovate, FCA
Klaus M. Löber, Senior Advisor, Market Infrastructure and Payments, European Central Bank
Jumpei Miwa, Director for Fintech, Credit System Office, JFSA
Stephen Murchison, Advisor to the Senior Deputy Governor, Bank of Canada
Satya Pemmaraju, Founder, Chief Executive Officer, Droit Financial Technologies PLC
Terry Roche, Principal, Head of FinTech Research, TABB Group

12:30 PM Luncheon

1:30 PM Keynote Address Mark Whitcroft

Mark Whitcroft, Founding Partner, Illuminate Financial

1:50 PM The State of the Technology – Industry Experts Debate Potential for Industry Transformation Dr. Lee Braine, James Carlyle, Joe Cassidy, Robin Moody, Mas Nakachi, Stephen O’Connor, Jennifer C. Peve, Sesh Sundaram

What are the emerging technologies that are likely to shape the future of derivatives markets? A panel of respected experts will give their views on the current trends and discuss the opportunities for technology to transform the derivatives landscape. The panellists will reflect on how technology is facilitating significant innovation in financial services and share their experiences and expectations for deployment of technology in derivatives. Some real life examples of these technologies at work.

Dr. Lee Braine, Investment Bank CTO Office, Barclays
James Carlyle, Chief Engineer, R3
Joe Cassidy, Partner, FS Advisory, KPMG
Robin Moody, Global Head of SmartDX, SmartDX
Mas Nakachi, VP Strategy & Business Development, Axoni
Stephen O’Connor, Chairman, Quantile Technologies
Jennifer C. Peve, Executive Director Business Development, Co-head Office of Fintech Strategy, DTCC
Sesh Sundaram, Managing Director, CME Group

3:00 PM Networking Break Sponsored by: DTCC

3:30 PM Smart Contracts: Contract or Code - What will the Market Prefer? Dr. Peter Werner, Dr. Christopher D. Clack, Scott Farrell, Paul Lewis

Following on from ISDA’s recent whitepaper, a panel of senior experts will discuss smart contracts as an innovation from a legal perspective.

  • What are smart contracts (contract or code)?
  • How will they influence the drafting of legal documents?
  • What are the legal issues caused by smart contracts?
Dr. Peter Werner, Senior Counsel, ISDA
Dr. Christopher D. Clack, Senior Lecturer in the Department of Computer Science, UCL
Scott Farrell, Partner, King & Wood Mallesons, Australia
Paul Lewis, Partner, Linklaters LLP

4:30 PM Conference Concludes

Allen & Overy LLP, One Bishops Square, London, E1 6AD. Phone +44 (0) 203 808 9700. A map to the venue can be found here. You will be required to provide photo identification in order to enter the venue. Please ensure you present this at the ground floor reception or you may be refused entry.

Scott O'Malia

Chief Executive Officer

ISDA

Duncan Rodgers

ISDA Board Member, Managing Director, Global Head of ALEM, UK Head of GALM

UBS AG

Brian Quintenz

Commissioner, Chair of the Technology Advisory Committee

CFTC

Clive Ansell

Head of Market Infrastructure and Technology

ISDA

Cameron Goh

Global Head of Product, Rates & FX

LCH

Ayaz Haji

Head of MiFID II Technical Architecture and Data Strategy

Goldman Sachs

Harry McAllister

Information Architect

BNP Paribas Corporate & Institutional Banking (CIB)

Stuart McClymont

Managing Partner

base60 Consulting

Ian Sloyan

Director, Data and Reporting

ISDA

Bob Ferguson

Head of Department for Project Innovate

FCA

Klaus M. Löber

Senior Advisor, Market Infrastructure and Payments

European Central Bank

Jumpei Miwa

Director for Fintech, Credit System Office

JFSA

Stephen Murchison

Advisor to the Senior Deputy Governor

Bank of Canada

Satya Pemmaraju

Founder, Chief Executive Officer

Droit Financial Technologies PLC

Terry Roche

Principal, Head of FinTech Research

TABB Group

Mark Whitcroft

Founding Partner

Illuminate Financial

Dr. Lee Braine

Investment Bank CTO Office

Barclays

James Carlyle

Chief Engineer

R3

Joe Cassidy

Partner, FS Advisory

KPMG

Robin Moody

Global Head of SmartDX

SmartDX

Mas Nakachi

VP Strategy & Business Development

Axoni

Stephen O’Connor

Chairman

Quantile Technologies

Jennifer C. Peve

Executive Director Business Development, Co-head Office of Fintech Strategy

DTCC

Sesh Sundaram

Managing Director

CME Group

Dr. Peter Werner

Senior Counsel

ISDA

Dr. Christopher D. Clack

Senior Lecturer in the Department of Computer Science

UCL

Scott Farrell

Partner

King & Wood Mallesons, Australia

Paul Lewis

Partner

Linklaters LLP

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