12th annual european structured products & derivatives · european structured products &...

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Conference 2015

European Structured Products & Derivatives

05 & 06 February 2015 | The Tower Hotel | London

BOOK NOW!Save £300 with ourEarly Bird prices BOOK BY 31 DECEMBER 2014

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Gold Sponsors:

Hear from the industry's leading experts:

12th Annual

CPD Accreditation:

Where the European Structured Products and Derivatives Market Meets

E: [email protected]: +44 (0) 207 779 8355W: StructuredRetailProducts.com/Events

Rui FernandesHead of Equities and Fund-Linked Products, Structuring, EMEA JP Morgan

Tim HailesChairman of the Joint Association Committee

Marc El Asmar Global Head of Sales, Cross Asset Solutions, Société Générale

Matteo VaghiManaging Director, Head of AWM Southern Europe, Deutsche Asset & Wealth Management

Eric PersonneGlobal Head of Citi Multi Asset Group, Citi

Rupertus Rothenhäuser Head of Sales & MarketingBörse Stuttgart

Tim EdwardsDirector, Index Investment Strategy, S&P Dow Jones Indices

Are You Shortlisted for an Award?

Find out on 07 January 2015Book your table now!

Mark MakepeaceCEO of FTSE and Group Director of Information Services, London Stock Exchange Group

Register now at: www.StructuredRetailProducts.com/Events

Pre-conference Training Day (Wednesday 04 February)A Simple Introduction to Structured Products

WHO WILL YOU MEET? Breakdown of delegates from last years conference

Course Trainer – Philip Bastiman Structured Investment Solutions

09:00 Introduction

09:15 European Market Update and Global Trends

• What products are popular and why?

• How do other countries tackle low yields?

• How do they compare with other types of investment?

10:00 Building Blocks

• What are the key ingredients of a structured product?

• How do they work?

10:45 Refreshment break

11:15 Structuring Products

• How can the ingredients be combined to meet customers’ differing needs?

• Covering protected products and reverse convertibles

12:00 Wrapping the Solutions

• In what legal forms are structures available?

• How do different wrappers address the varying needs of customers?

13:00 Lunch

14:00 Managing Risks

• What are the risks of issuing and investing in structured products?

• How can those risks be mitigated?

14:45 Commercial Drivers to Maximise Sales

• What are the benefits of structured products?

• Why issue or invest in them?

• Where do they fit in a portfolio?

15:15 Refreshment break

15:45 Structured Products Assessment

16:45 Wrap-up and final questions

Breakdown of regions

Seniority of delegates

Companies in attendance

UK & Ireland

Europe

of delegates in attendance have executive decision making power and consist of:Chief Executive Officers | Global Heads | Senior DirectorsChief Development Officers | Heads of Structured Products

48%

52%

80%

Regions Represented:France & BeneluxDACHCEMEANordicsSouthern EuropeUK and Ireland

AG Insurance

Allen & Overy

Ashburton Investments

Ashurst LLP

Autoriteit Financiële Markten

AXA Investment Managers

Banca IMI

Bank Millennium PLC

Bank of Ireland

Bank Zachodni WBK S.A.

Barclays Investment Bank

BCP Asset Management

Belfius

BNP Paribas

Börse Stuttgart AG

Cadwalader, Wickersham & Taft LLP

Citigroup

Clifford Chance

CMVM

Commerzbank

Coutts

Credit Suisse

Danske Bank

Derivatives Week

Deutsche Bank AG

Deutscher Derivate Verband

Emolument

Epsilon SGR

European Bank for Reconstruction and Development

EUSIPA

Financial Conduct Authority

Fineco Bank Priveda Kutxabank

Finnish Financial Supervisory Authority

Finvex Group

Garantum Fondkommission AB

Goldman Sachs

Handelsbanken Capital Markets

HSBC

ICAP

ING Bank

Investec Bank Plc

JP Morgan

KBC Asset Management NV

Leumi Finance Company

Lexifi

Lloyds Bank

Mangold Fondkommission

Merck Finck & Co

Merrion Capital

Mitsubishi UFJ Securities

Modelity Technologies

MoraBanc

MSCI

MSS Real Estate

NASDAQ OMX

Nomura International plc

Nordea Bank

Old Mutual

Oreum Advokatbyrå

PKO Bank Polski SA

Pricing Partners

RBC Capital Markets

RBS

RobecoSAM AG

Russell Investments

S&P Dow Jones Indices

Santander

Société Générale

Source

Stoxx Ltd

Swedbank AB

Target Group

TD Securities

TFS Derivatives

Thomson Reuters

UBS

UK Structured Product Association

Vienna Stock Exchange

WEPEX

200+ Delegates in attendance

Philip Bastiman has over 20 years’ experience of developing and growing the counter option, swap, structured deposit and investment businesses. He is the founder of Structured Investment Solutions which provides independent expertise and resources for financial services companies.

This pre-event training is ideal for: • Newcomers to the industry & graduate hires;

• Regulators;

• Sales Teams;

• In-house legal teams;

• Product development & marketing professionals;

• Compliance and risk functions

• IFAs

Training to provide greater understanding of:• Building blocks used to make

structured solutions

• Delivering solutions that meet customers’ needs

• Risks of ‘SP’ and ways to mitigate them for providers and end users


Call: +44 (0) 207 779 8355 Email: [email protected]

PROGRAMME

DAY ONE: THURSDAY 05 FEBRUARY

07:45 Breakfast and Registration Sponsorship Available

08:30 WelcomeJan Scibor-Kaminski, Managing Director, SRP

08:45 Keynote AddressMark Makepeace, CEO of FTSE and Group Director of Information Services, London Stock Exchange Group

09:05 Global Market OverviewJan Scibor-Kaminski, Managing Director, SRP

09:40 Quantitative and Algorithmic Content for Derivative-based Products

Moderator: Emanuele di Stefano, Managing Director and Head of Citi Investment Strategies, Citi Gareth Parker, Senior Director, Index Research, Design & Development, Russell Indexes Tim Edwards, Director, Index Investment Strategy, S&P Dow Jones Indices Marc Pantic, Head of Société Générale Index, Société Générale

• Can we keep low notional level indices immune from EU benchmarking regulations?• Should investors partner with a bank, an asset manager or an ETF provider?• Trends in assets, flows, and product development• Is there a single term to describe non-market cap-weighted indices?• Does smart beta complement or compete with market-weighted indices?• Does managing factors such as value, momentum, quality and volatility give an investor too many moving parts?• Will regulatory impact of ESMA’s paper on third party indices eat my alpha?• Are index providers now just “wrappers” for differentiation to boost diversity/neutrality?

10:30 Networking Break Sponsorship Available

Stream A: Stream B:

11:10 Data, Transparency, Independent Valuation and Disclosure

Moderator: Joe Burris, Head of Americas, SRP Christian Vollmuth, Managing Director, Deutscher Derivate Verband Rachid Lassoued, Global Head of Financial Engineering Group, BloombergStefan Sonnerstadt, Chief Administrator of Structured Products, SPISEran Elad, VP Sales - Structured Products, Modelity

• Do banks now see the value of transparency?• Does the market itself not represent independent valuation?• Valuations – what form of legal disclosure will be required? • Mid-price and estimated cost - is the DDV model to

be adopted?• Success of Estimated Value in the US?• Transparency of index providers as calculation agents?• KIDS, PRIPS: all good?

Derivatives Clearing: what is the best model for segregation of assets?

Moderator: Representative, BloombergRichard Wilding, Deputy Head of Business Development, Eurex ClearingSara Cescutti, Senior Sales & Relationship Manager, EuroclearJamie Gavon, Director, NewEdge

• What differentiates one model from another?• How clear are segregation offerings for the buy-side? • How safe are your assets under different segregation models?• How will losses be managed if CCP defaults?

Distribution of Derivatives and Structured Products Break-out Sessions and Educational Workshops

11:55 Developing Listed Products, ETFs, ETPs, Warrants – how can exchanges help distribute derivative-based products more efficiently?

Moderator: Klaus Oppermann, Head of Listed Products, CommerzbankRupertus Rothenhäuser, Head of Sales & Marketing, Börse StuttgartMichael Buhl, Chief Executive Officer, Wiener Boerse

• Current trends in the ETF/ETP landscape• What are exchanges doing to promote listed products?• What is the importance of ETPs and their role in liquidity, asset

allocation, portfolio hedging, and investment management? • What are the advantages of each especially in light of:

— Their use as underlyings — Posting collateral— Clearing houses— How can exchanges help OTC trading?

• Is the CATs platform the future for Europe?• Index Construction and Using ETFs in Asset Allocation

Smart Beta, Alternative Indices, and Factor Investing: let’s demystify the jargon!

Representative, WisdomTree (Europe)Robert Walton, Director of Index Services, ICAPRicardo Manrique, Executive Director MSCI Indexes

• Alternative Weighting, Smart Beta, Factor Investing, Alternative Beta – what does it all mean?

• How can Smart Beta be constructed and used and what are the implications for investors?

• What are the differences between traditional, market-cap weighted indices and alternatives?

• What will facilitate the migration of factor-investing from institutional to retail?

• Strategic allocation: risk control or volatility control?• Can we create benchmarks to measure pure asset allocation?• What different tools are available to investors?• Strategies based on volatility, correlation and dividends?

European Structured Products & Derivatives Conference


DAY ONE: THURSDAY 05 FEBRUARY

Stream A: Stream B:

12:35 Sophisticated solutions for UHNWI and Corporates: derivative overlay strategies and other “options”

Moderator: Paul Adams, Managing Director, Head of UK, Nordic & Offshore, Structured Products, RBC Capital Markets Matteo Vaghi, Managing Director, Head of AWM Southern Europe, Deutsche Asset & Wealth ManagementBen Hunt, Head of External Investment Products, Coutts

• What structured solutions do corporates and UHNW Clients need?• Are managed ETF portfolios more liquid and easier to manage?• How can an institutional client enhance returns

through derivatives?• The rise in available tools that can be accessed by the IFA

and institutional investment community

The Role of Hedge Funds and Structured Funds in the Investor Portfolio

Matt Moran, VP Business Development, Chicago Board Options Exchange (CBOE)Yannic Raulin, Head of Structuring & Financial Engineering France and Asia, Amundi AM

• Do alternative assets lower volatility, provide diversification to the traditional stock/bond asset mix and generate greater overall returns?

• Are liquidity needs addressed?• Global Macro vs. Equity Long-Short• Expected Risk vs. Return• Any advantages to UCITS wrapper?• The expediency of client reporting and ease of implementation

13:15 Lunch Sponsorship Available

14:00 Speed Networking Sponsored by

14:30 e-commerce

Moderator: Johan Groothaert, Founder, FiduciamPhilipp Kalb, Head of Product Management, Primegate, CommerzbankDavid Wood, MD, Head of e-Business, Cross Asset Solutions, Société GénéraleAndrew Au, Chief Executive Officer, AG Delta Gerhard Meier, Head of Multi Issuer Platforms, Vontobel AG

• How quickly are we becoming electronic? How fast are we progressing on RFQ?• Is e-trading the future? If so what form will it take?• e-commerce: how do we connect trading books with the client?• Platforms, meta platforms, ‘multi issuer platform’ or exchanges?

15:15 In Conversation with Investors

Philip Parsons, Director, Blackfriars Enterprise and Trustee of The Lynn FoundationRobert Stopa, Owner, Stopa Wealth Management Solutions Mark Fitzgerald, Founder, MX Partners and Trustee of The Heritage Aircraft Trust Charity

An investment banker will engage openly with a panel of potential investors and IFAs and try to sell them a product

• What is your risk profile and what do you traditionally invest in?• What products are suitable for you?• Which of the products would you not invest in and why?• The changing role of investment advisors post-RDR

16:00 Break Sponsorship Available

16:40 Leaders’ Forum: In Conversation with leading manufacturers

Moderator: Richard Jory, Global Head of Content, SRPRui Fernandes, Head of Equities and Fund-Linked Products, Structuring, EMEA, JP MorganEric Personne, Global Head of Citi Multi Asset Group, CitiMarc El Asmar, Global Head of Sales, Cross Asset Solutions, Société Générale

• How might we better access market inefficiencies?• How do you regain trust and credibility in the eyes of investors?• Price transparency and Fair Value: surely this is the future? • Is prop indexing the new battleground? • AFMD vs. MIFID: are banks now utilities in 2015?• When will pension funds consider derivatives more readily?• What’s most important: wrapping, underlying, distribution, scale – or having a pragmatic in-house lawyer?!

17:35 Closing Remarks Kris Deslagmeulder, SRP

17:45 Drinks Reception Sponsorship Available

19:15 Awards Ceremony



AWARDS

European Structured Products & Derivatives Awards Ceremony05 February 2015 | The Tower Hotel | London

Five Reasons to Attend the Awards Ceremony1. Gain public recognition with brand-building in front

of your industry peers;

2. Host your clients and thank them for a

successful partnership;

3. Increase your profile among Europe's top structured products players

4. Gain competitive advantage from attending the event you will be

the first to know which companies are leading the industry this year;

5. Thank your team by demonstrating your

appreciation for all your team’s hard work with a glamorous high-profile evening.

SRP European Awards 2014 WinnersBEST HOUSE, EUROPE

BEST HOUSE, EUROPE - COMMODITIES

BEST LAW FIRM, EUROPE BEST INDEX PROVIDER, EUROPE

The Structured Products & Derivatives Awards Ceremony will honour the best buy-side and sell-side firms from across the European region, as well as identifying the best index providers, law firms, tech companies, ETF provider and ETF market maker.

EUROPE AWARDS 2015

Are You Shortlisted for an Award?

Find out on 07 January 2015Book your table now!

BEST HOUSE, EUROPE - EQUITIES

European Structured Products & Derivatives Conference


PROGRAMMEDAY 2: FRIDAY 06 FEBRUARY

08:15 Breakfast and Registration Sponsorship Available

08:55 Welcome AddressJeremy Jennings-Mares, Partner, Morrison & Foerster

09:00 Law Firm Roundtable

Moderator: Tim Hailes, Chairman of the Joint Associations CommitteePeter Green, Partner, Morrison & FoersterAndrew Coats, Partner, Clifford ChanceAndrew Sulston, Partner, Allen & OveryNicola Higgs, Senior Associate, Ashurst

09:45 Roundtable: Q&A with Global Regulators

Moderator: Tom Young, Managing Editor, IFLRTim Hailes, Chairman of the Joint Associations CommitteePatrick Armstrong, Senior Officer, Financial Innovation at European Securities and Markets Authority, ESMAWolf Copp-Columb, Head of Federal Financial Unit, Securities & Markets/Asset Management, BAFINWerner Bijkerk, Head of Research, IOSCOBarbara Antonides, Supervision Officer Efficient Capital Markets, AFMRepresentative, CONSOB

• Are structured products suitable for retail?• Are banks still being “punished”?• Do the Belgian and Italian regulators seek to accelerate concentration risk in other asset classes?• Will investors read termsheets that are longer than novels?• The fragmentation of Europe and extra-territorial regulations• Is Fair Value the future?

10:45 Networking Break Sponsorship Available

11:30 Volatility: an Asset Allocation Decision or Risk Management Strategy?

Matt Moran, VP Business Development, Chicago Board Options Exchange (CBOE)Daniel Danon, Portfolio Manager, Assénagon AM

Volatility’s negative correlation to major indices gives investors opportunities.

• How can investors use volatility in their portfolio efficiently and effectively?• Expiry of futures and options – is it just a case of market timing?• Features of tradeable indexes in different volatility regimes?• How has the volatility landscape changed in terms of types of products and their users?• Dynamic or rebalancing strategy? • Can we expect more risk-control indices?• Risk control index within fund vs a Structured Product or ETF from the investor’s point of view?

12:15 Closing RemarksRichard Jory, Global Head of Content, SRP

12:30 Lunch Sponsorship Available

14:00 Conference Ends



THANK YOU TO OUR SPONSORS:

With more than 10 years of Global Structured Product Intelligence, SRP provides the perfect opportunity to position your company as a leading player in front of 200+ of the industry’s leading executives. By sponsoring the event, you will benefit from significant brand building, networking, and exposure both before and during the event.

To discuss a tailored branding opportunity, contact:Kris Deslagmeulder, Head of APAC & EMEA T: +44 (0)20 7779 8201E: [email protected]

Gold Sponsors:

Silver Sponsors:

Bronze Sponsors:

Associate Sponsor:

Commerzbank is a leading bank in Germany and Poland. It is also present worldwide in all major markets for its customers as a partner to the business world. With the business areas of Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, it offers its private and corporate clients as well as institutional investors the banking and capital market services they need. Commerzbank Corporates & Markets (C&M), the Investment Banking division of Commerzbank AG, provides corporate and institutional clients with a comprehensive range of commercial and investment banking products and services globally with its main offices in Frankfurt, London, New York, Hong Kong and Singapore. C&M contributes to the real economy by committing capital to support clients’ long-term ambitions, and stands for trusted long-term relationships, aiming to provide clients with transparent risk management solutions and unbiased advice. Learn more, please visit cbcm.commerzbank.com

Société Générale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams. Société Générale has been playing a vital role in the economy for 150 years. With more than 148,000 employees, based in 76 countries, we accompany 32 million clients throughout the world on a daily basis. Société Générale’s teams offer advice and services to individual, corporate and institutional customers. The Cross-Asset Solutions department, part of the Global Markets Division of SG CIB, is an integrated multi-asset market structured solutions provider. The department offers customized solutions to a wide variety of clients, based on a comprehensive range of underlying asset (equities, commodities, interest rates, currencies, credit, hidden assets, hedge funds, mutual funds, and multi-asset/hybrid products).Learn more, please visit www.sgcib.com

As the leading exchange for securitised derivatives in Europe and for corporate bonds in Germany, Börse Stuttgart is Europe’s leading exchange for private investors. In Stuttgart, investors can efficiently trade equities, securitised derivatives, debt instruments, investment fund units and participation certificates at reasonable prices. With an average of around 39 percent of order book turnover, Börse Stuttgart is Germany’s leading player in the area of intermediary-based exchange trading. With a hybrid market model that involves trading experts into the electronic trading process, the Stuttgart Stock Exchange guarantees extremely flexible and cost-effective order execution. In addition to the German exchange business, Börse Stuttgart owns the Nordic Growths Market in Stockholm, the leading exchange for Structured Products in the Nordic markets. In summer 2014, Börse Stuttgart bought the OTC Trading platform CATS from Citigroup. Börse Stuttgart CATs is providing OTC execution and order rooting for retail structured products in many European countries like France, the Netherlands or Austria. Learn more, please visit www.boerse-stuttgart.de

Morrison & Foerster’s derivatives, commodities and structured products practice is a recognized market leader. We represent the derivatives and structured products groups at investment and commercial banks; insurance companies; mutual funds, hedge funds and other financial institutions; public corporations; and holders of restricted equity securities. By bringing together product structuring, regulatory, tax, and transactional expertise, we are able to advise clients in these rapidly changing areas. That combination of expertise and market context lets us identify opportunities where others see only problems. Learn more, please visit www.mofo.com

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Among the many innovations Citi offers to individual and institutional investors are notes, deposits, certificates, OTC derivatives, warrants, funds, rules-based investment strategies and more. Citi’s investments are designed to meet a range of financial goals, including yield enhancement, hedging portfolio risk and access to global markets. Learn more, please visit www.citi.com, www.funds.citi.com and www.citifirst.com

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. ICAP’s Index business, ICAP Indices, is an index provider specialising in rates, fixed income and money markets. Learn more, please visit www.icap.com

Executive Summary on RBC as an Issuer • RBC Global Investment Solutions provides Structured Products bespoke solutions to its client base • RBC is a $96bn+ market cap global bank, rated Aa3/AA-/AA all with a stable outlook; ranked 4th strongest bank in the world by Bloomberg • RBC is number one financial services provider in Canada • 79% of RBCs revenues are generated within Canadian Banking, Insurance and Private Wealth Management • RBC is major actor in the structured products space (n1 SP issuer in Canada, top 3 SP issuer in the US, top ranked provider in the EMEA WM space) • Global Structured Products division with trading hubs in Hong Kong, Tokyo, Sydney, London, New York and Toronto • Dedicated product development and legal team focused on solution driven transactions. Learn more, please visit www.rbccm.com

The German Derivatives Association (DDV) is the industry representative body for the 16 leading issuers of structured products in Germany. The largest association of its kind, DDV serves as a political interest group in Frankfurt, Berlin and Brussels. DDV’s members are among the most important certificate issuers in Germany, representing about 90 percent of the total market. DDV’s aim is to improve the general political and regulatory conditions for structured products in Germany and at European level. Additionally education for private investors to choose certificates and warrants is a big Issue. The Association is an advocate of self-regulation, and it works to set industry standards. In 2014 DDV was named Best Structured Product Association in Europe by SRP. Learn more, please visit www.derivateverband.de/DEU/Start

SPONSORSHIP OPPORTUNITIES

1 Sell-side Conference Pass

EARLY BIRD PRICE expires 31 December 2014

Save £300Full Price £1,599

£1,299EARLY BIRD PRICE expires 31 December 2014

1 Sell-side Training Day Pass

Save £100Full Price £899

£799


FEEDBACK FROM OUR PREVIOUS CONFERENCES:

1 Buy-side Conference & Training Day PassEARLY BIRD PRICE expires 31 December 2014

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1 Sell-side Conference & Training Day PassEARLY BIRD PRICE expires 31 December 2014

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Who will you meet?

SECURE YOUR PLACE NOW:

The SRP conferences have helped us to increase our brand visibility and showcase our capabilities to potential customers. From sponsoring these events we’ve been able to link with a large pool of key industry leaders in a topical and effectively designed networking environment.

Rupertus Rothenhaeuser, Managing Director, Head of Marketing & Sales, Börse Stuttgart

The conference focuses on intercultural exchange. The networking promoted our understanding and mutual appreciation for others in the industry and in this respect it was quite a successful event.

Lars Brandau, Managing Director, Deutscher Derivate Verband (DDV)

The Annual European Structured Products & Derivatives Conference has proven to be very valuable for us. ICAP Indices is an index provider specialising in fixed income, interest rates and money markets and the conference is a great opportunity to meet potential clients, invite delegates to our very popular ICAP sponsored Speed-Networking event and market our range of innovative indices.

Jan de Smedt, Global Head of Indices, ICAP Information Services

THE TOWER HOTEL | LONDONSt Katharine’s WayLondonE1W 1LD

SRP has negotiated a specially discounted room rate for delegates requiring overnight accommodation in London. Once you have confirmed your registration for the Conference, we will provide details on how to book your room at the discounted rate.

Venue Information

1. Online www.StructuredRetailProducts.com/Events

3 EASY WAYS TO REGISTER:

3. Email us at [email protected]

2. Call us on + 44 (0) 207 779 8355

32%Sell-side

200+Delegates in attendance

34%Buy-side

34%Other (Law firms, Regulators, Index Providers)

12th annual european structured products & derivatives · european structured products &...

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