TradeTech FX USA 2019

February 13 - 15, 2019

National Doral, Miami

44 (0) 207 036 1355

TradeTech FX USA Day 1- 02/14/19

7:45 am - 8:30 am Conference Registration & Networking Breakfast

8:30 am - 8:35 am Welcome Address: Oliver Kirkbright, TradeTech FX USA Editorial Director, WBR

8:35 am - 8:40 am Chairperson's Opening Remarks: Michael Melvin, Executive Director, Rady School of Management UCSD

8:40 am - 9:00 am Head Trader Keynote Interview: Determining the critical success factors for building a 'best in class' FX trading business that not only survives but thrives in the new market order

Andrew Maack - Head of FX Trading, Vanguard Tomo Tokuyama - Head of Trading, First Quadrant
Ø What are the three biggest drivers influencing the buy side desk and how can you embrace these now to improve performance?
Ø Where is the investment in new technology going and what capabilities are needed on the buy side to actually achieve best execution for clients?
Ø  Navigating the new norm- How can you incorporate innovative ways of working to address the fragmented product, liquidity, and platform conundrum?
Ø The increasing buy side influence over market convention- How can we as buy side heads continue to influence and drive fixed income markets forward in an age of digitalization?
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Andrew Maack

Head of FX Trading
Vanguard

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Tomo Tokuyama

Head of Trading
First Quadrant

9:00 am - 9:40 am All Star Panel: The march towards computerized trading- What constitutes next generation FX algos and how should you best leverage them in your FX execution process

Paul Aston - CEO and Director Tixall Global Advisors David Biser - Senior Trader, Campbell and Company Ralf Donner - Global Head of Client FX Algo Execution, Goldman Sachs
Ø  The smart trader- How should algos compliment your trader’s toolkit to give them the best chances of meeting their best execution goals?
Ø  Assessing the adoption rates for FX algos- How are the buy side adapting to increasingly advanced and intelligent algos and what percentage of their workflow is executed via this method?
Ø  Modern-day algos- How can you ensure you are using your current algos to the best of your ability and what are the FX industry standards you should expect from these?
Ø  Debunking the myth of commoditized algos- How do providers differentiate their algos to offer bespoke, tangible value to your execution process?
Ø The next step in the algo evolution- How are more sophisticated algos being developed with the use of AI and machine learning which are more flexible and adaptable to rules-based trading? 
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Paul Aston

CEO and Director
Tixall Global Advisors

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David Biser

Senior Trader
Campbell and Company

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Ralf Donner

Global Head of Client FX Algo Execution
Goldman Sachs

9:40 am - 10:00 am Sell Side Keynote: Assessing the internalization model- What makes a best practice model for access to reliable liquidity in a cost effective manner?

Ø  What technology and flow is needed to build a transparent and fair internalization model which reduces client conflict?
Ø  How can the sell side be more open with their internalization flow to ensure their clients are gaining access to the quality execution they need?
Ø  Transparency on internalization- What measures are the sell side putting in place to evidence the fairness and efficiency of their client’s execution?
Ø  How have sell side firms reviewed their internalization process in light of the recommendations from the code of conduct?
Ø The benefits of internalization- How is the trust factor now being restored on the banking side after the rate-rigging scandals of the past

10:00 am - 10:40 am All Star Panel: Evaluating the state of liquidity in FX markets today- How can you ensure you have the right capital and access to liquidity to facilitate your mandates?

Kenneth Monahan - Senior Analyst Greenwich Associates Kevin Kimmel - Market Making, Citadel Securities Brad Bechtel - Global Head of FX, Jeffries Jeremy Smart - Head of Distribution, XTX Markets Alex Sedgwick - Head of Fixed Income and FX Market Structure, T. Rowe Price
Ø  What are the different forms of liquidity available to the buy side and how can you measure the execution quality around these?
Ø  Establishing the good from the bad- What constitutes good FX liquidity in today’s market?
Ø  How has increased use of algos and eTrading impacted FX liquidity?
Ø  What resources and technology are available to give you access to new liquidity pools?
Ø How can you ensure you are taking the best possible path to trade which minimizes the bid-offer spread?
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Kevin Kimmel

Market Making
Citadel Securities

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Brad Bechtel

Global Head of FX
Jeffries

Kenneth Monahan

Senior Analyst
Greenwich Associates

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Jeremy Smart

Head of Distribution
XTX Markets

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Alex Sedgwick

Head of Fixed Income and FX Market Structure
T. Rowe Price

10:40 am - 11:20 am Morning Masterclass:Transparency on Internalisation- How to ensure you are receiving fair and efficient execution from your counterparts Open to a maximum of 20 buy side delegates- Refreshments to be served during this session Hosted by Deutsche Bank

Open to a maximum of 20 buy side delegates
Refreshments to be served during this session

10:40 am - 11:10 am Morning Refreshment Break brought to you by PAR FX

11:10 am - 11:30 am All Star Panel: From Fragmentation to consolidation- Assessing the spectrum of trading venues and what makes the optimum mix to build a strong network of diversified liquidity pools?

Kenneth Monahan - Senior Analyst Greenwich Associates Isaac Lieberman - President and CEO, Aston Capital Management Matt O'Hara - CEO, 360T Jill Sigelbaum - Head of FXall, Refinitiv James Sinclair - Executive Director, Market Factory
Ø  New methods of finding liquidity- How do platforms and new entrants need to evolve to continue to offer new avenues of liquidity for the buy side?
Ø  The evolution of FX trading venues- How are M&A impacting the FX landscape and how does this impact your access to liquidity?
Ø  Beyond price- How can you ensure that the measures of best execution you are receiving from your venue are sufficient?
Ø How are leading buy side firms deciding which aspects of the trade life cycle and workflows to invest their technology resources and how to allocate scarce capital between these?
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Isaac Lieberman

President and CEO
Aston Capital Management

Matt O'Hara

CEO
360T

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Kenneth Monahan

Senior Analyst
Greenwich Associates

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Jill Sigelbaum

Head of FXall
Refinitiv

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James Sinclair

Executive Director
Market Factory

11:30 am - 12:10 pm Macro Keynote: Trade wars, geo-politics and central bank intervention- What are the economic fundamentals that will impact currency movements in 2019

Kristina Hooper - Chief Global Market Strategist, Invesco
Ø  What are the key macroeconomic indicators that will determine the long-term direction of currencies and how should you factor these movements into your investment decision making?
Ø  Is the reign of the USD as the world’s major reserve currency set to come to an end, and if so what would be the investment implications?
Ø  Managing currency risk in an era of trade wars- How can you prepare your investment strategy to combat increased risk and volatility
Ø What is the outlook for interest rate and balance sheet policy and what are the key economic considerations that will impact the FED’s policy stance?
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Kristina Hooper

Chief Global Market Strategist
Invesco

Live polling and interactive audience Q&A during this session
Moderator: Marc Chandler, Chief Market Strategist, Managing Partner, Bannockburn Global Forex
US Macro: Paresh Upadhyaya, Currency Strategy Director, Pioneer Investments
European Macro:Alessio de Longis, Vice President, Portfolio Manager and Macro Strategist, Oppenheimer Funds
Asia Macro: Michael Cheah, Academic Director, MS Global Finance, Fordham University
EM Macro: Win Thin, Global Head of Strategy, Brown Brothers Harriman
Ø  US Macro view- FED Policy in the age of Trump. What is the first cut for FED funds and where will they peak?
Þ     Foreign Exchange in times of US interest rate differentials- What impact will a US rate hike have on the dollar and how should you factor this into your investment strategy?
Ø  EU macro view- Risk segregation and market fragility in the Eurozone- Where do the biggest risks and opportunities lie?
Þ     When will the ECB begin quantitative tightening and what impact will this have on both the currency and volatility?
Ø  Asia Macro View- A new chapter in Chinese currency policy- How is Chinese monetary policy impacting FX flows?
Þ     Will the liberalization of Chinese FX policy entice other markets in APAC to do the same?
Ø What is the best trading opportunity and why across each region, and how can you best capitalize on this?
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Paresh Upadhyaya

Director of Currency Strategy
Pioneer Investments

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Alessio De Longis

Vice President
OppenheimerFunds

Marc Chandler

Chief Market Strategist, Managing Partner
Bannockburn Global Forex

Michael Cheah

Academic Director
MS Global Finance, Fordham University

Win Thin

Global Head of Strategy
Brown Brothers Harriman

12:40 pm - 1:40 pm Lunch Masterclass: Hosted by Morgan Stanley

  
Open to a maximum of 20 buy side delegates
  Lunch to be served during this session

12:50 pm - 2:00 pm Networking Lumch

Conference Tracks: Track A Enhancing your Pre and Post Trade Workflow

2:00 pm - 2:20 pm Fireside Chat: Tapping into new insights- How can you effectively incorporate alternative data sources into your workflow to make more informed trading decisions?
Javier Paz - Managing Director and Founder ForexDatasource.com
Ø  How can better quality market data create new investment and trading opportunities for the buy side and catapult your capabilities ahead of the competition?
Ø  How can you integrate new data insights into your existing workflow, with alternative data (satellite information, weather data, foot traffic, etc) and social media data adoption a growing focus?
Ø  How you can reduce fragmentation and understand different data points from different systems?
Ø What internal processes need to be in place to better analyze real time data and link this with best execution?
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Javier Paz

Managing Director and Founder
ForexDatasource.com

Conference Tracks: Track A Enhancing your Pre and Post Trade Workflow

2:20 pm - 3:00 pm 360 Perspective: Taking a modern approach to workflow efficiency- How can you ensure your OMS/EMS system is meeting the highest standards to support your trading and portfolio management needs
Brad Bailey - Research Director Celent Michael O’Brien - Director of Global Trading, Eaton Vance Christopher Matsko - Head of FX Trading Services , Portware, a FactSet Company
Ø  Modern functionalities- What are the needs of the buy side from their OMS/EMS counterparts and how can they be addressed so the providers are meeting these needs?
Ø  FX vs. Multi Asset- How should you establish whether an asset class specific or multi asset solution is best suited to give you the flexibility and control that meets the needs of your trading workflow?
Ø  Seamless integration- How should a modern OMS/EMS simplify a buy side workflow through STP and help you connect to more liquidity hubs, integrate more data and help you meet your compliance goals?
Ø How can you ensure your OMS/EMS is future proof and does not inhibit your business from evolving on the back of increased technological fragmentation and regulatory reform?
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Michael O’Brien

Director of Global Trading
Eaton Vance

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Christopher Matsko

Head of FX Trading Services
Portware, a FactSet Company

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Brad Bailey

Research Director
Celent

Conference Tracks: Track A Enhancing your Pre and Post Trade Workflow

3:00 pm - 3:40 pm 360 Perspective: Establishing your path to best execution- How can you get the most out of your pre and post trade TCA capabilities to inform current and future FX execution?
John Radle - Head of Trading, Campbell and Company Ruben Costa-Santos - Head of FX, ITG Dan Lavigne - Trading Director, OMERS Holden Sibley - MD, Head of Americas Electronic FICC Distribution, Barclays Investment Bank
Ø  Pre-trade- How can modern-day TCA be used to empower traders and help them intelligently establish the most appropriate execution tool and the best venue to do this on?
Ø  Real time- What are the essential components required for on-going analysis in real-time to enable traders to make more informed decisions for subsequent orders.
Ø  Post trade- How should you us post-trade analytics to inform and improve current and future order execution?
Ø Addressing the challenges of less liquid currencies- How can you construct your benchmark and TCA for less developed currency pairs to develop accurate execution analysis?
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John Radle

Head of Trading
Campbell and Company

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Ruben Costa-Santos

Head of FX
ITG

Dan Lavigne

Trading Director
OMERS

Holden Sibley

MD, Head of Americas Electronic FICC Distribution
Barclays Investment Bank

Conference Tracks: Track A Enhancing your Pre and Post Trade Workflow

3:40 pm - 5:00 pm Exclusive Invite Only Buy Side Head Trader Think Tank
  How can the buy side better collaborate to drive mutually beneficial initiatives forward?
  5:00 – 5:30 Private drinks reception for head trader think tank attendees only

Conference Tracks: Track A Enhancing your Pre and Post Trade Workflow

3:40 pm - 4:10 pm Afternoon Refreshment Break brought to you by PAR FX

Conference Tracks: Track B Capitalizing on New Alpha Opportunities

2:00 pm - 2:20 pm Industry Perspective: Carry, value and momentum- Examining the styles of trading that define CTAs and how they are adapting to a fluctuating currency market
Kathryn Kaminski - Chief Research Strategist and Portfolio manager, Alpha Simplex Group
Ø  Assessing the macro risks of trade wars- What impact does this have on globalization and as a result currency investing
Ø  Trade wars and currencies- What are the channels by which currencies will be affected and what type of currencies are most likely to be affected?
Ø  The elements of uncertainty that impact investors strategies- How much more risk conscious should you become?
Ø  The impact of trade wars locally- How will this impact the USD?
Ø How would reduce global output and diminished risk appetite affect currencies beyond G10?
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Kathryn Kaminski

Chief Research Strategist and Portfolio manager
Alpha Simplex Group

Ø  Fed rate-hiking cycles- Where are we now and what is the forecast for the year ahead?
Ø  How are the ECB responding to the end of their own Quantitative Easing scheme and what is the strategy for tapering?
Ø  How will FED rate hikes and the potential for monetary policy convergence globally impact the strength of the USD?
Ø  What role can FX play in a potentially lower return environment as a result of rate hikes and how can you acclimatize to this new environment?
Ø  New opportunities for FX investors- What is your trade relating to monetary policy with exchange rates and exchange rate forecasting?
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Michael Melvin

Executive Director
Rady School of Management UCSD

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Ken Chee

Trader and Portfolio Manager
STRS Ohio

Marc Chandler

Chief Market Strategist, Managing Partner
Bannockburn Global Forex

Uto Shinohara

Head of Portfolio Management & Research, Currency Management
Mesirow Financial

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Lee Ferridge

Head of FX Strategy
State Street Global Markets

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Andrew Busch

Chief Market Intelligence Officer
CFTC

Conference Tracks: Track B Capitalizing on New Alpha Opportunities

3:00 pm - 3:40 pm Case Study Revolution: Turning big data into smart data- How can you put new and alternative data sources to work and convert these into alpha generation opportunities?
Michael Melvin - Executive Director Rady School of Management UCSD Larisa Mathur - Founder, VNR Partners Christina Qi - Partner, Domeyard LP Sash Sarangi - Senior Researcher, Invesco
Ø  How can superior data sets and methods of extracting information from data give you an advantage in investing?
Ø  What alternative forms of data are the buy side using now to build out their portfolios and come up with new trade ideas?
Ø  How can you integrate new data insights into your existing workflow, with alternative data (satellite information, weather data, foot traffic, etc.) and social media data adoption a growing focus?
Ø  Turning data into alpha- How can you manage and utilize this data to extract new actionable trade ideas?
Combining AI with big data- How can a data-driven, scientifically based and technologically aware research culture can produce sustainable alpha?
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Michael Melvin

Executive Director
Rady School of Management UCSD

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Larisa Mathur

Founder
VNR Partners

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Christina Qi

Partner
Domeyard LP

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Sash Sarangi

Senior Researcher
Invesco

Conference Tracks: Track B Capitalizing on New Alpha Opportunities

3:40 pm - 5:00 pm Exclusive Invite Only Buy Side Head Trader Think Tank
  How can the buy side better collaborate to drive mutually beneficial initiatives forward?
  5:00 – 5:30 Private drinks reception for head trader think tank attendees only

Conference Tracks: Track B Capitalizing on New Alpha Opportunities

3:40 pm - 4:10 pm Afternoon Refreshment Break brought to you by PAR FX

Buy Side Workshop open to a maximum of 20 buy side delegates: Track C Next Generation Algo Trading

2:00 pm - 3:00 pm Workshop: Hosted by UBS
Ø  Market impact, price, performance, information leakage and risk- How can you establish these factors when incorporating new algos on your desk?
Ø  Evaluating algo performance- What advanced measurements should you incorporate to best understand the success on your trading desk? 
Ø  What are the pitfalls you should be aware off when selecting new algos and integrating them in your execution process?
Ø  What considerations go into developers when fine tuning their algos and how are they continuing to push the boundaries of current offerings?
Ø  The future- How will algos further influence FX market over the next 5 years and how can you ensure you are well positioned to take advantage of this?

Conference Tracks: Track A Enhancing your front to back FX Workflow

4:10 pm - 4:40 pm Interactive Interview: Addressing the demand for access to FX markets- How can you establish alternative access to credit to open doors to new liquidity avenues?
Paul Aston - CEO and Director Tixall Global Advisors Nathaniel Litwak - Global Head of FXPB, BNP Paribas
Ø  The disintermediation of the traditional market structure- How are real money managers and prime brokers working together to offer new lines of credit and access to liquidity?
Ø  The decoupling of liquidity and credit- How can all market participants overcome the major hurdles to be able to interact non-traditional forms of liquidity?
Ø  Gaining new access to credit- How can you establish new avenues and what are the key aspects you should consider when installing new credit lines?
Ø  How can you streamline your collateral obligations and post trade while maintaining multiple bilateral trading relationships?
Ø What constitutes a flexible multi-asset prime service and how can you economically gain access to these?
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Paul Aston

CEO and Director
Tixall Global Advisors

Nathaniel Litwak

Global Head of FXPB
BNP Paribas

Conference Tracks: Track A Enhancing your front to back FX Workflow

4:40 pm - 5:00 pm Industry Perspective: Mitigating settlement risk- How can same day settlement be implemented to reduce counterparty risk, minimize trading costs and meet your best execution mandates?
Victoria Cumings - Managing Director Americas, Global FX Division, SIFMA
Ø  Best practice in institutional FX settlement- What is driving the need for faster settlement steps can you take to reduce the settlement time for FX forward transactions?
Ø  How can you best transact, clear and settle trades more competitively to reduce the costs of trading and maximize your chances of best execution?
Ø  With the trend towards asset globalization and increased exposure to foreign investments, how can you best mitigate the challenge of dealing with global custodians and local agents?
Ø  Establishing the pros and cons- What are the challenges of shortening the settlement cycle and how can these be overcome to make same day settlement a reality?
Ø Debate- Has SWIFT outlived its usefulness or will it continue to be the most widely used form of FX settlement for years to come?
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Victoria Cumings

Managing Director Americas, Global FX Division
SIFMA

Conference Tracks: Track A Enhancing your front to back FX Workflow

5:00 pm - 6:00 pm Cocktail Drinks Reception
Chatham House Rule
Ø  Assessing the cases for a bullish or bearish market in 2019- What drivers will impact your EM investing?
Ø  What are the cases for a reversal in sentiment and technicalities which would make EM investing more attractive in 2019?
Ø  Will the forecasted interest rate rises in 2019 positively or negatively affect EM markets in 2019?
Ø Is political uncertainty set to continue to derail EM investing in the year ahead or are we set for a more stable year?
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Michael Melvin

Executive Director
Rady School of Management UCSD

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Nathaniel Polachek

Portfolio Manager and Partner
Commodity Asset Management

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Ritirupa Samanta

Managing Director, Global Head of Systematic Fixed Income & Senior Portfolio Manager
FICC State Street Global Advisors

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Chris Milonopolous

Director, Emerging Markets Debt
Lazard Asset Management

Conference Tracks:Track B Prospering in a Global Investment Landscape

4:40 pm - 5:00 pm Fireside Chat: Preparing US investors for Chinese Investments- How to increase your exposure to offshore Yuan investments whilst managing key risks to enhance your returns
Alex Lenhart - Chief Representative- US & UK, Singapore Exchange Limited Jens Nordvig - Founder & CEO, Exante Data
Ø  Gaining access to Chinese markets- How will China’s MSCI entry present new opportunities to US investors?
Ø  The macro view of China- What are the key themes in 2019 that will impact Chinese currency investing?
Ø  Chinese currency investment strategies- Best practice case studies for managing and hedging the RMB
Ø What are the biggest investment risks and opportunities for Chinese currency investing in once cross-border RMB flows increase?

Alex Lenhart

Chief Representative- US & UK
Singapore Exchange Limited

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Jens Nordvig

Founder & CEO
Exante Data

Conference Tracks:Track B Prospering in a Global Investment Landscape

5:00 pm - 6:00 pm Cocktail Drinks Reception

Buy Side Boardroom open to a maximum of 12 buy side delegates: Track C Code of Conduct Implications for the Buy Side

4:10 pm - 5:10 pm FX Leaders Boardroom: Exploring the inner workings of FX internalization and externalization- How can asset managers, hedge funds and CTA’s ensure they are getting transparent, cost effective access to liquidity?
Ajay Kataria - Vice President, Electronic FX Distribution, Barclays Investment Bank Mauricio Sada-Paz - Global Head of eFICC Product and Distribution, Barclays
Hosted by Barclays
Ø  What you need to know- How does the BIS Code of Conduct apply to the buy side
Ø  What is required when signing up to the code and what are the key principles you should be aware of before committing?
Ø  How have buy side firms who have already signed up made changes (if any) based on the principles of the code?
Ø  Are there any implications of not signing the code and are there any buy side firms who have already decided not to commit to this?
Ø How has the code impacted your counterparties since its introduction in mid 2017?

Ajay Kataria

Vice President, Electronic FX Distribution
Barclays Investment Bank

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Mauricio Sada-Paz

Global Head of eFICC Product and Distribution
Barclays

Buy Side Boardroom open to a maximum of 12 buy side delegates: Track C Code of Conduct Implications for the Buy Side

5:00 pm - 6:00 pm Cocktail Drinks Reception