Trading Milan


Westin Hotel, Milan, Italy

08 Nov 2017

Trading Milan will be launched on 8th of November 2017 and held at the Westin Hotel, Milan.

The forum brings together the local and regional asset management and wider professional trading community for a day of discussion and debate on the key issues facing business models today.

Topics focus on both the local and international issues facing the market.

If you have any questions about the event please contact Valerija Slavina valerija.slavina@globalinvestorgroup.com.

To discuss sponsor options email William Mitting, William.mitting@globalinvestorgroup.com.

 

 

Agenda Overview



8:45 Registration and refreshments

9:45 Welcome address

10:00 Keynote address

Ivo Pezzuto, Professor of Economics, Global Scenarios, Finance, Strategy, Innovation and Entrepreneurship, ISTUD

10:20  Outlook for 2018 and beyond: opportunities and risk in the italian market

11:00: Coffee break

11:20 Presentation

Corporate Bond Index Futures – manage your credit risk exposure of core Eurozone countries
Jutta Frey-Hartenberger, Vice President, Fixed Income & FX Product R&D, Eurex

Euro-BTP Futures and Options at Eurex - Trading the Italian Yield Curve
Francesca Dell'Era, Vice President, Fixed Income Trading & Clearing Sales, Eurex

11:35 State of the Italian asset management industry: adapting to challenges, leveraging on local opportunities

Across Europe and beyond the traditional asset management business model is under pressure from lower yields and competition from passive investments. This is resulting in consolidation, increased efficiency and innovation. While the Italian asset management market has thrived over the past years, it is not immune to the challenges.


- What is causing pressure on asset managers today? Where are the operational efficiencies and new distribution opportunities are out there?
- Has the PIR regulation already reshaped the liquidity profile of Italian Mid Caps stocks? Which opportunities to list PIR compliant derivatives?
- What opportunities are there in PIR funds for investors, how the Italian asset management community responded to this opportunity so far?

Andrea Mornato, Director, Invesco Asset Management 
Massimo Giorgini, Head of Equity and Derivatives Markets Business Development, Borsa Italiana 
Michele Troiani, Head of Continental Europe Buyside Relationship Management, Borsa Italiana 

12:15 ETFs rapid growth and expansion into new asset classes

Global ETF assets topped $4tr earlier this year and are fast growing in Europe. Not only is use of the instruments growing, ETFs are expanding into new asset classes and are being used in increasingly varied ways by the professional investment community. This panel will discuss the factors that are driving this growth and how ETFs can complement your trading strategy and portfolios.

- What is responsible for the rapid growth of ETFs around the world?
- How are ETFs increasingly being used as financial instruments?
- What is behind the popularity of fixed income ETFs
- How is ETF liquidity changing with new order protocols such as the launch of RFQ in Italy?

Moderator
Demis Todeschini, Listing and Market Development Manager ETFs, ETPs and open end Funds Market Capital Markets, LSEG

Speakers
Daniele Sabato, ETF Sales, Intermonte  
Rick van Leeuwen, Institutional Trading, IMC 
Umberto Urso, Institutional Trader, Flow Traders 
Vincenzo Sagone,
Head of ETF, Indexing, & Smart Beta Business Unit, Amundi SGR

12:55 Lunch break

13:50 Presentation: Open end funds trading: opportunities for institutional investors 

Silvia Bosoni,
Head of ETFs, ETPs and open end Funds, Listing and Market Development, Borsa Italiana

14:00 Getting the most out of your assets under management

As costs rise and yields fall across the business it has never been more important to maximise the potential of assets under management and reduce inefficiencies across the business. Securities lending, clearing and better collateral management all offer the ability to raise revenues. This panel will look at how.

- What are the latest trends in Securities Lending in Italy?
- How can firms maximise the revenues from their assets under management?
- How can asset managers better manage collateral?
- How much can clearing reduce collateral requirements?

14:40 Interest rate returns and the end of Quantitative Easing

As the global economic recovery looks set to strengthen, a return to “normality” monetary policy in the major global economies is predicted. Not only does this mean a return to interest rate uncertainty but a major support for the continents equity and bond markets will be removed. This panel will look at the implications for asset managers and professional traders.

- What is the outlook for interest rates in the major economies?
- What impact will the end of QE and rising rates have on the Italian markets?
- How has the interest rates derivatives market changed since the financial crisis?
- What instruments can investors use to position themselves for rising rates?  

Luca Barillaro,
Trader & Independent Financial Advisor 
Antonio Ruggeri, Portfolio Manager, Syz Asset Management 
Alessio Abate, Portfolio Manager, Edmond de Rothschild (France), SI
Byron Baldwin, Deputy Global Head,  Fixed Income Trading & Clearing Sales, Eurex

15:20 Coffee break


15:45  Unbundling execution and research
 
One of the most challenging aspects of Mifid II for asset managers and brokers has been the unbundling of research and execution. This panel asks what models are likely to emerge and what will be the market impact.
 
-  How will brokers charge for research in the post-Mifid II world?
-  How will asset managers allocate the costs of research?
-  What does the post-Mifid II research model look like across Europe

Sam Tyfield, Partner, VedderPrice 
Alessandro Portolano, Lawyer, Chiomenti 
Bepi Pezzulli, Chairman, General Counsel & Chief Compliance Officer , Finlombarda Spa

16:25 Brexit: impact on the European asset management community

In 2019, the UK will formally leave the European Union. With just two years to negotiate the settlement, there are certain to be numerous issues left on the table and much uncertainty when it comes to cross border business and capital flows between the UK and Europe. For European asset managers there may be opportunities as well as a challenges.

- How might Brexit impact investment in UK-based managers?
- What impact might Brexit have on access to the City of London for European firms?
- What can firms do now to prepare for disruption?
- Is Brexit an opportunity for EU asset managers?

Moderator
Will Mitting, Managing Director , Global Investor 
Edoardo Guffanti, Founding Partner, Craca Di Carlo Guffanti Pisapia Tatozzi  
Peter Andrews, Senior Adviser, Oxera Consulting LLP 
Jeff Greenbaum ,Lawyer, Hogen Lovells

17:10 Drinks reception

Agenda


 

8:45 Registrazione e rinfresco

9:45 Saluto di Benvenuto

10:00 Keynote address
Ivo Pezzuto, Professor of Economics, Global Scenarios, Finance, Strategy, Innovation and Entrepreneurship, ISTUD

10:20  Dibattito Sulle Elezioni Italiane

11:00: Pausa Caffè

11:20 Presentazione
Corporate Bond Index Futures – manage your credit risk exposure of core Eurozone countries
Jutta Frey-Hartenberger, Vice President, Fixed Income & FX Product R&D, Eurex

Euro-BTP Futures and Options at Eurex - Trading the Italian Yield Curve
Francesca Dell'Era, Vice President, Fixed Income Trading & Clearing Sales, Eurex

11:35 Il settore italiano dell’asset management: adattamento alle nuove sfide, sfruttamento delle opportunità locali
In tutta Europa, e non solo, il modello tradizionale dell’asset management si trova in un momento di crisi dovuto agli scarsi rendimenti e alla concorrenza degli investimenti passivi. Ciò comporta un maggiore consolidamento, efficienza einnovazione. Sebbene il mercato italiano dell’asset management abbia prosperato negli ultimi anni, non può certamente rimanere immune alle sfide.

- Oggi, cosa mette in crisi chi gestisce i beni patrimoniali? Dove è possibile trovare  le efficienze operative e le nuove opportunità di distribuzione?
- Il regolamento PIR ha già avuto un impatto sulla liquidità delle MID Cap Italiane? c’è l’ opportunità   di ammettere alla negoziazione  strumenti derivati  PIR compliant?
- Quali sono le opportunità di investimento nei fondi PIR per gli investitori? Come la comunità italiana di asset management ha risposto a questa opportunità finora?

Andrea Mornato, Director, Invesco Asset Management
Massimo Giorgini, Head of Equity and Derivatives Markets Business Development, Borsa Italiana
Michele Troiani, Head of Continental Europe Buyside Relationship Management, Borsa Italiana

12:15  ETF in rapida crescita ed espansione in nuove classi di attività
Gli asset ETF globali hanno superato i 4 trilioni di $ dall'inizio di quest'anno e sono in rapida crescita in tutta Europa. Non solo è in crescita l'utilizzo degli strumenti ma, in aggiunta, gli ETF stanno conquistando nuove classi di beni e sono utilizzati in modi sempre più vari dall’intera comunità d’investitori professionali. Si discuteranno i principali fattori che oggi guidano questa crescita e come gli ETF possono completare la vostra strategia d’investimento e il vostro portafoglio.

- Chi è responsabile della rapida crescita degli ETF nel mondo?
- In che modo gli ETF vengono utilizzati come strumenti finanziari?
- Cosa c’è dietro la popolarità degli ETF a reddito fisso?
- Come sta cambiando la liquidità degli ETF con i nuovi protocolli d’ordine come, ad esempio, il lancio della RFQ in Italia?


Moderator
Demis Todeschini,
Listing and Market Development Manager ETFs, ETPs and open end Funds Market Capital Markets, LSEG

Speakers
Daniele Sabato,
ETF Sales, Intermonte 
Rick van Leeuwen,
Institutional Trading, IMC
Umberto Urso,
Institutional Trader, Flow Traders
Vincenzo Sagone
, Head of ETF, Indexing, & Smart Beta Business Unit, Amundi SGR

12:55 Pausa Pranzo

13:50 Presentazione: Negoziazione dei fondi aperti: opportunità per gli investitori istituzionali

Silvia Bosoni, Head of ETFs, ETPs and open end Funds, Listing and Market Development, Borsa Italiana

14:00 Getting the most out of your assets under management
As costs rise and yields fall across the business it has never been more important to maximise the potential of assets under management and reduce inefficiencies across the business. Securities lending, clearing and better collateral management all offer the ability to raise revenues. This panel will look at how.

- What are the latest trends in Securities Lending in Italy?
- How can firms maximise the revenues from their assets under management?
- How can asset managers better manage collateral?
- How much can clearing reduce collateral requirements?


14:40 Trovare il rendimento in un periodo di tassi bassi

Storicamente i tassi d’interesse bassi e l'allentamento quantitativo abbattono i rendimenti obbligazionari a vantaggio della crescita dei prezzi azionari al fine di costringere gli investitori ad innovare nella ricerca dell’alfa. Sebbene le opportunità abbondino sia nell'uso dei nuovi strumenti derivati sia nei mercati emergenti, queste aggiungono complessità alla gestione del portafoglio.


- Quale impatto possono avere i tassi più bassi e il QE sui rendimenti?
- A quali insiemi di asset o strumenti si rivolgono gli investitori per la ricerca del rendimento?
- Quali sono gli strumenti derivati che possono essere usati per aumentare il rendimento?
- Oggi, quali sono i mercati emergenti che attirano maggiormente gli investimenti e com’è possibile accedervi?

Luca Barillaro, Trader & Independent Financial Advisor
Antonio Ruggeri, Portfolio Manager, Syz Asset Management
Alessio Abate, Portfolio Manager, Edmond de Rothschild (France), SI
Byron Baldwin, Deputy Global Head,  Fixed Income Trading & Clearing Sales, Eurex


15:20 Pausa Caffè

15:45  Unbundling  dei servizi di ricerca e di negoziazione
Uno degli aspetti più impegnativi della Mifid II per la gestione e l‘intermediazione dei beni è stato la separazione dei servizi di ricerca e negoziazione. Si discuteranno quali saranno i modelli più probabili e quale sarà l'impatto sul mercato.


- In che modo i brokers faranno pagare il servizio di ricerca post-Mifid II?
- In che modo gli asset managers allocheranno i costi della ricerca?
- Come appare il modello di ricerca post-Mifid II in Europa?

Sam Tyfield, Partner, VedderPrice
Alessandro Portolano, Lawyer, Chiomenti
Bepi Pezzulli, Chairman, General Counsel & Chief Compliance Officer , Finlombarda Spa

16:25  Brexit: impatto sull ‘industria del risparmio gestito in Europa
Nel 2019 il Regno Unito uscirà formalmente dall'Unione Europea. Ci sono soli due anni per stabilire l’intero processo. Ci sono ancora tante questioni aperte su cui discutere e tante incertezze in materia di transazioni transfrontaliere e flussi di capitali tra il Regno Unito e l'Europa. Per gli asset managers europei, ci saranno tante opportunità ma anche tante sfide.


- In che modo la Brexit può impattare sugli investimenti gestiti da chi risiede nel Regno Unito?
- Qual è l'impatto che la Brexit può avere sulle imprese europee che vogliono accedere alla City londinese?
- Che cosa possono fare le imprese per giungere preparate di fronte a questi profondi cambiamenti?
- La Brexit è un'opportunità per gli asset managers dell'UE?

Moderator
Will Mitting, Managing Director , Global Investor
Edoardo Guffanti, Founding Partner, Craca Di Carlo Guffanti Pisapia Tatozzi 
Peter Andrews, Senior Adviser, Oxera Consulting LLP
Jeff Greenbaum ,Lawyer, Hogen Lovells


17:10 Drink di chiusura

Speakers


  


Alessio Abate, Portfolio Manager, Edmond de Rothschild (France), SI
Peter Andrews, Senior Adviser, Oxera Consulting LLP
Luca Barillaro, Trader & Independent Financial Advisor
Silvia Bosoni, Head of ETFs, ETPs and open end Funds, Listing and Market Development, Borsa Italiana
Francesca Dell'Era, Vice President, Fixed Income Trading & Clearing Sales, Eurex
Jutta Frey-Hartenberger, Vice President, Fixed Income & FX Product R&D, Eurex
Massimo Giorgini, Head of Equity and Derivatives Markets Business Development, Borsa Italiana
Jeff Greenbaum, Lawyer, Hogen Lovells
Edoardo Guffanti, Founding Partner, Craca Di Carlo Guffanti Pisapia Tatozzi 
Rick van Leeuwen, Institutional Trading, IMC
Will Mitting, Managing Director , Global Investor
Andrea Mornato, Director, Invesco Asset Management
Bepi Pezzulli, Chairman, General Counsel & Chief Compliance Officer , Finlombarda Spa
Ivo Pezzuto, Professor of Economics, Global Scenarios, Finance, Strategy, Innovation and Entrepreneurship, ISTUD
Alessandro Portolano, Lawyer, Chiomenti
Antonio Ruggeri, Portfolio Manager, Syz Asset Management
Daniele Sabato, ETF Sales, Intermonte
Vincenzo Sagone, Head of ETF, Indexing, & Smart Beta Business Unit, Amundi SGR
Demis Todeschini, Listing and Market Development Manager ETFs, ETPs and open end Funds Market Capital Markets, LSEG
Michele Troiani, Head of Continental Europe Buyside Relationship Management, Borsa Italiana
Sam Tyfield, Partner, VedderPrice
Umberto Urso, Institutional Trader, Flow Traders

 

 

 

 

 

 

Event Partner

 

Borsa Italiana has been founded after the privatization of the exchange and has been operational since 1998. It is responsible for the organization and functioning of the Italian  financial markets.
The main objective is to ensure the development of its markets, maximizing their liquidity, transparency and competitiveness.
 
Borsa Italiana is part of London Stock Exchange Group, one of  the main market in Europe for equities, bonds and derivatives exchanges.

 

Silver Sponsor

 

 

 

CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate
clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of
services covering execution, clearing, depositary and custody, fund administration, middle office
outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under
custody of €2.5 trillion, under depositary of €964bn, and assets under administration of €1.6 trillion,
CACEIS is a European leader in asset servicing and one of the major players worldwide.
www.caceis.com

 

 

Eurex Exchange 

About us

Eurex Exchange, one of the world’s leading derivatives exchanges, offers about 2000 products across nine traditional and alternative asset classes to provide our customers with a broad product diversity for greater opportunities.
Our Futures and Options on EUR-denominated Government Bonds and derivatives on the benchmark indexes, DAX® and EURO STOXX 50®,
are among the most actively traded Interest Rate and Equity Index Derivatives in the world.

Eurex Exchange offers the broadest complex of listed MSCI Index Futures and Options, available via the order book as well as via Eurex Trade Entry Services. Our Volatility futures and options on the VSTOXX® offer a convenient and cost-effective way to take a view on European
volatility.

Operated by Deutsche Börse AG we offer a broad range of international benchmark products and operate the most liquid fixed income
markets in the world, featuring open and low-cost electronic access. With market participants connected from 700 locations worldwide, trading volume at Eurex Exchange exceeds 1.7 billion contracts a year, making us the market place of choice for the derivatives community worldwide.
Operating as a lean, entrepreneurial organization we strive to fulfill customer demand. Our team of dedicated professionals does its utmost to offer every class of investor the advantages of having spot and futures markets as well as related clearing and settlement activities all fully integrated under one roof.

 

 Supporting Partner

 

 

 

Intermonte is an independent investment bank on the Italian equity market. His management team is made up of highly experienced, closely knit business partners who have been working together for over 20 years. High-quality research, effective sales and efficient trading are guaranteed by a stable management team and a consistent presence in international marketplaces such as London and New York. Over 450 institutional investors in Italy and abroad and numerous listed companies count on Intermonte SIM’s professionals for advice. Since 2014  the ETF sales trading team developed strong relationship reaching a leader position in the market

 

Media Partner

 

 

ADVANCED

Founded in 2002, ADVANCED helps and educates everyone on financial technologies that are changing the world of trading. Analyzing your winners and more importantly re-engineering your losers. Focused on (AI)Artificial Intelligence, Machine Learning and the applications in Big Data Analysis to the way you trade.

http://www.advancedfutures.com

 

Westin Hotel


Westin Hotel

Piazza della Repubblica, 20,
20124
Milano
Italy