FOW Regulation 2017 event educates the market on the latest changes in financial regulation and how it will impact derivatives trading in London and beyond.
The event is aimed at translating reforms into business opportunity. Each panel begins with an intro framing the legislation under consideration followed by a discussion on what that means for how you run your business or operations.
There are limited complimentary places to those from banks, brokerages and buyside firms.
If you have any questions about the event please contact Valerija Slavina firstname.lastname@example.org.
To discuss sponsor options email Hanna Debank at email@example.com
9:00 Welcome address
9:10 Keynote address
9:30 Beyond implementation – new business opportunities under MiFID II
While the majority of the market is focused on implementation of Mifid II, the pioneers are setting their sights on the business opportunities created by the reforms. The directive marks a structural shift in the derivatives market on an unprecedented scale. This panel will ask where
the opportunity lies in the new market structure.
- What does the post-Mifid II trading environment look like?
- How will market structure change create new opportunities?
- What opportunities are there from the changes to the Systematic Internaliser regime?
- How will Mifid II change interactions in the market in the long-term?
10:20 Coffee break
10:45 Brexit contingency planning
With uncertainty the only certainty around the Brexit negotiations, large financial institutions are making contingency plans for every eventuality. However, it is not only the larger companies that will be impacted and all businesses in the financial markets should understand
the potential impact and make contingency plans.
- How are larger firms preparing for Brexit?
- What impact on operations is Brexit likely to have?
- How can smaller firms cost effectively plan for Brexit?
- What are the tail risks of Brexit to be mitigated?
11:35 Presentation: Mifid II: Fact or fiction?
11:45 DEA and market access issues within Mifid II
Regulation of direct electronic access has taken centre stage in Mifid II bringing more questions than answers to date.
With a wide definition of HFT, differences across asset classes and continued uncertainty over third-country firm access, firms will need to
review their DEA flows and processes to meet requirements.
- How is DEA defined and what are the differences in interpretation of the rules across jurisdictions?
- How are firms dealing with the issue of sub-delegation of DEA?
- What is high-frequency algorithmic trading and what are the consequences for users of HFAT in various jurisdictions?
- What is straight-through processing and how will it impact firms across the market?
12: 35 Lunch
13:30 Regulatory reporting: peak implementation
2018 marks the introduction of new reporting rules under Mifid II, SFTR and changes to the existing regime under the Emir review. This will result in even more complexity in terms of data processing and reporting mechanisms. It is clear that many firms will have to
overhaul how they report both internally and externally in order to meet the requirements.
- What does the Emir review mean for reporting?
- How will Mifid II and SFTR rules change reporting processes?
- What are the main challenges in reporting firms are facing in 2018 and how to overcome them?
- How can firms drive efficiencies across the requirements to report?
14:30 Position limits: preparing for uncertainty
Position limits on commodity trading have been one of the most uncertain and complex parts of the Mifid II legislation. Uncertainty over the threshold of the limits, exemptions and the processes of monitoring remain with just months to go before the implementation causing major headaches for market participants.
- What are the limits and the implications for the industry?
- What is an “economically equivalent OTC product” and how to identify it?
- What are the data flows necessary for position monitoring?
- What exemptions are there and how can firms qualify?
15:20 Coffee break
15:45 The expansion of the Senior Managers Regime
From 2018, the Senior Managers Regime will be expanded to include all firms in the financial industry. Already applied to banks, non-bank brokerages, prop firms and asset managers are among those who will have to adapt to the new rules and understand the differences from
the current Approved Persons Regime.
- What responsibilities will managers have under the SMR?
- What internal operations need to change?
- What reporting is required under the regime?
- How does the regime change market surveillance requirements for trading firms?
16:35 Post Mifid II reforms
Mifid II is set to be one of the most intensive regulatory implementations the industry has ever know but the pace of reform will not let up.
With more reforms and the impact of Brexit on the horizon, we look ahead to the next stages of reforms including the General Data Protection Regulation, SFTR and more.
17:15 Drinks reception
The London office* acts for clients operating in the real estate, corporate, banking and finance, and financial services sectors. The real estate practice covers investment, development, real estate finance, hospitality and leisure, and corporate occupier work. The banking and finance team acts for lenders and borrowers across a range of lending products and the financial services team acts for trading platforms, clearing houses, all types of investment and trading firms, and funds. With US qualified lawyers in the London office sitting alongside their UK counterparts and part of a platform spanning the United States and Asia in centres of finance, including Charlotte, Chicago, Los Angeles, New York, Shanghai and Washington, DC, the London office offers skilled, integrated legal advice for domestic and international clients operating in the United Kingdom, Europe, United States and Asia.
*Operating through its affiliate Katten Muchin Rosenman UK LLP. Katten Muchin Rosenman UK LLP is authorised and regulated by the Solicitors Regulation Authority
NEX Regulatory Reporting, a NEX Group business, operates within NEX Optimisation, which helps clients simplify complexity and optimise resources. Powered by Abide Financial, NEX Regulatory Reporting platform lowers costs, eliminates operational risk and provides regulatory reporting effectiveness. Through the business’s multi-regime reporting hub, regulatory obligations are translated into future proof compliant solutions while its specialist advisory teams interpret the impact of evolving markets regulation relating to trade and transaction reporting. In addition to local European regulatory environments (EMIR, MiFID/II, SFTR, REMIT), NEX Regulatory Reporting provides specialised reporting services for entities subject to international regulatory regimes such as Dodd Frank, ASIC (Australia) and MAS (Singapore). For more information, go to www.nexregulatoryreporting.com
Shearman & Sterling LLP is a global law firm with approximately 850 lawyers in many of the major commercial centres around the world. Our award-winning global Financial Institutions Advisory & Financial Regulatory group works on complex cross-border issues and transactions and has advised on a significant number of high profile, first-in-kind, complex regulatory and compliance matters.
Our practice is truly multi-jurisdictional in its scope, with our core group practicing in London, New York and Washington, DC, and additional regulatory expertise in Toronto, Frankfurt, Paris, Milan, Brussels, Singapore and Beijing, among other offices. This allows us to match the global presence of many of our clients and provide seamless coverage in core jurisdictions. In the current environment, when so many of the rules are generated out of the Financial Stability Board and the Basel Committee, our cross-border regulatory practice allows us to stay ahead of regulatory trends and anticipate issues that may be relevant to you.
We provide a full global service to banks, investment firms, brokers, insurance and reinsurance companies, exchanges, SEFs/MTFs, clearing and settlement providers, fund firms, payment service providers and corporations on the laws and regulations of the world’s key financial and commercial centers. Capitalising on our regulatory knowledge and insight, we provide innovative solutions on a cross-border and local basis and assist clients in cultivating their relationships with regulators.
Addleshaw Goddard is a premium UK business law firm with international reach and an exceptional breadth of services. Our reputation for outstanding quality and service is built upon long term relationship investment and a deep understanding of client markets combined with high calibre expertise, straight talking advice and a collaborative team culture. We have offices: in Asia (Singapore and Hong Kong) and the GCC (Dubai, Oman, Qatar), a network of likeminded law firms around the globe, and an exclusive alliance with Hashidate Law Office in Tokyo. More than 40 FTSE 100 companies have instructed us in the last 12 months; and we are principal advisors for 20 FTSE 100 companies. We are immersed in the Financial Services sector, advising banks, building societies, insurers, payments institutions and other market participants on a wide range of legal and regulatory issues including PRA and FCA regulation, and EU regulation including MiFID2.
Grange City Hotel
8-14 Coopers Row, London