ACI Russia eFX Summit 2018

November 20, 2018, Ritz-Carlton, Moscow, 9:00-21:00

Panel Discussions and Exhibition, followed by cocktail reception.

Gold Sponsors:  Alfa-Bank, LMAX Exchange Group, Metallinvestbank, Moscow Exchange, NT Pro,   Raiffeisenbank, Sberbank, EBS

Silver Sponsors: BCS Global Markets,  IPC​, Refinitiv

Bronze Sponsors: Lucera, Integral

Media partners: PRIME, Association of Corporate Treasurers, CbondS

*  The list of sponsors and exhibitors is not closed, please contact organisers by email council@aci-russia.ru in order to apply for partnership 

* The working languages of the conference are Russian and English, simultaneous translation to be provided.

Agenda

09:00-9:30 Registration and welcome coffee

09:30-10:30 Panel 1. Trends in the global eFX trading. Directions in the development of electronic FX commerce in Russia.

• International trends.
• What are the trends in the development of electronic FX commerce in Russia? Who are the main market participants? How do they compete?
• Exchange traded market vs over-the-counter? CLOB vs Bilateral trading.
• Practices performances: Full Amount vs Sweep.

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; ACI Russia, President (M)

Alexander Zozulya, Sberbank, Managing Director, Global Markets

James Beilby, Alfa-Bank, Head of Algorithmic Trading

Anton Kenyaykin, Raiffeisenbank, Director, Head of Capital Markets Sales

Roland White, LMAX Exchange Group, Global Head of Institutional Sales

Marc Millington-Buck, MOEX, Head of International FX Business Development

Antonio De Gregorio, Refinitiv, Managing Director, Central and Eastern Europe and CIS

Gregory Ivanov, EBS, Sales Director Russia&CIS

10:30-11:30 Panel 2. The impact of regulation and self-regulation on changes in trading practices in the international and Russian foreign exchange market.

• MIFID, EMIR: how close are Russia and Europe? Dodd-Franck – does America decree us?
• FX Global Code: how much has it changed the market? Prospects for recognition in Russia.
• What is missing in the Code? How can it be improved? Control mechanisms?
• Rule book for trading electronic platforms.
• Last Look, Pre Hedge, Cover and Deal.
• Do manipulations in the foreign exchange market exist?

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; Chair of The Moscow FXJSC (M)

Konstantin Zyryanov, ACI Russia, Managing Director

Valery Lyakh, Central Bank of Russia, Head of Department for Countering Misconduct

Roland White, LMAX Exchange Group, Global Head of Institutional Sales

Dmitry Piskulov, MOEX, Head of Product & Services Development, FX Market Department

John Mason, Refinitiv, Global Head, Regulatory & Market Structure Propositions

11:30-11:45 Coffee break

11:45-12:45 Panel 3. Pricing streams and liquidity provision management in an electronic platform.

• Moscow vs London: where is liquidity? Is it possible to effectively trade the ruble for 24 hours?
• Internalization against externalization.
• Customers, market-maker’s view: "good, bad and ugly."
• Market makers, customer view: how much does liquidity cost (TCA)?
• Risk management in electronic trading platforms. Principles of building pre-trade / post-trade control.
• Organization of settlements. The main approaches: directly, through the CCP or a prime broker. Advantages and disadvantages.

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; Chair of The Moscow FXJSC (M)

Gleb Yarnykh, Raiffeisenbank, Senior Vice President, E-commerce Trading, Electronic Trading Department

Andrey Skabelin, MOEX, Department Director, Head of FX Market

Alexey Ilyin, Refinitiv, FInancial Markets Specialist

Gregory Ivanov, EBS, Sales Director Russia&CIS

Dmitry Gavrilets, Sberbank, Senior Trader, FX Trading

James Beilby, Alfa-Bank, Head of Algorithmic Trading

12:45-14:00 Lunch

14:00-15:00 Panel 4.  Electronic trading platforms in Russia and in the world. From aggregator to the client platform. How to implement an electronic trading platform in a commercial bank?

• Typology of platforms on the market. What tasks do they solve?
• What are the differences between the platforms on the Russian market? Criteria of choice.
• How to build an effective price aggregator and price engine.
• How to create an effective e-commerce client transactional platform.
• Experience of buying a platform from a vendor and in-house developed solutions.
• Cloud technology or hosting on your server?
• Mobile applications for electronic platforms.
• Business cases.

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; Chair of The Moscow FXJSC (M)

Stanislav Bublik, Sberbank, Executive Director, Electronic Markets Distribution

Pavel Grishin, NT Progress, Technical Director

Pavel Rokhlov, MOEX, Product and Services Development, FX Market

Maxim Burko, Refinitiv, Sales Specialist, FX/MM

15:00-16:00 Panel 5.  Client evaluation of electronic trading platforms.

• Foreign exchange risk hedging practices.
• Electronic platforms or voice trading?
• Banks or exchanges?
• What determines the choice of counterparty and platform?

Andrey Sumin, MOEX, Key accounts director (M)

Alexey Ilyin, Refinitiv, FInancial Markets Specialist

Ilya Dulin, Raiffeisenbank, Head, Director, Corporate Sales Department

Anton Baronin, BCS Global, Deputy Head of corporate sales department OTC Derivatives

Maria Dorokhina, OMK, Head of Liquidity and Hedging

16:00-16:15 Coffee Break

16:15-17:15 Panel 6. Algorithmic and high-frequency trading. Russian experience and global trends.

• Definition of algorithmic and high-frequency trading. What is behind those terms? High-frequency trading as a segment of algorithmic trading.
• Market review of algorithmic trading and the main participants. Key trends in the algorithmic trading market.
• What does the Russian market look like in comparison with world trends in terms of development, the number of participants, profits and regulation?
• Myths and reality of algorithmic trading. How to run your algorithm and what are the costs of entering the market? What are the profitability levels of the algorithms? Should I buy a ready to use solution or should I always make my own?
• HFT strategies that likely run counter to good public policy. How to deal with them?
• The role of communication lines providers. Internet connection vs a dedicated line. What is more important: speed or cost reduction?
• Is it worth paying for the collocation service?

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; ACI Russia, President (M)

Gregory Baytsur, MOEX, Head of external systems support division Trading and clearing systems development Center

Gregory Ivanov, EBS, Sales Director Russia&CIS

Yury Savitskiy, Alfa-Bank, Head of Algorithmic Trading

Anton Govor, MOEX, Managing Director, Head of Strategy & Innovations

Ivan Samokhin, BCS Global, Vice-president Prime brokerage Sales HFT and DMA for Russia/CIS

17:15-18:15 Panel 7.  Discussion: how the ideal matching platform for the primary wholesale FX market should be arranged?

• Continuous matching vs discrete auctions.
• Latency arbitrage and HFT arms race – how does it affect the market?
• Randomization, latency floor.
• Distribution of the market data.
• The optimal tick size?
• Incentives for market-makers?

Sergey Romanchuk, Metallinvestbank, Head of FX&MM; ACI Russia, President (M)

Anna Senina, Refinitiv, Regional Business Development Manager, Financial Markets

Anna Obizhaeva, NES, Professor

Gregory Ivanov, EBS, Sales Director Russia&CIS

Marc Millington-Buck, MOEX, Head of International FX Business Development

18:30 Rope up. Cocktail. Networking.