NO 234 – AUGUST 2012
Getting ready for the 52nd Annual Meeting

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WFE Focus August 2012
2012 WFE GENERAL ASSEMBLY & ANNUAL MEETING

hosted by Taiwan Stock Exchange (TWSE) 
14-18 OCTOBER 2012
Draft program (As of 27 August 2012)

Sunday 14 October

Working Committee – member and associate liaison officers

Board of Directors – for Board members only

18:30-22:00 Welcome reception – for all participants

Monday 15 October

08:30-13:00 General Assembly – members’ and associates’ heads of delegations

13:00-14:30 Luncheon

14:30-14:45 Annual Meeting

  • Welcome remarks by Ronald Arculli, Chairman of WFE
  • Hosts welcome from TWSE

14:45-15:00 Key note address, tbd

15:00-16:00 Panel 1 - Core Business Drivers: a crash course

How will the trends of 2012 (i.e. trading volumes, IPOs, etc) impact the exchange industry in 2013.  How is the relationship between exchanges and their clients evolving?   How can transparent trading venues compete with dark pools? Overall, does HFT provide more liquidity, or do they diminish market quality? What should be done about conflicts of interest at some trading venues (and internalization).

Facilitator:

  • William J. Brodsky, Chairman & CEO, Chicago Board Options Exchange

Panelists:

  • Andreas Preuss, Deputy Chief Executive Officer, Deutsche Börse
  • Elmer Funke Kupper, Managing Director & CEO, Australian Securities Exchange
  • Ian Cohen, Managing Director, COO Equities Asia, Chief Strategy Officer Global Equities, The Hongkong and Shanghai Banking Corporation (HSBC), tbc

18:30 Gala Dinner

Tuesday 16 October

9:00-10:00 Panel 2 – Good derivatives

The panel will review the development of futures and options markets, and innovation from exchanges, the outlook for derivative markets and commodity markets, and how to overcome harmful rules (short selling bans, position limits) and negative opinion (‘speculation’)

Facilitator:

  • Nandini Sukumar, Correspondent, Bloomberg News

Panelists:

  • Magnus Böcker, Chief Executive Officer, Singapore Exchange
  • Gary Katz, President and CEO, International Securities Exchange
  • Finbarr Hutcheson, Chief Executive, NYSE Liffe, tbc 

Presentation of the 2012 WFE Award for Excellence

10:30-11:00 Coffee break

11:00-12:00 Panel 3 - M&A: Good will and bad faith

National mergers are in, international mergers are out. Why were some clients against industry consolidation in 2011? Why are regulators and anti-trust commissions unconvinced that foreign owners will develop their markets better? What really is the synergy gained from international operations? Will banks retake ownership of exchanges?

Facilitator:

  • Jeremy Grant, Financial Times

Panelists:

  • Thomas A. Kloet, Chief Executive Officer, TMX
  • Ravi Narain, Managing Director and Chief Executive Officer, NSE India
  • Kaivan Shakib, Managing Director/Head Financial Technology & Securities, Merrill Lynch
  • Robert H. Urtheil, Partner, Oliver Wyman, tbc

12:00-13:30 Luncheon

13:30-14:30 Panel 4 – Asia: Where the markets are

Is it inevitable that fragmented markets will replace centralized markets in a similar way as screen trading replaced floor trading? What alternatives are there for Asian markets? Are links between markets and the ‘real economy’ (retail investors, IPOs) stronger in Asia, and if so will they stay that way? What can Asia teach the rest of the world about building better markets?

Facilitator:

  • Chi Schive, Chairman, TWSE

Panelists:

  • Atsushi Saito, President & CEO, Tokyo Stock Exchange
  • KRX, tbc
  • SSE, tbc
  • SFC-Hong Kong, tbc

14:30-15:00 Coffee break

15:00-16:00 Panel 5 – The year of the Regulator

Update on the attempts to reform the OTC markets, to reorganize European markets, to create better clearing and reporting infrastructures, to help finance SMEs, to meet G20 goals and not harm liquidity.

Facilitator:

  • Luis Téllez, Chairman & CEO, Bolsa Mexicana de Valores

Panelists:

  • Hans-Ole Jochumsen, Executive Vice President, NASDAQ OMX
  • Arlene McCarthy, Member, European Parliament
  • Rupert Thorne, Deputy Secretary General, Financial Stability Board, tbc
  • Mike Bodson, CEO, DTCC, tbc

16:00-16:15 Closing remarks: Invitation to the 2013 Annual Meeting in Mexico - BMV Remarks from the new WFE Chairman

16:30 Farewell Party

Wednesday 17 October
The Conference Tour

Thursday 18 October

Morning

Panel 6 – Developing markets roundtable

Newer, smaller markets often have to overcome significant problems, and their development often includes innovation and important lessons. When successful, newer markets offer the clearest proof of the benefits to an economy and living standards from well-run financial markets.

What should organizations like the WFE do to help markets develop?

Facilitator:

  • Hüseyin Erkan, Secretary General, WFE

Panelists:

  • Abdullah Al-Suweilmy, CEO, Saudi Stock Exchange (Tadawul);
  • Hans B. Sicat, President & CEO, Philippine Stock Exchange
  • José A. Martinez Zugarramurdi, CEO, Bolsa de Comercio de Santiago
  • Karim Hajji, CEO, Casablanca Stock Exchange
  • Mohamed Omran, Chairman, The Egyptian Exchange (EGX)
  • Indonesian Stock Exchange, tbc
  • Colombian Stock Exchange, tbc
  • Bursa Malaysia, tbc

 

Times and speakers are subject to change. Guest observers and journalists will attend annual meeting only.