International Derivatives Expo

Volatility and the pandemic: did systems work?

The recent market volatility and consequences of a world in lockdown both had an impact on the trading and post-trade processing of cleared derivatives. These sessions look at how systems along the trade cycle functioned.

14:00 BST / 9:00 EDT
Keynote Q&A- Volatility and the Pandemic: Did Systems Work?  

The market volatility caused by the outbreak of the global pandemic had a huge impact on exchange-traded derivatives with many CCPs processing record volumes of transactions and some implementing rapid changes to margin to reflect market conditions. FIA’s Jackie Mesa talks to two CCP leaders to hear the perspective from different areas of the cleared derivatives markets.  

Moderator: 

• Jackie Mesa, Chief Operating Officer & Senior Vice President of Global Policy, FIA

Speakers:

• Daniel Maguire, Chief Executive Officer, LCH Group and Group Director, Post Trade Division, LSEG
• Hester Serafini, President, ICE Clear Europe

14:30 BST / 9:30 EDT
Learning the Lessons from the Crisis 

The trading cycle was put under strain at the height of the crisis caused by the COVID-19 pandemic, yet the system was resilient. This live panel of operations and trading professionals will examine the challenges faced, the response from the industry; and the lessons learned. 

Moderator: 

• Don Byron, Head of Global Industry Operations & Execution, FIA

Speakers: 

• Nicholas Briggs, F&O Operations Global Strategy, BofA 
• Diederik Dorst, Global Head of Regulation and Market Structure, Flow Traders 
• Jens Janka, Director – Head of Clearing Delivery & Control, Eurex Clearing
• Christopher Smith, Head of Clearing and Post Trade Operations, LME Group
• Meher Sutaria, Executive Director, Global Head of Regulatory Control and European Head of Operations, J.P. Morgan

15:30 BST / 10:30 EDT
Sponsored Session: Understanding the role of global benchmarks to navigate oil market volatility

Negative prices, volatility and the role of benchmarks with ICE’s Global Head of Clearing and Risk, Chris Edmonds and Mike Wittner, Head of Oil Market Research. 

Moderator: 

• Chris Edmonds, Global Head of Clearing and Risk, ICE

Speaker: 

• Mike Wittner, Head of Oil Market Research, ICE

Commodities and the unexpected consequences of COVID-19

How have global commodities markets been impacted by the pandemic? Thursday’s programme will look at the fundamentals as well as the specific areas of concern for this asset class as well as the longer-term implications.

14:00 BST / 9:00 EDT
Keynote Address: Impact of the Pandemic

Speaker: 

• Blu Putnam, Managing Director and Chief Economist, CME Group

14:30 BST / 9:30 EDT
Commodities in Focus 

The pandemic crisis resulted in some specific issues for certain commodities markets including negative pricing and problems with physical delivery. Experts will consider these and other topics including the prospects for a continued focus on sustainability in a post-COVID world. 

Moderator: 

• Joanna Williams, Of Counsel, Financial Markets Regulatory, Simmons & Simmons LLP

Speakers:

• Paul Dawson, Head of Regulatory Affairs, RWE Supply & Trading 
• Steffen Riediger, Director, European Power Derivatives, European Energy Exchange
• Paul Willis, Technical Specialist, Commodities, Financial Conduct Authority
• Guy Wolf, Global Head of Market Analytics, Marex Spectron Group